AUTOWEEK
CAR NEWS 3/30/2009
U.S. will guarantee GM, Chrysler warranties, Obama says
"Let me say this as plainly as I can. If you buy a car from Chrysler or General Motors, you will be able to get your car serviced and repaired just like always," Obama said in a speech.
"Your warranty will be safe. In fact, it will be safer than it has ever been. Because starting today, the United States will stand behind your warranty."
Any funds for the warranty program will come from the $700 billion Troubled Asset Relief Program (TARP) provided by Congress, according to White House fact sheet on warrantees that was distributed last night
GM says bankruptcy excuses it from Impala repairs
Wed, Aug 17 2011
By Jonathan Stempel
NEW YORK, Aug 19 (Reuters) - General Motors Co (GM.N) is seeking to dismiss a lawsuit over a suspension problem on more than 400,000 Chevrolet Impalas from the 2007 and 2008 model years, saying it should not be responsible for repairs because the flaw predated its bankruptcy.
THE DETROIT NEWS
August 18. 2011
GM hits new low
David Shepardson/ Detroit News Washington Bureau
General Motors Co. hit a new low closing price since going public in November, ending the day at $23.60, down $1.34, or 5.3 percent. GM's struggling shares also set a new intraday low of $23.30 before recovering slightly. GM is down 28 percent over its IPO and down 22 percent since July 22.
At the current price, taxpayers could lose nearly $15 billion on their $49.5 billion bailout of the Detroit automaker. The government's 500 million shares — or a 26 percent stake — declined in value by nearly $700 million Thursday.
The government's sale of its remaining shares isn't likely anytime soon
..............................
AUTOWEEK 3/30/2009
Obama also on Monday said he will work with Congress to try to fund credits for consumers who turn in old cars and buy cleaner, more fuel-efficient automobiles.
Programs of this kind "have been successful in boosting auto sales in a number of European countries," Obama said the news conference.
August 17, 2011
Citing a Lack of Usage, Costco Removes E.V. Chargers
By JIM MOTAVALLI
Costco, the membership warehouse-club chain, was an early leader in offering electric-vehicle charging to its customers, setting an example followed by other retailers, including Best Buy and Walgreen. By 2006, Costco had installed 90 chargers at 64 stores, mostly in California but also some in Arizona, New York and Georgia. Even after General Motors crushed its EV1 battery cars, the Costco chargers stayed in place.
Costco is reversing course and pulling its chargers out of the ground, explaining that customers do not use them.
Chevrolet Volt monthly U.S. sales (2010–2011)
2011
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
321 281 608 493 481 561 125
2010
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
326 326
and this is WITH a $7500 government rebate incentive!!!
The first 200,000 Volts sold will qualify for a US$7,500 federal tax credit, which effectively reduces the MSRP to US$33,500
so with only about 3000 sold...plenty of govmint subsidy left
Threaded Mode