Autoblog

I received an Indy 500 poster on my birthday in 1986 that featured a Yellow C4 Corvette pace car leading the pack. My dad hung the poster above my bed, and I can honestly say that I stared at it every night for years. The Corvette was my dream car for my entire childhood, but as an adult I turned my attention to European rides like the Porsche 911 and the Ferrari 360 Modena.

When the C6 Corvette hit the scene for the 2005 model year, the Bow Tie brand's halo vehicle again had me pining for some General Motors muscle. GM gave the base Vette the same 400 horsepower as the C5 Z06, and I figured it was all the power I could ever want. That is, until the 2006 Z06 came along. The Z06 was kicking ass on the track and in enthusiast magazines, and it was toppling competition that far exceeded the Corvette's $70,000 price of entry. We never had the Z06 in the Autoblog Garage, so we were more than happy to take it off Chevy's hands for a week. Hit the jump to see if the Z06 met our lofty expectations from childhood.


All photos copyright ©2008 Chris Shunk, Sam Abuelsamid/Weblogs, Inc.

Leasing is down industry-wide by about 50% from 2007 levels, but General Motors' captive credit arm took an even bigger bite out of its vehicle leasing in September. GMAC leased only 2% of all GM products in September, and the decision to do so had everything to do with the recent events of the financial markets. While leasing was down GM-wide in September, GMAC and Chevrolet were hit the hardest. The General's two volume brands accrued only .6% and .7% of its sales through leasing, compared to 11.2% and 13.6% respectively last year. Leasing is virtually non-existent for vehicles with low residuals, and Cadillac, which typically leases over 40% of its vehicles, leased at an 8.4% clip last month.

Nobody on Wall St. is purchasing securities right now, giving GMAC very little money to offer leases to its customers. A controlling interest in GMAC was purchased by Cerberus well before the private equity firm took control of Chrysler. Chrysler stopped leasing all together on August 1 in response to the huge losses it took on returned leases of SUVs and trucks. Both GM and GMAC say the break from leasing is only temporary, but with the financial markets still in flux, don't expect this trend to reverse itself any time soon.

[Source: Automotive News, sub. req'd]

You know what they say: "Buy low and sell high." General Motors stock closed at $9.45 on September 30, which is 78% below its 52-week high of $43.20. That little piece of news, coupled with GM's enormous financial losses and declining sales, makes stock in the 100-year-old company sound like a bad bet, but employees don't agree. The low price of GM shares has lead workers to snatch up all available employee purchasable stock, which is capped by volume in the company's two 401(k) programs. As a result, GM employees can no longer buy stock in the automaker through the company. Because of the share freeze, GM executives are also not allowed to buy, sell or trade any of the company's stock during this time due to the Sarbanes Oxley act. To obtain more employee purchasable shares for its 401(k) program, GM has to register more shares with the SEC, which is expected to happen on November 9.

[Source: Detroit Free Press, Photo by jzakariya | CC2.0]

The highly anticipated 2010 Chevy Camaro is now only a few months from hitting the showroom floor, and we're just getting the final scoop on standard and optional content that will be available for all five Camaro variants. Customers wanting to order a Camaro can choose from LS, 1LT, 2LT, 1SS and 2SS models, and standard and optional equipment varies greatly between each package. The base model LS comes equipped with OnStar, 18-inch rims, and a 300-hp V6 engine, and the only optional item is floor mats. The 1LT package includes optional 19-inch rims, a Boston Acoustics sound system and a sunroof. The 2LT gets standard 19s, the sound system, leather seats, ambient lighting and Bluetooth and USB connections.

If you want your Camaro to include a 422-hp V8, you'll need to step up to the SS. The 1SS package includes standard 20-inch rims, four-piston Brembo brakes, a limited-slip differential and engine and transmission cooler. Options include polished aluminum wheels, a sunroof, and the upgraded sound system. The 2SS model adds all the standard features of the 1SS package and the 2LT package plus options including dual rally strips, a sunroof, and the Inferno Orange Accent interior. All trims except for the LS model have the option of adding the RS package, which gets you 20-inch rims, HID lamps, a spoiler (for the LT model), a Midnight Silver paint finish, darkened tail lights, and body colored molding.

Camaro sales may still be a few months away, but you'll be able to order yours at a local dealer beginning October 13. The complete list of standard and optional equipment is available for your perusal after the jump.


[Source: Camaro5]

The Chevrolet Cruze is three kinds of car: small, American and important. And with the state of General Motors, it isn't even the individual words that mean the most: it's whether The General can combine them into a reliable, fuel efficient and cost effective package. True, we don't get to drive these things while they're parked under the lights, but to have a seat in the Cruze is to imagine a GM that begs the question, "Where was all this before the meltdown?" The studio imagery we've seen so far translates nicely into real life, and the center console looks and feels substantial – in fact, it looks like it could be foreign – even if the silver mesh treatment in the show car was a bit much. The car has a compact yet full-bodied stance, and will probably look even better on the road in a color other than scarlet, and not under klieg lights. Spring of '09 will welcome this first Cruze variant to Europe, after which other regions will get it, as well as a probable hatchback and wagon. It will be powered by a 1.4-liter turbo four-cylinder that charts up to 140 hp and is said to return 40 mpg. Have a look at the high-res gallery of live shots below to get a better idea of what to expect when the Cruze goes on sale here in a couple years.

