Earlier today, General Motors announced the good news that it turned a profit of $1.3 billion last quarter — oh, and CEO Ed Whitacre will be leaving at the end of the month. [More]
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Is $41,000 Too Much For A Chevy Volt?
By 7.27.10
After months of speculation about what price General Motors would slap on its first electric vehicle, the Chevy Volt, we finally have an answer, and it’s an expensive one. The Chevy — oops, we mean Chevrolet — vehicle will debut with a price tag of $41,000. [More]
GM Is Back In The Subprime Lending Business, Baby!
By 7.23.10
GM has agreed to buy subprime auto lender AmeriCredit Corp for $3.5 billion, bringing the auto company back into the lending game. GM, of course, used to own GMAC, now separate and known as Ally bank. GMAC was created to supply the financing for GM cars, but also got into subprime mortgage lending through its Residential Capital unit — and, well, you know how that turned out. [More]
What's Creepier, New Chevy Volt Ads, Or John Carpenter's Christine?
By 7.14.10
At first I thought it was a horror movie trailer coming out of the dashboard radio. There is a wall of droning sound, then an intense voice overlays with, “Listen. Hear that? That’s the sound of the status quo crumbling.” I wondered what new machete-wielding maniac would be gracing the theaters this summer, until I realized that his name was Chevy Volt. What? That’s your electric car ad? Why does it sound so much like the trailer for the 1983 cult classic Christine in which an otherworldly-possessed car goes on a murderous rampage? [More]
GM To Employees: It's 'Chevrolet,' Not 'Chevy'
By 6.10.10
Apparently, when General Motors isn’t busy destroying documents, they’re apparently not taking the time to improve their vehicles. Instead, they’re fretting over whether people refer to their most popular brand as “Chevrolet” or “Chevy.” [More]
Congress To GM: Please Stop Destroying Documents While We Still Own You
By 6.10.10
Though General Motors has made a big deal about allegedly paying back their bailout loan to the federal government, the fact is that most of the bailout money was turned into equity, which means the government — and ultimately the taxpayers — are the majority shareholder in the car maker. That’s why some members of Congress are a little upset about GM’s continued practice of destroying important documents. [More]
Heated Wiper Fluid System Wants To Light Your GM Car On Fire
By 6.8.10
1.5 million GM vehicles are equipped with a heated windshield fluid system that was previously recalled due to fires– but that apparently is still smoking even after being fixed.
The Detroit Free Press says that GM kept monitoring the part in question — the so-called HotShot system made by supplier Micro-Heat. After the first recall, GM withheld payments to cover its costs, which forced the company to liquidate. Now that the supplier is out of business and the product is still a potential fire hazard, GM is offering to remove the system and compensate owners with $100.
Holy Crap, GM Made Money
By 5.17.10
GM announced today that it made $865 million in the first quarter, its first profit since 2007. Revenue was up 40%, and the NYT says that GM is on track to being a public company again as soon as the 4th quarter. [More]
Can You Trust Those Awards You See In Auto Ads?
By 5.10.10
If you pay attention to all the various automobile ads on TV, you’d probably notice that just about every make and model of vehicle has won some sort of award from some magazine, or that its been “rated highest in its class” by any number of organizations. But what many people don’t know is that these awards and thumbs-up ratings almost always cost the car companies a pretty penny. [More]
GM Hires Former Hyundai Marketing Guru To Bail Out Its Image
By 5.6.10
Following the media drubbing of their not-exactly-true “We paid the government back” ad, GM has snatched the marketing whiz who most recently help Hyundai burnish its public image. [More]
Calling BS On GM's "We Paid The Government Back" TV Ad
By 4.30.10
Unless you don’t have a TV, you’ve probably seen the new ads for General Motors where GM CEO Ed Whitacre touts the amazing rebound of the car manufacturer, and how they repaid their “government loan in full, with interest, five years ahead of the original schedule.” Yeah, well that might not be exactly true. [More]
Worst Company In America Sweet 16: Anthem BCBS VS GM
By 4.8.10
It’s the bankrupt against the morally bankrupt! In the first round of WCIA 2010, bailed-out car giant GM surprised early prognosticators by handily beating recall-happy Toyota. And in one of the closest fights so far, rate-hike-happy Anthem beat Assurant by an uninsured broken nose. [More]
GM Loses Another $4.3 Billion; Expects To Be Profitable In 2010
By 4.7.10
Since General Motors declared bankruptcy last July — and received over $50 billion in federal aid to stay afloat — the company has really managed to turn things around, only losing $4.3 billion in the months since. And some people wondered how GM beat out Toyota in their Worst Company In America match-up. [More]
Should The Hummer Be Saved?
By 4.6.10
Just a few weeks ago, it seemed like a done deal that General Motors would be putting their Hummer brand out of its misery. But a group of Hummer fans (because who doesn’t love an occasional Hummer?) is going to make a final stand for their favorite vehicles at a summit in Chicago this weekend. [More]
GM To Install Brake Override Software Worldwide By 2012
By 4.5.10
Perhaps in a move to not win Consumerist’s Worst Company In America title, General Motors announced today that they plan on installing brake override software in all GM cars with automatic transmissions and electronic throttle control worldwide by 2012. [More]
Worst Company In America 2010: Toyota VS GM
By 4.2.10
A bailed-out, bankrupt car company VS one dealing with its first major crisis. The two companies have a long history together… in fact up until recently, they operated a plant in California. Both are unpopular right now… but which one is worse? [More]
Pay Czar Cuts Exec Pay 15% At AIG, GM And Others
By 3.24.10
Kenneth Feinberg, better known as the Obama administration’s pay czar, announced yesterday that he’d cut salaries on top executives at 5 companies that are still using bailout cash. [More]
Cadillac Is Ashamed Of The GM Name
By 3.10.10
In a move to remove some of the taint of bankruptcy and bailout, luxury car maker Cadillac is taking steps to distance itself in the public eye from its parent company, General Motors. [More]
