The Car Exam News #4 - August 12-14, 2010: GM says no to a mid-engined Corvette, Chrysler hopes to turn a profit—and GM does

No mid-engined Corvette from Chevrolet

GM officials say a mid-engined Corvette is not in the cards. This may have a great deal to do with development costs for such a car; while GM is doing better, it's not out of the woods just yet. The Corvette needs to stay affordable, and financial commitment needed for such a change would be substantial. A hybrid Corvette maybe in Chevrolet's plans, though, but time will tell.

Source: Automotive News (www.autonews.com) 8/11/10


GM turns a profit--and Whitacre prepares to leave

Speaking of General Motors, the company reported that it made a second-quarter net income of $1.3 billion dollars. This is good news for a company that needs to continue to become profitable--especially if it wants to get out from under government control anytime soon and shed its "Government Motors" label. GM also announced that Ed Whitacre will be stepping down as CEO on September 1, and will be replaced by Daniel Akerson. Whitacre will stay on as Chairman until December 31.

Source: Autoweek.com (8/12/10)


Chrysler hopes to turn a profit

Chrysler is hopeful that new products will begin to help the struggling automaker return to profitability. Chrysler has several new products like the 2011 jeep Grand Cherokee, the upcoming redesigned Dodge Charger and the Fiat 500 in the mix, Chrysler desperately needs new and improved vehicles to get customers in the showrooms.

Source: news.yahoo.com (8/7/10)