China Auto Market World’s Largest in 2009!

January 7, 2010

New auto sales in the USA sank more than 20% in 09′ to a 27-year low of 10.43 million cars sold, that’s less than the 12.23 million cars sold in China during Jan.-Nov., making China the world’s largest auto market in the World for the 1st time!!
Source: http://search.japantimes.co.jp/cgi-bin/nb20100107a6.html

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Electric auto builder “Coda” gets another $25 Million in funds!

January 7, 2010

Santa Monica-based “Coda” Automotive has just closed a 3rd session of funding that brings its total investment $74 million. Coda didn’t want to name the investor(s) in this session!
Source: http://venturebeat.com/2010/01/06/coda-electric-car-funding/

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General Motors receives $3.8 Billion Additional Bailout!

January 4, 2010

The Treasury Department said last Wednesday that it would give $3.8 billion more to General Motors and become the car lender’s majority owner because GM had been unable to make sufficient funds on its own.
It will be the 3rd round of govt. financing for General Motors, bringing taxpayers’ total investment to $16.3 billion!!!
source: http://www.nytimes.com/2009/12/31/business/31gmac.html?_r=1

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2010 will be a tough year for North American car industry!

January 3, 2010

As the end of a rocky financial year comes, it’s obvious that staying alive was the objective for the N.A car industry in 2009.
“Survival,” was the aim of an industry so hurt with financial problems that government bailouts on both Canada and USA were needed!
“The car industry just survived, but it had to have an [...]

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Bloomberg: United States car sales “most likely increased” in Dec. 2009!

January 2, 2010

The positive news: sales started to increase near the end of 2009, having maintained themselves nicely following the cash-for-clunkers deal. The final data is not all in yet, but
Bloomberg’s
report of analysts says 2 months of gains in Nov. & Dec. estimates that Ford, Toyota, Honda and Nissan witnessed increases, with GM and Chrysler looking [...]

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General Motors Recalling 20,000+ C6 Corvettes

January 2, 2010

GM is recalling approx. 20,090 Corvettes created in the 05-06′ years due to an issue regarding the roof. Reporting from the (NHTSA) National Highway Traffic Safety Administration, the adhesive between the car roof panel and the car frame could come apart, which could cause rattles, noises, poor roofing fit, or complete separation. Scary Thought.
The GM [...]

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