Tuesday, July 22, 2008

Camaro meets the press, GM execs tout mpg


Unveilings take place in Detroit, Los Angeles

General Motors today showed off the widely anticipated 2010 Chevrolet Camaro to the media, telling reporters it will beat competitors' fuel economy.

"We'll be promoting the fuel economy story very much," Ed Peper, vice president of Chevrolet, told reporters. "We are 2 or 3 mpg ahead of the competition."

The vehicle will be built at GM's Oshawa, Ontario, plant in Canada. Production is slated to begin on Feb. 16, 2009.

Peper said the V-6 version will get an estimated 26 mpg, while the V-8 version will get an estimated 23 mpg. The V-6 will get 304 hp, while the V-8 will get 422 hp.

"And we are still working on it," Peper said. He also hinted that a turbo 4-cylinder version could be in the works.

Sales begin in the first quarter of 2009, and Peper said more than 6,000 hand-raisers are interested in the car. The early-year launch will help spur sales, Peper said, because spring tends to be a popular time for consumers buying sports cars.

GM will disclose a price once the vehicle is closer to production, but Peper said the Camaro will be the "best value in the sports car segment."

The company plans to launch a convertible version in 2010.

GM is counting on the baby-boomer crowd for out-of-the-box demand, Peper said. The company's biggest challenge will be to attract buyers who aren't traditional enthusiasts.

Initially, Peper expects demand for the V-6 and V-8 versions will be split about 50-50, as enthusiasts will want the V-8. Long-term, he expects the V-6 version to be the sales leader.

Taking on the competition

GM views the Camaro's competitors as the Ford Mustang, Nissan's 350-Z and the Dodge Challenger, Cheryl Pilcher, product manager for the Camaro, said during the vehicle's unveiling in Los Angeles.

As for volumes, "we will build as many as we can sell," says Pilcher.

The production version of the Camaro doesn't stray much from the concept car GM showed in Detroit in 2006, though the chassis is different, says Vince Muniga, engineering spokesman for GM. The new Camaro is built on the GM's global rear wheel drive platform.

Says Tom Peters, design director for the Camaro exterior: "Our main goal was to get as close to the concept as possible."

The same is true for the interior, says John Zelenak, design manager for the Camaro interior.

Dealers are excited about the new Camaro.

"We have lots of lots of people waiting," to see the car, says Rusty Bunstead, sales manager at the Courtesy Chevrolet dealership in Morgan Hill, Calif., a city south of San Francisco.

Courtesy added a Camaro button on its Web site where customers could see a video and sign up to receive updates on the model long before the launch.

Courtesy Chevrolet is one of the largest Corvette dealers in the United States. It has two dealerships, one in Morgan Hill and one in San Jose, Calif.

Says Bunstead: "The Camaro is the poor man's Corvette."

Craig Trudell contributed to this report

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Ed Welburn, GM design vice president, and Ed Peper, vice president of Chevrolet, show off the 2010 Camaro in suburban Detroit today.
Photo credit: RICK KRANZ

PRESS RELEASE: Chevrolet Unveils the 2010 Camaro – A Fun, Efficient Sports Car for the 21st Century

Oshawa, Ontario (July 21, 2008) – Chevrolet today introduced the production 2010 Camaro being built at GM's Oshawa Car Assembly Plant. It is a heritage-inspired sports car for the 21st century, combining great looks and performance; advanced technology and surprising efficiency – including 9.0 L/100km estimated highway fuel consumption on the high volume V6 models. Sales begin in the first quarter of 2009.

"The new Chevrolet Camaro delivers the best of both worlds – great heritage and a thoroughly modern, advanced package of sporty driving, comfort and technology," said Marc Comeau, vice president sales, service and marketing for GM of Canada. "And it does so with styling, fuel economy and value our competitors simply can't match."

Built on GM's new, global rear-wheel-drive architecture, the Camaro is offered in V-6-powered LS and LT models, as well as the V-8-powered SS. All models and powertrain combinations include fuel-saving six-speed transmissions.

