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The average price of gas in the US just broke the $4.00 mark. What are you doing to save money on gas? Apply for the Discover® Open Road Card today and get 5% back on gas and other automotive purchases!
At the General Motors annual meeting in Delaware today, CEO Rick Wagoner will be publicly announcing the latest restructuring round for the beleaguered automaker. In response to plummeting sales of large trucks, GM will close down four more North American Assembly plants by 2010. The plants in Janesville, Wisconsin, Oshawa Ontario, Moraine, Ohio, and Toluca, Mexico are already running reduced production schedules and will cease operations entirely as products are discontinued or shifted to other plants. The Janesville plant builds medium trucks and SUVs while Moraine builds the old body on frame Trailblazer, GMC Envoy and Saab 9-7x SUVs. The other plants build full-size pickup trucks. The closures affect 10,000 employees at those plants. Those that aren’t among the 19,000 who are taking buyouts will be offered transfers to other locations to fill spaces vacated by the departing workers. The closures are expected to save GM about $1 billion a year.
Last week, we told you that a glut of SUVs on used car lots had led to low prices, making this a great time to buy a recent used sport utility or truck, if you have the need. Throughout the weekend, media reports have focused on the other side of that coin.
If you own an SUV, it’s probably losing value.
Gas prices rising steadily toward $4 a gallon have driven million of consumers to buy smaller cars this year. When they buy that small or midsize sedan, a tremendous number have used an SUV as a trade-in — leading to a glut of SUVs sitting on used car dealer lots this spring.
It seems the death knell of the Hummer H2 has been sound. Yes, that’s correct, we’ve just received word a decision came down within the last few weeks at the General to end production of the H2. But if you’ve been holding off on buying that H2 with the 28 inch DUBs and sound system with enough power to make you sterile, don’t freak out just yet. Instead of getting the axe right away, we believe the H2 will be allowed to live out its current product life cycle. This probably means the 2011 model year will be the H2’s swan song. Full death-filled conclusion to every environmentalist’s favorite target after the jump.
Investigators for the National Highway Traffic safety Administration are taking a closer look at 2007 Chrysler Pacificas equipped with the 4.0-liter V6. There is a concern that the vehicles could be prone to engine bay fires. A cross-threaded power steering fitting that prevents proper sealing of the hydraulic system could be the root cause. Chrysler has received 166 warranty claims and 25 complaints reporting smoke and fire breaking out. NHTSA has also received three complaints, and the fires seem to be localized to the front of the vehicle, indicating that a power steering leak could indeed be to blame.
London already charges a tax, known as a congestion charge, on almost all vehicles that enter central and parts of west London. Certain vehicles, such as those hybrids or eco-friendly fuel cars are exempt. Livingstone’s most recent announcement, however, vastly increases the charge for the highest polluting vehicles.
Vehicles in band G, those that emit more than 225 grams of CO2 per kilometre, will pay a whopping £25($50) every day to enter the congestion zone. This will mostly affect heavy 4×4 vehicles. Most other vehicles will continue to pay the daily charge of £8($16).
Who needs parking spaces when you have an SUV? Not this genius, that’s who…
Luxury SUV… $50,000.00
Custom Wheels… $5,000.00
Custom Stereo… $3,000.00
Seizing it from a drug dealer… Priceless