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Former General Motors CEO nets multimillion-dollar retirement package
Wed, 15 Jul 2009Former General Motors CEO Rick Wagoner will officially punch out on Aug. 1 with a compensation package worth almost $8.6 million over the first five years. The deal is significantly lower than what he could have received; it would have been $23 million at the end of last year, Reuters reports.
Used car sales return to pre-recession levels
Wed, 18 Sep 2013USED CAR SALES reached 7.1 million units in 2012, on a par with pre-recession levels and a climb of 6.4%, according to a comprehensive market report. The 2013 BCA Report by British Car Auctions valued the used car market a £38.1 billion in 2012, putting it £5.8 billion ahead of the new car market over the same period. In particular sales of younger used cars (0-2 years) increased significantly, rising by 18.6% to 762,000 and reversing a three year trend of falling volumes in this age sector.
Chevrolet and Disney develop virtual design experience
Mon, 12 Nov 2012Chevrolet designers and Disney ‘Imagineers' will offer Walt Disney World Resort guests a glimpse inside a professional design studio. After 18 months of collaboration in the fields of industrial, automotive design to architecture and animation, visitors will be immersed in a multi-sensory virtual experience. The experience gives visitors the chance to create their own designs – cars, trucks or crossovers – with some help from Chevrolet designers before test driving it on virtual track surfaces that imitate the real performance tests.