Category: Carmageddon

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Carmageddon GM Saab

Saab: This is the end, beautiful friend

Saab RIP - 18 December 2009

Yes, we’ve done this before, two years ago to the day…

Saab has, once again, broken the limits of its owners. This time it’s not GM, like it was in 2009, but current stewards of the Saab brand Swedish Automobile who have said, “This is the end.”

More correctly they have lodged an official notice stating: “Swedish Automobile N.V. (Swan) announces that Saab Automobile AB (Saab Automobile), Saab Automobile Tools AB and Saab Powertrain AB filed for bankruptcy with the District Court in Vänersborg, Sweden this morning [19 December].”

Actually, GM has still played a leading role in the latest fall of Saab. Swedish Automobile has been trying to negotiate a sale with Chinese auto manufacturers Pang Da and Youngman. However, much of the Saab 9-3, 9-5 and 9-4X model lines rely on GM technology. And as GM retains preferential shares they have been able to scupper sale plans on intellectual property grounds.

Nice one GM.

Swedish Automobile’s full statement can be read after the break. For more coverage keep a watching brief on SaabsUnited.

[via Car]

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Carmageddon GM

Don’t cry for me Argentina

Hummer H2

So, what does the title of one of Andrew Lloyd Webber’s best known songs have to do with Hummer? Well, there’s about as much relevance there as there was of Hummer being a legitimate option in the automotive marketplace. In case you’ve missed it, earlier this week came the unsurprising revelation that General Motors could not find a willing buyer for the Hummer brand. This led the once mighty US car giant to commence winding down the SUV marque. My question to the readers out there is, does anyone really care?

I feel for the families of any workers that may be affected through job losses, but really, the Hummer was the best example of the worst aspects of the American car industry. It was a big fat ugly waste of space, and they take up a lot of space, too, that only seemed to work in blinged up junk time over produced “rap” videos.

Still, I guess we have much to thank GM for with their decision to remove Hummer from the automotive landscape. All of a sudden the car industry is a better place.

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Carmageddon GM Saab

Saab bites the dust

Saab RIP - 18 December 2009

“We will work closely with the Saab organization to wind down the business in an orderly and responsible manner. This is not a bankruptcy or forced liquidation process. Consequently, we expect Saab to satisfy debts including supplier payments, and to wind down production and the distribution channel in an orderly manner while looking after our customers.”

And with those words, GM Europe President, Nick Reilly, brings to an end General-Motors’ 20 year ownership of Saab. More seriously, those words also announce the demise of the Swedish brand after buyout talks with Koenigsegg and, more recently, Spyker could not be finalised.

The motoring industry needs brands like Saab. It needs a company that is prepared to present alternative thinking to the market. Of course, a lot of that sometimes oddball thinking had been homogonised by GM, but there was always a glimmer of hope that the old Saab could break through.

GM has extinguished that last glimmer of hope. The motoring world is now a poorer place.

Or is it? Already a movement to save the company has started. But can Rescue Saab come to the party and provide a genuine solution?

A full statement from GM can be read after the jump, along with a short gallery of images to pay respect to the other Swedish car company.

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Carmageddon GM Holden News

The bigger they are, the harder they fall

GM logo

The rumours and speculation have finally been fulfilled. General Motors, once the biggest car manufacturer in the world, has now filed for bankruptcy.

The good news for Australia’s Holden is that it will remain unaffected by the bankruptcy proceedings which only affect US operations. “Holden is a subsidiary of GM but we are a corporate entity in our own right – an independent company under Australian law,” Holden Chairman and Managing Director, Mark Reuss, said today. “Beyond that, GM has indicated that Holden will be an important part of the New GM.”

Mark Reuss will be holding a press conference at 9am this morning and that will be webcast on audio and video or audio only web portals. Holden has also released an FAQ statement.

A statement from GM Chairman Kent Kresa is shown below, and a full media statement from Holden can be read after the jump. For more check out GM’s Facts & Fiction website.

