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Keyword: automotive

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  • Your grandpa's car is taken good care of!

    06/25/2010 5:01:20 AM PDT · by WesternCulture · 26 replies · 1+ views
    http://www.youtube.com/watch?v=V6NjsMqka9o ^ | 06/25/2010 | WesternCulture
    Each year, around 10 000 cars of America's past flood the streets of Swedish Västerås. I'm not an owner of such a vehicle myself (although I plan to be - the future of my economy is looking good!), but I happen to love these cars and can't help but feeling somewhat proud, as a Swede, over my country hosting such an event (regardless of what Buford T Justice has to say about it). Greetings from Volvo Land to America/one nation of car lovers to another! (Links to clips below, enjoy!)
  • GM kicks ‘Chevy' to the curb

    06/10/2010 7:28:39 AM PDT · by jakerobins · 169 replies · 357+ views
    Don't call it Chevy. General Motors leaders are asking Chevrolet employees to refrain from the shorthand etched in America's consciousness for decades. Or, as the New York Times put it, "If General Motors has its way, you won't be driving your Chevy to the levee ever again." The Times quoted this company memo sent Tuesday: "We'd ask that whether you're talking to a dealer, reviewing dealer advertising, or speaking with friends and family, that you communicate our brand as Chevrolet moving forward. "When you look at the most recognized brands throughout the world, such as Coke or Apple, for instance,...
  • Woman drowns in car after heavy rains (Refused to leave her Chev. Cavalier)

    05/17/2010 9:36:36 AM PDT · by Responsibility2nd · 34 replies · 1,474+ views
    Houston Chronicle ^ | 05/16/2010 | CINDY GEORGE
    <p>Authorities have identified a 47-year-old woman who drowned as her car sunk into a retention pond Friday night after she unsuccessfully tried to save the vehicle from rising water.</p> <p>Cassandra Bryant, of the 1400 block of Blue Bell in north Harris County, was southbound on the North Freeway service road around 10 p.m. when rising water prompted her to maneuver the car inadvertently into the pond.</p>
  • Nissan Leaf EV to Have Ultra-Cheap Battery Pack

    05/08/2010 7:37:51 AM PDT · by mylife · 27 replies · 1,262+ views
    fast company ^ | May 5, 2010 | Ariel Schwartz
    Nissan Leaf EV to Have Ultra-Cheap Battery Pack BY Ariel Schwartz Wed May 5, 2010 Over 8,200 people have made online reservations in the past month for the upcoming Nissan Leaf EV, and for good reason. The $33,000 vehicle, set to be released later this year, is the first affordable all-electric vehicle from a major auto manufacturer. It's an early adopter's dream. Now Nissan has revealed the secret behind the Leaf's reasonable price: an ultra-cheap battery pack. While most lithium-ion batteries cost $1000 to $1,200 per kWh, the Leaf's 24 kWh battery pack costs just $9,000 to produce, or $375...
  • Aston Martin to Introduce the V12 Vantage in the U.S.

    05/08/2010 7:04:38 AM PDT · by Willie Green · 47 replies · 1,090+ views
    AutoEvolution ^ | May 08, 2010 | Daniel Mihalascu
    Although initially Aston Martin didn’t intend to bring the V12 Vantage to the U.S. market, the British sportscar maker is planning to introduce this model in the fourth quarter of 2010, according to Inside Line. Based on the 2007 V12 Vantage RS Concept, the roadgoing V12 Vantage was launched in Europe in 2009, being a heavily modified version of the standard V8 Vantage. Aston plans to build only 1,000 units of this car, which is powered by a 510 horsepower V12 engine. Since the V12 Vantage was never destined for the U.S., Aston Martin had to make extensive modifications to...
  • Chinese Automaker to Roll Into L.A.

