Cadillac has been waiting a long time to introduce their CTS Coupe in the market. It was approximately two years back that the concept was first introduced and it was supposed to be launched this year itself. Yet, the launch got delayed because of the restructuring done by GM in the month of May earlier this year. In the coming month, the CTS Coupe will be revealed in the Los Angeles Auto Show, though officially it wasn’t scheduled for now.

The wheelbase of the new CTS Coupe is similar to that of the wheelbase of Cadillac’s sedan. The overall height and length of the Coupe is just around two inches less than its sedan models. It abandons the typically prevalent B-pillar styling of the coupes. The door handles of the coupe are also dissimilar to the door handles that were used in manufacturing the Chevrolet’s Corvette. GM is certainly marking distinct changes in its own productions. (more…)

General Motors which had just emerged from bankruptcy on July 10, 2009 has issued its first financial statement since that day. After the bankruptcy was refinanced and reorganized, GM emerged as an altogether new company. Though the finances of the company are still in a tight position, yet GM is looking forward to a more positive outlook and the results in the coming time period will eventually help the company to repay the loan settlements earlier than expected. GM refinanced the bankruptcy with the help a federal aid of $50 million that helped it in re-establishing itself once again as an independent company. (more…)

It seems that the Detroit Big Three are now in great need of government help. The Detroit-based automakers are seeking about $25 billion in federal loans, in an attempt to ride out a steep downturn in the U.S. auto sales.

Recently, at the Democratic National Convention, Ford executives have announced that the company needs low-interest federal loans from the U.S. government. After this, General Motors Vice Chairman Bob Lutz insisted on the government’s approval of the loans to the Detroit Three. “I do think the American automobile business is deserving of government loan guarantees because the financial institutions in the U.S. are so stressed out right now,” said Lutz. (more…)

General Motors announced that it will unveil a production version of its Chevrolet Volt  later this month, as part of the company’s centennial celebration. The automaker will celebrate the 100th anniversary on September 16. The preview of the plug-in hybrid will be shown to employees and media at the company’s headquarters in Detroit.

“The rumors that a production version of the Volt will show up at the celebrations are true,” said an inside GM source. “The car will be a true representation of what the production version looks like and be somewhat different from the concept versions.” (more…)

General Motors has released a teaser picture of the 2010 Buick LaCrosse sedan on late Monday. However, the automaker confirmed that the new sedan would make its world debut at the upcoming Los Angeles Auto Show in November.

The teaser image reveals the logo and a portion of the grill of the car. The Buick LaCrosse is the smallest of all Buick sedans, which resembles the design of the Buick Invicta. GM vice chairman Bob Lutz said that the LaCrosse will use the FWD Delta II platform.

The production of the LaCrosse is expected to start at GM’s Fairfax plant in Kansas, in early 2009. The crossover vehicle will be a global car, which will also build in China with GM’s local partner, Shanghai Auto. (more…)

In an effort to boost the residual values of used cars, General Motor Corp. plans to add new warranty coverage to its used vehicles. The automaker will provide a fully transferable 12-month/12-mile ‘bumper to bumper’ warranty from the time of purchase with no deductible on all GM Certified Used Vehicles and Saturn Certified Pre-Owned Vehicles sold in the United States, announced the company.

The company believes that the new program will help expand sales of its used cars, while at the same time improving residual values. Reportedly GMAC the finance arm of GM has faced major losses in recent months due to plummeting residual values of its leased vehicles, caused by high oil prices, weak economy and shifting consumer preference towards smaller, more fuel-efficient cars. (more…)

In an attempt to boost the droping sales, General Motors Corp. plans to offer employee discounts on almost every brand of the automaker and cash-back on slow-selling light trucks such as the Chevrolet Silverado pickup truck.

The discount offer takes effect on August 20 and it will run through September 2.

GM spokesman John McDonald confirmed on Monday, “We are going to have an employee-discount-for-everyone program.” Further he added, “We are going to issue a press release tomorrow morning with the details.” (more…)

General Motor Corp. announced that it is expanding its XFE (Extra fuel efficiency) line from Cobalt to Chevy Silverado and GMC Sierra pickups, plus Chevy Tahoe and GMC Yukon full-size SUVs, starting in the fall.

The Cobalt was launched with XFE badge in March, 2008 which uses a combination of revised gear ratios, engine recalibration and low-rolling-resistance tires to improve highway fuel economy 9 percent, from 33 miles per gallon in highway driving from the base Cobalt to 36 miles per gallon highway for the XFE line. Reportedly, the Cobalt XFE accounted for about 8 percent of Cobalt sales since its debut. (more…)

In order to settle a shareholder lawsuit, General Motors is planning to pay 277 million dollars pertaining to the fact that the automaker misled its investors which directly led to the inflation of its stock price.

The settlement also comprises of a 26 million dollar payment from Deloitte & Touche, which is the independent auditor for GM’s financial statements.

The cash-strapped automaker which is already involved in a number of cost cutting exercises wants to cover much of the charge through insurance. The automaker said in a filing with the Securities and Exchange Commission that it will cover $200 million of the charge by insurance. The charge of the lawsuit is more than half the $445 million profit, that the company made in its second quarter for its operations in Latin America. (more…)

North America’s largest auto finance company and General Motors finance arm, GMAC is tightening its financial policies including both leases and loans, in response to the tough U.S. auto market.

GM consumers with lower credit, now will have to opt for less expensive vehicles. Otherwise, if they opt for expensive ones, they need to pay higher down payments than the past. The dealers will take care of size of the down payment and employment status of the consumers before the approval of a lease or loan. (more…)