Rental fleet sales down last year, 2009 will be worse

Filed under: Trends, Chrysler, LLC., Ford, GM, Earnings/Financials

Last summer, it was the Detroit Three that were restraining themselves from dumping cars into the gaping maw of fleet sales just to boost the bottom line. Turns out they had some help with that discipline: Due to last year's events, rental car fleets shrunk by 400,000 units from 2007 to 2008. As we begin 2009, rental car companies have declared they will be trimming their fleet orders and curbing the number of vehicles they keep on hand even further.

Rental car companies have been thrown under a number of buses as of late. They can't borrow money to finance purchases; the recession has hammered the travel industry; wholesale used vehicle prices are falling (making rental car fleets less valuable); and besides that, car dealers can't get the money to buy the retired rental cars anyway, which subtracts yet another revenue stream.

Rental companies have been good for something like 15% of sales from General Motors, Ford, and Chrysler. But not this year: Enterprise, which also buys for National and Alamo, will buy half the number of cars it did last year, and they'll keep those cars a couple of months longer. Hertz, Dollar, and Thrifty also said they will buy fewer cars and work them longer. The automakers have doubled incentives to encourage sales, but there are simply no teeth left in the rental business with which to bite.

Thus, don't be surprised to find a few more stains on the seats and a few more miles on the clock the next time you find yourself at the wheel of a rental car.

[Source: Automotive News, Sub Req.]

Rental fleet sales down last year, 2009 will be worse originally appeared on Autoblog on Sat, 10 Jan 2009 14:00:00 EST. Please see our terms for use of feeds.

Read |  |  | 

Related posts:

• Tjin Edition Camaro SS Getting Ready For SEMA!
• Dodge Caliber SRT-4 set for launch this Fall
• Michael Moore mixed on Big 3 bailout
• Fiat 500: Super Cool or Huge Dissapointment?
• Project Car Hell, King Of LeMons Edition: Bristol 408 or Beetle Limo? [Project Car Hell]

Related posts:

• Reader Review of the Week
• 2012 Tesla Model S
• GM gives the Pontiac Solstice Coupe the Go-Ahead
• Volvo S40 T5 R-Design: Engineered To Perfection
• Is This the New 2009 Toyota RAV-4 That We Will Get in the US?

The GM, Chrysler Federal Bailout By The Numbers [Carpocalypse Now]

Both GM and Chrysler hit the federal jackpot this morning, avoiding the wrath of the Carpocalypse for a little longer. We break down the numbers below the jump.

$13,400,000,000: The amount of money to be handed out from the Troubled Asset Relief Program in the first installment.

$4,000,000,000: The amount of the second installment of TARP funds, if needed.

$9,000,000,000: The amount of "bridge financing" Ford would like to access from non-governmental sources.

500,000: The number of electric vehicles Chrysler intends to put on the road by 2013.

102: The number of days the companies have to turn around their companies so the loans are not called in.

24: The number of new vehicle releases Chrysler promises through 2012.

0: The number of private jets Chrysler and GM are going to be buying because of a requirement.

Photo by Spencer Platt/Getty Image

Related posts:

• Fastest man alive
• Ma Mopar’s Viper is awesome because it’s about as complicated ...
• From the looks to the exhaust note of the new Maserati Quattroporte Sport ...
• Geiger Cars tunes the massive Ford F650
• The 5 coolest movie cars of all time!

Related posts:

• Daimler reduces its stake in Chrysler by two-thirds
• Autoblog Podcast #108
• Next Chrysler 300 will see few changes on the outside, ‘huge leap’ on the inside
• Chrysler kills plans for new Dodge Journey, will build small car instead
• Ford and GM won’t match Chrysler’s offer to ‘refuel America’

2008 Chevy Cobalt SS Sedan, Part One [Jalopnik Reviews]

The 2008 Chevy Cobalt SS isn't the best car on the road, nor the best car in the segment, but it is one of the best cars for those interested in a walloping good time.

As a practical matter, it doesn't matter where you grew up or what school you went to as a kid, every class had the one kid who got bored with his studies, his contemporaries, and his classroom because of his outstanding capabilities. He acted up, talked out of line, developing remarkably clever spit ball shooters or the most advanced in flying aerodynamic paper systems. That kid grew up to be the engineer for the 2008 Chevy Cobalt SS. The frenetic, brilliant, creative masterpieces which entertained his teachers immensely but inevitably earned a B for incompleteness are directly translated to his work on the Cobalt SS, a car so fun to drive you hate to mark it down.

