Automotive Industry

Saying that it could not reach agreement with its consortium partners over a strategy to move SAAB from mass market to premium brand, Koenigsegg has told both GM and the consortium that it's not going ahead with the deal announced in June.

A stark press announcement from Volkswagen Group Malaysia says that VW Cars Sdn Bhd is no longer an authorised dealer for the marque which is just beginning to introduce models to the Malaysian market that have been hankered over for some time but not available through authorised channels.

Whilst major motor manufacturers are struggling, specialist sportscar manufacturer Lotus is expanding its R&D and production facilities. And it has full order books.

Lotus Engineering is using the recession to develop and launch a range of new ecology and economy-friendly products. The latest, its Range Extender Engines comes just as oil prices climb above USD70 per barrel.

With an increase in purchasing in the automotive sector from GBP20,600 million in a survey in 2011 to GBP23,600 million in the 2012 survey, The Automotive Council says that there are signs that things aren't so bad.

Rick Wagoner may be presented as having fallen on his sword to secure the rescue of General Motors from terminal insolvency. But he's walking away with more money than much of the world' s population would earn in several lifetimes. It seems that the price of failure is a generous pay-off.

GM has issued the following statement:" There will be no interruptions in GM’s ability to take care of our customers and honor customer programs, warranties and provide replacement parts."

The company formerly known as General Motors Corporation (and now known as Motors Liquidation Company) has transferred "substantially all" of its assets to a new company - called General Motors Company." But some carefully selected liabilities will go along with them.

Can things get any worse? Yes, it seems, they can. Volkswagen's major market is China where its cars are seen as higher quality than most. And imported VWs are more prized than locally made models. So the fact that a large piece of bodywork might fly off its apparently rugged 4WD is not good news for the company.

Reports from Japan say that the government is becoming concerned that some cars are too quiet. Talk about re-inventing the wheel - to solve the problem, all they have to do is ask Lotus.

If your Aston Martin Vantage is too fuel-thirsty for that trip to the shops, or the school run when it never warms up, or if it's too big to thread through the city or those ever-closer pillars in car parks, there's a solution.

When the GM stuff hit the fan, the first brand to go under was SAAB, calling in administrators whilst other units cried for government money to keep them going.

Analysis in BankingInsuranceSecurities.Com shows that banks, finance companies, leasing companies and insurance companies are all exposed to unexpected risk as a result of the deal to save Chrysler.

A US insolvency judge has approved Chrysler signing the death warrant of 789 dealerships in the effort to save the company, or at least part of it. And another court approves the disposal of of some of it to Fiat.

General Motors is breaking up. When this newspaper suggested that US car makers had too many competing brands and not enough direction, plus too many attempts to fill niches which are best filled by specialist manufacturers, that view was not popular. Now that approach is at the core of GM's rescue plan as Hummer and Opel are sold off.