Kent Kresa: “The General Motors Board of Directors authorized the filing of a chapter 11 case with regret that this path proved necessary despite the best efforts of so many. Today marks a new beginning for General Motors. A court-supervised process and transfer of assets will enable a New GM to emerge as a stronger, healthier, more focused and nimbler company with a determination not to just survive but to excel. The Board concluded that the proposed transformation will maximize the value of the enterprise, and the return to the many stakeholders who have been involved with GM over the years.

We are appreciative of the support from the US Treasury, the President’s Task Force on Autos, the UAW and its members, salaried employees and retirees, concurring bondholders, and very importantly, the American taxpayers. The Board is confident that this New GM can operate successfully in the intensely competitive US market and around the world. The Board stands behind the people of GM in embracing this unique opportunity to create value and a new company that will design, engineer, build and market the best cars and trucks in world.”

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Carmageddon Volkswagen

GFC says, ‘No Volkswagen BlueSport for you!’

Volkswagen Concept BlueSport

The Global Financial Crisis has seen Volkswagen temporarily shelve plans to put the svelte Concept BlueSport into production.

A report on GoAuto quotes a hesitant Christian Haacke, Volkswagen product communications manager, “It is a niche product and especially in crisis times like this it will be a challenge to come up with a volume we could require to earn money with it.”

However, there are signs of encouragement from Haacke, “The idea of a small two-seater sportscar has been around for a really long time and I hope that the Concept BlueSport will finally make it through the calculators.”

Indeed, Christian, let’s hope it does. The thought of a nimble mid-engined MX-5 rival from Volkswagen is sure to whet many an appetite. Sure, the 132kW diesel variant might not tickle everyone’s fancy, but you can be sure if this car does get made, the full complement of suitable drivetrains will be considered.

The possibility of the Volkswagen group’s silky smooth 2.0 litre turbo four cylinder in such a shell is a thought to treasure. Sadly, a thought is all it will be for now.

[Source: GoAuto]

Volkswagen Concept BlueSport

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Carmageddon Ferrari

The most expensive car in the world

Ferrari 250 Testa Rossa

This stunning 1957 Ferarri 250 Testa Rossa can lay claim to being the world’s most expensive car after an anonymous bidder paid a world record auction price of €9 million (AU$16.2M). The winning bidder, bidding by telephone, boldly told the world ‘You know where you can stick your Global Financial Crisis’ as he, or maybe she, outbid three others. The auction was run by RM Auctions and took place at Maranello last weekend.

This sale beats the previous world record for a car sold at auction by €2 million. That car, a 1961 Ferrari 250 GT California, was bought by UK radio personality Chris Evans. Shame he’s such a wanker.

Anyway, back to the beautiful 250 Testa Rossa, there were just 22 of these curvaceous machines made and the one on offer had been raced extensively through the Americas.

Highlighting that there is still plenty of folks ready to flash some cash was a rare Ferrari 330 P4. The car was passed in at €7.25 million, in excess of the previous world record. That’s just being greedy, don’t you think.

Extra pics and a full press statement, including background on the 250 Testa Rossa can be read after the jump.

Update 19 May: A tiny teaser about the experience of driving this car has been posted on Jalopnik.

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Audi BMW Carmageddon Mercedes-Benz MINI News Volkswagen

Sackings force Karmann to file for bankruptcy

Karmann badge

Carmageddon has claimed yet another scalp with news filtering through that body specialists Karmann filed for bankruptcy overnight.

Best known for their stunning Volkswagen Karmann Ghia coupé, built from 1955–1974, the German coach-builders currently supply components and body work for convertible models to the likes of Audi, BMW, Mercedes-Benz, MINI and Volkswagen. Contracts with Audi and Mercedes-Benz have either expired, or are coming to an end, and will not be renewed.

While Karmann doesn’t have huge debt hanging over its head, it is suffering the flow on effect from a worldwide drop in automotive sales. Many of its customers are planning to bring work back in-house, leaving Karmann in the lurch.

