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Wednesday, 25 November 2009
 Swedish supercar maker Koenigsegg Group AB on Tuesday has backed out on its potential deal with GM to buy its Saab car brand. Call it an example of “bad timing”. That’s just what Koenigsegg Group AB’s chairman Augie K. Fabela II calls it as. He says the decision to pull out of the deal was purely due to the timing, but funding issues had been worked out. It was just a matter of executing he plan and the plan was fully funded. KoenigseggGroup AB took some precautionary steps in earlier months to secure the deal after in August it said it lacked about 3 billion kronor ($417 million) to conclude the deal. The company went to the Swedish National Debt Office about the government guarantee for the loan it needed to buy the unit. Though official amount for the acquisition was never announced, it was rumored that GM would get about $500 million dollars. GM Chief Executive Fritz Henderson said the company was "obviously disappointed," but "will take the next several days to assess the situation and will advise on the next steps next week." The dead in the water deal lays question to the future of Saab. Saab was one of the brands GM announced it would shed as part of its bankruptcy reorganization earlier this year. It currently employs 4,500 employees a majority of which live in Sweden. GM in recent months has been eliminating existing inventory and taking steps to handover the company to Koenigsegg Group AB, a move it must now reverse.  GM might be able to find another buyer for Saab though, automakers in China and India have been buying brands from restructuring US automakers. Last year Ford sold the Jaguar and Land Rover brands to Indian automaker Tata and GM recently sold its Hummer brand to Chinese heavy equipment manufacturer Sichuan Tengzhong Heavy Industrial Machinery Corp. Labels: GM, Hummer, Koenigsegg-Group-AB, Saab, Supercar, Swedish-Car-Maker, Tata-Motors
Monday, 12 October 2009
Finally, a sigh of relief for the Hummer fans, and the company, General Motors, is now successful in selling off its all-time favourite model. There were many who thought that Hummer would have a destiny similar to that of Penske-Saturn, which collapsed last week. But now the future of Hummer seems to be bright with General Motors signing sale agreement with China's Tengzhong. Even though there still are matters that need to settled, such as securing the final financing and passing regulatory approval, at least for the time being, things seem to have settled down. Formally known as Sichuan Tengzhong Heavy Industrial Machinery Corp., Tengzhong is a Chinese firm. And it has been months since the company is trying to buy out the Hummer. Tengzhong also has plans for the Hummer, it might operate the headquarters of Hummer near Detroit. Michigan's $20.6 million state tax credit has played a great part in persuading the company to take up such a decision. And the company’s fondness to maintain a strong base in the U.S. market can also be stated as a reason for this. Tengzong will focus on flex fuel E85 capability, diesel and six-speed transmissions. The diesel models are targeted hugely for the markets outside the U.S. Also, Hummer will become pioneer in offering an alternative fuel powertrain in every model it sells. And this the company will attain with the addition of E85 capability to the 2010 H3 and H3T. Officially, the deal includes the sale of the HUMMER brand, trademark and tradenames and the intellectual property necessary to manufacture vehicles under license. As per the agreement, the existing dealer network will also be given to Tengzhong. With a possible one year extension through June 2012, Hummer models will be made under contract with General Motors at the Shreveport and Mishawaka plants through June 2011. But the prospects of the company after 2012, is still shrouded in mystery. Labels: General-Motors, Hummer, Saturn
Thursday, 14 August 2008
As the Indian car industry is growing, various other industries in the country are supporting the auto majors. Indian software companies are now developing software systems for car models to suit various needs. These software are used in various safety devices which include engine operation systems, navigation system (GPS) and even to improve the fuel economy of cars. It is believed that the first software system for cars was developed somewhere in late 1990s. Gradually with the technological advancement, software industry today comprises about 30 percent of the overall cost of the car. The market for such software is sure to boom in the next few years. Software companies are now teaming up with Indian car majors to produce new software applications. It is expected that cars loaded with software applications are more user friendly therefore acts as a key factor for driving car sales. Microsoft and Hyundai have come together to build music and information systems in cars. Apple has signed an agreement with three car majors, the Ford, General Motors, and the Mazda to roll out new car models with iPod connections. Honda's new Accord incorporates a software controlled airbag system and the top-end electric car, Reva, uses a software application to monitor the production and use of electric energy. The need for improved safety and enhanced ease of driving rises at a faster pace, eventually, benefiting both the Indian car industry and the software industry. Labels: Car-Industry, Hummer, New-technologies-in-Car
Monday, 9 June 2008
Several big car brands are being off-loaded by American car manufacturers. Ford recently handed over the iconic brands Jaguar and Land Rover to Tata Motors. Car manufacturing biggies such as Ford and General Motors have a large number of popular brands under their wing. In the ever changing global market of cars, these large car corporations have found it difficult to sustain a vast spread of car brands and models and have resorted to unloading a few of those that have been pulling them down. 
