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Some secured lenders object to quick sale of Chrysler
Mon, 04 May 2009A minority group of Chrysler LLC secured lenders has objected in bankruptcy court to the quick sale of Chrysler to a new corporate entity led by Fiat S.p.A. The group of about 40 banks and hedge funds holds about $3 billion of the $6.9 billion in secured loans that Chrysler has with the banks. Four major New York banks holding $4 billion of that debt agreed last week to settle for $2 billion in payment for the $6.9 billion owed.
Chevrolet Volt plug-in hybrid: first official photos
Tue, 16 Sep 2008By Ben Whitworth First Official Pictures 16 September 2008 15:08 This is the first official photograph of the new Chevrolet Volt – GM's landmark petrol-electric plug-in hybrid car, unveiled today to mark the General's centenary. CAR Online dropped into the centenary event and has the full photographs and details of the Chevy Volt and the other announcements made today. New Chevrolet Volt: is it the car to save GM?Amid an orchestrated flurry of congratulatory backslapping, GM pulled the wraps off the production version of its Volt – the car and technology tasked with hauling the General back from the brink of financial collapse.It's a landmark car for GM – and one of the first cars to evolve hybrids to be revealed in production spec.
Corvette ZR1 price bombshell
Thu, 25 Sep 2008By Greg Fountain Motor Industry 25 September 2008 14:37 General Motors has pitched the Corvette into the price stratosphere by announcing that the 206mph ZR1 will retail at an eye-watering £109,000 in the UK. It may be the fastest car ever built by GM, but the new 'Vette now enters big-time supercar territory, where it will need to have the quality to match its ballistic performance. The outrageous price tag is the biggest shock since we found out how genuinely brilliant the ZR1 is to drive.