First Publicly Available 2011 Camaro Convertible Fetches $205,000

The promise of being the owner of the first available production version of the yet-to-be-released 2011 Chevrolet Camaro Convertible was more than enough to make an unnamed collector drop $205,000 for the car at last weekend's Barrett-Jackson Auction. But at least the sale was for a good cause as 100 per cent of proceeds from the winning bid will go to the YMCA of Southern Nevada.

The car shown at the auction was the Camaro Convertible Concept. The actual production model seen in the teaser shots we added in the gallery below is scheduled to make its world premiere later this fall -most likely at the LA Auto Show- and go on sale across the States early next year.

General Motors said that for historical purposes, it will keep the first production example of the 2011 Camaro Convertible.

Opel / Vauxhall Announce New Small Car below the Corsa, Confirm Sporty Coupe and Small SUV

Speaking at a press conference in Eisenach on Thursday, Opel/Vauxhall CEO Nick Reilly revealed plans to build an all-new small car below the Corsa, with production set to start in 2013 at the firm's Eisenach plant in the east German state of Thuringia. "This new product will be an important element in our growth strategy" said Reilly.

The car is expected to go up against Ford's Fiat 500-based Ka and the forthcoming Volkswagen Up mini. According to an official statement from Opel, the as of yet unnamed city car will be geared towards customers who need "a small-sized fuel-efficient car in urban areas, but who do not want to compromise on technology, design or convenience".

The company added that the mini may also form the base for an all-electric, battery-powered version at a later stage.

GM's European unit said it will invest €90 million (approximately US$120 million) to manufacturer the small car on an existing production line alongside the Corsa at its Eisenach factory. According to the automaker, the decision to build the small car in Eisenach also benefits the Opel/Vauxhall's manufacturing plant in Zaragoza, Spain as it will receive additional Corsa production volume.

In addition to the announcement on Opel's future small car, Reilly also confirmed the automaker's plans to introduce a sporty coupe and small SUV to the firm's vehicle lineup.

"Along with other new vehicles, such as the upcoming electric Ampera [see here], a sporty coupe and a small SUV, we will significantly expand our product lineup in the future and offer customer choices in several more segments," said Reilly without getting into specifics.

Opel to Enter South American Market Starting with Chile Next Year

General Motors' Opel division is looking beyond Europe to increase sales and return to profitability. Following news of the company's interest to enter the Australian market and a previous announcement that it has signed a Memorandum of Understanding with Shlomo Group to export vehicles in Israel, Opel today revealed it will begin selling cars in Chile next year, making it the first country in Latin America to receive the German brand.

"German automotive engineering has a high appeal in South America and we are glad to start with Chile. I am confident that Opel with its new model range will be successful in making a differentiating statement," Michael Klaus, Executive Director Opel International Operations said.

The German automaker added that it will have direct business control over a dedicated Opel team that will be supported by GM Chile. No other details were released about the move.

Gallery: Opel's European Range

China's SAIC Considering Buying Stake in General Motors

Industry insiders are reporting that China's SAIC has expressed interest in buying a stake of General Motors come its public offering in November, though it has yet to make a solid commitment. GM has declined to comment on the matter.

The U.S. government is eager to unload its 61% stake in GM after taxpayers bailed out / loaned the iconic automaker to the tune of US$50 billion. This comes despite the political ramifications of selling part of the brand to foreign investors or sovereign-wealth funds.

The government has rejected suggestions that the IPO should be limited to domestic investors, however the Treasury has state that no single investor or investor group would receive, "a disproportionate share or unusual treatment."

The Initial Public Offering (IPO) of GM shares will include those held by the U.S. Treasury, a union-managed retiree trust and the Canadian government. The government's plan is to offload their stake in GM in one month, though GM CEO Dan Akerson believes it could in fact take years. The Treasury will wait until after the November midterms in order to keep politics out of the float.

SAIC's bid is not that farfetched, either. Insiders note that SAIC has been building cars with GM in China since the 1990, with its home market a key source of strength for GM. Year-to-date sales were up 19% in August, for instance, even though the U.S. and Europe are still struggling.

By Tristan Hankins

Source: WSJ

GM Sequel Concept, 2005

GM Sequel Concept, 2005

GM Sequel Concept, 2005

The Sequel is a hydrogen fuel cell-powered concept car and sport utility vehicle from General Motors, employing latest generation HydroGen3 technology developed by Opel. The Sequel uses a drive-by-wire system. It has a range of three hundred miles, and its only emission is water. It debuted at the 2005 North American International Auto Show and is now being shown at the 75th international car show in Geneva, Switzerland.

The vehicle can accelerate from 0-60 mph in less than ten seconds. It provides a high level of control on bumpy terrain, snow, and ice. 42 percent more torque and quicker deceleration when braking are additional benefits of some of the new technologies used in the Sequel.

GM Recalls Over 20,000 Cadillac CTS Models to Address Safety Issue with Glove Box

General Motors said on Monday it has issued a recall on 20,224 Cadillac CTS and CTS-V cars from the 2009-2010 model year to replace the glove box compartment. NHTSA's tests showed in the event of a frontal crash, if the front passenger is not wearing a seat belt, the risk of leg injury is higher than permitted under Federal law. It goes without saying that despite the NHTSA's findings, passengers should wear their seatbelts at all times.

Being a manufacturer recall, GM's dealers will replace the glove compartment assembly and, if necessary, in some vehicles modify the instrument panel structure, free of charge.

The Detroit automaker said the safety recall is expected to begin on or before October 20, 2010. For more information, owners of the affected CTS and CTS-V models may contact Cadillac directly at 1-866-982-2339.

GM Preparing Demo Fleet of 202HP Cruze EVs for South Korea

South Korea is really getting serious about electric vehicles. Following the news last week of a Kia CUV EV to join Hyundai's BlueOn i10, GM has announced it will build a demonstration fleet of battery-powered Chevrolet Cruze sedans from the end of October.

The cars will be deployed in Seoul, with GM planning on testing them in other, unspecified urban markets at a later date. The idea is to test the market needs and consumer acceptance of battery electric vehicles and to gather data on real-world driving patterns and charging behavior.

The demonstration vehicles will be badged both as Daewoos (as the Lacetti Premiere) and Chevrolets (as the Cruze), despite the fact the latter is not sold in South Korea.

The project is a joint venture between GM Daewoo, LG Chem (who make the batteries) and LG Electronics (who make the motor and invertors). GM and LG Chem have been working together since 2008 with this being their second project together after the Chevrolet Volt.

The Cruze EV features an underbody-mounted 31-kwh battery and an electric motor producing 150 kw (equal to 202-horsepower). Tthe demonstration vehicles can sprint from 0 to 100 km/h (62mph) in 8.2 seconds and reach a maximum speed of 165 km/h (102.5 mph). Tests by LG Chemical estimate that the driving range could be up to 160 km, with a recharge time of 8 to 10 hours on a standard 220 volt outlet.

GM has yet to reveal how many cars will be built or who exactly will be testing them, though these details will probably come with the launch October.

By Tristan Hankins