Faced with miserable sales and a brutal economy, General Motors has reverted back to employee pricing for non-GM employees and family members. You may remember the last employee pricing campaign in 2005 that led to record summer sales followed by a miserable fall due to the fact that everybody looking to buy a vehicle pulled their purchase decision forward. This time around, only customers that get a unique PIN from an employee will receive the special pricing, and every GM employee gets one PIN to give away. That translates to roughly 108,000 vehicles that are eligible for special pricing, and only active employees are eligible to participate. Left out of the discounted car sell-athon is the General's considerable pool of retirees, which is larger than the sum of active workers. GM is hoping the promotion will give sales a boost without resorting to wholesale incentives to everyone, and with July rumored to be just as bad as June, the General can use all the help it can get.
Click above for high-res gallery of the Toyota Prius
If the Prius went mainstream when Toyota bumped production to 280,000 worldwide units per year in 2007, the fuel efficient hybrid is now primed to kick project green to the next level. When Toyota begins producing the next gen Prius, it'll do so with more factory space than ever dedicated to the universal symbol for fuel efficiency, making it possible to produce 480,000 vehicles per year. The Japan-based Tsutsumi factory, which currently builds five different vehicles, will stop making the JDM Wish minivan to allow for more Priuses. Even more Prius capacity will be available beginning in 2010, when the Japanese automaker's new Mississippi plant comes online and begins to produce more of the hybrid.
With the meteoric rise in gas prices, the Prius has gone from a yuppie green statement for politicians and suburbanites to a means for the masses to travel around town without breaking the bank. $4 per gallon gas and a continued lack of competition means Toyota could probably double production again and still sell every Prius it makes.
The Nissan GT-R is a fire-breathing monster, both on the track and on the canyon roads of Southern California. It's been the biggest buzz vehicle of 2008 and could be the most impressive sports car in the history of Nissan. The GT-R is a media star that attracts attention everywhere it goes not on looks, but on the potential to send concrete crying to its mama. Why, then, would there ever be a reason for Nissan to issue a drop-top version of Godzilla? Convertibles add weight and reduce structural rigidity, which doesn't exactly help the GT-R hold up its standing as the king of the 'Ring.
No worries, though. The photo above is nothing more than a reasonably well done photo-chop that shows what the GT-R might look like as a cabrio. Now that we've seen it, we have one word to describe what Nissan executives should say if asked to remove the GT-R's fixed roof: No. Seriously, the GT-R is a functional beast that utilizes automotive science to defy the laws of gravity to beat lighter, more powerful vehicles. And Nissan will likely never satisfy demand for the rarefied coupe. Again, no.
Ford posted an $8.7 billion loss for the second quarter of 2008 that it claims is due to sagging sales in North America and one time charges associated with plant closings. The Blue Oval's brutal second quarter included revenues that were down $5.6B to $38.6B and losses from continuing operations that totaled $1.4 billion. Virtually all the bad news came from North America, as Europe posted a $582m profit, and South America ended the quarter in the black as well. Ford also wrote down $8B in special charges related to its restructuring.
The bigger news came in the form of sweeping changes to Ford's lineup that will begin with switching three truck and SUV plants to car production beginning in December. The Cuautitlan, Mexico; Louisville, KY; and Michigan Truck Plant will all be converted to produce small cars. Cuautitlan will build the Fiesta, and the other two plants will build vehicles based on Ford's next gen C architecture based on the Euro Focus. Below are the main changes Ford announced for 2009 and beyond, and the list is pretty substantial. Note a new car for Mercury, which should deflect rumors that Ford's middle child is getting kicked out of the house. We'll give you more information as we receive it.
Convert the entire Ford, Lincoln and Mercury lineup by 2010
Delay closing Ford Ranger plant from 2009 to 2011
Double hybrid production for 2009
Add European Transit Connect small van to North America in 2009
Add a new Lincoln seven-passenger crossover in 2009
Introduce a new small Mercury for 2010
Add European Ford Fiesta sedan and hatchback in early 2010.
Bring next gen Euro Focus sedan and hatchback in 2010.
Build unibody Ford Explorer in 2010 with fuel savings of 25%
Volkswagen is making money hand over fist right now thanks to cost cutting measures and increased global sales, and the German automaker wants to keep the good times rolling. High commodity prices for items like steel, aluminum and rubber are beginning to eat away at VW's cash horde, so the German automaker may hike the prices of its vehicles. VW marketing chief Detlef Wittig told reporters that he feels automakers are afraid to raise prices in such a competitive sales environment, and that the company was monitoring the situation closely. While VW may not be afraid to pull the trigger on price hikes, it likely still won't ask customers to pony up the entire amount for high commodities. A lot will depend on whether VW's many competitors also jack up MSRPs, and by how much.
It seems as though most automakers here in the States have either announced price hikes or are "thinking about doing it." The market is even more competitive in Europe, so such a decision isn't as easy. Wittig expects several automakers to raise prices in the second half of the year.
The midsized sedan has been growing in all directions for decades, but soaring fuel prices have customers begging for something smaller. GM is heeding the call as it is preparing a smaller batch of next generation Saabs. The next 9-3 was originally slated to be underpinned by the Epsilon II, but in March GM decided to instead utilize the lower-medium Delta architecture. The Delta platform will also be used for the next-gen Chevy Cruze, which is slated to eventually replace the Cobalt. The end result will be a smaller, lighter, more efficient Swedish sedan.
