General Motors is projected to default on its next bond payment—the last before the June 1st government-imposed restructuring deadline. Next freeway exit: bankruptcy.
PUMA: So That's What GM Did With Our Bailout Money!
By April 15, 2009
How would you like to ride down Second Avenue in this? And where would you park it once you got to work? The P.U.M.A. (Personal Urban Mobility and Accessibility Project), recently unveiled by General Motors and Segway, can go 35 miles on one battery charge, seats two, and reaches speeds of 35mph. Whee!
GM's Prez Begs Customers To Plead On GM's Behalf
By November 18, 2008
Consumerist reader Darkrose writes, “I just got this in my e-mail. Thought you guys might be interested in it.” In the email, GM’s president Troy Clarke is in high PR mode, pointing out the grave consequences and emphasizing that GM wants not “a bailout but rather a loan that will be repaid.” We thought other readers who aren’t GM customers would find it interesting.
Washington Considering $25 Billion Loan Handout For U.S. Auto Makers
By September 9, 2008
What do you do when your industry starts to go belly up and you can’t make enough revenue to stay afloat? If you’re a short-sighted U.S. auto maker, you beg the government for $25-50 billion in immediate, low-interest loans in order to retool your plants, so you can start producing the hybrid cars you should have been planning years ago.
Maybe GM Can't Sell Cars Because Its Dealerships Won't Sell Them
By August 21, 2008
Consumerist reader Chris decided to take advantage of GM’s please-buy-a-car Employee Discount sale that we wrote about yesterday, so he headed off to two different dealerships in the NY/NJ area. What he found were deserted showrooms with salesmen who ignored him or argued with him over the existence of specific models he’d looked at online. He adds, “tonight I’m off to Toyota for some hard numbers on a Corolla and Camry.”
GM's 'Employee Pricing' Sales Mean Big Discounts On Cars Right Now
By August 20, 2008
GM is desperate to boost its sales this month, so the company is offering some steep discounts under its “Employee Pricing” sale. The car blog KickingTires is covering the discounts and points out that “almost all of the prices are around 10% off, which is big in terms of car sales.” For example, you can save $9,000 on a Hummer H3. Of course, you’ll spend that much on gas for it in the first week, but there are other options as well, like Saturns, Chevys, and even the 2008 Corvette Z06 (which we mention separately because KickingTires says powerful sports cars are usually exempt from this sort of sale, but not this time).
FCC To Reevaluate "Embedded Advertising" On Television
By June 30, 2008
The FCC has announced that they will be examining the practice of “embedded advertising” on television and will decide on what additional disclosure messages should be provided to protect the audience. This differs from simple product placement in that embedded advertising interweaves products into plot lines and dialogue, essentially, transforming a normal scene into an advertisement. The FCC contends that additional disclosure messages are necessary to protect viewers who may not be aware that advertisers are paying to have their products written into the plots of TV shows. Details, inside…
By June 25, 2008
In an effort to spur sales, General Motors is offering no-interest, six-year loans on new vehicle purchases through June 30th. Unfortunately, only the slow-selling models (i.e., not very fuel efficient) are included in the sale. Oh, also they’re raising prices on 2009 models. [New York Times]
General Motors Says New Fuel Requirements Will Add $6,000 To Price Of Cars
By January 17, 2008
Bob Lutz, GM’s vice president and product chief, told reporters this week that new federal guidelines that require 35mpg fuel efficiency by 2020 (yes, more than a decade from now) are so stringent that it will end up costing an average of $6,000 more per vehicle. “That cost will have to be passed on to consumers,” he then threatened. We can’t help but feel sorry for GM. After all, this whole “better fuel efficiency” topic was only brought up, what, like two or three months ago? And GM only has twelve years to find cost-effective (we’d say “innovative” but don’t want to put too much pressure on such a backwards, fearful company) ways to lighten cars and improve engines.
General Motors Recalls 313,000 Vehicles To Plug Fluid Leak
By December 23, 2007
General Motors has recalled 313,000 vehicles over concerns that a fluid leak could send motorists sliding brake-lights first into hedges. The recall, however, won’t begin until February 2008.
