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OEM News

Wednesday, 24 June 2009 08:38

Obama Signs CARS into Law

The new CARS law allows consumers to receive up to a $4,500 voucher to trade in their old gas guzzlers for a more fuel-efficient new vehicle.  Qualifying vehicles are considered passenger cars, mini vans, SUVs and small light-duty trucks that get less than 18 mpg, and large light-duty trucks that get less than 15 mpg city/highway combined.  For passenger cars, if the new vehicle is at least four mpg more fuel efficient than the old vehicle, consumers will receive a $3,500 voucher toward a new vehicle.  If the new vehicle is at least 10 mpg more fuel efficient than the old vehicle, the voucher is good for $4,500.

One week after finalizing its global strategic alliance with Fiat Group, Chrysler Group LLC announced June 17 that it will resume volume production of vehicles with the start up of seven of its North American assembly plants the week of June 29, 2009.

Monday, 15 June 2009 10:44

Pontiac Fans Want their Musclecars

CarGurus(R) (http://www.cargurus.com/), a leading online automotive community, announced the results of its latest survey of 1,693 online automotive consumers worldwide.

Volkswagen announced on June 12 that their sales in May grew by 1.5 percent as the German carmaker continued to buck a downward international trend.

Wednesday, 10 June 2009 04:39

New Brand Presidents for Chrysler

Chrysler's three vehicle brands, Chrysler, Dodge and Jeep, as well as the Mopar parts unit have new presidents of their operations. The new model resembles that of Fiat Group Automobiles, where Fiat, Alfa Romeo and Lancia brands each have executives responsible for their own financials.

UAW retirement fund now majority owner of Chrysler

Chrysler and Fiat announced June 10 that the two automakers have finalized their strategic alliance, forming  Chrysler Group LLC to be headed by Fiat's CEO Sergio Marchionne.  Marchionne is a lawyer with both Canadian and Italian citizenship. Robert Kidder, an engineer and a former CEO of battery maker Duracell and consultant to Ford,  is to be named chairman.

The U.S. House of Representatives has passed House Bill 2751, The Consumer Assistance to Recycle and Save (CARS) Act, sponsored by Rep. Betty Sutton, D-Ohio. This “Cash for Clunkers” bill, which passed with a margin of 298-119, aims to accelerate motor fuel savings nationwide and provide incentives to registered owners of high-polluting automobiles to replace such automobiles with new fuel efficient and less polluting automobiles. Advocates argue that this bill aims to spur new car sales in a relatively short period of time.
       

The US Supreme court rejected appeals filed by three Indiana pension funds, a coalition of consumer groups, and a few individuals, to block Chrysler's sale on June 9.

The U.S. General Services Administration is one step closer to fulfilling its responsibilities outlined in President Obama’s economic recovery legislation.  On June 1, 2009, the agency ordered 14,105 fuel efficient vehicles for the Federal fleet using $210 million of funds from the American Recovery and Reinvestment Act (ARRA). 

General Motors Corp. reached a deal with the National Automobile Dealers Association on franchise terms for the more than 3,500 dealers it plans to keep after it exits bankruptcy, GM and NADA said June 8.