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GM Readies Pickup Push (10/23/12)

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  1. General Motors0:02, 2:06
  2. auto show0:41
  3. Latin America2:18
  4. GM0:29, 0:49, 0:58
  5. European Commission3:19
  6. PSA2:40, 2:53, 3:08
  7. GMC Sierra0:06, 0:32
  8. Lower Saxony3:11
  9. Royal Bank of Canada1:54

Tue, 23 Oct 2012|

GM pickup push | Ally sells a unit | Bailout, French style


Automatically Generated Transcript (may not be 100% accurate)

For all scorers. General Motors will reveal the redesigned Chevy Silverado and GMC Sierra and December. Signaling the next new products -- -- full size pick -- battle with Ford and Chrysler is close. Details coming up. Welcome on this Tuesday I'm -- Snyder sitting in today for -- war back. GM will introduce the redesigned Chevrolet Silverado and GMC Sierra at a media event in Detroit December 13. Many had expected the general to launch the full size pickups at the Detroit auto show in January. But this leaves the next -- Corvette as GM's undisputed star at the big dance. And GM can get the pick ups in the public dies sooner. The new pick up won't go on sale before next summer as when he fourteenth. Until then GM must compete with trucks largely unchanged since 2006. Against the Ford F series. The Toyota Tundra launched in 2007. And I knew ram pick up the Chrysler is launching this month. GM has had overbilled its pick up all year for planned spot shut down for retooling at three plants that build the pick ups. It is slightly -- stocks of the Silverado to 114. Day supply and Sierra to 124 days. And plans to get both down 8085 days by year end. But sales of the F series ram and tundra have risen faster than the GM twins all year. And Silverado and Sierra both fell in September. Photos GM is released show the new pickups have a taller behavior Friday and and more chrome. Auto under ally financial has agreed to sell its Canadian operations to the Royal Bank of Canada. The deal due to close in early 2013. Is expected to raise four point one billion US dollars. Ally once known as GM AC what was the financial arm of General Motors. Is now 74%. Owned by the US treasury. More than thirty bidders including banks -- Our interest -- and allies international operations which still include Europe and Latin America. Last week ally agreed to sell its Mexican insurance subsidiary for 865. Million in cash. Allied received. Seventeen billion in government bailouts and has to date repaid five point eight billion. Speaking of bailouts France's spelled out what it wants in return if it is this auto maker PSA Peugeot Citron. He has -- board seats and more. Industry minister are not -- or told newspaper liberation all France would rescue PSAs finance arm. But once PSA to a point government and worker representatives to its board. Guarantee all PSAs French plants would stay open and scale back planned job cuts. France already owns 15% of right no but currently none of PSA. But the German state of Lower Saxony. Volkswagen's second biggest shareholder said it opposes French -- for PSA. And indicated Germany would ask for European Commission review. And that's our show for today thanks for watching. Back tomorrow we'll see you back here. That.

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    Eight polling that Tug of war what heavy duty YouTube has poured threatening to life. You're watching auto news now. Good to see you on this Monday. I'm Tom back for Ford and Chrysler the stakes couldn't be higher. According to true cart dot com heavy duty pickups represent 23%. Of all pick up sales in the US. In one of the main reasons to buy a big truck. Towing capability. a battle is raging between Ford and Chrysler's ram Brad. Over who can claim best in class Ford is threatening legal action if keeps claiming its pickups have besting class We're talking so called fifth wheel or goose neck trailer is connected in the pick up that. So here's the issue. Ford says 2015. F 454. By four crew cab can 31200. House. That's about 12100 pounds more than the highest capacity 3500. Which is rated at 30000. Pounds. But rim says the trucks are not even in the same class. It's is the F 450 is a class four pick up in fact the only class four pick up on the market. says the 3500. Actually competes against the F 350. In GM's 3500. Heavy duties. Reporter Larry tells us Ford does something no other automaker does when setting its maximum payload for the F series. It removes items like the radio. The spare tire the Jack. In the center console in order to produced the maximum number for its payload that's a questionable practice because a component truck over. Into another class. Larry says under the system used by other auto makers the F 450 would be considered class war. For more story in today's print and digital editions of Automotive News. Ford is raising prices on the new one in fifteen aluminum body F 150 pick up. Like 340 dollars to 3385. Bucks. The king ranch sees the biggest price increase over the 2014 model. Ford however has upped the standard equipment in all models of the truck for example to information screens are standard. Our Richard true it is also reporting the auto maker is trimming the number of F 150 models from eleven to five. With the new truck arrives this fall popular name plates such as the raptor in limited will be gone. Dealers started ordering the pick ups today. More business may be on the way to service based in GM dealerships. That's because the auto maker is offering buyers of its 2015 models for monthly vehicle diagnostic reports through OnStar. The move also allows customers to sign up to receive maintenance notifications from their stores. Both services will be offered at no charge for five years under a plan named OnStar basic. Previously. They were available only to paying OnStar subscribers. GM says that customers who are emailed me notifications from their dealerships. Come in for two additional service visits a year on average. Compared with customers who don't receive that. Cash for clunkers a phrase that was all the rage five years ago this month. Officially known as the car allowance rebate system clunkers was a lifeline at a desperate time in the US auto industry. US sales in June of 2009 dropped 28%. wasn't so lawful because every other month that your have been worse. But thanks to clunkers which provided consumers as much as 4500 bucks to trade in an old gas guzzler for a more fuel efficient new vehicle. July 2009 sales were off just 12%. In August sales that year were up 1%. In the end nearly 700000. Vehicles were traded in through the two point 85 billion dollar federal program. Have a great day everyone. We'll see you back here tomorrow.