Thursday Night Quick Snippets

It’s been busy here at SU-central tonight. We have some family coming from the mainland over the weekend so we’ve been baby-proofing the house, etc.
I thought I’d better jump on the computer, though, and post a quick update on some events from the last 24 hours that I haven’t covered yet.
I’ve received a number of emails about the fact that Saab aren’t the only company dropping their V6 engine in 2010.
Audi are also dropping their 3.2litre V6 offering from the A3, A4 and TT ranges of vehicles in the US market.
I still wonder about the loss of prestige from this.
Mark down May 2009 as the last continuous month of ‘normal’ operations for General Motors.
In what was undoubtedly the biggest story of the day, GM’s CFO Ray Young indicated that the company will default on a bondholder payment due on June 1. GM are trying to negotiate a debt-for-equity deal with these bondholders, but it looks unlikely.
This default will more or less automatically trigger a bankruptcy procedure, which I’m sure both GM and the US government are working on as we speak.
What I’d like some clarity on (still) is exactly how this will effect Saab and their ongoing effort in reconstruction.
Fiat CEO Sergio Marchionne said a few months ago that maybe only 6 automotive companies would remain when all is said and done at the end of this financial crisis.
He’s trying everything to make sure Fiat are one of them.
First there was the Chrysler deal, which looks like it’s going nowhere (though it’s still under negotiation). Now Fiat are being spoken of in terms of hooking up with Opel.
Is there anyone Fiat aren’t in bed with at this point? It’s like they’re the Paris Hilton of the automotive world.
Wolfgang has written in to me about an article in an Austrian news service stating that Magna are thinking about Opel as well.
Magna have fingers in just about everyone’s automotive pie, so it’s not too big a surprise that they’d be interested in consolidating their business in Europe.

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