With your foot planted resolutely on the accelerator pedal and sport mode enabled, you feel a satisfying whoosh of power as the 2.0-liter turbocharged inline four rapidly builds boost, and speed. Your grin turns to a moment of furtive panic as you realize the 260 horses have nowhere to go but the front wheels and the steering gets light as a feather. But, this doesn't stop you from executing a no-lift-shift, made possible by a clever trick of programming and excellent synchros. You effortlessly chirp the tires in second and off you go for another crush of barely controllable power and fury.

Want to hit the twisties? The littlest SS will happily comply. Though equipped with a lowly beam axle in the back, the body motions are well controlled though harrowing corners, with minimal body roll if you're neutral on the throttle. Hit “go” mid-corner though and it'll remind you it's a front engine car with a forward push the Detroit Lions could only dream about.

If you've decided you've had enough, or believe certain state authorities may be watching, hauling the Cobalt SS down to stop is enough to leave seat belt marks on you chest. The car comes with massive, cross drilled Brembos with four-piston calipers.

That, in a nutshell, is everything you need to know about the four-door Cobalt Super Sport. For all other intents and purposes, it functions exactly like every other Cobalt on the road, albeit with notably better exterior styling thanks to a revised front and rear fascia, tasteful spoiler, a big set of wheels and not-so-subtle “SS” badging. When you sit behind the wheel in those grippy and wonderfully supportive Alcantara seats and turn the ignition, you don't so much hear a rumbly exhaust note as you hear an invitation to throw spitballs into the chasm of automotive apathy.

Related posts:

• Electric Ape? How about a TriHybrid Lambro?
• Four-Links – The Spirit of Tomorrow, missing art car, Tony Thacker on T.V. Tom, launching a Plymouth
• The auto industry is identified by the US president-elect to be the spine ...
• Fiat 500: Super Cool or Huge Dissapointment?
• While many frown on ridiculous custom compact cars, automakers are making ...

Related posts:

• Honda Stream coming to American 2009?
• Some 2007 Chryslers Already Seeing Incentives
• 2009 Porsche Cayman Shows Off New PDK Dual-Clutch Gearbox [2009 Porsche Cayman]
• What will Obama mean to the auto industry?
• Malaysia Looks to Deter Street Racers with 3 Swipes of the Cane!

GM Cancels the "Gm Style" Event to Cut Costs

One of the more exciting things, besides the cars of course at the annual NAIAS Auto Show in Detroit is GM’s Style event. This year the exciting pre-auto show party featured some of GM's exciting model's on stage with artists such as Mary J. Blige and Maroon 5...there were of course lots of hot models as well.

Related posts:

• 2007 Detroit Auto Show: Nissan Rogue
• Mulally chooses Escape Hybrid for D.C. road trip
• Fastest Man Alive gets dream drive in a Ferrari
• Ethanol is on the Move: 6.87 Million Gallons Produced in 2007
• Healeys Return to Bonneville

Related posts:

• Carlsson Aigner CK65 RS Blanchimont
• HAMB Drags 2003… Has it really been six years?
• New BMW M3 CSL Caught Testing in Germany?...It's the Ultimate M3
• GM cutting production by 250,000 vehicles in Q1
• GM Chaparral Volt Design 2025

2010 Chevy Camaro Reaches 0-60 MPH in 4.6 Secs and Lapped the Nurburgring in 8:20

GM finally took the wraps off the 2010 Chevy Camaro on Monday and the news is still coming in on the new car.

Related posts:

• Rolls-Royce Phantom mobile phone store in India
• Bomex Aero DSO Eyewear Conrad Grunewald Trent’s Trick Upholstery ...
• While the concept sports a staggered layout—22 inches up front and 23 in ...
• Car Auctions: A Great Way to Buy and Sell Cars
• Four-Links – Crawford museum selling off cars, how to sell a Rebel Machine, old Daytona 500 footage, build threads galore

Related posts:

• Chocolate Formula One Car - Sweet!
• Kelly Blue Book Has Released its List of the Top Ten Coolest Vehicles Under $18K
• Should the US Adopt Gas Taxes as High as Europe?
• Aston Martin SuperCar Is In The Works
• Cars.com Review Wrap-Up

2009 Chevrolet Traverse offers better fuel-economy than its Lambda brothers

The 2009 Chevrolet Traverse is the fourth model to be built on GM’S Lambda platform. However the new 7-passenger crossover offers more power and a better fuel-economy than its 2008 Saturn...

