Transformers: Build your own Chevrolet Autobot

Chevy’s marketing love for Transformers is moving up a level with the launch of a new website dedicated to Autobots. You can choose from a series of Chevy models (Avalanche, Aveo, Cobalt, Equinox, HHR, Impala & Silverado, but unfortunately, not the Camaro…) and customize them; theoretically speaking cause, to be honest, we got quickly bored and let it go. As for our Jalop friend’s quest for the perfect Decepticon, we wouldn’t look towards the Mustang but to Toyota; now there’s a true-blue enemy… Via: Jalopnik , Source: Chevrolet

Technorati: Transformers, Autobots, Decepticons, Chevrolet, auto+news, car+news, automobile, cars, automotive, vehicles, Carscoop, blogs, 2007

Update: Wagoner gets a 29% raise in base salary for 2007 and not a cut as Reuters / Automotive News reported

Late Friday night we posted an article questioning news-website reports that Rick Wagoner got a cut in his base salary. To make things short, Automotive News published an article via Reuters saying that GM’s CEO Rick Wagoner got a 25% cut in his base salary for 2007. We checked around several news sites and to our surprise, we found variations not only in concern of Wagoner’s 2006 total salary but also in whether he got a raise or not. You can check our full article here.

Sunday morning we sat down and riffled through GM’s 121 page-long SEC Fillings. A coffee and a few cigarettes later we found what we were looking for: As you can see on page 24 (or 26 in the PDF), GM notes, “Messer. Wagoner, Henderson, and Lutz recently reviewed this matter and in support of the continued GMNA Turnaround Olan, again decided that beginning March 1, 2007, they will continue voluntary salary reductions. The Committee agreed with this approach. Mr Wagoner’s salary will be $1.65 million. 25 percent less than his January 2006 base salary of $2.2 million.”

Confused? Well, let us straighten things out. Wagoner’s base salary in January 1, 2006, was $2.2 million. However, in February of the same year, Wagoner agreed to a 50% cut -actually, it was a 42% reduction as he got a $1.28 million “pay check” for 2006. As of March 1, 2007, Wagoner’s base salary is $1.65 million. Therefore, compared to what he should have received as a base salary according to his contract, Wagoner’s getting 25% less but, compared to last year's paycheck, he’s actually getting 28,9% more! In other words, GM agreed to restore 50% of the cut he received in February 2006.

Obviously, Reuters and subsequently Automotive News who citied the first as the source, neglected to check out Wagoner’s cut in February 2006.Thumbs up to Bloomberg for being the only site we checked that got all the facts right.

Data: Automotive News, Reuters, Bloomberg, Detroit Free Press, Detroit News, GM (GM Excel file)

Question of the day: Did or didn’t GM cut Rick Wagoner’s Base Salary?

Well, depends on whom you ask. See, what started out as a simple post on GM’s decision to cut off 25% of Rick Wagoner’s base salary this year turned into a reporter’s (or rather blogger's), nightmare when we decided to crosscheck the facts. First we read an article on Automotive News (via Reuters) announcing that GM’s CEO takes a 25 percent pay cut to support turnaround, meaning that as of March 1, Wagoner's base salary was $1.65 million, down from $2.2 million in January 2006. A visit to Reuters reveals a more detailed article which adds that Wagoner's total compensation for 2006 was $10.2 million -including $3 million in option awards and $3.6 million in stock awards. -Continued: Click "Read More..." Below

Next stop, Detroit News. Whereas the two articles (Automotive News / Reuters & Detroit News) agree on Wagoner’s total compensation, the site reports that GM’s CEO received a basic salary of… $1.28 million in 2006. Note that Detroit News doesn’t talk about any cuts in Wagoner’s “wage”. Detroit Free Press on the other hand, agrees with Detroit News on the basic salary -$1.3 million, but cuts $600.000 off his total compensation ($9.6 million)!

Before we go to GM’s official site, we decide to look at Bloomberg. According to the latter, Rick Wagoner's total compensation for last year was $10.2 million, including $1.28 million in salary, $769,566 in other compensation and $6.67 million in stock options and awards. Bloomberg notes that Wagoner's salary was 42 percent less than the $2.2 million he got for 2005, due to a 50 percent pay cut he agreed to in February 2006. And here’s another surprise, Bloomberg adds that GM said Wagoner's salary for this year will be $1.65 million, restoring half of the cut! In other words, according to Bloomberg, Wagoner got a raise!