    04/30/2010 2:43:45 PM PDT · by La Enchiladita · 22 replies · 931+ views
    Los Angeles Business Journal ^ | April 30, 2010 | Deborah Crowe
    State and local officials announced Friday that Chinese hybrid electric automaker BYD Co. will open its U.S. headquarters in downtown Los Angeles. China’s fourth-largest automaker expects to create at least 150 jobs here by 2011 as it rolls out its fleet of vehicles to California markets first before expanding throughout the country. “By bringing global alternative energy companies to Los Angeles, we are securing our future and building the foundation for an emerging industry that will attract good paying, green collar jobs for generations of Angelenos,” said Mayor Antonio R. Villaraigosa during a City Hall press conference that included Gov....
  • Ford Posts 1st Qtr 2010 Net Income of $2.1 Billion

    04/27/2010 4:15:22 AM PDT · by taildragger · 92 replies · 2,265+ views
    Ford Motor Company ^ | 04/27/2010 | Ford
    * Ford, Lincoln and Mercury March sales totaled 178,546, up 43 percent versus year ago * Ford brand sales up 46 percent versus year ago, Lincoln up 19 percent and Mercury up 26 percent * Cars up 53 percent versus year ago, utilities up 46 percent and trucks up 30 percent; March retail sales up 38 percent; fleet sales up 53 percent * Ford, Lincoln and Mercury first quarter sales totaled 428,596, up 37 percent versus year ago * Ford gains retail market share for the 17th time in the last 18 months, as more buyers turn to Ford’s fresh...
  • Obama says auto bailouts have paid off

    04/24/2010 3:36:54 AM PDT · by Sub-Driver · 59 replies · 1,643+ views
    Obama says auto bailouts have paid off Photo 6:09am EDT By Steve Holland ASHEVILLE, North Carolina (Reuters) - President Barack Obama said on Saturday taxpayer-funded bailouts of the auto industry that he approved had paid off, in what amounted to a rejection of conservative arguments against such government help. In his weekly radio and Web address, Obama kept up the pressure for an overhaul of U.S. financial regulations, saying the promising news from the auto industry had not reduced the need for Wall Street changes. Government bailouts of Wall Street, begun by then-President George W. Bush in 2008 and continued...
  • Worst-Made Cars on the Road

    04/12/2010 8:05:57 AM PDT · by throwback · 172 replies · 4,069+ views
    Yahoo, Forbes ^ | Friday, April 9, 2010 | Hannah Elliott
    If you want to drive something dependable and long-lasting, steer clear of these vehicles. With a 22% improvement in sales last month, and despite the six-month, $4.3 billion loss it announced Wednesday, General Motors is likely to have its strongest spring and summer in years. Plus, the automaker had critically acclaimed new products at the recent New York Auto Show and the much-anticipated Chevrolet Volt is due out this fall. More from Forbes.com: • In Depth: Worst-Made Cars On The Road • Navigating Your Way Through Traffic • Cars With the Best Gas Mileage Year-over-year sales of GM's Cadillac division...
  • Toyota's safety, quality record belies current piling on (Why Toyota is getting a media bum rap)

    04/02/2010 7:11:03 AM PDT · by SeekAndFind · 19 replies · 618+ views
    Sacramento Bee ^ | 04/02/2010
    It is possible that new, damning details could come to light about Toyota's response to faulty accelerator claims. But absent new revelations - and if we are to judge based solely on what we know now - Toyota is getting a bum rap. The Japanese car maker has been stung by a series of reports of customers experiencing out-of-control speeding. The result has been front-page news stories, a product recall, multiple congressional hearings, a big hit to Toyota's stock price and the threat of multiple lawsuits. To top it off, some are even demanding Toyota offer to buy back vehicles...
  • Luxury Drivers, Beware (Front Wheel Drive vs. Rear Wheel Drive)

    03/26/2010 7:34:53 AM PDT · by Responsibility2nd · 37 replies · 1,433+ views
    Wall Street Journal ^ | 03/24/2010 | Joseph B. White
    When BMW AG Chairman Norbert Reithofer declared last week that his company would start making front-wheel-drive BMWs, there were screams from Stuttgart to Sacramento. BMW, after all, had built the Ultimate Driving Machine franchise on rear-wheel-drive cars. Now Mr. Reithofer appears to be chipping away at what made luxury cars so luxurious. Auto enthusiasts—including many automotive designers and engineering executives, as well as wealthy car buyers—generally prefer cars to have the driving wheels in the back. It makes a difference in the way a car handles and steers. That difference is instantly recognizable but hard to define. A rear-drive car...
  • Theodore H. Frank: I am not afraid of my Toyota Prius