Related posts:

• Saturn Outlook and GMC Acadia Problem Revealed
• Acura’s NSX is completed, rwd platform to spawn more Acura sports cars
• Videos: BMW X6 xDrive35i and xDrive50i in action
• Brand Spankin’ New Images: 2009 Audi Q5
• GMC Yukon Hybrid Super Bowl Commercial

Related posts:

• Saturn Vue 2 - The #1 Hybrid?
• Brand Spankin’ New Images: 2008 Ford Kuga
• HMX Rear Suspension Rebuild Begins
• This Week in Photos: 4-28-2008 - 5-3-2008
• Cars.com Review Wrap-Up

GM to move Tahoe and Yukon to light platform, more hybrid variants

You know it’s really sad that it took gas-prices reaching an average of $4 a gallon for such moves to take place, but like they say; better late than never. According to source, GM is considering...

Related posts:

• Zhang Ziyi shows off her driving skills in 2009 SLK commercial
• ExxonMobil Posts Largest Profit In US History, Makes $1,865.69 A Second [News]
• Nissan previews next-generation ‘Z’ with hidden sculpture
• Ford may still sell Volvo and Mercury
• Brand Spankin’ New Images: 2009 Audi Q5

Related posts:

• Video: Dodge Challenger SRT8 road test, 0-60 in 5.1 secs
• eBay looking to team with automakers to sell certified used cars
• Ford and GM won’t match Chrysler’s offer to ‘refuel America’
• Videos: New BMW 1-Series Coupe and Convertible commercials
• Work Car of the Year Runners-Up

GMC Yukon Hybrid Super Bowl Commercial

Here’s the Yukon Hybrid Super Bowl Commerical. Seems that GMC is trying to appeal to a sense of progress and American achievement. We’re not totally sure about the simple white background with sketch animation though. Not sure it was striking enough for a Yukon.

What are your thoughts?

Related posts:

• ExxonMobil Posts Largest Profit In US History, Makes $1,865.69 A Second [News]
• Chevy Camaro won’t debut at Indy in Sept., but before that…
• Brand Spankin’ New Images: Audi A3 TDI clubsport quattro
• Geiger Cars tunes the massive Ford F650
• AC Schnitzer gives MINI Cooper Clubman S 226-hp

Related posts:

• Carbonyte stretches the Smaaart ForTwo
• Ford looking to sell 100,000 Flex crossovers annually
• Edo Competition’s 630 Scuderia aero kit for the Ferrari 599 GTB
• Video: Audi RS6 Gymnastics ad - Performance in every part
• Toyota pulls ahead of GM in the 1st quarter

Chevy Camaro won’t debut at Indy in Sept., but before that…

If you’re crazy about automotive news and have been browsing the web this morning you probably read that the 2009/2010 Chevrolet Camaro will debut at the 2008 Indy ‘Back at the...

Related posts:

• Herald-Standard Reports: Connellsville Police to Operate Electric Powered Cruiser
• Dealership can't sell trucks, sells scooters instead
• One can only imagine the outcry that would follow a car company trying ...
• 2009 Chevrolet Corvette ZR1 - The Big Picture
• Momentum Race Group to run Camaros in KONI Challenge

Related posts:

• eBay Motors sells 3 millionth car, winners reimbursed
• Acura’s NSX is completed, rwd platform to spawn more Acura sports cars
• Hyundai to kill the Tiburon, Genesis Coupe is not a replacement
• Saturn launches blog and social networking web site
• IIHS says midsize sedans side-impact ratings improve, rear-impact still a problem

ZR1 In A Box: GM Performance Parts Carting LS9 Crate Engine To SEMA [Sema]

GM Performance Parts has announced the introduction of its 638 HP LS9 crate motor, set to debut at the SEMA show next week. Yep, the supercharged, 6.2-liter heart of the ZR1 can now be ordered without the Corvette wrapper, ready to drop into the bare engine bay of your choice. You get a complete engine including the ignition system, supercharger assembly, exhaust manifolds, dry-sump oil pan and provisions for the intercooler's liquid cooling system — pretty much everything in this gorgeous exploded LS9 view except the 'Vette engine cover. Pricing isn't mentioned, but considering an LS7 crate engine runs about $14k, figure well north of there. Plus a home-built Lamborghini to put it in, of course. Full release below the jump.

GM PERFORMANCE PARTS SET TO UNLEASH THE SUPERCHARGED LS9 CRATE ENGINE

LAS VEGAS - The LS9 6.2L supercharged V-8 is the power behind the most powerful and fastest production car in GM's history - the 2009 Corvette ZR1. In the third quarter of 2009, it will be available as a complete crate engine package from GM Performance Parts. It delivers a stunning 638 horsepower (476 kW) and 604 lb.-ft. of torque (819 Nm).

The LS9 crate engine will be the ideal all-in package for enthusiasts and racers who want the ultimate LS power plant for their project cars, from resto-modified vintage Corvettes, muscle cars and street rods to late model F-bodies and "shoebox" Chevys. The supercharger and charge cooler are integrated in the engine's valley for a lower profile, allowing creative builders to fit the engine in a variety of applications with plenty of hood clearance.