Product highlights include:

o Sleek, heritage-inspired interior and exterior styling with contemporary cues

o Robust body structure, exceptional build quality and suite of safety features including 6 standard airbags

o Advanced powertrain technologies, including engines with direct injection and Active Fuel Management, enabling a balance of performance and fuel economy

o Four-wheel independent suspension system tuned to match the performance capabilities of the respective powertrains

o Variable-rate power steering with the rack mounted forward of the front axle for better weight balance and greater driver feel

o Four-wheel disc brake systems standard on all models, including four-piston Brembo calipers on SS models

o StabiliTrak stability control system and traction control standard on all models

o Family of 18-, 19- and 20-inch wheels

The new Camaro also has technologies that enhance comfort and convenience, including:

o Bluetooth phone connectivity

o Premium Boston Acoustics audio system

o USB connectivity

o Ultrasonic rear parking assist (late introduction)

o Remote vehicle starting system

o OnStar

o XM Satellite Radio

Powertrains

An advanced, efficient 3.6L direct-injected V-6 with variable valve timing is standard on LS and LT models, which are expected to comprise at least 70% of Camaro sales in Canada. Direct injection technology helps the engine deliver more power through increased efficiency, while maintaining fuel economy and lowering emissions. That means less fuel is consumed and lower emissions generated – including a 25-percent drop in cold-start hydrocarbon emissions.

The Camaro's 3.6L engine also employs variable valve timing to optimize performance and fuel economy across the rpm range. It is rated at an estimated 300 horsepower (224 kW) and 273 lb.-ft. of torque (370 Nm). A six-speed manual transmission is standard with the 3.6L engine; a Hydra-Matic 6L50 electronically controlled six-speed automatic, with TAPshift control, is available.

The high-performance Camaro SS is equipped with a powerful 6.2L V-8, with a choice of a six-speed manual or six-speed automatic transmission. Manual-equipped models receive the LS3 engine, estimated at 422 horsepower (315 kW) and 408 lb.-ft. of torque (553 Nm) and is paired with a TR6060 six-speed transmission.

A new, L99 engine, based on the LS3, is used on automatic transmission-equipped SS models and also includes GM's fuel-saving Active Fuel Management feature to improve fuel economy. The L99 is estimated at 400 horsepower (299 kW) and 395 lb.-ft. of torque (535 Nm); and it is matched with a Hydra-Matic 6L80 six-speed transmission. This combination delivers an estimated 10.2 L/100km of fuel consumption on the highway.

The 2010 Camaro exemplifies GM's global development process. The design concept originated in the United States; engineering was directed by GM's global rear-wheel-drive team in Australia; validation was conducted on roads around the world and assembly will take place at GM's award-winning Oshawa Car Assembly Plant in Canada.

General Motors of Canada (GMCL) is engineering and manufacturing advanced environmental technologies ranging from Active Fuel Management (cylinder deactivation) and hybrid systems to E85 biofuel and fuel cell vehicles – more than any other auto company right here in Canada. Headquartered in Oshawa Ontario, GMCL employs more than 15,000 people nationwide. GM of Canada manufactures vehicles, vehicle powertrains, and markets the full range of General Motors vehicles and related services through 732 dealerships and retailers across Canada. Vehicles sold through this network include Chevrolet, Buick, Pontiac, GMC, Saturn, Hummer, Saab and Cadillac.

Honda cuts Odyssey, Pilot output; boosts Civic's

Even Honda Motor Co. is feeling the pain of consumers' stampede from light trucks to cars.

The Japanese automaker said today that it will reduce production of the Honda Odyssey minivan and Honda Pilot crossover by a combined 10,000 units this year at its Lincoln, Ala., assembly plant. In the first half of 2008, Honda built 158,316 Odysseys and Pilots in Lincoln, down 2.4 percent from the same period of 2007.

"Honda is not immune to the shift in the market," said Honda spokesman David Iida. "We don't want inventories to get too high."

The production cut will be made from August through October. The Lincoln plant will close Aug. 1 and Aug. 29, and the plant's second shift will be canceled each Friday during the three months.

Honda wants to keep Pilot and Odyssey inventory between a 45- and 60-day supply, Iida said.

On July 1, Honda had a 78-day supply of Odysseys and a 99-day supply of Pilots, according to the Automotive News Data Center.

There will be no layoffs at the plant, Iida said. Honda will use the time for employee training and other work. Workers also could take paid or unpaid vacation time, he said.

Honda will consolidate light-truck production in Lincoln by moving output of the Honda Ridgeline pickup there from Alliston, Ontario.

Ridgeline production in Lincoln will begin in early 2009. Production trials begin in a few months, Iida said.

Honda also will increase output of the Honda Civic compact at its plants in East Liberty, Ohio, and Alliston. Honda did not say how much Civic production will rise.

Sunday, July 20, 2008

Great Wall banned from importing GWPeri minicar

A Turin court ruled this week that a Chinese minicar built by independent automaker Great Wall won't be allowed into Europe.

