It has baked enough in bankruptcy and now its time to do something new and fresh, well it seems that the new General Motors is quite well aware of this fact and now going to sell its entire line of cars on eBay via pilot program.
“Right now the marketing efforts will be made only for California, but if the program proves successful, it will be carried throughout the US,” says Fritz Henderson, GM’s CEO.
GM is not getting a tie-up with eBay for the first time, as the automaker has also placed many other GM Certified used cars on eBay during the previous years. Chrysler and Toyota also had similar programs for their certified used cars.
However, according to GM no definitive agreement has been placed yet, and they both are still in talks.
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Porsche was seeking a government loan of Rs. $2.5b, but according to some new reports the company has confirmed that KFW (state bank of Germany) has rejected its loan request and now they are looking for some other financing sources.
The company wanted to utilize that loan to support its bad to worse getting financial condition, but now it would try to find some other source to make up its cash shortfall of $3.5b. In its efforts for the buyout of much larger automaker Volkswagen, the German automaker has amassed $12b in debt.
According to Porsche, it’s not going to submit another loan application to KFW.
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Osamu Suzuki, the director and CEO of Suzuki, has confirmed that they are not in talks with Volkswagen for a small car alliance in which Volkswagen is going to invest. During the last week, there were rumors that Volkswagen was considering acquiring a 10% stake in Suzuki.
In an interview with Chunichi Shimbun, Osamu says: “Right now, we are not in contact with Volkswagen for this issue, and just like before, we are again becoming a victim of lots of rumors.”
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It was nearly 45 years back when Lee Iacocca impressively served to launch the first pony car in the United States, and after 20 years of his retirement this former Chrysler and Ford exec is going to attach his visage to the Ford Mustang 45th Anniversary Edition that is being named as the Iacocca Silver.
The vehicle is being planned as a 45units limited edition that will house 5hp exceeded to the Ford 4.6-liter V8 stock, a 400-hp supercharged version is optional, while Ford Racing suspension is standard and 14” Racing brakes have also been given as an option.
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Renault has decided to steal Frankfurt Motor Show with its three new EV concepts, which are its three new electric car concepts and one of them is pointing towards a production model that the French carmaker is going to introduce. According to the company’s plans, there first utterly electric cars will be on roads by the end of 2012.
There was no word about their first production EV, but now the company has said that it will be a five-door hatchback at the measurement of around four-meters that is almost of Nissan Cube size. There are some reports which show that the coming EV to be based on a Cube and it will be quite similar to a vehicle that Nissan has already preivously introduced.
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