The engine's 6.2L displacement is shared with the LS3, but the LS9 is built for high-revving power with a supercharger. It uses stronger cylinder head castings and steel cylinder liners that are honed with a deck plate installed to maximize performance and cylinder sealing.

High-rpm-validated lightweight reciprocating parts, including titanium intake valves, are used, along with high-flow cylinder heads that draw the charge forced on them by a sixth-generation supercharger. A new, four-lobe rotor design delivers greater power at the low end and sustains it longer through the rpm band for broad, on-demand power, whether off-idle or at speed. A dual-brick charge cooler is integrated on a unique manifold system that mounts the "blower" in the engine's valley, with charge cooler on top.

GMPP's LS9 crate engine assembly comes fully dressed, including the ignition system, supercharger assembly, exhaust manifolds and more. It also includes the production dry-sump oil pan and provisions for the charge cooler's liquid cooling system. Builders will need an external oil tank, external coolant tank (for the charge cooler) and an ECU/wire harness.

[GM Performance Parts]

Related posts:

• One can only imagine the outcry that would follow a car company trying ...

Related posts:

• Endos and Hemis, revisited
• Rat rod ragout
• Mopar Wrecking Yard Nirvana Has Been Located
• Driving Across the Country
• What Big Movies Are Coming?

German solar energy company offers to buy Opel from GM

Filed under: GM, Opel

General Motors CEO Rick Wagoner has already stated that the only brand in his company's portfolio up for sale is HUMMER, but apparently this hasn't stopped interested parties from making their play for other marques under the General's umbrella. News broke today that German solar energy company SolarWorld has offered GM nearly $1.3 billion USD for the Opel brand that's sold exclusively in Europe. Broken down by Euros, SolarWorld is offering 250 million euros cash and another 750 million in bank credits. In return it wants Opel's four production plants and research center in Ruesselsheim, as well as rights to the Opel name and all that. A few other conditions that make the proposal extremely improbable are a complete break from GM and compensation payments of 40,000 euros per Opel worker for a total of 1 billion euros. So GM would basically get a billion euros for the sale of Opel and have to pay it all right back in compensation payments. Hmmm...

SolarWorld's angle here is to break off Opel from GM completely and attempt to create the world's first, true green car company. Without the economies of scale that come with being part of the GM fold, we suspect SolarWorld wouldn't get very far on its own. This deal is so far out of whack, one analyst remarked that he checked his calendar to see if it were April 1. While GM is certainly in dire straits, the world's largest automaker has already made it clear that Opel is not for sale, and if it were, we doubt this offer would even be considered. Thanks for the tip, everyone!

[Source: Yahoo! News]

German solar energy company offers to buy Opel from GM originally appeared on Autoblog on Wed, 19 Nov 2008 14:50:00 EST. Please see our terms for use of feeds.

 |  | 

Related posts:

• Video: Slamming Supercars
• Man Restores Griff Tannen's Hover BMW From Back To The Future 2 [Where We're Going We Don't Need Roads]

Related posts:

• Bids for buying Opel were due last Wednesday and . it has been confirmed ...
• Arash AF 10
• BMW, Daimler to Opel: It’s a Dog-Eat-Dog-Eat-Automaker World
• I hate the whole “order it and if it doesn’t fit, send it back” ...
• Look who’s getting in line for government bailouts!

The auto industry is identified by the US president-elect to be the spine ...

The financial crisis takes its toll on the global economy with the US car industry feeling the grip on its neck. Car manufacturers have reported major losses and seek urgent help from the federal government but the Bush administration rejected the low interest loan sought for by the industry.

President-elect Barack Obama dances to the same tune playing during his campaign recognizing the need for more loans for the car industry. Obama revealed during a television interview that he has delegated his staff to study the potential solutions to the looming crisis making life difficult for car producers.

The auto industry is identified by the US president-elect to be the spine of American manufacturing and promises to prioritize the problem if the Congress will not be able to take action during their November 17 session.

The car industry was given a $25 billion funding by the government but this is to be allocated for developing more fuel efficient vehicles and not to resolve the cash flow problems experienced by big car manufacturers like GM.

GM officials expressed their urgency for a financial aid expressing that the situation might not be able to wait for the new president to take his seat in the oval office in January.

In exchange for funding, the car manufacturer offers to give the government preferred stock options, determine salary caps for its top executives, and accelerate their program for the production of fuel efficient cars.

GM sends the distress call as it reports cash burning amounting to $6.9 billion dollars in Q3 which decreases their reserves to $16.2 billion. The car manufacturer needs to have reserves of at least $11 to $14 billion to stay afloat.