    03/12/2010 10:31:38 AM PST · by LibWhacker · 18 replies · 697+ views
    Washington Examiner ^ | 3/11/10 | Theodore H. Frank
    I’ve been driving Toyota Priuses since 2001. As a junior defense lawyer in the mid-90s, I litigated a number of bogus sudden acceleration cases that were brought against General Motors. So the recent kerfuffle over alleged mysterious electronic problems with the Prius and other Toyotas has certainly caught my attention beyond just throwing my floor mat in the trunk. I knew the public hysteria had reached unprecedented proportions when my father, a Ph.D. geologist skeptical of everything from George W. Bush to global warming (and that’s just the G’s), credulously emailed me repeatedly to demand I read a press release...
  • Toyota Simulator

    03/06/2010 9:03:26 PM PST · by Reaganez · 23 replies · 520+ views
    Check out what it is like driving a modern Toyota at the link.
  • Ferrari unveil hybrid car

    03/03/2010 12:04:58 AM PST · by bruinbirdman · 11 replies · 671+ views
    The Telegraph ^ | 3/2/2010 | Andrew English in Geneva
    Electric cars and green technology dominate at this year's Geneva Motor Show, which opened its doors on Tuesday, but no one expected a hybrid Ferrari. This Kermit-green Ferrari 599 hybrid is one of the stars of the show and a sure sign that even supercar makers are beginning to address their environmental impact. Called HY-KERS, the hybrid two-seater uses Ferrari's Formula One Kinetic Energy Recovery System (KERS) to recover the braking and decelerating energy in a state-of-the-art lithium-ion battery. That electrical energy is converted into about 650 volts, which gives an additional 100 horsepower that is used to supplement the...
  • Suggestions for a used vehicle?

    03/01/2010 8:16:17 AM PST · by bgill · 97 replies · 1,468+ views
    vanity
    I'm looking for some suggestions for an inexpensive used vehicle for a teenager. The plan was to give him the old pickup but it is on it's last legs. The vehicle must have a high safety rating. It will mainly be for city/highway driving but in an emergency needs to be able to book it across pastures. Again, cheap, cheap, cheap. Any suggestions?
  • FORD POSTS FULL YEAR PROFIT FOR 2009

    01/28/2010 4:36:05 AM PST · by taildragger · 45 replies · 2,354+ views
    Ford Motor Company ^ | 01/28/2009 | Ford Motor Company
    FOURTH QUARTER 2009 NET INCOME OF $868 MILLION; PLANS TO BE PROFITABLE IN 2010+ * Full year net income of $2.7 billion, or 86 cents per share, a $17.5 billion improvement from a year ago. Pre-tax operating profits of $454 million, a $7.3 billion improvement from a year ago++ * Fourth quarter net income of $868 million, or 25 cents per share, a $6.8 billion improvement from a year ago. Pre-tax operating profits of $1.8 billion, a $5.5 billion improvement from a year ago++ * Ford North America fourth quarter pre-tax operating profits of $707 million, a $2.6 billion improvement...
  • Toyota knew of sticky-throttle problem late last year

    01/25/2010 11:58:49 AM PST · by Reaganez · 53 replies · 1,303+ views
    ABCNews.com ^ | January 25, 2010 | By James R. Healey
    Toyota says it knew there were problems with accelerator-pedal assemblies from supplier CTS late last year, but not enough to warrant a recall. The automaker says it hurriedly announced last Thursday a planned recall of 2.3 million Toyotas, back to 2005 models, because the defect trend had picked up. "The quickness that this all came together is one reason why I don't have numbers" of complaints, the automaker's U.S. safety spokesman, John Hanson, says. "And why we don't have a fix." CTS also supplies throttle assemblies to Honda, Nissan and Mitsubishi. Those companies say their designs are different and pose...
  • Caption Pelosi at the Press Days of the 2010 North American International Auto Show

    01/12/2010 11:48:35 AM PST · by Lucky9teen · 24 replies · 1,194+ views
    PICTURE 1: U.S. House Speaker Nancy Pelosi and General Motors Chairman Ed Whitacre speak with each other; PICTURE 2: House Speaker Nancy Pelosi, left, talks with Ford Motor Co. CEO Alan Mulally, center, and Ford Motor Co. Executive Chairman William Ford, Jr., right, during press days of the 2010 North American International Auto Show at Cobo Center in Detroit, Michigan January 11, 2010. Chrysler LLC CEO Sergio Marchionne points to Chrysler displays as he talks with House Speaker Nancy Pelosi (L) during Press Days of the 2010 North American International Auto Show in Detroit, Michigan January 11, 2010 in Detroit,...
  • Ford Vs. Government Motors

