Chrysler auto news

Seth Rogen reveals new Black Beauty from The Green Hornet

The world's fanboys and girls have descended on San Diego for the 40th annual Comic-Con where Seth Rogen, most recently of Pineapple Express fame, unveiled the '66 Imperial due to serve as the Green Hornet's ride in next year's live-action flick.

Rogen, who's writing and starring in the film alongside Cameron Diaz and Nicolas Cage, took the wraps off the Black Beauty, complete with hood- and door-mounted machine guns, missile launchers, smokescreen and bullet-proof sheet metal and glass.

Rogen said that the producers tapped several automakers to create a modern interpretation of the Black Beauty, but in the end, "it was important that it seemed like a guy could actually build this car. This looks like something you could actually use on the streets... and I think it's going to be incredibly badass to see it in action."

Eternal Sunshine of the Spotless Mind director Michel Gondry has replaced Hong Kong comedian Stephen Chow, who was also tapped to play the Hornet's sidekick, Kato. The movie is set to be released on July 7, 2010. Make the jump to check out a video of the unveiling.

Gallery: Green Hornet's Black Beauty at Comic-Con

Continue reading Seth Rogen reveals new Black Beauty from The Green Hornet

VIDEO: Seth Rogen reveals new Black Beauty from The Green Hornet

The world's fanboys and girls have descended on San Diego for the 40th annual Comic-Con where Seth Rogen, most recently of Pineapple Express fame, unveiled the '66 Imperial due to serve as the Green Hornet's ride in next year's live-action flick.

Rogen, who's writing and starring in the film alongside Cameron Diaz and Nicolas Cage, took the wraps off the Black Beauty, complete with hood- and door-mounted machine guns, missile launchers, smokescreen and bullet-proof sheet metal and glass.

Rogen said that the producers tapped several automakers to create a modern interpretation of the Black Beauty, but in the end, "it was important that it seemed like a guy could actually build this car. This looks like something you could actually use on the streets... and I think it's going to be incredibly badass to see it in action."

Eternal Sunshine of the Spotless Mind director Michel Gondry has replaced Hong Kong comedian Stephen Chow, who was also tapped to play the Hornet's sidekick, Kato. The movie is set to be released on July 7, 2010. Make the jump to check out a video of the unveiling.

Gallery: Green Hornet's Black Beauty at Comic-Con

Continue reading VIDEO: Seth Rogen reveals new Black Beauty from The Green Hornet

REPORT: Marchionne thinks Chrysler could go public in 30 months

Analysts have been wondering when Chrysler would go public, and new CEO Sergio Marchionne has an answer: not soon. Some have speculated that Chrysler shares would be available on the stock exchange by the end of 2010, but Automotive News is reporting that Marchionne is giving a timetable of "not sooner than 2½ years." Marchionne obviously wants to hold off on going public until he and Chrysler's board of directors feel the company will command the appropriate value.

Reporters also asked Marchionne in a conference call when he felt Chrysler would be profitable. The Fiat/Chrysler CEO pointed out that he didn't feel such speculation was a good idea considering the fact that Chrysler has yet to have a post-bankruptcy board meeting. Good point. Chrysler's board of directors will be meeting on July 29.

Marchionne did, however, say that Chrysler would "generate healthy profit margins" once US auto sales hit 13-14 million units per year; something he doesn't expect to happen before 2011.

REPORT: Government ends warranty programs for GM, Chrysler

On March 30, President Obama announced that the federal government would back the warranties of General Motors and Chrysler in the event of bankruptcy. When the president says the word "backing," he means cold, hard cash, and in this case the total was $641 million. But with both companies out of bankruptcy court and flush with the government cash needed to run their businesses, it is apparently time to pay the money back.

Automotive News is reporting that new Auto Task Force head Ron Bloom informed a House Judiciary subcommittee that the government would no longer be backing the warranties of GM and Chrysler, adding "consumers can now feel assured that the companies have the financial wherewithal to meet their warranty commitments on a continuing basis."

GM and Chrysler have reportedly returned the $641 million, with interest. GM told Automotive News that it didn't use any of the funds, while Chrysler declined to comment on warranty matters as a matter of company policy.

Chrysler announces "Double CA$H For Your Old Car" promotion

With Cash for Clunkers slated to go live on July 23, every automaker appears primed to grab a piece of the action. Chrysler is no different, and its new "Double CA$H For Your Old Car" incentive program promises up to match the government's $4,500 "Clunkers" incentive for some vehicles.

