Car enthusiasts knew ahead of time that they would have their hands full in Chicago dealing with the freezing temperatures, bitter wind, and snow flurries; but add to that a 4.3 earthquake this morning and you will see how truly dedicated these car aficionados are. The 2010 Chicago Auto Show has seriously started off with a bang… even a rumble!
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Okay, so things didn’t go too well when GM tried to sell Saturn. Or Opel. Or, so far, HUMMER. And Saab itself has gone through its share of unsuccessful suitors, too. But it looks like General Motors has finally gotten lucky, putting together a deal that sells its Saab division to Spyker Cars, N.V.
Here’s the lowdown: General Motors gets about $74 million from Spyker, along with some $326 million in preferred shares of the new company—Saab Spyker—with everyone quick to point out that this translates into only 1 percent of the voting rights in the new entity. On the other hand, the stock deal is essentially payback for GM agreeing to remain a “partner” with Saab through the end of 2016. It’s not clear exactly what this “partnership” will entail, but the net result is that the General will have some sort of voice in Saab’s new plans for a while yet. [click to continue…]
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Grand Theft Auto is a series of video games that became popular upon its release in October of 1997. It has grown into nine stand-alone games with two expansion packs for the original game and two expansion packs for the latest game, Grand Theft Auto IV. Due to popularity, Chinatown Wars has been released on the PlayStation Portable, the Nintendo DS, and even the iPhone OS. Chinatown Wars is the 13th game released in the series, whether stand-alone or in an expansion pack; it’s the first of the games to be released for the iPhone OS.
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Auto thefts have become a major problem in the area of Dallas, Texas. But, local law enforcement agencies will be getting major help, in the form of DNA testing. A federal grant of $500,000 has been given to Dallas County, which will be used by police officers, prosecutors, and the Dallas County crime lab for DNA testing. The program is called the Forensic Evidence Auto Recovery program (FEAR). Dallas officers will be able to swab areas of the vehicles where thieves may have touched. This is a crucial process in order to track down thieves and possible chop shops that sell salvaged parts.
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Auto insurance is one of the most important types of insurance a person can have these days. It’s right behind health insurance, life insurance, and home insurance. Today, automotive insurance is required by law by certain state minimums to legally drive a vehicle in the United States. If you are pulled over while driving, show either your proof of insurance or insurance policy. Otherise, your vehicle will be impounded, the driver will be issued a ticket, and possibly even arrested. The owner of a new vehicle should purchase automotive insurance as soon as the vehicle leaves the sales lot.
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Last year was rough for General Motors. After emerging from bankruptcy and receiving bailout loans from the government, GM may not seem like it would considered the most innovative company by any measure. But as the Washington Auto Show gets underway, GM has announced that it will be the first major US automaker to manufacture electric motors.
GM is designing and building electric motors for upcoming hybrid and all-electric vehicles within their own facilities, which should make their debut in 2013 on new rear-wheel drive two-mode hybrids. [click to continue…]
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As we approach the end of January, advertisers and companies are gearing up for the launch of their brand new commercials. Viewers will be watching these commercials during the most watched football game of the year. The Super Bowl will be shown on February 7th and air on CBS this year. One automotive company that will not be running ads during the Super Bowl is Mazda. There are still plans to increase their advertising campaign for the Mazda 2 small car.
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Technology has exploded over the past decade to the point where we have iPod phones, the iPod Touch, MP3 players, Blackberry phones, blue-ray discs, video conferencing, and much more. Over the past 15 years, one of the most innovative technologies to hit the automotive industry is the navigation device. The navigation device can be purchased as a single unit from an auto shop or electronic store. It can be carried into your car as you begin driving on the road. With the purchase of a brand new car, navigation systems come installed in the center console. As technology continues to expand, one will think about the next automotive innovation for the new decade.
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Car lovers come to the North American International Auto Show to see the latest and greatest in the automotive industry. In fact, there is some exclusivity to these events as some of these news models are not available outside of the auto show. They are put on display to show what a future model may look like, and if the attendees show enough interest, some of these models may indeed see the light of day. [click to continue…]
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GMAC has been struggling mightily during the recession affecting not only the United States but also the entire world. GMAC is reporting that it lost $5 billion in the fourth quarter of 2009 alone. GMAC is an auto lender that has faced large struggles in its mortgage division. The $5 billion loss in the fourth quarter of 2009 is largely blamed on a $3.8 billion pre-tax charge that has reflected the decline in the value of the company’s mortgage investments, which it plans to sell.
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