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Return of the Stingray (1/14/13)

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  1. General Motors1:07
  2. economic growth3:53, 3:56
  3. housing market5:03
  4. Middle East5:14
  5. GM1:09, 1:30, 4:59
  6. Automotive News5:31
  7. North American International Auto Show0:11
  8. Peter Brown5:33
  9. Tesla Motors2:12

Sun, 13 Jan 2013|

Latest Corvette debuts ahead of Detroit auto show, a tough task for Tesla, biggest threat to sales?, honor of a lifetime.

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Automatically Generated Transcript (may not be 100% accurate)

Welcome to this special edition up first I'm Jennifer bond. The North American International Auto Show -- trait is officially under way. Press preview days that came out earlier this morning. Journalists from around the globe had a very busy Sunday. Will begin with eye candy and the unveiling of the seventh generation Chevrolet Corvette. The -- of the 2014 bad things in the dark at that hit home runs fifteenth in Detroit Sunday. This sports car completely overhauled in fighting Al. It features and aluminum frame and other lightweight materials. Including a carbon fiber hood. And it's 450 horse power engine will move the car from zero to sixty miles per hour. In under four seconds. But it's simply this car is the reason. I would work. As General Motors. Dad's GM North America bonds are employees the new -- ballots could name -- that and gets up to thirty miles per gallon on the highway. And it also wears that -- we haven't seen since 1970. Day. Do you rate. Shed be saving the -- designation for the basket make over. We just a Royce how GM will use that -- which is not a high volume car when he -- overall -- game. If you look at stingray. And you look at Corvette over the years it's always been a huge part of why people. You know notre Chevrolet dealer number one has OS in the new Corvette right I mean you know there's lots of people that do that. And I think that's really important because it says what the brand is capable of doing. Bomb I think the brand is still all about Tom performance in many different ways not deserve to succeed the performance and expected value and I think. At the end of the day will get loyalty back to where we need to its Chevrolet with cars like this. In new Corvette to go to the sale and the third quarter. Meantime Tesla Motors CEO Elon Musk honored Sunday. Named global industry executive of the year. The award he did note during the third annual motor city automotive industry -- -- banks. During his acceptance speech mosque whose company cramps premium electric cars like the model asked. I -- want the biggest challenges facing his company in the immediate future. Now the tough thing this year that put put put put translates to -- -- for. Profit for the first time. That's that's I think that's when you -- Becoming a real company. -- recently reported that company with cash flow positive. During the week of November. This is of automotive analyst also meeting in Detroit Sunday. And forecasters say it while US auto sales should top fifteen million units and when he thirteen. There are some wild cards out there that may want. Washington DC. We think the wild card is likely to be in the discussion. -- budget issues you can't. Continued to spend three or four or five percentage points more of GDP and taking. The spending in the budget discussions and and how that may impact the economy -- and obviously. I impacts auto sales and consumer conference. Not to see fit everything is about that it medical here in terms of our deficit debt. But if we don't fix this and hold hands together. It will generate. A period very weak economic growth. We think 2% economic growth is -- that's really nothing compared to what. Potentially -- diseases a very important element to our future. But RL -- Tom Libby says they US hands managed to avoid major economic trauma. -- if it's just funny short term basis. So I would say that it's an ongoing I don't see it as something that they're gonna roll out to. Disrupt the economy in a major way -- -- that is -- economy is improving it's on the way back up nobody wants to go backward so I think that. IC that is really significant issue but I don't see it as as major issues I -- in December. Another issue high Social Security taxes has cut many Americans take home pay. But I didn't dot com Michelle cred he's no change in buying behavior. Pent up demand situation that age of the police is so. Old and people are just at the point they absolutely have to buy tires and again -- and that don't buying trucks. GM economist at Jane's gambling among those staying in improve housing market should help pick up sales. And as for the global industry. Europe remains a wild card -- for one is also watching unrest in the Middle East which could have backed oil supply. I see that as a wild card to. Nobody knows what's gonna happen this things personally and on the surface. And finally that her real awards took place last night celebrating diversity in the auto industry. Automotive News publisher Peter Brown they -- present the white and achievement award. Veteran journalist and former -- news staff member Kathy Jack thing. The event also highlighting the urban car of the year. The Cadillac ETS and each of the year of ram 15100. And that and today's first shift but be sure to watch -- who are back this afternoon -- on the news now. He'll be location bringing you full coverage of the show from the winners of the North American car and truck of the year to global vehicle repeal. We'll see you tomorrow.

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