Cadillac to Show All-New Concept Model at LA Auto Show: What will it be?

We're still tuned into the SEMA Show, but the news from the fast approaching Los Angeles Auto Show keep dropping in. Now we've learned that General Motors will stage the global reveal of a never-seen-before Cadillac concept study. not surprisingly, details remain slim. It could be a concept for Cadillac's recently confirmed small sedan (often called ATS), which will go up against the BMW 3-Series and Audi A4, or something different altogether. We just don't know. But feel free to speculate in the comments section below.

Note: The car pictured in the opening 'chop is not the actual Cadillac concept
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GM Becomes First Global Automaker to Sell 2 Million Cars in China a Single Year

General Motors has set another sales record in China by selling its 2 millionth vehicle, thus making it the first global automaker to do so in a single year. However, it should be noted that this sales number was achieved by GM and its joint ventures in the country.

In 2007, the Detroit automaker and its partners sold 1,031,974 vehicles in China, rising to 1,826,424 vehicles last year.

"This is another important milestone for General Motors in China," said Kevin Wale, President and Managing Director of the GM China Group. "It was only three years ago that GM became the first global automaker to reach the 1 million annual sales mark in China."

Wale added, "Over the past decade, China's vehicle market has experienced unprecedented growth. GM has grown with it, working with our joint ventures to expand our lineup of vehicles and brands, adding to our portfolio of services, and increasing our production capacity to meet the changing needs of consumers nationwide."

According to GM, the company and its joint ventures have benefited from record monthly sales throughout the year. In October, the automaker and its partners sold 199,641 vehicles, marking a 19.6 percent annual increase and an all-time high for the month.

New Volkswagen Golf Cabrio will Arrive in Spring 2011

High ranking Volkswagen officials have confirmed that the company is planning to launch a third generation Golf Cabrio in spring of 2011. The announcement came during David McAllister's, Lower Saxony's Minister President and Volkswagen Supervisory Board member, visit at the Volkswagen site in Osnabrück on Friday.

Set up earlier this year on the former site of the Karmann holding company and integrating its know-how, the Osnabrück factory will initially employ a workforce of over 1,000, with plans to create a total of 1,800 jobs by the end of 2011.

"Over the decades, some of the most beautiful models in the automobile world have left the assembly line in Osnabrück. We will be carrying on this tradition from 2011 with the new Golf Cabrio," Winterkorn said during the tour of the site.

"It is wonderful to see this tradition being continued now and to know that automobile production in Osnabrück has a future. The new Golf Cabrio will be a great car. The extensive expertise in cabriolet construction that is available here is being harnessed" Mr. McAllister added.

The Mk1 Golf Cabriolet, also known in the U.S. as the Rabbit Convertible, Cabriolet, was first introduced in 1979. The body was entirely built by Karmann, while Volkswagen supplied all the other parts (engines, suspension, interior).

1984 saw the introduction of a larger fuel tank and smaller spare tire, while in 1988 all Cabriolets were fitted with a "Clipper" kit, in an attempt to keep the styling fresh. There were also special editions available, such as the Carat.

The Mk1 had an impressive 14-year lifespan, until 1993, when it gave way to the Mk3 Golf Cabriolet, that was sold for another 9 nine years before being discontinued.

By Csaba Daradics

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General Motors Could get Over $45 Billion in Future Tax Breaks

According to the ever-enjoyable Wall Street Journal, General Motors may come away from its near-death experience with over $45 Billion in tax breaks on future profits over. Yes, that is Billion with a "B". How exactly did that happen?

Somewhere in the hubbub of GM's catastrophic nosedive into failure, paperwork was put in place to utilize a "tax-loss carry-forward" plan that uses deferred tax assets.

In plain terms, GM gets to put the value of the money the Old GM "lost" (or threw away) prior to and during its bankruptcy on a piece of paper and say it wants to reduce taxable income by that much. This, apparently, can be applied over the next twenty years.

It seems that having limits in place is the norm in these "carry-forward" tax break situations, but the people running the country said any businesses getting TARP (Troubled Asset Relief Program) funds were exempt from such restrictions. This includes business like GM, which the government says will now look better to investors (feel free to discuss amongst yourselves below).

Tax consultant Robert Willens says, "The Internal Revenue Service has decided that the government's involvement with these companies, both its acquisitions plus its disposals of their stock, means [the companies] should be exempt." According to GM, US$18.9 Billion of the carry-forward breaks are from prior losses, while the rest is due to pensions, retiree benefits, property maintenance, etc.

By Phil Alex

Source: WSJ

2010 SEMA Awards: Not Surprisingly, Detroit's Three Score a Hat Trick

The organizers of the SEMA show have announced the winners of the very first SEMA Award contest for the hottest and most popular car, truck and 4x4 -SUV models at this year's edition of aftermarket event in Las Vegas. According to SEMA, the inaugural award recognizes the most tuner-friendly new models, based on the number of vehicles exhibited at the show.

The winners for each category were the Chevrolet Camaro (Cars), Ford F-Series (Trucks) and the Jeep Wranger (4x4 -SUV) - and thereby making all three Detroit automakers happy...

"A booth space is a ballot, and the models these exhibitors have selected represent their vote," said Chris Kersting, SEMA president and CEO.

And just in case you were wondering, here are the contenders for each category:

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