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Old 10-29-2008, 06:42 PM   #1
Chromer
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Default GM to delay development of "nearly everything?"

"Your tax bailout dollars, we needs them."

From Autoblog Green

Quote:
GM slashing product development funding; "no impact" on Volt program

Posted Oct 29th 2008 at 6:05PM by Sebastian Blanco


Conflicting stories out today on the fate of new vehicle development at GM. AutoNews is saying that the General's cash crunch is means it is "postponing nearly all of its spending on product development in 2009 and 2010." AutoNews' unnamed sources also said that "nothing has been officially canceled, but nearly everything is delayed."

Meanwhile, over in the Detroit News, the word is that GM is "downplaying" the negative-sounding AutoNews report. GM spokesman Tom Wilkinson told the News that "We think [AutoNews is] probably overplaying this a little bit." The good news from both articles, though, is that the Volt seems to be safe, no matter what is happening to the rest of GM's upcoming programs. GM's Rob Peterson confirmed to AutoblogGreen that the cuts will have "no impact" on the Volt program at this time. Full speed ahead, apparently.
Separately, I just heard a blurb on Nightly Business Report that GM and Cerebus have reached agreement on all outstanding issues re: merger.
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Old 10-30-2008, 10:31 AM   #2
JuggernautTCW
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Default

man this is not a very informative or interesting thread... i was wondering why this thread had 0 replies.
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Old 10-30-2008, 01:45 PM   #3
AVANTI R5
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Default Cash crunch: GM delays spending on future products, r&d




Quote:
General Motors is postponing nearly all of its spending on product development in 2009 and 2010--a cost-cutting move that could delay the introduction of key vehicles such as the Chevrolet Cruze.

The automaker also is cutting spending on engineering, design and r&d, say sources familiar with GM's plans. So far, nothing has been officially canceled, but nearly everything is delayed, the sources say.

"The 2009 stuff that's too late to cancel is coming out, then everything else gets pushed out anywhere between three months and up to a year," said one of the sources. "It's not just capital budget; it's also engineering, design ... everything that would cause money to flow out in 2009."

General Motors is taking drastic action to avoid running out of money sometime next year. With its product delays, GM hopes to save as much as $1.5 billion, said the source.

GM spokesman Dee Allen declined to comment on plans for individual products. "There have been all kinds of speculation," he said. "We've said we're reviewing our portfolio, and we do that as a regular course of business."

Two high-profile vehicles--the Chevrolet Camaro and the Chevrolet Volt plug-in hybrid--are protected from the cutbacks, says one source close to GM. Likewise, the restyled Buick LaCrosse, the Chevrolet Traverse and possibly the Cadillac CTS wagon are still due to market as planned.

Since those products are ready for production, GM would not save much money by delaying them. In addition, the Volt is pivotal to GM's plan to match Toyota Motor Corp. as a technology leader and environmentally conscious corporation.

The LaCrosse is due in spring, and the Traverse will debut in the first quarter. The CTS wagon is due for the 2010 model year, but the launch date has not been set.

But GM tentatively will push back the launch of the Chevrolet Cruze, which was supposed to debut in the 2011 model year. That launch will be delayed six months to a year, say sources familiar with GM's plans.

Union members at GM's Lordstown, Ohio, plant, which would build the Cruze, say they have not been told of a holdup.

"Everything I've heard is that we're in the process of moving forward," said Dave Green, president of UAW Local 1714 in Lordstown. "There has been speculation that it would get delayed, but leadership said GM has not notified us of any delay."

Meanwhile, the Chevrolet Malibu sedan was to be restyled and re-engineered in the 2012 model year. But with the cost cutting, the revamped Malibu probably won't debut until the 2013 model year.

GM executives are meeting daily to find ways to shift money out of other things and into key product launches. Said one source: "There's still a lot of fine-tuning, and a lot of it could change."
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Old 10-30-2008, 01:47 PM   #4
AVANTI R5
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Default GM Expected to Reach Out to Toyota For Help





Quote:
Hurting for cash, General Motors may be looking to an unlikely source for capital: Toyota. Reuters is reporting that General Motors chairman and CEO Rick Wagoner is considering visting Japan soon and meeting with Toyota leadership to discuss the sale of assets. What does this mean, exactly, for us? We would expect GM to push a sale of the New United Motor Manufacturing, Inc. (NUMMI) plant in Fremont, California. NUMMI, which has been a joint venture between GM and Toyota since it started assembling Toyota Corollas and Chevy Novas in 1984, currently assembles the Toyota Corolla and Tacoma pickup, as well as the Pontiac Vibe.

What we do know for sure is this is all highly speculative until anything is signed or chiseled in stone. But remember that a month ago, claiming there would be a GM-Chrysler merger or a federal bailout for automakers would have had the messenger laughed out of town.
http://www.motivemag.com/newsindex_motive.shtml
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Old 10-30-2008, 01:52 PM   #5
AVANTI R5
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Default Toyota Denies GM Ever Requested Salvation From Them





Quote:
US automaker General Motors Corp has not asked Toyota Motor Corp for help in turning around its business Toyota said on Thursday denying a Kyodo news agency report.

Citing sources familiar with the matter, Japan's Kyodo reported overnight that cash-hungry GM had asked its rival for help and that it had explored the possibility of its chairman and chief executive, Rick Wagoner, meeting with Toyota's leadership in Japan soon. Toyota declined the overture, Kyodo said.


Read Article
http://www.autospies.com/news/Toyota...om-Them-36788/
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Old 10-30-2008, 03:28 PM   #6
Hites
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ooo, burn! gm just got blown off, and not in a good way!
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Old 10-30-2008, 05:47 PM   #7
Hondaslayer
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Default

And where is the "new" Camaro at again? GM delays everything until nobody gives a **** anymore, what's another year or ten.
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