Taking $9,000 off the MSRP of the vehicle of your choosing sounds fantastic, but of course, the program isn't that easy. First, obviously, you'd need a vehicle that is eligible for the maximum $4,500 allowance under the government's Cash for Clunkers initiative. Then, you'd need to find a Chrysler, Dodge, or Jeep vehicle that has the maximum $4,500 in incentives. If you can fit both of those criteria, you will receive $9,000 off MSRP. Chrysler is also offering 0% financing for up to 72 months through GMAC as an alternative to cash incentives.

Chrysler's "Double CA$H For Your Old Car" program runs from July 23-August 31. Hit the jump to view Chrysler's press release. Unfortunately, the release doesn't contain any information pertaining to which vehicles are eligible for the full incentive of $4,500.

Continue reading Chrysler announces "Double CA$H For Your Old Car" promotion

REPORT: Workers with union desk jobs being sent back to factory floor

In an action that is symbolic of the changes America's auto industry is undergoing, the cushy "union desk job" is reportedly about to disappear for many. According to The Detroit Free Press, UAW bosses at post-bankrupt Chrysler and General Motors plants are informing hundreds of elected and appointed colleagues that their desk jobs are being sent back to the factory floor.

The Detroit 3 have always paid for union workers at each plant to support labor-management initiatives, conduct union elections, and handle grievances. Most of these "desk jobs" were not at the plant, and they were reportedly enved by those required to do labor-intensive work in the factories. As such, the news is welcomed by those on the assembly line. "These people had cushy jobs," said Zeigler Johnson, a worker at Chrysler's Warren Truck plant. "Some of them could use a taste of life on the floor to remind them we still make trucks around here."

All told, the UAW is eliminating about 300 positions at Chrysler, while GM expects the change to impact less than 500 workers. The new positions are expected to take effect within the next 60 days.

REPORT: Chrysler Financial repays $1.5B in government loans

According to a variety of reports, Chrysler Financial has reimbursed the $1.5 billion it was loaned on January 16 through the Treasury Department's Troubled Asset Relief Program (TARP) - making Chrysler's financial arm the first auto-sector company to pay back its government loans.

Chrysler Financial says it used the funding to provide more thatn 85,000 consumer loans for vehicle purchases and said the quick pay-off was due to provisions contained withn the loan that would increase costs over time.

Although Chrysler Financial is still offering insurance and financial products to consumers at dealerships, GMAC Financial Services replaced Chrysler Financial as the automaker's preferred lender when the Pentastar people filed for Chapter 11 earlier this year.

Chrysler decides to keep third shift at Windsor minivan plant, VW Routan to live on

Earlier this spring as Chrysler stumbled toward bankruptcy court, one of the announced cost-cutting decisions was the elimination of the third shift at the Windsor assembly plant. That's the factory that produces the Chrysler Town and Country, Dodge Caravan and Volkswagen Routan minivans. According to Ken Lewenza, president of the Canadian Auto Workers union, the company has reversed course and will keep the third shift operational. Preserving the final shift will prevent 1,200 layoffs at the factory.

The change was made possible by a revised labor deal agreed to this spring, which cut $207 million in annual costs. Earlier this year, the plant "temporarily" ceased building the Routan for Volkswagen due to slow sales. According to VW of America communications director Steve Keyes, the Routan will live on as well. Keyes tells Autoblog "We will be introducing the 2010 MY vehicle this Fall and continue work on future models. Our goal was to capture 5 percent of the segment and we're meeting that target."

Gallery: First Drive: 2009 Volkswagen Routan

Respect Your Elders: Even Richard Petty stung by Chrysler's bankruptcy?

Chrysler fills out board of directors

The new Chrysler Group, LLC is out of bankruptcy, in bed with the Italians and the U.S. Government, and now it has a complete board of directors. Chrysler is forging ahead with a fresh group of board members, including former governors, Fiat royalty, and some people you've probably never heard of.

Chrysler announced the rest of its nine member board of directors over the holiday weekend, joining active chairman C. Robert Kidder, who was announced in May. Among the new board members are former Michigan Governor and U.S. Congressman James Blanchard, Fiat CEO Sergio Marchionne, Fiat Powertrain CEO Alfredo Altavill and former Northwest Airlines CEO Douglas Steenland.

Noticeably absent from the board is overt representation from the United Auto Workers, which is perhaps surprising as the labor group owns part of the new Chrysler. Hit the jump to read up on all of the automaker's board members.

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