    01/05/2010 5:17:48 PM PST · by Reaganez · 35 replies · 1,401+ views
    Forbes.com ^ | 01.05.10, 06:00 AM EST | Alexandra Zendrian
    GM has come out swinging from its government-induced bankruptcy, but Ford's strength in 2009 makes it a contender in 2010. Things are looking up for the American automakers this year. General Motors is restructuring itself and is winding down its Saab brand. But though there seems to be more confidence in GM now than there was last year, Ford is giving GM a run for its money. These two companies could both be victorious, or one could leave the other badly bruised in the battle for top car company in 2010. General Motors probably wants to forget 2009--the year that...
  • Chevrolet, Buick, GMC and Cadillac Post Sales Gains

    01/05/2010 12:49:14 PM PST · by Reaganez · 34 replies · 1,361+ views
    Media.GM.com ^ | January 5,2010 | General Motors Company
    Retail Sales of Chevrolet, Buick, GMC and Cadillac Up 13 Percent GM Retail Market Share Increased Two Share Points in Q4 vs. Q3 U.S. Dealer Inventory Reaches 385,000 – Lowest Year-End Level on Record DETROIT – GM dealers in the U.S. reported 160,996 retail deliveries in December – a 7 percent increase compared to last year, and a 50 percent increase over last month. Retail sales of Chevrolet, Buick, GMC and Cadillac brands were 146,419 – up 13 percent for the month. In total, GM dealers in the U.S. delivered 208,511 vehicles in December. This represents a total sales decline...
  • FORD CAPS 2009 WITH 33 PERCENT SALES INCREASE

    01/05/2010 12:40:04 PM PST · by Reaganez · 24 replies · 696+ views
    Media.Ford.com ^ | January 4,2010 | Ford Motor Company
    FORD CAPS 2009 WITH 33 PERCENT SALES INCREASE, FIRST FULL-YEAR MARKET SHARE GAIN SINCE 1995 •Ford, Lincoln and Mercury December sales up 33 percent versus a year ago; highest sales month since May 2008 •Ford posts first full-year market share gain since 1995; December marks the 14th time in 15 months that Ford increased retail market share •Record December sales delivered for Fusion (up 83 percent) and Escape (up 75 percent) ; Fusion sets new full-year sales record (180,671); Escape full-year sales (173,044) second best ever •Ford’s F-Series tops best-seller lists again with December sales of 48,209 (up 16 percent)...
  • GM Sheds Billions In Costs Today

    01/01/2010 11:50:56 AM PST · by Reaganez · 40 replies · 1,669+ views
    gminsidenews.com ^ | January 1, 2010 | By: Nick Saporito
    Starting today, January 1, 2010, General Motors will be freed of billions in health care liabilities. Last May, as part of GM’s efforts to restructure out of court, they and the United Auto Workers union agreed to an amended version of the 2007 contract. Included in those revisions were for the union to take over nearly all of members’ health care costs. Prior to today GM was liable for nearly $2 billion per quarter in health care costs related to both active and retired UAW members. Starting today the UAW’s Voluntary Employee Beneficiary Association (VEBA) Trust will take over responsibility...
  • 2011 Mustang GT to have even more horses under the hood

    12/31/2009 5:45:14 AM PST · by Red Badger · 109 replies · 3,222+ views
    Modesto Bee ^ | 12-31-2009 | By BRENT SNAVELY
    The Ford Mustang will get not one, but two new engines next year. Ford Motor Co. announced Monday that it plans to introduce an all-new 5.0-liter, V8 engine for its 2011 Mustang GT in the spring. The V8 engine will deliver 412 horsepower and 390 pound-feet of torque - 87 more horsepower than the outgoing engine. "This is the right engine for the car," said Bob Fascetti, Ford's director of large gas and diesel engines. Monday's confirmation follows Ford's announcement in November that it will also provide an all-new 3.7-liter V6 engine with 305 horsepower in the Mustang when it...
  • Toyota tops all others for Recalls in 2009

