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Corvette moves into new era of high performance

The fastest, most powerful and most expensive Chevrolet Corvette ever will roar to life at the North American International Auto Show in Detroit next month, according to the Detroit Free Press.
Boasting a 620-plus horsepower V8 and a price expected around $100,000, the 2009 Corvette ZR1 is the result of General Motors chairman Rick Wagoner's challenge to build the ultimate Corvette.

The ZR1 aims to match the performance of supercars like the 612-horsepower $273,845 Ferrari 599 GTB Fiorano F1 coupe, which accelerates to 62 m.p.h. in 3.7 seconds.

"Our goal with the ZR1 is to show that an American supercar can deliver performance that beats exotics that cost two, three or four times as much," Chevrolet general manager Ed Peper said.

Posted by Peter C. T. Elsworth  at 11:40 AM to GM | Permalink | Comments 0

GM will sell medium-duty truck business to Navistar

NEW YORK - General Motors will sell its profitable medium-duty truck unit to Navistar International, The Wall Street Journal Online reported on Wednesday.

An announcement is expected on Thursday, the Journal reported, citing people familiar with the agreement. The report did not include terms of the sale.

Navistar spokesman Roy Wiley said that while the truck and engine maker was "very excited" at the prospect of buying GM's medium-duty truck unit, he could not confirm that an announcement would be made on Thursday. Navistar is manufacturer and marketer of medium and heavy trucks and mid-range diesel engines

GM, which did not immediately return calls seeking comment, sells the medium-duty trucks under the nameplates Kodiak, TopKick and Isuzu T-Series. It made 59,000 medium-duty trucks in 2006, about 12 percent of the market.

Posted by Peter C. T. Elsworth  at 11:32 AM to GM | Permalink | Comments 0

EPA rejects states' greenhouse-gas limits on cars

The Bush administration Wednesday derailed an attempt by California and 12 other states to enact the nation's first greenhouse gas-limits on new vehicles, according to USA Today.

The efforts by states to regulate carbon-dioxide emissions that are considered a prime cause of climate change are not necessary in light of the energy bill just signed into law by President Bush, the administrator of the Environmental Protection Agency said.

Posted by Peter C. T. Elsworth  at 11:18 AM to Environment , Government regulations | Permalink | Comments 0

Energy bill to save 'billions'

President Bush signed into law Wednesday legislation that will bring more fuel-efficient vehicles into auto showrooms and require wider use of ethanol, calling it "a major step" toward energy independence and easing global warming, according to USA Today.

The wide-ranging energy bill, passed by the House on Tuesday and the Senate last week, also addresses energy standards for light bulbs and appliances.

"We make a major step ... toward reducing our dependence on oil, fighting global climate change, expanding the production of renewable fuels and giving future generations ... a nation that is stronger cleaner and more secure," Bush said at a ceremony at the Energy Department.

"If you drive a car or if you use a toaster or heat your home, this bill is going to save you money," says Brendan Bell, Washington representative of the Union of Concerned Scientists. The environmental lobbying group estimates the vehicle fuel economy changes will save consumers $22 billion a year starting in 2020. In the home, the energy efficiency provisions could save $400 billion in electricity and gas bills by 2030, the group says.

Posted by Peter C. T. Elsworth  at 11:15 AM to Fuel economy , Government regulations | Permalink | Comments 0