With the 9-3 shrinking, Saab will also need to down-size its planned 9-1, which was originally scheduled to be Delta-based. Speculation has Saab reaching into GM's global architecture bin to use the Gamma platform that currently underpins the Opel Corsa. The idea has legs, too, as the Swedish automaker calls the idea "imaginable." Both vehicles are said to contain small, efficient turbocharged powertrains, which is in line with what Saab already uses. We're all for smaller, more agile Saabs, and killer fuel economy wouldn't hurt either.
Chrysler is losing money by the truck-load, and its vehicles aren't selling, so common sense dictates that team Pentastar was going to start making cuts soon. That time is now, when Chrysler notified workers that it would be cutting 1,000 white collar workers. Chrysler spokesman David Elshoff told employees that the company would achieve its cut target through retirements, attrition, and buyouts, which means people won't be handed boxes and receive security escorts just yet. Chrysler management is making the cuts with the belief that the current economic situation here in the States isn't going to improve any time soon. A quick look at the Pentastar's car lineup shows the privately owned company would be in trouble even if the economy had a rosy outlook. No timetable was given for the white collar cutback.
Click above for high-res gallery of the Corvette ZR1 at Barrett-Jackson
The very first Corvette ZR1 has rolled off the assembly line at General Motors' assembly plant in Bowling Green, Kentucky, and the proud owner of the 638-horsepower hellraiser was there in person to claim his prize. Chevy dealer and Corvette aficionado Dave Ressler won his supercharged Vette at the Barrett Jackson auction back in January for the astronomical sum of $1 million dollars, which equals about 10 times the ZR1's base price of $103,300. Ressler was allowed to sit behind the wheel of his rarified Vette as it completed its assembly run and exited the factory, and let his granddaughter, Ayden Lynn, ride along shotgun. The special ZR1 is set apart from other Blue Devlis with a unique VIN number and a LeMans Blue paint job that will appear on no other car.
After being performance tested, the ZR1 was put in a trailer and carted back to Montana where it will be put in a museum with Ressler's 45 other Vettes, including his #003 1953 Corvette. We know, that's no way to treat a thoroughbred like the ZR1, but at least Ressler's million bucks went to a good cause.
Check out a local news report of the occasion after the jump.
The seesaw battle between GM and Toyota for the title of world's largest automaker is still being waged, and after tallying up global sales for the first half of the year, Toyota has opened up a pretty big lead. The Japanese automaker totaled 4.82m units told, with GM trailing with sales of 4.54m cars and trucks. While Toyota's sales are impressive, they're still off the pace of the 9.85m units the automaker expects to sell throughout 2008. The US and Japan have been the source of Toyota's pain this year, as both markets are in a downturn. In spite of record sales in Asia, Latin America, and Europe, GM had a 3% sales decline in the first half of the year. The entire problem rests solely with the General's performance at home, where sales are down a staggering 16% for the year. The news isn't expected to get much better in the States, as last month was the worst June in 17 years, and sales don't look any more promising in July.
While both GM and Toyota have been shrugging off talk of global sales battles, we're inclined to believe selling the most vehicles on the planet is important to both automakers. And since GM has held the sales lead for 77 years, the Detroit automaker won't feel good if it loses its title. Down nearly 300k units through June, though, it'd almost take a miracle for the General to come out on top in 2008.
After nearly eight years of getting little or no attention from the White House, it seems as though Detroit's automakers will be a major focus the 2008 Election. With the economy looking worse by the day, lawmakers in Washington have been kicking around the idea of a second economic stimulus package to get people shopping again, and Mowtown's lawmakers want in on the money. Michigan's two Democratic senators are attempting to use the prospect of such a bill to include federally-backed loans to help automakers and suppliers build new factories and engineer new models. The $4B would be used to offset the costs associated with the Treasury Department giving automakers $25B in loans at a discounted rate. Automakers have been against such a loan in the past, but with worsening conditions and tighter lending practices the idea is likely to sound much more exciting this time around.
Presumed Democratic Presidential candidate Barack Obama told the UAW in a letter that he supports the $4B in federal aid, stating that he would "provide real solutions necessary to help this industry compete and win in the global economy." Obama also promised tax breaks for consumers that purchase ultra fuel efficient vehicles and tax credits for automakers as well. Presumed Republican nominee John McCain opposes the idea of federally backed loans, but he does support tax breaks to those that purchase fuel efficient vehicles and a $300M in prize money for electric battery powered vehicles
Faced with miserable sales and a brutal economy, General Motors has reverted back to employee pricing for non-GM employees and family members. You may remember the last employee pricing campaign in 2005 that led to record summer sales followed by a miserable fall due to the fact that everybody looking to buy a vehicle pulled their purchase decision forward. This time around, only customers that get a unique PIN from an employee will receive the special pricing, and every GM employee gets one PIN to give away. That translates to roughly 108,000 vehicles that are eligible for special pricing, and only active employees are eligible to participate. Left out of the discounted car sell-athon is the General's considerable pool of retirees, which is larger than the sum of active workers. GM is hoping the promotion will give sales a boost without resorting to wholesale incentives to everyone, and with July rumored to be just as bad as June, the General can use all the help it can get.
The very first Corvette ZR1 has rolled off the assembly line at General Motors' assembly plant in Bowling Green, Kentucky, and the proud owner of the 638-horsepower hellraiser was there in person to claim his prize. Chevy dealer and Corvette aficionado Dave Ressler won his supercharged Vette at the 
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