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Koenigsegg reportedly rejects 81 out of 218 U.S. Saab dealers

According to Automotive News, Federal Express letters arrived at 81 of Saab's 218 dealers on Thursday stating that their franchises had not been selected to move forward and become a dealer for the post-sale entity, Saab Cars North America. The package from General Motors said that Swedish supercar maker Koenigsegg, Saab's buyer, had selected only certain stores based on its business plan requiring strong, well-located dealers showing profits and high volume. All Saab dealers signed termination agreements in June when GM entered ... Read more →

REPORT: Saab deal between GM and Koenigsegg finalized Michael Harley

The deal has been signed, but the cash still hasn't changed hands. In a nutshell, that's where the share transfer agreement between GM and Swedish manufacturer Koenigsegg sits. Those close to the ...

REPORT: GM to announce tentative sale of Hummer tomorrow Damon Lavrinc

According to a report by the Wall Street Journal, General Motors plans to announce a tentative sale of the Hummer brand less than a day after filing for Chapter 11 bankruptcy protection. Although GM ...

REPORT: BMW warns employees of looming pay cuts Michael Harley

With 58,000 fewer new vehicles sold in 2008 and a net profit nearly 90 percent lower than it was in 2007, The Independent is reporting that BMW is cutting its board member bonuses by 40 percent. In ...

Saab head says five possible buyers identified Michael Harley

Two months. That's how long the world will have to wait for Saab to identify its new owner, according to Managing Director Jan-Ake Jonsson. Although he didn't specifically mention candidates, Jonsson ...

GM offering buyouts and bonuses to HUMMER dealers 1 year ago on Autoblog

Click on the above image for our 2009 Hummer H3T high-res gallery Taking heed of lessons learned when it shed the Oldsmobile brand, General Motors is quietly negotiating with HUMMER dealers to prevent lawsuits if the brand is sold or extinguished. Even though confidentiality agreements have been ...

J.D. Power lowers U.S. sales forecast... again 1 year ago on Autoblog

J.D. Power and Associates have lowered their U.S. sales light-vehicle forecast for 2008 to just 14.2 million units. This is the third time the global information services company have updated their numbers. In March, they announced that sales would not hit their initial 15.7 million estimate, ...

Hyundai offers scorching deal on Genesis leases 1 year ago on Autoblog

Click on the image above for our high-res Hyundai Genesis gallery To lure buyers towards the all-new 2009 Hyundai Genesis luxury sedan, the Korean automaker is aggressively pricing lease programs. Traditional Hyundai customers choose to lease about 10-12 percent of the time. The Genesis, ...

Volvo's suitor of the week: China's Chery 1 year ago on Autoblog

Following up on our report last month about Volvo possibly going to the Chinese, state media is now reporting that Chery Automobile, one of the largest independent and fastest growing Chinese auto manufacturers, has its eyes on the Swedish automaker. Although officials at Chery rule out the ...

Chrysler selling Pacifica Design Studio to Mercedes-Benz 1 year ago on Autoblog

The Chrysler Pacifica Advance Design Center, first opened in 1983, is credited with penning the Plymouth Prowler concept (pictured above), Dodge Challenger concept, Jeep Compass, and Dodge Intrepid concepts. Unfortunately, the Design Center closed earlier this year as Chrysler streamlined ...

Brits preorder 700 Nissan GT-Rs in 48 hours 1 year ago on Autoblog

Click on image above for a high-res gallery from our GT-R First Drive! Nearly 700 Brits plunked down pre-order deposits of £3,500 (about $7,000) within the first 48 hours of Nissan's hot GT-R going on sale, proving demand for the latest Japanese supercar doesn't seem to be diminishing. ...

Tata to (finally) announce Jaguar, Land Rover purchase March 5 or 6 1 year ago on Autoblog

In what looks to be a merciful end to the world's longest foregone conclusion, Tata Motors will reportedly announce its purchase of Jaguar and Land Rover on either March 5 or 6. The announcement is expected after the first press day of the 2008 Geneva Motor Show, so as not to steal the limelight ...

