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Archived Auto News and Events for November 2010

Government Fleet Purchases Shore Up Hybrid Market
In the face of three years of falling sales numbers for hybrid vehicles, the Obama administration has shored up the under-selling automotive segment by purchasing approximately 25 percent of Ford and General Motors' hybrid output since 2008.
EPA Assigns Triple Mileage Ratings to Chevrolet Volt
On Wednesday, November 24, 2010, the Environmental Protection Agency assigned three different mileage ratings to the 2011 Chevrolet Volt, General Motors' highly anticipated plug-in hybrid.
Stresses on Auto Retirees' Pension Ease
As the successful General Motors IPO has apparently affirmed, the federal bailout of the American automotive industry was a success, in particular avoiding the collapse of pension plans at the bankrupt corporations, a major fear of some economists at the height of the recession.
Obama Praises GM IPO as an Affirmation of Federal Bailout
In remarks delivered Thursday, November 18 at the White House, President Obama said, "Today, one of the toughest tales of the recession took another big step towards becoming a success story." Affirming that American taxpayers will get their money back from the government bailout, the president characterized the nation's auto industry as on the rise.
General Motors Expands Scope of IPO
General Motors has now announced its final plans to sell 478 million shares of common stock in its initial public offering at a price of $32 to $33 each, as well as $4 billion in preferred shares for a potential of as much as $22.7 billion to be raised.
With Four Models Returning 40 mpg, Ford Leads in Fuel Efficiency
With the launch of the re-designed 2012 Focus compact, Ford Motor Co. expects to have four vehicles in its line with an EPA rating of 40 mpg. The other three in this exclusive club include the Fiesta subcompact SE with the SFE package, the Fusion hybrid, and the Lincoln MKA hybrid sedans.
Nissan Readies Support Taskforce to Deal with Leaf Launch
The Nissan all-electric Leaf will Launch in the United States next month and the company is assembling a task force of troubleshooters to address any problems as quickly as possible.
GM Enjoys Third Profitable Quarter One Week Before IPO
Just one week before its initial public offering, General Motors reported a third quarter net income of $1.96 billion on revenue totaling $34.06 billion.
Ford Stock Closes Week on Six-Year High
On a week that saw the market end on a two-year high, shares of Ford Motor Co. closed above $16 for the first time in six years on Friday, November 5, a gain of 15 percent over five days of trading.
BMW to Intro Two Innovative Models in 2013
On Friday, November 5, BMW announced at an event in Leipzig, Germany, that it will introduce the Vision Efficient Dynamics model, a hybrid supercar, in 2013.
American Automakers, Foreign Competitors Post Strong October Sales
Although election reporting disrupted the news on sales from various automakers, the October numbers, reported on both Tuesday and Wednesday, came in strong at just under 1 million with the seasonally adjusted annual sales rate near 12 million.
Pontiac Dies Quietly at Age 84
On Sunday, October 31, 2010, Pontiac died a quiet death at age 84 having not produced a car in almost a year and with many former dealers glad to no longer have the cars in their showrooms.
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