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Muscle Car Wars Heat Up as Chevy Reveals New 2017 Camaro ZL1

Gen-6 model adds another 200 hp to the equation.

by on Mar.16, 2016

The 2017 Chevrolet Camaro ZL1 bumps the pony count up to 640 with its LT4 V-8.

If you think the battle for the White House has gotten nasty, just check out the fight for supremacy in the pony car market. Ford and General Motors are lobbing everything but hand grenades at one another, and GM is firing the latest shot with the announcement that it will bring out an all-new version of the Camaro ZL1 next year.

Chevy gave a handful of automotive journalists a look at the new model – and a brief ride — during a sneak preview at the Spring Mountain race track an hour outside Las Vegas. And, if seeing is believing, it only takes a lap inside the 640-horsepower monster to know that the bowtie brand is playing for keeps.

We perform!

“We’re delivering world-beating levels of performance, on the track and off,” proclaimed GM President Dan Ammann, before strapping on his element and heading out onto the track.

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GM Launches New Car-Sharing Service Maven

Move follows big investments in ride-sharing firms Lyft, Sidecar.

by on Jan.21, 2016

A motorist uses a smartphone to line-up a short-term rental from the new Maven service.

General Motors apparently hopes to become an industry maven when it comes to alternative mobility programs. After investing in two ride-sharing services, Lyft and Sidecar, this month, the Detroit automaker says it will start a new car-sharing company called Maven – a Yiddish word for “expert.”

GM is just one of a growing number of automakers who are looking for alternative ways to appeal to potential customers at a time when younger consumers seem less interested in owning a vehicle. Both Daimler AG’s Mercedes-Benz brand and Ford Motor Co. are making similar forays, Ford CEO Mark Fields saying his goal is to transform the smaller Detroit maker into a “mobility” company.

Stay on Top of a Changing Auto Industry!

“With the launch of our car-sharing service through Maven, the strategic alliance with ride-sharing company Lyft, and building on our decades of leadership in vehicle connectivity through OnStar, we are uniquely positioned to provide the personalized mobility services our customers expect today and in the future,” GM President Dan Ammann said.

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Buick Avista Scores Big – But Unlikely to See Production

Coupes are losing ground as upscale buyers shift to SUVs and CUVs.

by on Jan.18, 2016

Even if Avista doesn't make it to production, it's likely to influence the brand's future designs. Avista photos by Len Katz.

Of the dozens of new cars, trucks, crossovers and concept vehicles to make their debut at this year’s North American International Auto Show, perhaps none has generated as much buzz as the Buick Avista.

The striking 2+2 show car got a special preview the night before the auto show’s official media preview began and has continued to draw crowds since the 2016 NAIAS opened its doors to the public with a splashy black tie charity preview last Friday.

Your Insider!

To turn a popular movie cliché on its head, if they come, will GM build it? That was a question TheDetroitBureau.com has posed to a number of senior General Motors executives, including President Dan Ammann. But for those who might be ready to plunk down a deposit, the news isn’t good.

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GM Facing Tumultuous Annual Meeting

Ignition switch debacle likely to be front-and-center.

by on Jun.10, 2014

GM CEO Mary Barra, flanked by Dan Ammann, left, and Mark Reuss, right, will be facing some tough questions during today's GM shareholders meeting.

Fewer than three dozen stockholders showed up for the General Motors shareholders meeting in Detroit a year ago but the total is expected to be significantly higher as GM faces the fallout from the defective ignition switch that has led to at least 13 deaths and dozens of injuries as well as the recall of 2.6 million vehicles.

The GM Recall Survivors network, meanwhile, is holding a demonstration outside the June 10 meeting to call attention to what it claims was GM’s efforts to cover up the full extent of the problems created by the defective ignition switch and to evade responsibility.

Beyond the Headlines!

Laura Christian, whose daughter died in an accident in 2005 caused by the defective switch,   told reporters during a press conference outside GM’s Detroit headquarters that she has now collected evidence via the GM Recall Survivors Facebook page that the defective switch has been involved in as many as 120 fatal accidents, insisting the list is continuing to grow.

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GM Forecasts Profits to Rise in 2014

Maker credits new vehicles and general growth in global auto sales.

by on Jan.15, 2014

GM President Dan Ammann during the unveiling of the new Corvette Z06 on Monday.

With a new management team today taking office, its first dividend planned in nearly six year, and its stock already on the rise, General Motors has yet more news likely to make investors happy, the Detroit maker forecasting that its earnings are likely to rise “modestly” in 2014.

The maker credits a variety of factors that include an improving outlook for the overall global auto industry – but primarily due to a wave of its own new products that it hopes will yield increased sales and market share in key markets.

Automotive Insight!

“We continue to perform well in the two most important markets in the world, the U.S. and China,” said Mary Barra, who took over as GM’s new CEO today. “We’re taking advantage of our strength in these countries to restructure and make the investments necessary to grow profitably in other parts of the world.”

