Archive for the ‘Carmageddon’ Category

Saab: This is the end, beautiful friend

Yes, we’ve done this before, two years ago to the day… Saab has, once again, broken the limits of its owners. This time it’s not GM, like it was in 2009, but current stewards of the Saab brand Swedish Automobile who have said, “This is the end.” More correctly they have lodged an official notice […]

Don’t cry for me Argentina

So, what does the title of one of Andrew Lloyd Webber’s best known songs have to do with Hummer? Well, there’s about as much relevance there as there was of Hummer being a legitimate option in the automotive marketplace. In case you’ve missed it, earlier this week came the unsurprising revelation that General Motors could […]

Saab bites the dust

“We will work closely with the Saab organization to wind down the business in an orderly and responsible manner. This is not a bankruptcy or forced liquidation process. Consequently, we expect Saab to satisfy debts including supplier payments, and to wind down production and the distribution channel in an orderly manner while looking after our […]

The bigger they are, the harder they fall

The rumours and speculation have finally been fulfilled. General Motors, once the biggest car manufacturer in the world, has now filed for bankruptcy. The good news for Australia’s Holden is that it will remain unaffected by the bankruptcy proceedings which only affect US operations. “Holden is a subsidiary of GM but we are a corporate […]

GFC says, ‘No Volkswagen BlueSport for you!’

The Global Financial Crisis has seen Volkswagen temporarily shelve plans to put the svelte Concept BlueSport into production. A report on GoAuto quotes a hesitant Christian Haacke, Volkswagen product communications manager, “It is a niche product and especially in crisis times like this it will be a challenge to come up with a volume we […]

The most expensive car in the world

This stunning 1957 Ferarri 250 Testa Rossa can lay claim to being the world’s most expensive car after an anonymous bidder paid a world record auction price of €9 million (AU$16.2M). The winning bidder, bidding by telephone, boldly told the world ‘You know where you can stick your Global Financial Crisis’ as he, or maybe […]

Sackings force Karmann to file for bankruptcy

Carmageddon has claimed yet another scalp with news filtering through that body specialists Karmann filed for bankruptcy overnight. Best known for their stunning Volkswagen Karmann Ghia coupé, built from 1955–1974, the German coach-builders currently supply components and body work for convertible models to the likes of Audi, BMW, Mercedes-Benz, MINI and Volkswagen. Contracts with Audi […]

Porsche gives financial crisis two finger salute

Porsche has given the global financial crisis a two finger salute by posting pre-tax profits of €7.34 billion for the period 1 August 2009 to 31 January 2009. Sounds good on the surface, but… The result is based largely on cash-settled share option transactions surrounding the value of Volkswagen shares. Investment in future product lines […]

BMW cans Z4M … boooo!

According to iMotorMag BMW has succumbed to carmageddon and shelved plans for a Z4M. They will, however, offer an M Sport pack that consists of a body kit (a la 135i) and an ECU reflash to liberate a few more ponies from the 3 litre twin turbo. Presumably this will translate to other cars in […]

MINI axe jobs and reduce production

MINI is the latest manufacturer to feel the brunt of carmageddon with news they are set to axe up to 850 jobs from their Plant Oxford facility. An additional 150 workers will be cut from the engine plant about 50km down the road in Swindon. Worldwide sales for MINI dropped by almost 35% in January […]

Australian Carrera Cup series fails to launch in 2009

On Thursday it was announced the Australian 2009 Porsche Carrera Cup season would be cancelled due to a lack of cars to fill the grid. Porsche Cars Australia managing director, Michael Winkler, said “to enter the season without a robust grid of cars is simply not viable for all the major stakeholders. Motorsport is an […]

Mitsubishi waves goodbye to Dakar

The Global Financial Crisis has claimed its latest motorsport scalp with Mitsubishi quitting its Dakar Rally program. The withdrawal goes further and brings an end to Mitsubishi’s involvement in all cross-country rally events. Mitsubishi Motors Corporation says the global economy has forced them to tighten their belts. Brief statement below.