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Breaking News! GM's Bob Lutz to Retire at the End of 2009

GM has announced that Bob Lutz, GM's Vice Chairman of Global Product Development is going to transition into a new role starting on April 1, 2009 as Vice Chairman and Senior Advisor. Lutz's new role will allow him to provide strategic input into GM's global design until his retirement at the end of 2009.

Thomas Stephens will take over as the Vice Chairman of Global Product Development.

GM Reportedly Cancels Plans for Engine Plant in Flint, MI

It is being reported that contracts for GM's new engine plant in Flint, Michigan have been canceled.

The $370 million plant was supposed to produce the 1.4L engine for the upcoming Chevy Volt and Cruze in turbocharged and naturally-aspirated forms. GM spokesperson Sharon Basel, confirmed the news to the Flint News. Basel also stated that GM remains committed to the area and could possibly build the engines at one of the existing plants in the future.

The plant would have created 300 new jobs for the suffering town of Flint.

For now the engines will be produced by one of GM's European plants that already builds variants of the "Family Zero" engines, which range from 1.0-1.4L in size.

Spy Shots: Chevy Camaro Convertible Caught Testing Down Under

The 2010 Chevy Camaro finally enters production this March, but GM has yet to officially unveil the convertible version. We've seen countless photos of the new Camaro, but here are two more of the convertible testing in Australia.

According to Bob Lutz, GM has reportedly pushed back the release date of the Camaro Convertible until sometime in 2011.

GM Stock Drops to its Lowest Point in 55 Years...Is the End Near?

Last week GM reported that it lost $2.5 billion in the third quarter of 2008, while spending $6.9 billion. Today General Motors stock has plunged more than 31 percent to their lowest level in more than 55 years after two analysts downgraded GM's stock claiming that it will be worth very little of nothing if GM does receive a government bailout.

Deutsche Bank analyst Rod Lache reduced GM to sell and put a price target of $0 a share.

"Without government assistance, we believe that GM's collapse would be inevitable, and that it would precipitate systemic risk that would be difficult to overcome for automakers, suppliers, retailers, and sectors of the U.S. economy," Lache wrote. "As part of GM's restructuring, we are also convinced that a large number of stakeholders who are senior to GM's equity will have to settle for pennies on the dollar."

Chevy Plans To Reveal Production Volt Later This Month, I’m Too Excited To Be A Smartass

Production Simulation Based On Chevy Volt Spy Shot

According to Auto News, GM announced today that they will reveal a production model of the Chevy Volt later this month in celebration of their 100th birthday on September 16th. The Volt preview will be granted to GM employees at headquarters in Detroit, and has been confirmed by a source within GM to be a “true representation of what the production version looks like.” The source added, “[it will be] somewhat different from the concept versions.”

I admit I came down a little hard on Chevy when spy shots of the Volt on the set of Transformers 2 were leaked, but that was just the initial shock talking. Now that I’ve had time to digest reality, I’m once again excited about flaunting some American innovation under Japan’s nose. Now the biggest item on my agenda is begging and pleading for the privilege of eventually taking the Volt for a spin. As a matter of fact, at this point I think it’s safe to say I’d do just about anything to get behind the wheel of a Volt, and I do mean anything [ha ha! Just kidding Mom!] [No I'm not, GM]

Spy Shots: Production Chevy Volt Caught on the Set of Transformers 2!

Earlier today a photo of the interior of the production Chevy Volt hybrid surfaced and now we have some shots of the car on the set of Transformers 2. What's exciting is that these our are first look at the production version of the car.

Full Text Of The Not-So-Big Three Automaker Bailout Bill [Carpocalypse Now]

We're not usually ones for jamming our thumbs into our own eyes. Be that as it may, we're going to start sifting through the full discussion text of the automaker not-a-bailout bill entitled: "To authorize financial assistance to eligible automobile manufacturers, and for other purposes." Sounds thrilling, doesn't it? Read along with us here.

Chevrolet and Lexus beat new Mercedes BlueTec SUVs in price and fuel-economy

Even though diesel is topping $5 a gallon in some areas of the U.S., Mercedes-Benz believes that its new line of 50-state clean-diesel Blutec vehicles will account for 15 percent of SUV and crossover...

CNBC: Lutz Calls Wagoner "Best. CEO. Ever." [Carpocalypse Now]

On CNBC this morning, GM product czar "Maximum" Bob Lutz said GM CEO Rick Wagoner is "without doubt the best CEO I've ever worked for." Well, duh. Have you seen the other CEOs he's worked for?