Finally we head over to GM’s site to get the official numbers: $ 1.283.333, Stock Awards: $3.574.594, Option Awards: $3.095.560, Change in Pension Value & NQ Deferred comp: $1.468.100, All other Compensations: $769.566, Total 2006 Compensation: $10.191.153. Confused? So are we and its getting really late so we’ll just let the facts talk for themselves, we think….

Data: Automotive News, Reuters, Bloomberg, Detroit Free Press, Detroit News, GM (GM Excel file)

Oh boy; Toyota surpasses GM in Q1 global sales

We knew it was eventually going to happen but it’s one thing hearing rumours and thoughts and another facing cold hard fact; in the first quarter of the year Toyota’s global sales rose up 9% to 2.350.000 units compared with 2.260.000 units for GM (3% rise in sales). The way things are going, Toyota will most probably manage to top GM at the end of the year as the worlds largest car manufacture.

And while some might say, ok, what’s the big deal in being first or second (apart from GM’s hurt pride), truth is that sales tell us only a fraction of the story. The real big deal is called “market capitalization” and that’s where Toyota totally dwarves its American competitor; at $225 billion the Japanese car maker is worth more 12 GM’s ! Via: Reuters

Technorati: GM, Toyota, Sales, automobile, cars, automotive, vehicles, autos, Carscoop, blogs, 2007, images, pictures

Chevrolet Trax Concept to debut along with two more Minicar Protoypes in New York

The change of times: Chevy is going to introduce not one, but three new global minicar concepts at next week’s New York Show. To make things even more intriguing all concepts where designed at GM’ s Design Studio in... Incheon, South Korea and based on the company’s global mini architecture. The one shown here is the 5door-hatch Trax, which is powered by a 1-liter gasoline engine.

We haven’t seen the other two yet but the General seems to be serious as after the official unveiling on April the 4th, GM will open a dedicated site at where you'll be able to vote for the concept you liked most. According to GM, the results will help Chevy determine U.S. market interest in the minicar segment, and which (Korean…) design resonates best with buyers. Via: CheersandGears
-Continued: Click “Read More…” below to see the official press release

Chevrolet Prepared to Unveil Three Minicar Concepts Next Week in New York

The Chevrolet Trax is one of three Chevrolet minicar global concepts that General Motors will unveil at the New York International Auto Show on April 4. Designed to appeal to young car buyers in urban markets, these concepts will prove that art needn’t take a back seat just because the canvas is small. The highly creative concepts drive the energy, diversity and excitement of urban life into cars that deliver good-looking fun, fuel economy and value.

After the April 4 unveiling, democracy lovers will get the chance to pick their favorite by visiting www.vote4chevrolet.com and cast their vote for the concept they prefer. The results will help Chevy determine U.S. market interest in the minicar segment, and which design resonates best with potential buyers.

All three concepts were designed at GM’ s Design Studio in Incheon, South Korea, one of GM’s 11 Global Design Studios. Built on GM’s global mini architecture, they demonstrate the flexibility, creativity and innovative focus of design in GM’s Asia Pacific region.

“These concepts highlight the strength and diversity of GM’s Global Design capabilities, as well as the ability of our Global Product Development team to anticipate and quickly meet the evolving needs of our diverse markets around the world,” said Ed Welburn, vice president, GM Global Design.

The four-door Trax is powered by a 1-liter gasoline engine. The upper part of the exterior is bathed in Blaze Orange, while lower corner panels sport a Burnt Orange matte finish. The paint combination provides a look that reinforces the notion this Chevrolet is all business despite its small size.

Technorati : GM, Chevrolet+Trax, New+York+international+Auto+Show, NYIAS, auto+news, car+news, automobile, cars, automotive, vehicles, Carscoop, blogs, 2007, pictures, images

NY Auto Show: GM announces worldwide debut of 1 surprise concept and 6 production models

Although GM hasn’t released anything yet on its media site we found this interesting -albeit vague, press release on the NY Show site: “General Motors will roll into the New York International Auto Show press days with one of its strongest lineups of production and concept cars in recent history. In addition to the closely guarded world concept that will debut on April 4 at the GM stand, six production models will make their world premieres; the Saab E100 concept will be revealed for the first time in North America, and another 11 future production models and futuristic concepts will pack the stand with news”

Technorati: GM, New+York+International+Auto+Show, NYIAS, auto+news, car+news, automobile, cars, automotive, vehicles, autos, Carscoop, blogs, 2007, images, pictures