Filed under: Hirings/Firings/Layoffs, Cadillac, GM, Hummer, Saab

Mark McNabb, the general marshaling the forces of General Motors' premium channel - Cadillac, Hummer, and Saab - is leaving the company in 10 days "to pursue other job opportunities."

Only 13 months into his stint, McNabb has presumably spent most of his time trying to figure out how to help his company get rid of two of his three brands, something that likely hasn't built much confidence for McNabb in terms of job security. In addition to uncertainty about what the future holds for the premium channel (Cadillac and GM itself), we suspect that the job's responsibilities are ultimately probably not what he he had in mind.

McNabb came to GM after a second stint at Nissan - he had actually been with both Nissan and Infiniti for 20 years, before he jumped off to join Mercedes-Benz in 2005 as head of marketing. After moving over to become head of Benz sales, he returned to Nissan the summer of 2007.

There is no official word yet on where McNabb is headed or who will be his permanant replacement, but in the meantime, Stephen J. Hill, currently the general sales manager of the premium channel, will take over in the interim. Said a Cadillac spokesman, there has been "a lot of positive change here" under McNabb, "and we have a lot of product in the pipeline and so we're well positioned for the future."

[Source: Automotive News, sub req'd]

REPORT: Cadillac/Hummer/Saab chief Mark McNabb resigns after just 13 months originally appeared on Autoblog on Thu, 21 May 2009 16:57:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Filed under: Etc., Euro, GM, Saturn, Opel, Rumormill

Magna tried and lost when Chrysler was for sale. Pulling a Marchionne, Magna's now trying to win GM Europe's Opel division for itself, and rumor is that Saturn is also on the shopping list. GM would get much-needed capital for the transactions, but it could also be facing its old properties as new competition. Of course, coughing up the money might be difficult, considering Magna's taken a shellacking so far this year.

Some think keeping Opel and Saturn together makes sense, because they're already joined at the hip through current parent GM, and they're both slated for spin-off or sudden death. That may be fine for now, on the platforms the brands currently use, giving Magna time to figure out where the underpinnings come from for the next vehicle cycle. If Magna wants to go from supplier to automaker, there's more properties on the market with lots of potential than any time in our collective memory. Funny thing, potential -- Magna could either be wildly successful in winning Saturn and Opel, connecting with consumers, and generally rocking it where there had once been much wailing and gnashing of teeth. Or, it could all go down in a pire of torched Dollars, Loonies, and Euros. Thanks for the tips, Richard.

[Source: WSJ]

REPORT: Magna eyeing Saturn originally appeared on Autoblog on Thu, 21 May 2009 09:34:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Click Here to Check out this article on the new 2010 Camaro!

Carguide Magazine - GMC’s all-new Canadian-built 2010 Terrain made its world debut at the 2009 New York International Auto Show.  The Terrain is a five-passenger crossover SUV designed to blend bold styling with fuel efficiency and premium features. Read the rest of this entry »

Filed under: Saturn, Earnings/Financials

Penske Automotive Group has reportedly contracted the services of former Chrysler President Tom LaSorda, who left the automaker when it filed for Chapter 11 protection on April 30th, to advise it on its possible bid to purchase the Saturn brand from current parent General Motors. Up until the year 2000 when he joined Chrysler, LaSorda had been an executive at GM.

Earlier this month, Roger Penske, CEO of the second largest dealership group in the U.S., said that his company was interested in future opportunities with the Saturn brand. According to the Detroit News, Joe Serra and David Fischer, two Saturn dealership owners from Michigan, are partnering with Penske on the bid.

Rival bidders for Saturn may also include investor group Telesto Ventures with backing from Black Oak Partners LLC and French automaker Renault. As it currently stands, GM plans to continue providing vehicles to Saturn dealerships until the end of 2011.

[Source: Automotive News - sub. req'd | Image Source: Bill Pugliano/Getty]

Ex-Chrysler Pres. Tom LaSorda to advise Penske on Saturn sale originally appeared on Autoblog on Wed, 20 May 2009 17:34:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Filed under: Government/Legal, Hirings/Firings/Layoffs, Saab, Earnings/Financials

Saab remains confident that the motion to extend its bankruptcy protection for an additional three months will be approved in court and that it will be purchased in whole by one of three remaining interested parties early this summer. Those three parties will not be identified in court documents, according to Saab spokeswoman Gunilla Gustavs, but widespread speculation suggests they include both Fiat and Chinese automaker Geely.

