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Saturn alerts customers it is considering a spinoff
Thu, 19 Feb 2009Saturn has begun alerting customers that it may be spun off by General Motors as an independent marketing and distribution company. In a letter sent to about 1.5 million Saturn owners Wednesday night, Saturn said it would have to line up products to sell--either from other manufacturers or from GM in the role of a vendor--after GM's current commitment to build Saturn products ends after the 2012 model year. "The Saturn Distribution Corporation already exists as an indirect subsidiary of GM," wrote Jill Lajdziak, general manager of Saturn, in the letter.
Car sales plunge, Bank of England cuts rates
Thu, 06 Nov 2008New car sales plunge in October: Renault sales were down by more than half By Nigel Wonnacott Motor Industry 06 November 2008 12:30 Following the sixth monthly decline in new car sales this year (down 23% this month), economists have revised market forecasts downwards, while the Bank of England has cut interest rates by 1.5%. October’s 23% drop was the worst so far and trade body SMMT now fears sales could end the year at just 2.15 million cars. That’s 8% lower than the 2.34 million predicted to leave showrooms back in January and would be the worst market performance in more than a decade.
Mercedes Vision S500 plug-in Hybrid Concept at Frankfurt
Wed, 09 Sep 2009The Mercedes S500 Hybrid Plug-In will show at Frankfurt Update: Mercedes has now confirmed our S500 Hybrid story and we have images of the S500 hybrid at the bottom of the page The S500 Vision will feature a V6 petrol engine paired with a 10kw lithium-ion battery pack and a 44kw motor. This combination will allow the hybrid Mercedes to travel over 18 miles on battery power alone. When the battery discharges the electric motor will power up the petrol engine.