Over the past few weeks, we've heard how badly Detroit automakers needed $25 billion in government-backed loans, but very few of us know exactly who gets the money. GM CEO Rick Wagoner got in front of a camera to answer some of those questions, and to talk about some of the challenges the General faces. Some of the interesting comments from slick Rick include the fact that the $25 billion is available to all automakers and suppliers that invest in the US, not just the Detroit companies. Wagoner also explains that the loan money was part of the bill passed in 2007 to increase fuel economy by 40% over the next decade, and not just some handout from Washington. Hit the jump to view the video.

[Source: GM Fast Lane]

Bill Heard Enterprises sells more Chevy cars and trucks than any dealer in the world, but that distinction isn't enough to keep the doors open at the dealer's 13 stores. The soft economy, fuel prices and an over-reliance on the sales of trucks and SUVs were the reasons stated for the demise of these Chevy superstores. Another possible reason for the mass closure could have something to do with a pending suit against Bill Heard Enterprises involving signature forgery and deceptive marketing that could result in up to $50 million in fines.

2,700 people worked at the stores, and now all of those workers are out of a job. The dealer consortium didn't give workers any notice, either. Managers were told yesterday at 2PM that the stores were closing, and the doors are locked today. Customers with vehicles in the service area were told to pick up their cars, fixed or not, and customers arriving to pick up their new cars were given back their trade-ins. What a mess. We know GM is looking to cut back on its overpopulated dealer-body, but we're pretty sure the General would want the situation handled better than this.

[Source: Automotive News, sub. req'd]

Needless to say, stealing cars is big business. If your vehicle becomes a target for thieves, there's a good chance it will be stripped of its parts and scrapped within days or even hours of being stolen. There are plenty of security options to locate your vehicle, but OnStar takes it one stop further by powering down the vehicle in a safe fashion. A simple call between you, the police, and OnStar can activate the vehicle slowdown system, which lets the driver continue to steer and brake as needed, but the engine decelerates until the vehicle stops safely.

The bloggers over at Kicking Tires took a Chevy Impala equipped with Stolen Vehicle Slowdown for a spin to see exactly how it works. Hit the jump to view the video, and let us know if you think OnStar's system will deter thieves from stealing GM products.

[Source: Kicking Tires]

GM began to counter the rumor and rabble with its Facts and Fiction site. Now they've gone a step further and introduced a video series called The Case for GM. The introduction video is by Christopher Barger, director of global communications technology, telling us that the series is meant to address your questions, and letting us know that the series will provide answers and insight from a large number of GM "team" members.

The second vid is from top guy Rick Wagoner, answering the question "What do you say to those with concerns about GM's future?" Let us be clear that we applaud the effort GM is making to speak to the public. Nevertheless, this video highlights the problem: Wagoner doesn't say anything. At least, nothing we didn't already know. He talks about growth in emerging markets, and hybrids are out, and GM is excited about the Volt and the "electrification of the vehicle," and how GM's design team is showing its reignited passion for cars and trucks. Yeah, so...

This also highlights the difficulty with the idea itself: how much can GM say? They can't talk about future product, they can't give away their technology R&D, they can't commit to revealing anything we don't already know. It would almost be better if they just took the day's latest bad news and said "This story isn't accurate, and this is why...," giving us any examples they could. What we would love to see is if they did a series of videos that took cars in GM's lineup and compared them side-by-side with competitor cars and showed us "This is why the GM product is as good or better."

But we realize that would be a bit unfair. Not even Toyota or Honda is going to do that. But GM says that they want this to be a dialogue, so Autoblog readers, why don't you let GM know what you really want to know -- keep it constructive, remember! -- and maybe you'll get some of your questions answered. We have little doubt that GM can win -- but we would rather see more concrete answers on the showroom floor.

[Source: GM Fast Lane Blog]

GM celebrated its 100th anniversary by unleashing the production 2011 Chevy Volt to the world. It was a great way to show that the General is working hard on innovative transportation to kick off its next 100 years, but we're still two years and a month away from being able to actually buy a Volt. Until that time, we're forced to gather intelligence as it becomes available without being able to get behind the wheel.

Thanks to the Volt-o-files over at GM-Volt.com, we now know what the Volt looks like when it's traveling on the open road. The video after the jump shows the Volt strolling around GM's closed course proving grounds in Milford, Michigan. The two-minute clip reveals very little of the Volt's capabilities because it's chugging along at a leisurely pace, and the Coldplay soundtrack hides the Volt's audio, which should be limited to rolling tires and an electric motor. You do, however, get to see the Volt on the road, as well as some functional views of the Volt's interior. Hey, we'll take what we can get.


[Source: Autoblog Green]