GM starts leasing Cadillac, Buick, GMC and Chevy models again

Understatement of the Year: It's been a rough 2009 for General Motors. The 101 year-old automaker lost billions of dollars in record time, its market share plummeted, and overall sales were down over 30%. Oh, and the General had to ask for billions in loans from the US government before ultimately going through bankruptcy. A bad year indeed.

The fact that GM went through these tumultuous times without a leasing program made matters even worse, but that's about to be rectified. GM is teaming up with US Bank on a pilot leasing program in Michigan, Ohio, New Jersey, New York and Connecticut. Already underway and set to run through August 31, the program will only apply to certain vehicles. The 2009 Chevy Malibu and Traverse, along with the Cadillac CTS and 2010 Cadillac SRX are included, joining the Buick Enclave, GMC Acadia and Chevy Equinox.

While the program is regional for the time being, the launch of the SRX will be accompanied by a nation-wide lease program through US Bank. Mark LaNeve, GM's vice president of U.S. sales, feels the SRX lease will help launch the new luxury crossover. "Leases are an important part of the luxury market, so we decided that launching the all-new 2010 Cadillac SRX crossover with a national lease will add a lot of excitement."

[Source: GM]

PRESS RELEASE:

GM Announces Lease Program - Provides an Additional Consumer Financing Option for New Vehicle Purchases

* U.S. Bank offers rates on select Cadillac, Buick, GMC and Chevrolet models
* Five-state pilot program covers eight models
* All new 2010 Cadillac SRX lease available nationally

Detroit – General Motors Company announced an expansion of leasing today with enhanced lease programs on select 2009 and 2010 Cadillac, Buick, GMC and Chevrolet models. The leases, offered by U.S. Bank, are part of a pilot program that includes select GM vehicles sold in New York, New Jersey, Connecticut, Michigan and Ohio. In addition, a lease on the all-new Cadillac SRX will be offered by U.S. Bank nationally. The pilot is currently planned to run through August 31, 2009.

"GM and our dealers have done an incredible job without a leasing program throughout this difficult economic period, but we always knew that we would get back into leasing as it is important to a certain group of our customers," said Mark LaNeve, GM vice president of U.S. sales. "We have a number of products that offer a great opportunity for a lease option. Also, leases are an important part of the luxury market, so we decided that launching the all-new 2010 Cadillac SRX crossover with a national lease will add a lot of excitement."

"U.S. Bank has one of the largest auto loan and lease programs in the nation. We have supported the auto industry for more than 50 years, and this is an example of our continued commitment to the industry," said Tom Wirth, who leads indirect lending at U.S. Bank.

Initially, lease offers will be available on the 2009 Cadillac CTS, Chevrolet Malibu and Traverse. For 2010 models, leases will also be available on the Cadillac SRX, Buick LaCrosse and Enclave, the GMC Acadia and the Chevrolet Equinox. Monthly payments will vary according to the customer's down payment and the first month's payment due at signing, but are expected to be very competitive. No security deposit will be required.

For more information, customers in the five lease states (New York, New Jersey, Connecticut, Michigan and Ohio) should visit their local Cadillac, Buick, GMC or Chevrolet dealer.

About General Motors: General Motors Company, one of the world's largest automakers, traces its roots back to 1908. With its global headquarters in Detroit, GM employs 235,000 people in every major region of the world and does business in some 140 countries. GM and its strategic partners produce cars and trucks in 34 countries, and sell and service these vehicles through the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel, Vauxhall and Wuling. GM's largest national market is the United States, followed by China, Brazil, the United Kingdom, Canada, Russia and Germany. GM's OnStar subsidiary is the industry leader in vehicle safety, security and information services. General Motors Company acquired operations from General Motors Corporation on July 10, 2009, and references to prior periods in this and other press materials refer to operations of the old General Motors Corporation. More information on the new General Motors Company can be found at www.gm.com.

About U.S. Bank: U.S. Bancorp (NYSE: USB), with $266 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,850 banking offices and 5,173 ATMs in 24 states, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.

Nissan studying turbochargers for future vehicles?

As much as we've grown to love Nissan's award-winning line of VQ six-cylinder powerplants, reality dictates that time marches on and a replacement will soon be needed. According to Tetsuya Takahashi, a manager at Nissan's Powertrain Engineering Division, a switch to smaller displacements may be in the offing along with a return to forced induction – much like what Ford has done with its EcoBoost series of engines.

Nissan and Renault have well-known plans to share virtually all powerplants from this point forward, and this move would likely allow for both small and fuel efficient powerplants for passenger car duty – which is especially important in Europe – along with somewhat larger and much more powerful engines for high-performance models. Drawbacks include the additional cost of the turbocharging hardware and a more difficult path to emissions approval, so future turbo Nissans are far from a sure thing.

For those old enough to remember Nissan's pre-2002 series of Z cars, which received its first turbocharger way back in 1981 and reached its horsepower apogee in the form of the 300-horsepower 300ZX Turbo in 1990 (not to mention the incredible RB and SR powerplants), this news may be welcomed with open arms. As far as we're concerned, a slightly detuned version of the VR38DETT V6 powering fire-breathing GT-R would look mighty fine under the shapely hood of the next-gen Z.

[Source: Motor Trend]

All future Jaguars and Land Rovers to feature aluminum construction

Jaguar has been touting the aluminum-intensive construction of the XJ sedan since the previous-generation model was introduced back in 2003. According to the automaker, the use of aluminum in lieu of steel can lead to an impressive 40 percent reduction in weight. That's bound to have positive effects on driving dynamics, performance and efficiency.

With its latest redesign, Jaguar claims to have improved its aluminum architecture even further, so it's not surprising that the company plans to extend the technology to the rest of its line. According to Ratan Tata, chairman of the company that now owns Jaguar Land Rover, "JLR is planning to have all its future cars constructed with light weight aluminum bodies resulting in considerable savings in weight, and reduction in CO2 emissions."

To go along with their new diets, Jaguar and Land Rover are known to be experimenting with hybrid powertrains. A kinetic energy recovery system may be in the cards for the XJ line in 2011 while Land Rover has been working on an Electric Rear Axle Drive that could debut in the upcoming LRX compact Range Rover.

[Source: Motor E Magazine]