The company has plans to undertake a massive restructure that would see around 50% of its workforce laid off. This would require redundancy payments for over 2,000 workers, and it is these payments that Karmann cannot afford. By taking the voluntary bankruptcy route it is hoped a buyer can be found and the payments to workers can be saved.

[Source: Bloomberg & theSwitchback]

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Carmageddon Porsche

Porsche gives financial crisis two finger salute

Porsche Cayenne Diesel

Porsche has given the global financial crisis a two finger salute by posting pre-tax profits of €7.34 billion for the period 1 August 2009 to 31 January 2009. Sounds good on the surface, but…

The result is based largely on cash-settled share option transactions surrounding the value of Volkswagen shares.

Investment in future product lines such as the Panamera and hybrid drive Cayenne have had a negative effect on Porsche’s bottom line.

Sales, too, have been down across the board for Porsche, with the Cayenne being the highest selling model (16,773 vehicles against 20,638 in the previous year). The introduction of the new Boxster, Cayman and Cayenne Diesel earlier in the year are expected to give sales a welcome boost.

A press release from Porsche can be read after the jump. It might be best if you have a CPA sitting next to you, though.

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BMW Carmageddon

BMW cans Z4M … boooo!

BMW Z4

According to iMotorMag BMW has succumbed to carmageddon and shelved plans for a Z4M.

They will, however, offer an M Sport pack that consists of a body kit (a la 135i) and an ECU reflash to liberate a few more ponies from the 3 litre twin turbo. Presumably this will translate to other cars in the BMW range with the same ebgine, too. Power is said to jump to 326bhp.

[ Source: iMotorMag ]

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Carmageddon MINI

MINI axe jobs and reduce production

MINI production at Plant Oxford

MINI is the latest manufacturer to feel the brunt of carmageddon with news they are set to axe up to 850 jobs from their Plant Oxford facility. An additional 150 workers will be cut from the engine plant about 50km down the road in Swindon.

Worldwide sales for MINI dropped by almost 35% in January forcing BMW to reduce production from seven days a week down to five. The change in production patterns will commence in early March. Meanwhile, Plant Oxford has been shut down for one week and production will resume on 23 February.

A statement released earlier today said, “While MINI has been weathering the economic downturn, it is not immune from the challenges of the current situation. Against this backdrop the company felt that a review of its shift patterns was necessary.”

Source: Reuters UK, MotoringFile & news.com.au (Thanks to Wes for the tip.)

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Carmageddon Motorsports News Porsche

Australian Carrera Cup series fails to launch in 2009

Australian Carrera Cup series cancelled 2009

On Thursday it was announced the Australian 2009 Porsche Carrera Cup season would be cancelled due to a lack of cars to fill the grid.

Porsche Cars Australia managing director, Michael Winkler, said “to enter the season without a robust grid of cars is simply not viable for all the major stakeholders. Motorsport is an integral part of Porsche’s activities in Australia so this decision is not taken lightly.

“We have already spoken with the Confederation of Australian Motorsport (CAMS) as the governing body of Australian motorsport and will proactively work with them to ensure existing owners of 997 GT3 Cup Cars are given the opportunity to race in other categories.”

There was an eight round program scheduled for 2009, with the first race planned for the Clipsal 500 later next month.

This news is a real sign of the global financial crisis biting hard at home. It will be interesting to see if those teams with financial backing are able to find alternate series to race in. It will also be interesting to see if the Carrera Cup will return in 2010, or indeed, at all in the near future.

Source: cupcar.com.au – image courtesy of cupcar.com.au (Thanks to Richard for the tip.)

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Carmageddon Mitsubishi Motorsports News

Mitsubishi waves goodbye to Dakar

Mitsubishi Lancer Dakar09

The Global Financial Crisis has claimed its latest motorsport scalp with Mitsubishi quitting its Dakar Rally program. The withdrawal goes further and brings an end to Mitsubishi’s involvement in all cross-country rally events.

Mitsubishi Motors Corporation says the global economy has forced them to tighten their belts.

Brief statement below.

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