General Motors has decided to sell off the popular ‘Hummer’ brand. In the glory days, Hummer has rolled out several bad boy SUVs across the world. These mean machines have been quite popular with the US army and have seen a lot of action in battle. They have even starred in quite a few hollywood war movies.
General Motors is putting the Hummer up for sale. Both Tata Motors and Mahindra & Mahindra, who were front runners for the Jaguar and Land Rover dealer, have shown interest. Labels: Hummer, Mahindra and Mahindra, Tata Motors
Wednesday, 27 February 2008
Have you ever wondered why the Cadillac and Hummer models are experiencing such a delay to come to India?
I think it is because they are converting them from left-hand drives to right-hand drives. Among hundreds of countries in the world, there are only 52 right-hand drive countries and India is one among them. Amazing but true! If the country had been using left-hand drives, then these cars would have arrived in India a long time ago. I understand that these cars are very costly and converting them after sales is again a costly business. In addition, no one in India is equipped to make this change in mass scales. It is good news that the companies have decided to do it themselves. I can only hope that this is the only change that these cars see when sold here. Article Submitted by IKnowCars Labels: Auto market competition, Cadillac, Hummer, new cars
Tuesday, 19 February 2008
After launching the world’s cheapest car for the ‘Aam Aadmi’, Tata Motors now plans to make vehicles for our Indian Army. Tata will display the ‘Light Specialist Vehicle’, a Humvee-like military vehicle that can carry out diverse missions including Special Forces missions for the military.
Indian military currently requires 30,000 to 40,000 such vehicles. Tata Motors should come up with state-of-the-art vehicles for the Indian Defense Forces. Moreover, an Indian company supplying to the Indian defense should remember not to compromise on quality.
Today’s warfare is more technically dependent than ever before. Tata should have a separate defense wing catering to Indian military needs. I hope more Indian companies join hands with Tata Motors to make this country self-reliant in defense. After all there is no dearth of talent in India! Labels: Hummer, Indian army, Indian Defense Forces, Indian Military, Tata Motors
Wednesday, 17 October 2007
People often think they are safer in an SUV than a Sedan or a hatchback. If you ask me I'll say that the Hummer is the safest and coolest SUV around. Agree? Sunil Shetty’s choice and a definite yes from all Indians who want a muscular and aggressive car that laughs at looks and speaks with performance! The Hummer is a South African SUV known for its ‘goes anywhere’ nature. It has a Vortec 3.7L engine that is astounding and makes off-roads simpler. Indian potholed roads will feel like butter on toast from inside this powerful animal. Hummer is on its way to India. General Motors recently announced that the Hummer H3 will launch in India sometime next year. However, GM is a little worried about the market possibilities. The general feeling is that the super premium brand vehicle will represent a niche market in India, but the current Indian market psychology leans towards small cars like the Chevy Spark. I say - come on GM, take a chance! We may wait for a while to get behind the wheels of a Hummer, but if you wait too long there are companies that will take your slice of the proverbial Indian auto market pie and the Hummer will be left high and dry! Labels: cars-India, Chevrolet, General Motors, Hummer, Imported cars, Indian car market, Launches in India, SUVs
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Swedish supercar maker Koenigsegg Group AB on Tuesday has backed out on its potential deal with GM to buy its Saab car brand. Call it an example of “bad timing”. That’s just what Koenigsegg Group AB’s chairman Augie K. Fabela II calls it as. He says the decision to pull out of the deal was purely due to the timing, but funding issues had been worked out.
