News that makes or breaks a carmaker’s future isn’t typically found in Danbury, Connecticut, but these aren’t typical times. Saturn’s Franchise Operations Team (FOT), a group of eight dealers, has a task force being led by Todd Ingersoll of Saturn of Danbury, and Ingersoll is saying that Saturn will live on.

“In the next three weeks, we will announce a long-term partnership that will provide Saturn with world-class cars,” Ingersoll told the Danbury News Times. “Saturn is a brand that is beloved by consumers.

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Hidden away in General Motors’ plans for the next 60 days is a bankruptcy strategy that could see its most successful brands peel off to form a second company, leaving the other brands to languish in bankruptcy for a more extended period.

The news comes from an anonymous source within GM via Reuters, and includes hints at what the new company would look like. Formed out of the most profitable units within the current GM, the company would split off during the early parts of a GM bankruptcy filing, reorganizing into a separate business.

Other brands, like Saturn, Pontiac, Hummer and potentially others, would remain in bankruptcy until sold or otherwise relieved of their debt burdens, leaving the still-viable segments of GM’s business to carry forward without an albatross around its neck.

The split-GM scenario presupposes a corporate bankruptcy filing, however.

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General Motors has confirmed that CEO Rick Wagoner will resign at the behest of President Barack Obama and his auto industry task force. Wagoner is stepping down from the top spot, effective immediately, and will be replaced by the company’s current COO Fritz Henderson.

Wagoner confirmed that his decision was made purely to appease the White House, but with losses of more than $82 billion since 2004 and a 95% decline in the company’s share price since 2000 – about the same time Wagoner stepped in – it may be time for GM to get a new boss.

Another managerial switch taking place today includes the appointment of Kent Kresa, chairman emeritus, Northrop Grumman Corporation, as interim non-executive chairman of the board of directors.

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Despite the global economic downturn, the nation of China is still on track to become the world’s largest automaker by this year. Currently, China remains in second place to Japan, but last year the Chinese managed to overtake the U.S. to claim their current second-place position, and this trend is expected to continue this year, with China holding the lead spot through at least 2013 based on current trends.

Market research firms are predicting that China will manufacture around 8.7 million vehicles this year, over a million units more than Japan is expected to produce.

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General Motors has confirmed that CEO Rick Wagoner will resign at the behest of President Barack Obama and his auto industry task force. Wagoner is stepping down from the top spot, effective immediately, and will be replaced by the company’s current COO Fritz Henderson.

Wagoner confirmed that his decision was made purely to appease the White House, but with losses of more than $82 billion since 2004 and a 95% decline in the company’s share price since 2000 – about the same time Wagoner stepped in – it may be time for GM to get a new boss.

Another managerial switch taking place today includes the appointment of Kent Kresa, chairman emeritus, Northrop Grumman Corporation, as interim non-executive chairman of the board of directors.

Read more

Building a successful hyper-luxury limousine is a tricky game. While brands like Maybach and Bentley are struggling to find success, Rolls Royce is posting year after banner year of sales improvements. Now a newcomer has entered the game, and the result is catastrophically interesting.

Built by noted Chinese carmaker Geely, the GE is equipped with nothing short of a throne in its rear quarters. That’s right, a single, ultra-opulent, center-positioned seat styled for the executive that’s so important he needs 17.4 feet of sedan to haul just his ego around.

Of course, there’s room for an enormous wallet in the trunk, though despite the obvious homage to Rolls Royce styling, the Geely is likely to cost several orders of magnitude less in its home market.

Geely GE Limousine

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Despite the global economic downturn, the nation of China is still on track to become the world’s largest automaker by this year. Currently, China remains in second place to Japan, but last year the Chinese managed to overtake the U.S. to claim their current second-place position, and this trend is expected to continue this year, with China holding the lead spot through at least 2013 based on current trends.

Market research firms are predicting that China will manufacture around 8.7 million vehicles this year, over a million units more than Japan is expected to produce.

Read more

Building a successful hyper-luxury limousine is a tricky game. While brands like Maybach and Bentley are struggling to find success, Rolls Royce is posting year after banner year of sales improvements. Now a newcomer has entered the game, and the result is catastrophically interesting.

Built by noted Chinese carmaker Geely, the GE is equipped with nothing short of a throne in its rear quarters. That’s right, a single, ultra-opulent, center-positioned seat styled for the executive that’s so important he needs 17.4 feet of sedan to haul just his ego around.

Of course, there’s room for an enormous wallet in the trunk, though despite the obvious homage to Rolls Royce styling, the Geely is likely to cost several orders of magnitude less in its home market.

Geely GE Limousine

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We’ve seen gold-plated Aston Martins and even Fiat 500s, but until now the cars receiving the treatment have largely been worth less than their paint jobs once all was said and done, save rare specimens like the gold-ensconced Rolls Royce Phantom - but not this time. A gold Bugatti Veyron out of Dubai brings together opulence and excess in a way few people can fully envision.

It certainly takes a special kind of eye to look at a $1.75 million Bugatti Veyron and think, “I’d like to draw more attention…I think I’ll paint it gold.” But that’s exactly what the car’s Kuwaiti owner did.

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Historic electric car brand Detroit Electric (DE) confirmed early last year plans to launch a range of all-electric vehicles for sale in Europe and North America by the end of the decade. The company has now taken a major step forward in realizing those goals with the announcement today that it has signed a deal with Malaysia’s Proton to start building the first cars from next year onwards.

Under the agreement, Detroit Electric will install its all-electric powertrain in two separate Proton vehicles which will then be sold under the Detroit Electric brand.

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