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GM officially bankrupt
Mon, 01 Jun 2009GM finally enters Chapter 11 Bankruptcy The US Government is to provide £30 billion to fund the transition, with GM being split in to ‘Old GM’ and ‘New GM’. In exchange for the money the US Government will take a 60% stake in ‘New GM’ with all the toxic assets and liabilities being disposed of through ‘Old GM’. The restructuring will allow GM to survive on a third less sales than before (10 million instead of 15 million).
Chevy Volt will do 230mpg
Tue, 11 Aug 2009GM are claiming 230 mpg for the Chevy Volt The premise is that the vast majority of buyers for the Chevy Volt will do no more than 40 miles a day. Which just happens to be the range that the Volt has. So I suppose they could have worked out the cost of the electricity to fully charge the Volt, converted that in to the cost of petrol and come to the conclusion that it does 230mpg.
Citroen C5 Airscape concept
Fri, 24 Aug 2007Following the C-Airlounge of 2003, the C-Airdream of 2005 and the C-Airplay of 2006, is the C5 Airscape. Due to make its international debut at the Frankfurt Motor Show next month, this new Citroen concept acts as a spoiler for the forthcoming upper-medium C5 replacement dues soon. Unlike the forthcoming production car, the concept is a four seat coupe cabriolet which is aiming to show a new level of premium quality for the brand.