Bob Lutz Career Chronology:

1963 - 1971: GM
The CEO at GM for the first four years was Frederic G. Donner and James M. Roche for the latter half of Bob's time at GM Europe in the 60s and 70s. Ah, those were the days. You know, when GM was totally getting sued for making cars "unsafe at any speed."

1971 - 1974: BMW
While at BMW, the CEO was Eberhard von Kuenheim, who helmed the company from 1970 to 1993. During those 23 years, BMW went from 23,000 employees to 71,000 and annual revenue rose from €15 billion from €880 million. Maybe the best CEO Lutz has actually worked for, but this was in the 70s and he probably doesn't remember that far back.

1974 - 1986: Ford
Bob got to work with all sorts of fun folks like Lee Iacocca and Henry Ford II during some of the most tumultuous years of the automotive industry. Well, until this year. Also helming Ford were non-luminaries such as Phil Caldwell and Don Peterson. Remember them? Yeah, we don't either.

1986 - 1998: Chrysler
Heads to Chrysler to work with his buddy Lee again, then Bob Eaton. Gets to design the Dodge Viper (yay!) and the PT Cruiser (boo!)

1998 - 2002: Exide
Bob actually IS the CEO here, so presumably he believes Rick's better than he is. We've no doubt of this.

2002 - present: GM
Bob workin' it with "Slick" Rick Wagoner where the two get along like peaches n' cream.

[CNBC]

The Detriot 3 Credit Crunch/Lease-Purchase Donkey Punch

Chrysler, ostracized earlier last week for its unorthodox decision to end its leasing program, has apparently started a maelstrom of similiar acitivty. Completing The Detroit 3 panic trifecta, both Ford and GM-controlled GMAC are planning to throw in the credit towel – sort of. Not quite willing to make the huge commitment made by Chrysler to completely eliminate leasing programs, both Ford and GMAC have announced plans to significantly distance themselves from the leasing industry.

GMAC, a financing company who owns controlling stock in both Chrysler and GM, has already ordered the end of its subsidized leasing program in Canada [effective Friday]. Although spokespeople for GMAC won’t disclose whether this initiative is U.S.-bound, GM dealers in the U.S. admit they have already been notified of the pending policy change.

Ford, adding to its growing list of unprecedented inter-company changes, has also made the decision to alter its leasing policy. According to Ford Motor Credit, in order to protect themselves from further financial loss, leasing prices on Ford vehicles will go up – way up. The theory behind Ford’s defensive action might prove to be the smartest one made by the Detroit 3. Said Ford retailer Group 1 Automotive Inc. CEO Earl Hesterberg, “They’re going to do some things to reduce their percentage of leasing, but I think Ford has understood more than anyone through thick and thin that there’s a leasing market there for certain types of vehicles.”

Also introducing plans to end auto leasing-programs are two auto-financing titans, Wells Fargo and Chase Bank. Cue total banking crisis in 5, 4…

[Source: Autmotive News]

GM’s Vice Chairman Bob Lutz Proclaims ‘Global Warming is a Crock of ****!’

GM-BobLutz.jpg picture by willfusion

Bob Lutz wants to hear if you can smell-ell-ell-ell-ell… what the Vice Chairman is Cooking!

Can you hear me now? …How about now? Is this better? Can you hear me Now?

Please feel free to leave your own caption in the comments section. This photo is just too amusing to leave alone.

There are few executives out there that are masters of the sound bite. The one’s that are prove to be so because they are speaking their minds and have minds that are filled with their own opinions, own judgements and own thoughts. Like those other masters of the sound bit Bob Lutz is not out to convince you he is right by talking to you. He is not there to hold your hand and lead you to his conclusion. He is there to build cars and meet new challenges. It is just to our curious benefit that he takes time out of his GM schedule to share his hardened, unyielding sound bites.

So follow us through the link and let us check in on some of the latest from Bob Lutz (quotes provided to us via FrontBurner): (more…)

Young Captain Kirk Crashes Vintage Corvette Off Cliff In Star Trek Trailer [Star Trek]

It looks like someone's snagged a bootleg of the trailer for the upcoming Star Trek movie off the front of the James Bond flick Quantum of Solace. While Wert may have been focused on the Ford Edge, we noticed the trailer showing a young Captain Kirk driving a C2 Corvette convertible off a cliff in an effort to evade a masked flying motorcycle lawman of some sort. The ever-defiant Kirk bails just as the Vette slides off the edge, saving himself while killing the car. The trailer goes on to show off all the well-known characters from the Trekiverse along with what appear to be a host of new baddies, the ship, and explosions. Come on, let it out — you know that closet Trekkie nerd just let out a silent whimper of excitement. We know, and it's OK, we did it too.

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