Another Malaysian automaker interested in buying Lotus? 1 year ago on Autoblog

According to a report by Reuters, a Malaysian company has approached Proton Holdings and asked if the automaker would be willing to part with its controlling stake in Lotus. The unnamed company is interested in purchasing the 63.75-percent of shares of the British automaker and automotive ...

Now-famous Schumacher taxi for sale 1 year ago on Autoblog

We just can't get enough of this saga. First, Michael Schumacher, family in tow, commandeers a taxi to get to the airport. Then the local police decide to launch an investigation into the purported violation of Germany's Personnel Transport Act. Now the cab driver, a hundred euros richer thanks to ...

France family will not sell NASCAR 1 year ago on Autoblog

Nothing is better at propagating a rumor like a nasty social disease than the internet, and the France family just got a lesson. A report surfaced in Europe that an investment firm based there was investigating the potential purchase of NASCAR. Brian France, chairman of NASCAR, dismissed the report ...

Mahindra & Jaguar? Not this time, one Indian bidder drops out 2 years ago on Autoblog

At least one of the bidders in the race to buy Jaguar and Land Rover has dropped out of the competition. Indian manufacturer Mahindra & Mahindra apparently couldn't get the guarantees they wanted regarding powertrain supplies. With new limits on CO2 emissions expected to be enacted in the EU ...

Mixed message: JD Power now reports hybrids will have record year 2 years ago on Autoblog

A couple weeks ago, J.D. Power released its Alternative Powertrain Study, which found that hybrid consideration among new car buyers is slipping, while interest in diesels is growing. Today J.D. Power released its 2007 U.S. Hybrid Vehicle Forecast Second Quarter Update, which projects that hybrid ...

A Swedish solution for taking Volvo off Ford's hands 2 years ago on Autoblog

Ford: "Volvo's not for sale." BMW: "You sure?" Ford: "Volvo's not for sale." Cerberus: "You sure?" Ford: "Volvos' not for sale." And so it goes. Another week, another rumor of a possible Volvo suitor. Ford's staked a lot of their future on Volvo technology, so it's understandable that of all the ...

RE: buhbye - Zetsche bids farewell to Chrysler employees via e-mail 2 years ago on Autoblog

Looking to exit, stage left on a melodious note, Doc Zee has bid the Chrysler team a semi-farewell via email. The message was a polite "thank you," instead of the possibly more appropriate "thanks for letting us swoop in from Stuttgart, blast through your cash and let your product line languish." ...

eBay Find of the Day: "Rambo Lambo" LM002 2 years ago on Autoblog

The terms "exotic" and "SUV" seldom go together. With few exceptions, the closest you might get is the Porsche Cayenne, or in reference to the rig you use to tow your supercar from track to concours. One notable exception is the Lamborghini LM002. Nicknamed the "Rambo Lambo", it bridged the gap ...

REPORT: Up to six bidders vying for Jaguar and Land Rover 2 years ago on Autoblog

Up to six different potential buyers are expected to place bids for the Jaguar and Land Rover brands when the auction for the British automakers gets underway later today. In the running are private equity firms Cerberus, Ripplewood Holdings and One Equity Partners, plus new entrants Tata Motors and ...

India's Tata Motors interested in Jaguar and Land Rover 2 years ago on Autoblog

It doesn't seem that anyone else has shown interest in Jaguar or Land Rover – some rumored suitors have outright denied any interest – but Indian industry giant Ratan Tata is contemplating adding the luxury marques to his Tata Motors unit. Tata has set his advisory bloodhounds after the ...

Sale of Chrysler will cost DCX $673m 2 years ago on Autoblog

In the history of big business, few mergers and takeovers can hold a candle to the $36 billion "merger of equals" that Daimler pulled off in 1998. When the dust settled, DCX stock was up in the stratosphere, and German executives were hailed as conquering heroes. Only nine years later, the folks ...

Volvo says it won't be building in North America 2 years ago on Autoblog

There have been periodic rumors of a United States assembly plant for Volvo cars since at least the early 1980s. There was a North American construction arm of the Swedish carmaker, situated in Nova Scotia, but that plant has been shuttered for several years now. Volvo CEO Fredrik Arp has told ...

