GM to invest $500 million in new compact(.5 Mil? Weedwhacker powered rollerskate)

UPI ^ | 8/25/08

[mylife]

GM to invest $500 million in new compact Published: Aug. 22, 2008 at 1:57 PM DETROIT, Aug. 22 (UPI) -- Auto giant General Motors Corp. is preparing to invest $500 million in a new compact car, slated for production in Lordstown, Ohio, the company said.

The Chevy Cruz is one of the company's answers to consumer demand for fuel-efficient vehicles and will reportedly run 45 miles on a gallon of gasoline, The Detroit News reported Friday.

The company plans to spend $150 million on development and $350 million on its Lordstown factory, the News reported.

GM lost $15.5 billion in the second quarter of 2008 with customers buffeted by rising gas prices and a weak economy, the report said.

Small cars have been less profitable for U.S. automakers than trucks and SUVs, but GM Chief Executive Officer Rick Wagoner said a new contract with the United Auto Workers union should help.

"Consumers are willing to pay a fair price for a good car. And (the UAW) has a significantly different labor agreement," he said.

"That should enable this car to be profitable," Wagoner said.

[mylife]

This should float Lordstown for another 10 years

[mylife]

.5 Bil my bad

Chevy is so invested in GREEN

Remember Le Car? No thanks

[mylife]

The Cobalt has been dumped already

[Petronski]

Your title is a train wreck.

[mylife]

And then there is the Volt

[2ndDivisionVet]

Why not just import the Tata Nano?

[Snurple]

[mylife]

yeah... what can ya do? Its out there ;)

[RegulatorCountry]

The Chevy Cruze is actually quite a nice looking four door sedan, can’t quite decide if it looks more like a baby Cadillac CTS or a four door Civic. A 45 mpg, nice looking four door sedan will sell very well. There is nothing remotely “le Car” about it.

[traditional1]

[mylife]

Gosh! Thats a spiffy car! Where can I buy one?

[Fresh Wind]

That’s no good. It doesn’t smile like the Smart Car does.

[I see my hands]

Duh! Just return the '59 Impala to production. It ran on gas that cost 29¢ a gallon.

[mylife]

I aint buying it

[JZoback]

"Consumers are willing to pay a fair price for a good car. And (the UAW) has a significantly different labor agreement," he said.

"That should enable this car to be profitable," Wagoner said.

Don't tell me the unions have finally figured out the company their thugs err' employees work for need to be profitable to survive

Shocking

[mylife]

Chevy Cruze

[mylife]

“Chevy Chevette” will drive you crappy....

Where have we seen this before?

[sionnsar]

[mylife]

Real “futuristic” I dig the fins.... ;)

[preacher]

Chevy Cruz