2003 Chevrolet Tracker on 2040-cars

Auto blog

New auto loans could soon extend out to 84 months

Cars and trucks are more expensive than ever before. In order to boost sales and help consumers afford new vehicles, automakers are offering longer and longer terms for auto loans. This past week, Bloomberg reported that FCA's Ram Trucks division is currently offering the longest loans. Some stretch to 73 months. Jeep, Fiat and Chevy aren't far behind. More noteworthy is that we'll likely soon see lenders moving from 73-month to 84-month loans. That's seven years worth of interest. More than two-thirds of US auto sales come from light trucks like the Ford F-150, Chevy Silverado and Ram 1500. The average transaction price of a new vehicle is well over $30,000. It's not difficult to spec out a heavily-optioned truck up to $60,000. Vehicles depreciate from the moment they roll off a dealer lot, and these six or seven-year loans could hurt consumers and lenders both in the long run. The U.S. Senate voted last week to kill rules that would prevent discriminatory auto lending. These Obama-era guidelines were meant to curtail lenders who offered higher loans based on race, religion, sex or national origin. Related Video: News Source: Bloomberg Chevrolet Fiat RAM Car Buying car loan car values

LG Chem ready to double workforce at plant that makes Volt batteries

With a history that involves paying people not to work, the fact that LG Chem is going to hire more people for its electric-vehicle battery plant in Holland, Michigan is good news on a couple fronts for the Korean company. The South Korea-based LG Chem is holding a job fair at the factory about 30 miles west of Grand Rapids. The company wants to double its workforce this year to "several hundred people." LG Chem, whose factory notably makes the cells for General Motors' Chevrolet Volt extended-range electric vehicle battery, is looking for everything from technical operators to maintenance workers to production supervisors. The company held a previous job fair last September that resulted in about 40 people being hired. The prior year, though, LG Chem gained a measure of infamy after the US Department of Energy (DOE) discovered that workers were, for a time, getting paid to do absolutely nothing because low demand for battery packs made it cheaper for the factory to remain idle. With LG Chem also making electric-vehicle battery components for Ford, Renault, Hyundai, and Volvo, though, those lazy days appear to be long gone. Take a look at LG Chem's press release below. Show full PR text LG Chem Michigan Inc. 2nd Job Fair Will Help To Double Its Holland Workforce HOLLAND, Mich., May 13, 2015 /PRNewswire/ -- LG Chem Michigan Inc. (LGCMI) is conducting a 2nd job fair on Thursday, May 14 as part of the company's efforts to double the size of its production workforce in 2015. LGCMI is an air-conditioned, clean room production environment with strong opportunity for career growth. Over 250 people attended the first job fair and the company is looking for more people to help it grow with increased production volume and new models. The company is adding production equipment and new processes and expects to employ several hundred people by the end of the year. Globally, LG Chem has numerous automakers as clients for EV batteries including GM, Ford, Renault, Hyundai/Kia, Volvo, Audi and Daimler etc. The company's push to build its workforce continues on Thursday, May 14 with an all-day job fair at the company's facilities, located at 1 LG Way in Holland. The event will take place from 9:00 a.m. until 6:00 p.m. and is open to everyone seeking employment opportunities with the company. Prospective candidates should plan to meet with members of LGCMI's staff to learn more about opportunities available at this market-leading, advanced-technology manufacturing company.

Meet the mother-daughter team that's worked on almost every Chevy Volt

It's Mother's Day, and we're soft enough we love our mothers enough to share a new video from General Motors with you. In it, we meet Monique Watson (left) and Evetta Osbourne, a mother-daughter team that works at the Detroit-Hamtramck Assembly where GM makes the Chevy Volt (along with all of GM's other plug-in hybrids: the Opel Ampera, Holden Volt and Cadillac ELR). The two work side-by-side and have installed the lithium-ion battery pack on almost all of those vehicles - nearly 80,000 of them - since GM started making the pre-production Volts in 2009. In a prepared statement, Watson said that she likes working next to her mom, day in and day out, and they the two are totally in sync when it comes to putting the 400-pound, 16.5-kWh packs into the vehicle undersides. They two can also share stories throughout the day, and Watson said, "The arrangement has absolutely improved our relationship." Osborne started working at Detroit-Hamtramck in 1999, Watson since 2006. If you're driving a Volt today, you probably have them to thank for doing a bit of the work putting your car together. See a short video of them in action below. It's Always Mother's Day for Detroit-Hamtramck Duo Mother, daughter install lithium-ion battery pack in nearly all GM electric vehicles 2014-05-08 DETROIT – For Detroit resident Evetta Osborne, every day is Mother's Day. That's because she literally works side by side with her daughter, Monique Watson, at General Motors' Detroit-Hamtramck assembly plant. They have installed the lithium-ion battery pack on nearly every Chevrolet Volt, Opel Ampera, Holden Volt, and Cadillac ELR since production began. In fact, apart from vacation days and an occasional sick day, the mother-daughter duo has installed almost every battery pack since the Volt was in pre-production in 2009. The ELR launched earlier this year. All told – including Ampera – that's more than 80,000 electric vehicles. "We're a good team and our relationship is secondary when it comes to performing our jobs – but it's great to work alongside my daughter, said Osborne, a mother of five. Because the battery packs weigh more than 400 pounds each, automatic guided vehicles – robotic carts that use sensors to follow a path through the plant – deliver them just as the vehicle body structures glide into position overhead. The carts then lift the T-shaped packs, and Osborne and Watson guide them into the chassis and secure each one with 24 fasteners.