Archived Auto News and Events for May 2009

Honda Fit Hybrid for Sale Fall 2010 With a $15,800 Price
Scheduled for an initial release in Japan then in the U.S., Honda Motor Co. announced its intention to put the hybrid version of its Fit sub-compact in showrooms by late 2010.

EV Recharging Infrastructure Development Takes its First Step
ArcAngel Technologies of Plano, TX will begin selling and underwriting charging stations for plug-in electric vehicles. To recharge a number of plug-in electric vehicles , the U.S.

GM Bankruptcy Imminent after Failure to Meet Debt-reduction Schedule
In a last-ditch effort to prevent bankruptcy, GM failed to meet its debt-reduction schedule when its offer of $27 billion in bond debt in exchange for a 10 percent share in the reorganized company was not accepted before a midnight deadline.

Nissan Plug-in EV With 100 Mile Range For Sale Late 2010
Nissan is planning to introduce an all-electric plug-in EV by late next year which will use the Cube platform. Expect to see the as yet unnamed 5-door hatchback as fleet vehicles and driven by a few private owners.

GMAC Gets $7.5 Billion for Auto Loans to GM and Chrysler
The U.S. Treasury has given GMAC a $7.5 billion boost to alleviate a nation-wide credit drought which has hobbled new car buyers from obtaining loans from auto dealerships.

2010 Toyota Prius, a Technophile's Dream Car Faces Stiff Competition
With gas prices nowhere near where they were in July of last year, and the economy continuing to decline, auto dealerships currently have plenty of hybrids on their lots.

California Declares Carbon Emissions Victory with Obama's Tougher Car Fuel Efficiency Proposal
With President Obama's recent carbon emissions proposal to raise fuel efficiency ratings for cars and light trucks to 35.5 miles per gallon by 2012-16, Governor Arnold Schwarzenegger is claiming a victory for the state of California and the nation.

Best Time to Buy a New Car
Despite Chrysler LLC's efforts to forestall the closure of over 25 percent of its dealerships by appealing to bankruptcy court judges, chances are that 789 targeted dealerships will cease operating by June 9.

GM Cutting 1,100 Dealers by October 2010
As part of its effort to survive and achieve sustainability, GM announced that it would not renew contracts with 1,100 of its U.S. dealerships after October 2010.

Ford Focus EV Debut in 2011 with Higher Sticker Price
While the Ford Focus EV was intended to be sold at a lower price than some of the ultra-slick electric vehicles soon to appear on showroom floors, such as the Chevy Volt at $40,000 and the Tesla Roadster at $109,000, it may have a higher base price than originally planned.

GM Intends to Export its Chinese-built Mini-cars to US
GM intends to do something never done before; export cars from China to the U.S. Chinese automakers have long had the goal of selling their cars in the U.S.

Japanese Carmakers Mixed Success Staying in the Black
Given the condition of the economy, it is not surprising that even the most successful carmakers are experiencing less than stellar financial performance these days.

Chevrolet Volt on Track for Dealers by Late 2010
As part of GM's mission to keep the roads "full of great cars and trucks," Tom Stephens, GM vice chairman, plans to keep the Chevrolet Volt on its original schedule of rolling into showrooms by late 2010.

Stress Test Requires GMAC to Raise $11.5 Billion to Improve Sustainability
Stress test results for banks and other lenders, including GMAC will require some to raise more capital to bolster their sustainability if the economy worsens.

GM to Deny Plug-in Hybrid to Saturn Vue, as Carmaker Restructures
As a result of its plan to phase out Saturn from its stable of brands, GM will not move forward on creating a plug-in Saturn Vue Hybrid. GM's new chairman of global product development, Tom Stephens reported to the Free Press that he was going to "put it on one of our other brands." Promised for the 2011 model year Saturn Vue, the new plug-in technology could be implemented in vehicles which share the Saturn Vue's platform, including the Chevrolet Equinox or the GMC Terrain.

Judge's Ruling Paves Way for Fiat Purchase of Chrysler
On Tuesday, May 5, federal bankruptcy judge Arthur J. Gonzalez approved the proposed bidding procedures that will likely clear the way for Fiat's purchase of most of Chrysler LLC.

Chrysler Dealerships on Verge of Collapse
On Monday, May 4 a U.S. bankruptcy court heard testimony that Chrysler LLC's dealership network is on the brink of collapse as hundreds of dealers close their doors and wary consumers shy away from the troubled automaker's showrooms.

2009 Volkswagen Routan Poor Sales Spur Zero Percent APR
The 2009 Volkswagen Routan, a minivan introduced last September, is not setting sales records, except maybe on the wrong end of the chart. Built on the platform introduced by the Chrysler Town and Country , the Routan was "launched at the worst moment," according to Stefan Jacoby, CEO of Volkswagen Group of America, noting that at the time auto sales were plummeting.

GMAC Replaces Chrysler Financial, Underwriting New Car Loans for Dealerships
GMAC, which recently became a bank holding company, will now replace Chrysler Financial to underwrite vehicle inventories and retail loans for Chrysler LLC.