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GM Names New CFO, Restores Dividend for 1st Time Since 2008

Moves come as Mary Barra set to become maker’s first female CEO.

by on Jan.15, 2014

New GM CFO Chuck Stevens.

General Motors has named Chuck Stevens as its new chief financial officer, replacing current CFO Dan Ammann, who became the Detroit maker’s new president later this week as part of a broad management shift that sees Mary Barra become the new chief executive officer.

The move was approved by the GM board of directors which also restored the maker’s divided for the first time since July 2008, at a time when it was spiraling towards bankruptcy. Stockholders will receive a 30-cent dividend per share.

Financial News!

The announcements come just weeks before GM is expected to report its 16th straight quarterly profits, a string that began soon after its emergence from Chapter 11 protection with the help of a nearly $50 billion federal bailout. The U.S. Treasury last month sold off the last of its holdings in the maker – at a final loss of about $10 billion.

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Akerson Retiring, Barra Becomes New GM CEO, with Ammann President

51-year-old Barra is industry’s first woman chief executive.

by on Dec.10, 2013

GM names Barra its new CEO - and the first woman to lead a global automaker.

Just a day after the federal government ended its ownership stake in the post-bankruptcy General Motors, the automaker has announced a sweeping change in its management line-up.  That includes the retirement of Chairman and Chief Executive Dan Akerson, with Mary Barra taking his place as CEO of January 15, 2014.

The well-respected Barra, currently GM’s global product development czar, will become the first woman to serve as the chief executive officer of any major auto manufacturer in the world.

Your Auto News Source!

Her new second-in-command will be Dan Ammann, a New Zealand native who signed on as GM chief financial officer after assisting the maker through its 2009 bankruptcy.

“I will leave with great satisfaction in what we have accomplished, great optimism over what is ahead and great pride that we are restoring General Motors as America’s standard bearer in the global auto industry,”  Akerson said in a message to the maker’s 85,500 employees.

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GM CFO: Devalued Yen Helps Japan Sell More Vehicles

Japanese makers gaining share in Southeast Asia, Australia due to low Yen.

by on Aug.09, 2013

GM's Dan Ammann asserted that Japanese automakers are benefitting from a weak yen in Southeast Asia and Australia.

The devaluation of the yen is clearly helping Japanese carmakers in the Southeast Asian and Australian markets, General Motors’ chief financial officer said.

GM CFO Dan Ammann also said the decline in the value of the yen has created new competitive challenges for GM in markets such in Southeast and Australia.

Plugged In for News!

“We’re seeing more pressure in those markets than in the U.S,” he said during an industry conference in Traverse City, Mich. (more…)

GM Offers Sneak Peak at New Midsize Pickups

New Chevrolet Colorado and GMC Canyon to debut in late ‘14.

by on Aug.08, 2013

GM wants to "redefine" the compact truck segment with the new Colorado and Canyon pickups.

General Motors expects to redefine the compact pickup truck segment when it returns to the market with redesigned versions of the Chevrolet Colorado and GMC Canyon in the second half of 2014.

The Detroit maker hopes the new models will deliver a 1-2 punch after the debut of all-new versions of its full-size Chevy Silverado and GMC Sierra trucks for 2014.  Speaking at an industry conference in Traverse City, Michigan, GM chief financial officer Dan Ammann said the Colorado and Canyon will offer customers capable, versatile, fuel-efficient alternatives to full-size pickups.

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“We see a segment that’s not being addressed,” he stressed, adding that, “We see a real opportunity,” once the trucks reach U.S. showrooms late next year.

GM’s confidence stands in sharp contrast to the position taken by Ford Motor Co., which abandoned the U.S. midsize truck market when it abandoned the long-lived Ranger pickup after the 2012 model-year. Ford has since introduced a new Ranger for overseas markets but says it does not see a solid business case for selling that truck in the U.S.

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GM Offering Lump-Sum Buyouts to 42,000 White-Collar Retirees

COO hints similar offer could follow for union workers.

by on Jun.01, 2012

GM CFO Dan Anmann wants the maker to focus on its "core business."

Taking a cue from its cross-town rival, General Motors will offer lump-sum buyouts to 42,000 salaried retirees while transferring the pension program of the rest of its 118,000 white-collar retirees to Prudential Insurance.

Those moves should reduce GM’s pension liabilities by about $26 billion without reducing benefits, Chief Financial Officer Dan Ammann explained during a conference call with analysts and reports.  And it could serve as a model for a similar program aimed at reducing GM’s even bigger blue-collar pension liabilities which remain significantly underfunded.

Keep Up!

“We’re going to continue to look for opportunities down the road,” said the GM CFO, though he declined to discuss whether the prospect of major changes to the pension program of hourly workers has yet been raised with the United Auto Workers Union.

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