ABC News recently did a segment on the Chevy Volt, calling it "the automotive equivalent of the moon shot." Most of it you've heard before -- GM's in trouble, if the Volt doesn't work then it means more doom, and "industry experts" don't believe the Volt will come out in time. But there was a glimpse of the production model of the car, including the interior.

One intriguing line was, "it will look a lot more like a typical 4-door than the show car concept." The front quarter view you get of the clay model is quite a bit altered from the concept, but still slick. The presenter also calls the interior reminiscent of Apple, but unless he means the fact that there's not a button in sight, it doesn't look much like an Apple. It's got a nice steering wheel, though.

Either way, we really hope GM pulls this one off. But frankly, no one knows if that will happen, and that includes, apparently, GM. So we have to wait until November 2010 to see if Lutz ("Yes!") or the Volt engineer ("We'll see...") is correct. Until then, get your bets in now, folks.

There has been a lot said about GM in the wake of tough market conditions and the Detroit Automaker's $15.5B Q2 loss. As you can imagine, a lot of the talk isn't upbeat. GM Vice Chairman Bob Lutz seems to think much of the discussion surrounding the General is nothing more than speculation and uninformed bias, but then again Maximum Bob's got a bit of a pro-GM bias of his own. So you can imagine that Blogger Bob was interested to see an hour long special called Saving GM, which recently aired on CNBC. Mr. Lutz' assessment of the piece? He thought it was fair and unbiased, and it touched on the good and bad of GM over the past few years in an honest way. Lutz said he liked that the documentary concluded that GM needs the public to think "smash hit vehicle from GM" and think of "cars in showrooms, not museums."

We haven't seen the hour long special Saving GM, so we reserve judgment as to whether or not it was fair, but we've heard from a few people it's worth a watch. Saving GM will re-air on CNBC on August 10 at 10 pm ET, so set your TiVo. You can also read more about here at the CNBC website if you need more convincing.

The rickshaw is a time-honored method of transportation in China. While the vehicles were initially pulled around by men on foot, the pedal-powered versions have grown much more popular in recent years and are a symbol of Chinese culture. When Beijing MINI needed an interesting way to communicate that the Clubman model was being introduced in Chinese, especially in light of all the media attention on the Olympics, it back-halved a slew of new Clubmans, mounted a pedicab front-end and sent them out for business.

According to China Car Times, MINI's publicity stunt is working exactly as planned. Though the vast majority of media coverage is centered on those games from Greece, the MINI Rickshaws have managed to make some headlines of their own. We think the cabs turned out pretty cool, even incorporating the sunroof into the final design.

According to the Center of Automotive Research (CAR), General Motors is the trauma patient with doctors gathered around the gurney giving their all to save it -- and just outside the ER doors, nurses are holding back concerned parties and shouting "It's better that you don't see!" CAR Chairman Dave Cole says it comes down to revenue, and with GM's $15.5 billion Q2 loss, revenue is down by $10 billion vs. Q2 of 2007.

Cole says "Revenue is a measure of the business going forward." We think that's a bit overstated, and that revenue is more accurately a measure of business just transacted. True, multi-billion dollar losses and revenue decreases don't make the best stories, but did anyone really expect it to be cotton candy canes as the world's -- possibly -- largest automaker transfers nearly its entire product lineup from trucks to cars and crossovers?

Admittedly, GM has nothing but an indefinitely long fight-to-the-death cage match ahead of it. The product turnaround probably won't be completed in Q3. And, as GM's CFO said, it's "going to have to grow the business" in addition to making cost cutting moves like shuttering four truck plants by 2010. But we figure there's probably quite a bit more life left in little boy blue than some give it credit for.

In a move that will help both ailing automakers, General Motors and Ford are holding discussions about sharing engine and powertrain technologies. Although neither company will officially acknowledge the liaisons, the meetings have been going on for more than a month, according to sources. Engine and powertrain development costs are significant -- an entirely new engine could cost $1 billion, while a transmission could cost upwards of $800 million -- so splitting those costs offers substantial savings to both companies. In addition to the financial incentives, technology sharing would open doors that otherwise would have remained shut (e.g., GM sharing Volt technology with Ford). This wouldn't be the first time the two competitors have climbed in the sack together... years ago, they successfully partnered on a six-speed automatic transmission that is widely used by both companies today.

This rumor definitely makes for a fun what-if game. If these discussions bear fruit, what engines would you like shared across the aisle? A Vortech V8-powered F-150 or an LS9 Mustang GT500? How about a Malibu powered by a twin-turbo DI Ecoboost V6?