The court said the GWPeri minicar is too similar to the Fiat Panda.

Fiat sued Great Wall both in Italy and in China. Those moves were aimed at keeping the GWPeri out of the European Union and out of China. Fiat alleged that the car was a clone of its Panda minicar.

On July 16, a Turin court accepted Fiat's claims, saying in its ruling "the (GWPeri) doesn't look like a different car but is a (Fiat) Panda with a different front end."

The court ruled that Great Wall should pay a 15,000-euro fine for the first GWPeri imported in Europe. In case of further violations of the ruling, the fine grows to 50,000 euros per imported car.

Lawyers for Great Wall said the company will appeal the Turin court decision.

The court case in China is still pending. Earlier this year, Great Wall starting selling the GWPeri in China.

Fiat doesn't sell the Panda in China. The car has been Europe's best selling minicar since 2004.

New Camaro photos released


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One of the worst-kept secrets -- the production looks of the new Camaro -- is officially out in the open.

Several automotive Web and blog sites posted the shots of the car, which is nearly identical to what has been seen before. It goes on sale in February 2009, followed by a convertible in November.

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It's modified slightly, but the production car carried much of the vibe of the concept that was revealed at the Detroit auto show in 2006.

The interior has a slight retro feel, accented by halogen gauges and a racing-inspired steering wheel.

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The car will get a 6.0-liter V8 powerplant that makes more than 400 hp and a 3.6-liter V6 that tops 300 hp. A 2.0 liter, 260-hp turbocharged four, similar to what's in the Pontiac Solstice, will also likely be available. Engines will be mated to manual or automatic transmissions.

The car is also expected to have an SS badge.

The "official" reveal is scheduled for Monday afternoon.

Friday, July 18, 2008

All Mercedes cars to be turbocharged by 2010

Mercedes-Benz will introduce turbocharged engines across its entire lineup in the next 2½ years.

"All our vehicles will have turbocharged engines in series production by the end of 2010 at the latest," Thomas Weber, Daimler board member responsible for research and development, told Automotive News Europe at a press event here.

Forthcoming legislation in Europe and the U.S. is forcing automakers to reduce auto emissions.

Demand for turbochargers is growing because they offer a proven and relatively inexpensive way to reduce fuel consumption. With the addition of a turbocharger, Daimler will be able to install smaller, lighter and more fuel-efficient engines without sacrificing performance.

Under current proposals, the European Commission will ask the German automaker to cut its average fleet emissions from 178 grams per kilometer to 138 g/km by 2012. The Commission will fine automakers that fail to meet the targets.

Improving the efficiency of its existing engines is the first part of Daimler's strategy to reduce CO2 emission levels across its fleet. Weber said the medium-term step would be to introduce more hybrid technology. The S class -- Mercedes' flagship sedan -- will be offered as a full hybrid vehicle starting in 2009.

Weber also said that zero-emission driving is the German automaker's long-term goal. To get there, the automaker plans to use technology such as fuel cells and electric-powered vehicles. A full-electric version of the ForTwo from Mercedes sister brand Smart goes into production in 2010.

Thursday, July 17, 2008

Lotus Eagle


We’ve seen the fuzzy spy image which circulated the Net a short while ago and now Lotus has come clean and revealed the first official image of its new sportscar.

The much-anticipated newcomer from Lotus, codenamed ‘Project Eagle’ is the first all-new car from the company since the Elise in 1995 and it will make its official debut at the British Motor Show on 22 July.

Styled in-house by Lotus Design, the car will be sold in a 2+2 configuration and as purely a two-seater, the space in the rear being allocated to luggage storage.

Performance won’t be lacking - the stock model will be powered by a 280PS V6 2.5-litre engine and a higher performance derivative is planned for the future, along with a convertible option.

Two thousand units is the annual production forecast and deliveries will begin in spring 2009.

Auto stocks rise and oil prices fall

Share prices for automakers climbed by their largest margins in recent months today, while oil prices have dropped by $10 a barrel in two days.

Shares of General Motors and Ford Motor Co. each gained more than 15 percent after taking almost daily beatings in the stock market in recent weeks.

At close, GM shares finished up $1.64 or 16.6 percent to $11.48 a share. Ford shares closed at $5.49, up 84 cents or 18.0 percent.

The stock market drew support from oil prices, which pulled back by a combined $10.58 a barrel in two days. Light, sweet crude fell $4.14 a barrel, to $134.60, today after a drop of $6.44 on Tuesday, July 15.

