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Chevy exec confirms SS production model reveal at Daytona on Feb 16

The 2014 Chevrolet SS will make its racing debut for the 2013 Daytona 500, but the production version of the car will get its official unveiling on February 16 in Daytona, a week before The Great American Race. According to a report by Automotive News, the reveal has been confirmed by Jim Campbell, Chevy's US vice president of performance and motorsports. With the departure of the Dodge Charger, the new Chevrolet racecar will be the only competitor to feature a V8, rear-wheel-drive layout in both street and NASCAR form.
NASCAR fans will be able to see the new fullsize performance-oriented sedan on display in the festivities leading up to the Daytona 500, but the car won't go on sale until later in the year. The Australian-built Chevy SS will be a low-volume performance model, and it will be priced above the 2014 Impala, which starts at $27,535.

GM adds 1,200 jobs at Detroit-Hamtramck plant

General Motors is making a big move at its Hamtramck, MI, factory, announcing it will add a second shift and hire over 1,200 workers within the next several months. It's expected that by early 2016, the factory will employ over 2,800 workers to build the Chevrolet Volt, Impala, Malibu, Cadillac ELR, and by early next year, the new CT6. According to GM Hamtramck spokesperson Courtney Zemke, 40 of the 1,200 positions are for salaried employees, while the remainder will be hourly positions. As for where these employees will go, positions are being made available across the factory, so GM isn't focusing on any particular area for its new hires. It's a similar story behind the hiring surge itself. GM said in its press release that the "second shift is necessary to meet forecasted market demand," a position Zemke reiterated. It's a matter of demand across the plant's portfolio, rather than any one particular product seriously outstripping supply. Naturally, the United Auto Workers is happy with the move. "The workforce at Detroit-Hamtramck is second to none," UAW Local 22 Shop Chairman Don LaForest said in the attached release. "We appreciate the opportunity to expand our UAW-GM family." Hiring is going on now, with the second shift slated to get underway in early 2016. GM's Detroit-Hamtramck Assembly to Add Second Shift and More Than 1,200 Jobs Plant will nearly double its workforce by early 2016 2015-10-22 DETROIT – General Motors is nearly doubling its workforce at Detroit-Hamtramck Assembly by adding a second shift and more than 1,200 hourly and salaried jobs. The addition of a second shift will increase the plant's workforce to approximately 2,800 people when hiring is completed. The second shift is necessary to meet forecasted market demand for the five cars produced at Detroit-Hamtramck. "This is the result of the award-winning vehicles Detroit-Hamtramck produces and the confidence GM has in our team to build world-class quality for our customers," said Plant Manager Gary West. Second shift hiring is underway, and the shift is scheduled to begin operations in early 2016. "The workforce at Detroit-Hamtramck is second to none," said UAW Local 22 Shop Chairman Don LaForest. "We appreciate the opportunity to expand our UAW-GM family." The 4.1 million-square-foot Detroit-Hamtramck Assembly opened in 1985. GM has invested $1 billion in the plant over the last six years, making it one of the company's most-agile manufacturing facilities in North America.

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