General Motors reported its second quarter earnings this morning, and the news was predictably grim. The General lost $15.5B in the quarter, as the Detroit Automaker continues to struggle with brutal market conditions and the costs associated with strikes and downsizing. Among the losses is a $4B hit from automotive operations, as stymied truck sales resulted in an 18% drop in revenue to $38B. GM's credit arm lost another $2.5B from high loan default rates and huge losses from truck and SUV lease residuals.

Another $9.1B came from one-time charges associated with GM's massive restructuring and the American Axle strike. Among the charges was a $3.3B write-down to pay for buyouts to the 19,000 UAW members that left by July. Overall, GM lost a staggering $27.33 per share in the quarter, which is even more amazing considering the General's stock is trading at about $10 per share. Among the actions GM took this week to help stem its bleeding balance sheet was ending all leasing in Canada, raising lease costs here in the States, and the announcement of 5,000 white-collar job cuts.

We're no industry analysts and we don't have any insights into the General's balance sheet, but a $15.5B Q2 loss and four straight quarters of red ink doesn't sound good at all. New fuel efficient products like the Chevy Cruze and Volt can't come soon enough, though it will be an even bigger challenge trying to make money off these small and ultra-fuel efficient cars.

General Motors is looking to reduce its salaried (read: non-unionized) workforce by 5,000 employees by the end of the year, leaving the beleaguered automaker with 27,000 white-collar jobs in total. This 15% head-count reduction is part of an ongoing effort to trim costs as the automaker continues to hemorrhage cash.

Also on the docket are early retirement plans offered to a select group of workers close to retirement age, while employees who choose to stay won't be getting raises until 2010 at the earliest. If GM reaches its reduction goals, the automaker will have shed its salaried workforce by 17,000 people in the last decade alone.

"We're ready. When (customers) want it (the option of smaller engines) - we'll do it." That's a (somewhat mangled) quote from Thomas G. Stephens, GM's executive veep for global powertrain and quality, speaking at the inauguration of the General's Powertrain Engineering Development Center last Friday. What Stephens is referring to is the possibility of equipping Cadillacs with smaller, turbocharged engines – specifically fitting the 260-hp (or more) 2.0-liter, turbocharged four in the CTS sedan.

Sounds like a Hell of an idea, but how – exactly – is GM going to determine when consumers are ready for it? How about now?

Prices at the pump may have peaked (for now), but consumers are still craving fuel-efficient rides that don't skimp on power and poise. GM is already making V8 levels of output with its direct-injected 3.6-liter V6 (see: Camaro) and that, coupled with Stephens' quote, means that GM isn't totally oblivious to the idea of offering smaller engines that balance fuel economy and thrust in packages that might benefit from them. But again, how will the market tell GM when it's open to the idea of fewer cylinders making just as much power? Ford is already ramping up to release its line of direct injected, turbocharged EcoBoost engines, BMW has proven that turbocharged sixes are the bee's knees and practically every other automaker is looking into forced induction as a means to a lighter, more powerful, more fuel efficient end. So why is GM stalling? If the General has the capabilities, it needs to step up and let the market embrace it. It will. If GM doesn't, it risks its own extinction.

Pending white collar cuts and dismal sales data have resulted in morale problems at General Motors. That's going to put a damper on the Detroit automaker's centennial celebration, so the General plans on showing employees a near-production-ready Chevy Volt to give workers hope. The (hopefully) game-changing extended range electric vehicle will be shown internally around the September 16th centennial, and employees who see the Volt will, of course, have to check their cameras and phones at the door. That doesn't mean the public won't soon get an eyeful of the car, as GM sources report that it'll be shown in production trim at this year's LA or Detroit Auto Show. Don't forget also that it's also been rumored that Volt could show up in Paris in October.

GM has 200 engineers and 50 designers working long hours to make the ER-EV happen by its late 2010 production target, and there are another 400 people working on components. GM is also constructing a new 530,000 sq-ft facility to build the Volt's 1.4L engine and working on getting incentives for the planned construction.

Following the lead set by Chrysler Financial in the United States, GM Canada has announced that it will no longer offer leases through its GMAC Financial arm. While Chrysler LLC has not officially cut out lease deals in Canada, dealers up north report that the rates being offered to them are far too high to be feasible. GMAC spokeswoman Gina Proia told Bloomberg, "There's just a lack of funding in that country for lease assets." Both Chrysler LLC and GMAC are owned in part by Cerberus Capital Management LP.

This leasing downturn is expected to hit hard in Canada, where leases make up a larger percentage of new car sales than in the States. To counter the issue, long-term financing deals with zero-percent interest are being established both by the automakers and by certain third-party lending institutions in an effort to continue offering the low payment solutions that the buying public has grown accustomed to.