Jurgen Schrempp could make $134 million from the sale of Chrysler 2 years ago on Autoblog

Jurgen Schrempp was a visionary. He didn't pull off his vision of massive synergies and massive profits for DaimlerChrysler. He did, though, manage to conjure and pull off the vision of massive profits for himself. In spite of a $36 billion dollar "merger" that turned almost immediately into a ...

Chrysler Corp. gives CAW written guarantee jobs are safe 2 years ago on Autoblog

You didn't want to cross paths with Canadian Auto Workers President Buzz Hargrove on Monday after he found out that Chrysler had been sold to the private equity firm Cerberus Capital Management. The CAW prez was absolutely livid, pissed even, that the CAW was never consulted, not even informally, ...

Autoblog Podcast #66 2 years ago on Autoblog

The last couple of days, we've all been inundated with news of Chrysler's sale to Cerberus, and that's what we lead Podcast #66 with. As much as it makes analysts and pundits foam at the mouth, news about the sale is a pretty dry affair. We'll be keeping an eye on how things go with the newly ...

LaSorda speaks: We're not breaking up the band! 2 years ago on Autoblog

The newly minted Chrysler Corp. held its first press conference today and carryover CEO Tom LaSorda made it clear that all of Chrysler's brands will be kept together after the sale to Cerberus Capital Management goes through. Many have been wondering if Cerberus would pull an Edward Lewis à ...

Cerberus buying Chrysler for $7.4 billion 2 years ago on Autoblog

We've already reported on the forthcoming sale of Chrysler to Cerberus Capital Management, but until now, all the cited reports were mum on price. The New York Times has that figure and it's a cool $7.4 billion. A press conference to announce the deal is expected in about three hours, at 8 AM EST. ...

Magna may get financial aid from Russian firm to buy Chrysler 2 years ago on Autoblog

Magna International, along with fellow Canadian company Onyx Corp., has a bid in for a stake in Chrysler, and now additional funds may be coming from Russia. Edmunds' Auto Observer is reporting that Russian billionaire Oleg Deripaska is ponying up $1.54 billion to expand Magna into Eastern Europe, ...

Ford considering selling its Arizona proving ground 2 years ago on Autoblog

Following on the heels of General Motors selling its Mesa, Arizona Desert Proving Ground, Ford has decided to look at doing the same with its own Arizona facility. The Arizona Proving Ground located near Lake Havasu is a 3,700 acre facility that employs 200 permanent staff in addition to Ford ...

Magna may be the only serious bidder for Chrysler 2 years ago on Autoblog

In spite of the non-discrete presence of Wolfgang Bernhard around Chrysler headquarters in Auburn Hills last week, a German paper seems to think that only Magna is really serious about taking over the company. Automobilwoche reports that Cerberus, of which Bernhard is part of the team, and the ...

Job cuts possibly looming at Jaguar 2 years ago on Autoblog

Mulally himself has recently stated that Ford is behind Jaguar, that Ford has no plans to sell Jaguar, and that Ford continues to invest in Jag because the leaping cat is part of the Way Forward Plan. Ford's reduced first quarter loss came with the help of a 36% improvement in profitability within ...

Chrysler bidding continues, Magna in front 2 years ago on Autoblog

WLNS television out of Lansing, Michigan, reports on its web site that analysts have said Magna International is leading the race to win (buy, rather) The Chrysler Group. Magna is the Canadian parts supplier to Chrysler and several other automotive companies, and recently brought on Onex, a Canadian ...

Chrysler workers making long shot bid to buy automaker 2 years ago on Autoblog

The Detroit News is reporting that a group of 25 Chrysler employees in Toledo have formed a group called the "Employee Buyout Committee" and are actively exploring the necessary steps required to see the fate of Chrysler end up in the hands of its employees. Their proposal would give Chrysler ...

Rare info on Chrylser bidder Cerberus reveals a "fierce reputation" 2 years ago on Autoblog

Cerberus was the mythological 3-headed dog that guarded the gates of Hades. Cerberus Capital Management is the very real private equity firm -- one of the bidders in play for the Chrysler Group -- that guards the privacy of its dealings almost as jealously. USA Today takes a look at the firm and ...

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Autoblog Podcast #152: Paukert Enhanced!

Chris Paukert joins the usual crew of Chris, Sam, and Dan, summarily classing up the joint.

 
 

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