Oil prices declined after Energy Department figures showed that domestic inventories of crude oil and gasoline rose last week rather than dropping, as analysts had expected, The Associated Press reported.

The recoveries of GM and Ford stock prices came despite credit rating agencies downgrading or threatening to lower their ratings for each automaker.

Moody's Investors Service said it would review its ratings on Ford, while Fitch Ratings on Tuesday downgraded GM to B-minus from B.

The agencies cited a dire outlook for automakers trying to ride out a worse-than-expected U.S. sales year. While making $15 billion in cuts and other changes to its spending Tuesday, GM said 2008 will be the worst sales year in a decade.

The following suppliers and dealership groups also posted gains in afternoon trading today:

Dealership groups

• AutoNation Inc.: $8.00, up 5.6 percent

• Penske Automotive Group Inc.: $12.50, up 5.8 percent

• Sonic Automotive Inc.: $8.89, up 5.9 percent

• Group 1 Automotive Inc.: $16.19, up 7.3 percent

Suppliers

• Johnson Controls Inc.: $29.61, up 4.0 percent

• Lear Corp.: $14.97, up 7.7 percent

• Dana Holding Corp.: $6.56, up 7.5 percent

Sunday, July 13, 2008

Minis’ safety slammed

Car makers are letting safety slide when it comes to superminis, crash test experts claim.

Despite the growing popularity of the fuel-efficient small models, only 17 per cent of those on sale in the UK are fitted with Electronic Stability Control (ESC) as standard.

The vital safety kit detects a skid and uses electronics to brake individual wheels and keep the vehicle under control. It is “the most effective safety device since the seatbelt”, according to Michiel van Ratingen, secretary general of Euro NCAP which surveyed the kit’s availability Europe-wide.

A comparison of cars revealed that Proton and Lotus were the worst culprits, with neither offering the set-up on any of their models – even as an option. Chevrolet was next on the league table, with ESC standard on none of its European cars and optional on only one-third of its range. Fiat, Suzuki and Daihatsu followed, with less than 30 per cent of theirmodels having the device fitted.

Friday, July 11, 2008

Chrysler: bankruptcy speculation has no merit

Chrysler LLC again sought to reassure dealers on Wednesday that reports of its financial distress are unfounded.

"Speculation has surfaced recently in media coverage of analyst reports suggesting Chrysler might have liquidity issues down the road if the U.S. market does not pick up," the company said in a July 9 letter signed by Jim Press, Chrysler co-president, and Steven Landry, executive vice president of North American sales.

"Chrysler has communicated to the media that the suggestion of a possible bankruptcy situation is without merit."

Press and Landry's note quoted a presentation made to the national dealer council June 27 by Lenard Tessler, managing director of Cerberus Capital Management LP. At that presentation Tessler told dealers that a $2 billion loan drawn down by Chrysler from Daimler AG and Cerberus Capital Management LP was something agreed to in the original transaction when Cerberus bought 80.1 percent of Chrysler from Daimler last August.

The loan "was not something that was a result of Chrysler having any need for incremental cash based on financial performance of the business," Tessler said in his presentation. "The company has exceeded all of its financial targets it set for itself from the day we closed the transaction on Aug. 3. The truth behind the $2 billion is that it was a contractual obligation we had to the company and we were simply meeting our obligation as it came due, and it is reflective of our confidence in the ability of the company to weather the storm and move forward."

Press and Landry noted that Chrysler recently adjusted production levels, announcing its St. Louis South minivan plant will shut down indefinitely and production at its St. Louis North truck plant will go from two shifts to one.

The company will focus on higher-mileage models for the rest of the year, the note said.

The note implored dealers to "hang in there and fight for every sale during this period."

Chrysler has been hammered by soaring gasoline prices, which have crippled sales of the pickups, minivans and SUVs that make up more than 65 percent of its sales. Chrysler LLC's car and truck sales plunged 35.9 percent in June compared with last June.

Porsche set to move closer to VW takeover


Porsche will be one step closer to acquiring majority control of Volkswagen on September 2, when its deal to buy 4.9 percent of that company's ordinary shares takes effect.

The VW takeover "will be executed piece by piece," Porsche CEO Wendelin Wiedeking said during an event in the Black Forest on Wednesday evening.

A spokesman for Porsche said the deal closes on that day in early September.

The purchase of another 4.9 percent of VW common shares was necessary before Porsche could proceed with gaining regulatory approval from the European Commission, which required further proof a takeover was indeed intended.

Once Porsche has received the green light from various antitrust authorities, it plans to raise its voting stake in Volkswagen to over 50 percent.