Boston, MA 02/24/2014 (wallstreetpr) – The battle of supremacy continues in the motor industry after General Motors Company (NYSE:GM) opted to join Ford Motor Company (NYSE:F) in manufacturing aluminum pick-ups. It is thought to be a done a deal with General motors having entered into an agreement with world renown suppliers of Aluminum, Alcoa and Novelis to supply the next generation of Chevrolet and GMC trucks.
Ford Motor Company (NYSE:F) has already set the pace in the industry as it is set to launch its aluminum bodied F-150 later this year which is thought to have reduced in weight severely by as much as 700 pounds compared to the steel models in the market.
Aluminum build vehicles are becoming the next big thing in the automobile industry as they have been found to be highly efficient in fuel economy due to their light body weight.
The company is thought to have been In the process of making the transition back in 2008 but opted out of the move, due to financial crisis the company was facing during the economic turmoil. General Motors Company (NYSE:GM) plans to ensure its Pick-ups are less costly while also maintaining simplicity by using more advanced welding techniques as compared to Fords.
General motor recalls 778,562 Chevrolet Cobalt
General Motors Company (NYSE:GM) has announced it is recalling a total of 778,562 Chevrolet Cobalt and Pontiac G5 sedans that had been sold in North in America after the vehicles were detected to have massive flaws with the ignition switches. This is after six deaths were reported as a result of the faulty switches.
The fatal crashes are reported to have occurred off roads at high speeds according to GM spokesman Alan Adler. For all the accidents, it is being reported the airbags never deployed due to the faulty sensors that activate them. This is the first acid test for the new CEO who has been at the helm for just a month, Mary Barra.
General Motors Company (NYSE:GM) closed the week at a high, moving up by 0.49% to close Friday session at $36.69.