Swedish laws are structured in such a way that a corporation that's filed for bankruptcy can extend its protection a total of three times over the course of twelve months if its business plan is solid. Saab's exit strategy includes a Swedish government-guaranteed loan of 500 million euros from the European Investment Bank and hinges on creditors acceptance of a 25% payback of Saab's current debt load and a slew of desirable new products. What could possibly go wrong?

[Source: CNN Money]

Saab 'confident' it will get deadline extension to restructure originally appeared on Autoblog on Tue, 19 May 2009 17:31:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Chinese automakers like Chery and BYD have been trying to break into the U.S. market for years, but General Motors could become the first automaker to sell China-made vehicles in America. A new document reveals GM is planning to sell China-made cars in the U.S. by 2011.

According to the document acquired by Automotive News, General Motors plans on selling about 17,300 China-made vehicles in the U.S. in 2011. The number is expected to blossom to 51,500 units by the year 2014. Read the rest of this entry »

Car and Driver - The 2010 Buick Allure isn’t your Grandfather’s Buick.  Defying conventional wisdom, this Buick sedan sports slick styling, a classy interior and hardware that’ll make even the most jaded buyer take a look.

2010 Buick Allure Exterior: This 2010 Buick Allure thumbs its nose at Buick stereotypes with handsome styling and an options list a mile long.  Over the last several decades, the idea of a Buick with flip-up DVD players in the rear passenger compartment would have elicited a question on whether a DVD box set of Matlock was included in the purchase price.  As the second car in the Buick revolution, and the first Buick Sedan with all-wheel-drive, it has a lot to prove. Read the rest of this entry »

Filed under: Spy Photos, Wagon, Europe, Buick, GM, Saab, Opel, Specialty

Opel's Insignia OPC is one of those "available elsewhere" cars that's got us licking our chops. The Insignia is headed to North America as a Buick, and enthusiasts everywhere hope the hotshot OPC version gets widely propagated. What's not likely to make any trans-Atlantic journeys is a wagon version of Opel's performance-enhanced sedan. Spy-shooters have nailed an Insignia OPC Sports Tourer running about uncamoflaged, and the wagon's got its sights trained on Audi's S4 Avant.

Built up from familiar General Motors pieces, the Insignia OPC Sports Tourer uses componentry we've seen before. The 2.8 liter turbocharged V6, six speed manual, and all wheel drive system with eLSD torque vectoring is a recipe cooked up by the Saab Turbo X, albeit Opel's version is spicier, with 325 horsepower on tap. Euro-flavored performance wagons are a delectable treat, but it doesn't look like the Insignia OPC Sports Tourer will be added to Buick's menu for North American automotive diners.

[Source: Carscoop, Photo: Carscoop]

Spy Shots: Opel Insignia OPC Sports Tourer caught naked originally appeared on Autoblog on Sun, 17 May 2009 16:45:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Filed under: China, Saab, Volvo, Earnings/Financials, Rumormill

According to the Chinese auto newshounds over at Gasgoo, Geely has denied it has any interest in buying Volvo or Saab. The Swedish patients, being shopped by Ford Motor Company and General Motors, respectively, are still up for sale, however.

As the story goes, Geely chairman Li Shufu has been cited as remarking that too much money is being asked for the two marques. According to a press release detailed by Gasgoo, the automaker has stated that it "has not submitted, and has no plans to submit, any bids concerning the takeovers of 'Volvo' or 'Saab' as stated in recent press articles."

In related news, someone might want to tell the bookies at a certain UK gambling website, Ladbrokes, that they may want to adjust their odds. According to Autocar, the sports betting site that allows customers to wager on everything from darts to Italian volleyball even has a pool going for who will win the right to purchase Saab. Thanks to everyone for the tips.

[Sources: Gasgoo; Autocar | Image: Joe Raedle/Getty]

Geely denies interest in Volvo and Saab, but you can still bet on who will buy the 'Born From Jets' brand originally appeared on Autoblog on Fri, 15 May 2009 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments