April 2009
Chevrolet Volt: First Media Test Drives Given
By Michelle Krebs April 30, 2009The dance of the seven veils continues as General Motors recently began offering early, early test drives of its highly anticipated 2011 Chevrolet Volt. Edmunds' Inside Line Senior Editor Dan Pund was among the early test drivers of the engineering development car, commonly known in the industry as a "mule." Pund called his test drive more of a progress report than a final assessment and reports its development is coming along nicely. But much more is yet to be known about the Volt, that is supposed to come out near the end of 2010. more
Chrysler's LaSorda Will Retire; Nardelli Returns to Cerberus
By Michelle Krebs April 30, 2009By Michelle Krebs AUBURN HILLS, Mich. -- Former Chrysler CEO Tom LaSorda, most recently vice chairman and president, said Thursday in a conference call that he will retire. He gave no effective date for his retirement but said he will not stick around through Chrysler's Chapter 11 bankruptcy. Current Chrysler CEO Robert Nardelli said he, too, would be leaving Chrysler after it emerges from bankruptcy to return as an advisor to private equity firm Cerberus Capital Management, which owned Chrysler before Thursday's deal with Italy's Fiat was announced. Chrysler President and Vice Chairman Jim Press said he has had no discussions regarding his employment more
Chrysler Plants Shut Down Until Bankruptcy Over; CEO Nardelli Out
By Bill Visnic April 30, 2009By Bill Visnic Less than an hour after confirming it filed a petition for Chapter 11 bankruptcy, Chrysler LLC issued a press release with initial details of its proposed alliance with Italy's Fiat S.p.A. Most intriguing is a statement (near the bottom of the release) saying most Chrysler manufacturing operations will shut down starting Monday -- and, although the language is vague, presumably not restart until the restructured company emerges from bankruptcy. Also, Chief Executive Office Robert Nardelli will leave the company "following the emergence of the new [Chrysler] company from Chapter 11 and the completion of the alliance with more
Chrysler's Green Programs Likely To Survive Bankruptcy, Fiat Alliance
By John O'Dell April 30, 2009Company Can't Afford To Drop EV and Plug-in Development If It Hopes for a Future Chrysler green prototypes include plug-in hybrid Jeeps and Town & Country van and Dodge Circuit EV. By John O'Dell, Senior Editor Some quick thoughts on what Chrysler's bankruptcy and reorganization may mean for the company's green initiatives. Chrysler is going to continue to be run largely by government dictate as it wends its way though bankruptcy -- the Obama administration will be selecting new board members and the Feds will be providing much of the company's working capital -- and the government has made it clear more
Chrysler Files for Bankruptcy and Combines With Fiat
By Michelle Krebs April 30, 2009By Michelle Krebs DETROIT -- President Obama announced Thursday that Chrysler will combine with Italy's Fiat but is filing for Chapter 11 reorganization to get the job done. In a White House press conference Thursday, President Obama chastised the banks and hedge funds that refused a government-sweetened deal to reduce Chrysler's debt owed to them. Obama called them "speculators" who refused to make sacrifices when the workers, plant communities, major lenders and dealers did. As a result of debtholders holding out, the president said, Chrysler is filing for bankruptcy to "clear away remaining obligations so the company can get back on its feet more
President Obama Set To Discuss Chrysler; Bankruptcy Path to Fiat Deal
By Michelle Krebs April 30, 2009By Michelle Krebs DETROIT -- Chrysler will live to see another day as part of the growing empire of Italy's Fiat, but a Chapter 11 bankruptcy filing is the path that Chrysler and Fiat will take to get there. President Obama will hold a briefing on Chrysler at noon Thursday. Word is that he will announce Chrysler will file bankruptcy, likely in New York. The hope is for a quick in and out of bankruptcy, with Chrysler emerging as a more viable company with only the good assets under Fiat ownership. On Wednesday night, negotiations with Chrysler's lenders over reducing the automaker's debt collapsed. At the same time, more
Obama Lauds Japanese for Plug-In Development, But U.S. Carmakers Came First
By John O'Dell April 30, 2009Plug-in hybrid advocate Felix Kramer says he was heartened when President Obama, answering the final question of Wednesday evening's prime-time press conference "picked plug-in hybrids as the model for his hopes and expectations" for American industry. ----------Chevrolet was first to test plug-in technology with Volt concept in January 2007.---------- We're happy, too, that the president sees plug-ins as a metaphor for progress, but we're concerned about his apparent belief that U.S. automakers are trailing the Japanese on this technology. In responding to a reporter's question about government's role in rescuing troubled businesses, Obama said, in part, that he wants more
Edmunds Driver Gets Kick Out of Chevrolet Volt Test Mule
By John O'Dell April 30, 2009Financially struggling General Motors Corp., interested in getting as much positive press as it can these days, is making a rough draft of its Chevrolet Volt plug-in hybrid available to automotive journalists for limited test drive sessions at the company's research center. InsideLine's Daniel Pund took a spin the other day and found it to be "more of a progress report than a final assessment." GM, which has a month to get everyone signed on to its recovery plan if it wants to avoid a government-forced Chapter 11 bankruptcy reorganization, has pinned a lot of its future on thesuccess of more
Mercedes To Begin Limited Production of B-Class Fuel Cell Vehicles
By John O'Dell April 29, 2009German Car Maker Also Rolling Out Battery-Electric Smart Cars This Year Mercedes-Benz has been at the forefront of fuel-cell vehicle development and now says that it plans to begin producing a small number of its B-Class cars (left) outfitted with the hydrogen-to-electricity systems. The B-Class fuel-cell electric vehicles would begin rolling out in Europe by the end of the year, apparently for testing in the real world, the automaker told reporters during a program held in Germany this week to show off a student-built experimental fuel cell car, the F-Cell Roadster (more about that at InsideLine). During the program, Mercedes executives more
Chrysler Bankruptcy: It's Official as Case No. 09-50002
By Michelle Krebs April 30, 2009By Michelle Krebs It's official: Chrysler has now filed for bankruptcy. Case No. 09-50002. The bankruptcy pleadings were officially filed Thursday afternoon, shortly after President Obama announced Chrysler was going into bankruptcy despite its signed alliance with Italy's Fiat. more