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Ford, Chrysler, GM (Vauxhall) - Survival Plan in exchange for loans

The Detroit 3 - Ford, General Motors (Vauxhall) and Chrysler, have been told to provide a survival plan in exchange for up to $25 billion in loans.

The ultimatum came on Thursday after Democratic leaders failed to persuade the White House and congressional Republicans to use part of a $700 billion financial rescue fund to prop up the auto industry.

House of Representatives Speaker Nancy Pelosi, a California Democrat, and Senate Majority Leader Harry Reid, a Nevada Democrat, told a news conference that the "Detroit 3" must develop a bailout proposal by December the 2nd and it would be considered during the week of Decemeber the 8th.

"Until we can see a plan where the auto industry is held accountable and a plan for viability on how they go into the future... we cannot show them the money," Pelosi said.
Said Reid: "We can only help if they (the car makers) are willing to help themselves."

The requirement of a survival plan seems to have been in response to growing public resentment over the bailout package.

This leaves the future of General Motors, who are best known in the UK for the Vauxhall brand, Ford Motor and Chrysler LLC hanging in the balance.  Their losses have mounted during a severe economic downturn that has prompted Americans to largely stop buying cars, as people can't get the loans that they would normally use to buy them.

Shares of GM and Ford rebounded from multi-decade lows as the developments in Washington kept bailout hopes alive.  While most of Washington is anxious to see the companies survive, Republicans have been more wary of whether the money would really help, and Democrats have been more inclined to be generous to the huge employers of unionized labor.

Both General Motors and Ford pledged to cooperate.  It could be that the big 3 are saved by a proposed $25 billion energy department loan, which they could recieve in exchange for making greener cars.

This report was compiled by Justin Woodcock on behalf of Find-a-Part - Car Parts Search specialists since 1978.

Will you be filling up your car with tree fungus ?

A tree fungus could provide green fuel that can be pumped directly into tanks, scientists say. The organism, from the Patagonian rainforest,  produces a mixture of chemicals that is remarkably similar to diesel fuel.

The fungus, called Gliocladium roseum and discovered growing inside the ulmo tree (Eucryphia cordifolia) in northern Patagonia, produces a range of molecules that are almost identical to the fuel-grade compounds in existing fossil fuels such as diesel fuel.

Gary Strobel, from Montana State University, has been leading the work."This is the only organism that has ever been shown to produce such an important combination of fuel substances,", he said.  "We were totally surprised to learn that it was making a plethora of hydrocarbons."

If they can be proven to work on a mass-scale, then biofuels will be attractive replacements for unleaded petrol and diesel fuels.  The European Union has set biofuel targets of 5.75% of total usage by 2010 and 10% by 2020. But critics say current biofuels scarcely reduce greenhouse gas emissions and cause food price rises and deforestation, as farmers knock down trees and remove food crops to plant biofuel crops. Producing biofuels sustainably is now a target and this latest work has been greeted by experts as an encouraging step.

Details of the concoction, which Strobel calls "mycodiesel", will be published in the November issue of the journal MicroBiology - "The results were totally unexpected and very exciting and almost every hair on my arms stood on end," said Strobel.

This report was compiled by Justin Woodcock on behalf of Find-a-Part - Car Parts Search specialists since 1978.

 

GM (Vauxhall, Saab) and Chrysler to merge ? Ford To Sell Mazda ?

Vauxhall, Saab, Chrysler to become stable-mates ?

What Car is reporting that the credit crunch could force car giants General Motors and Chrysler to merge. GM owns the Saab, Vauxhall, Cadillac, Chevrolet, Corvette and Hummer brands, and Chrysler owns Dodge and Jeep. It seems that the public can't get the loans they need to purchase cars.

The two US-based companies are in talks to join forces, and save money by sharing administration and infrastructure costs, as well as developing cars on the same platforms in the future. Both companies have suffered heavy recent financial losses - According to ABC News, "GM reported a stunning $15.5 billion second-quarter loss.".  The current decline in car sales in the face of global economic gloom and rising environmental awareness has had a further impact. While talks are still ongoing, any sale would not affect the rights of the owners of cars built by either manufacturer.

Ford and Mazda

Ford is also reported to be considering selling its stake in Mazda. Ford owns one-third of Mazda, which is profitable and reported to be worth around $1.3 billion (about £750 million). Ford would use the money raised to help fund its troubled car sales operations in America, which have lost almost $24 billion since 2005.

According to ABC News, "Ford posted its worst-ever quarterly performance in July, with an $8.67 billion loss". The article linked also alleges that GM were interested in merging with Ford, before setting their eyes upon Chrysler.

This report was compiled by Justin Woodcock on behalf of Find-a-Part - Car Parts Search specialists since 1978.

Hybrid Cars in Paris - The next big thing arrives

Looking at car company news feeds and other sources surrounding the Paris Motor Show, it is clear that hybrid cars are set to become a large part in new car sales in Europe in the next few years.

Here is what some of the main manufacturers are doing to enable us to continue our addiction to cars without hurting the planet.

Renault

Renault and French electric utility EDF signed an agreement to create a large-scale, zero-emissions individual transport and travel system, starting with France. The objective is to establish electric cars as a viable and attractive transport solution for consumers. Renault are aiming to produce a zero-emissions vehicle by 2011.

Vauxhall

Vauxhall launch EcoFlex - the Vauxhall Astra will be the first car to carry the badge, which symbolises a move to reduced emissions and improved fuel economy.

Available initially as a five-door hatchback, the Astra ecoFLEX features a 1.7-litre turbodiesel engine to return 62.8mpg on the combined cycle and 119g/km of CO2.  Prices start at £ 16,340.

Volkswagen

Volkswagen unveils the Golf BlueMotion concept car, which is capable of achieving a combined 74.3 mpg while emitting just 99 g/km of CO2.

Peugeot

Those hip and happening dudes at Peugeot encourage car sharing through facebook, and release a new electric hybrid concept vehicle at the Paris Motor Show.

Honda

Honda will release 2 new hybrid cars in 2009, as part of their strategy to sell 400,000 hybrids per year by 2011. The new global hybrid, to be released in 2009, will launch in Europe first, before being released in North America.

Citroen

Citroen are going to release second generation "Stop and Start" technology on their new Picasso in 2009.

The concept car offers almost 70mpg on the combined cycle as well as low CO2 emissions of just 110g/km. It acheives this by using Stop & Start technology and six-speed EGS (Electronic Gearbox System).  When the new C3 Picasso is launched in 2009, diesel versions will be fitted with a Particulate Filter System and will meet the Company's green 'Airdream' criteria.

The new-generation Stop & Start system will retain the combined alternator-starter unit, and will produce better fuel consumption and lower CO2 emissions.

Audi

Audi also release a concept car in Paris, and buck the UK September sales slump with good sales performance from their new models - the A3 Cabriolet and TT TDI.

Hybrid Toxicity ?

Ironically, this movement towards greener cars may create a new environmental hazard - what happens to all the batteries when the car reaches the end of its life ?  HybridCars.com have an interesting article - on this, suggesting that while companies like Toyota will be as honest about this as they can, even going as far as providing a reward for returned car batteries, lithium ion batteries may provide the answer for the future.

Ford

It's also possible that drivers can make their own cars greener just by changing the way they drive, as Fords article suggests.  Ford also unveiled a new KA car at the Paris show, with customisation being the main selling point.

This report was compiled by Justin Woodcock on behalf of Find-a-Part - Car Parts Search Specialists since 1978.