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...GM, which sold more vehicles in July than in June - and had a nice 16% improvement in pickup sales - lavished praise on the program and pressed for its continuation. "The government's program is doing what it is designed to do - spur consumers to trade in older gas guzzlers for new, fuel-efficient vehicles," said Mark LaNeve, GM vice president for sales. The Department of Transportation confirmed the fuel-efficiency gains on Monday, Aug. 3, noting that of the 120,000 rebate applications processed so far, the cars purchased have been far more fuel-efficient than the minimum requirements...

Author: /time Magazine | Title: Automakers Give Rave Reviews to 'Cash for Clunkers' | 8/4/2009 | See Source »

...GM and Chrysler may be on their last legs - but small, visionary startup companies like Aptera Motors, Fisker Automotive, Tesla Motors and Bright Automotive are starting to sell their cool, cutting-edge, battery-powered cars, and a decade from now any one of them might be the household name that epitomizes our 21st century industrial rebirth. (I just drove in an Aptera. It looks like an awesome Jetsons vehicle, plugs into the wall, drives like a dream, goes 100 miles on a charge, costs under $30,000 - and I want...

Author: /time Magazine | Title: The Coming New New Economy | 8/4/2009 | See Source »

...still trails Toyota and GM in global car sales, but its Japanese and American rivals have been hit harder by weakened consumer demand. Global car sales fell 18% in the first half of 2009. But the decline at VW was modest, with car sales falling just 5% to 3.1 million vehicles. Toyota sold 3.56 million vehicles, a decline of 26% from a year ago. GM, hot on Toyota's heels as the U.S. car maker emerges from bankruptcy, sold 3.55 million vehicles worldwide, down 22%. "VW is in a very strong position and has managed to ride out the economic...

Author: /time Magazine | Title: Why Volkswagen Is Powering Through the Recession | 7/31/2009 | See Source »

...world's biggest automaker by 2018. Winterkorn must defend VW's lead in China, which will soon become the largest car market in the world. According to IHS Global Insight, VW is now the largest manufacturer in China, with first half sales up 22.7% to 652,200 cars. But GM is rising fast in China, even as it struggles in the U.S., Europe and Latin America. (Read: "The Other GM...

Author: /time Magazine | Title: Why Volkswagen Is Powering Through the Recession | 7/31/2009 | See Source »

...pictures of GM's Eight Great Hopes...

Author: /time Magazine | Title: Why Volkswagen Is Powering Through the Recession | 7/31/2009 | See Source »

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