    12/30/2009 4:18:22 PM PST · by Reaganez · 23 replies · 811+ views
    LeftLaneNews.com ^ | 12/30/2009 | By Drew Johnson
    Toyota has built a solid reputation for quality and reliability over the past several decades, but that streak hit the skids in 2009. Marking a first for the Japanese automaker, Toyota lead the industry in safety recalls during 2009. According to the Detroit Free Press, Toyota’s 9 safety recalls involving 4,872,583 was tops in the industry this year. Toyota narrowly beat out Ford’s 4,521,993 recalled vehicles to take the title of most recalled automaker for the first time in company history. Of those 4.87 million recalls, 4.3 million were a direct result of an unintended acceleration problem with some Toyota...
  • Advice Needed on a New Car (Vanity)

    12/26/2009 11:04:08 PM PST · by MarkL · 57 replies · 1,427+ views
    Hi All,I'm in need of some advice on a new car.
  • Aston Martin Unveils New Luxury Minicar (How Will Bond ever manage it?)

    12/18/2009 2:13:23 PM PST · by greatdefender · 39 replies · 1,716+ views
    How can James Bond recover the control disk for the dual GoldenEye satellite weapons driving something like this? Brace yourself. Aston Martin just released more detailed photos of its Cygnet luxury minicar, and it isn’t pretty. In fact, it looks a lot like Toyota’s Euro-based iQ on which it’s based. Jalopnik, which published official photos this morning, writes: “[T]he looks are...umm...well...as these first official images show, the Cygnet is still closely based on the Toyota iQ city car, retaining the same basic body shape and even the same front lights. The front has been given a heavy Aston-style rework, however,...
  • Don’t Believe the Hype About the Plug-In Car

    12/17/2009 5:09:38 AM PST · by FlyVet · 46 replies · 1,324+ views
    Minyanville ^ | 12/15/09 | Scott Reeves
    Hybrid gasoline-electric and all-electric cars will continue to cost more than vehicles with a conventional internal combustion engine for the foreseeable future, putting the new technology beyond the reach of many car buyers. Sales of hybrid and all-electric cars therefore may be limited to affluent buyers who can afford to make an environmental statement and the vast majority of vehicles will continue to be powered by gasoline or diesel engines. While promising, the new lithium-ion battery technology won’t significantly reduce pollution or dependence on foreign oil by 2030.
  • Fifty Ugliest Cars of the Past 50 Years

    12/15/2009 6:24:04 PM PST · by DogByte6RER · 148 replies · 4,022+ views
    Business Week ^ | Damian Joseph
    Fifty Ugliest Cars of the Past 50 Years A Half-Century of Automotive Eyesores By Damian Joseph Considering how many new cars are rolled out every year, it's no surprise that a few might be just plain homely. There's a chance that certain styles might become fashionable with a dash of retro hip. (Well, maybe not from the 1970s.) But for the most part, the following 50 cars will never be anything but design duds.
  • Are Texas' auto safety inspections worth the hassle?

    12/13/2009 9:44:44 PM PST · by Dubya · 95 replies · 2,515+ views
    After five years of inspecting vehicles, Dallas mechanic Robert Garcia has seen cars with everything from whisper-thin tire treads to brakes ready to fall off. Garcia – like many insurers, legislators and safety advocates – can't imagine how bad the disrepair would be without Texas' yearly required safety inspections. "It would cause a big dilemma on the road," said Garcia, who works at Adkison Tire and Service on Irving Boulevard. But some states have dropped the basic safety review after driver complaints that they were annoying and unnecessary. And some automobile experts in Texas and across the country say more...
  • Buyers Seem to Be Ignoring GM Bankruptcy

    12/11/2009 8:57:47 PM PST · by Reaganez · 50 replies · 1,756+ views
    WardsAuto.com ^ | Dec 11, 2009 8:00 AM | By Jerry Flint
    Will consumers buy from a bankrupt auto maker? There always are bargain hunters, but I was certain many would stay away. With Pontiac and Saturn out of the picture, I figured General Motors would be down to 16% market share, losing perhaps another 3% as worried potential buyers talked themselves out of visiting a GM showroom. That would have left GM with as little as 13% share. At least, that’s what I figured, and I have a lot of experience covering failing auto companies. So far, I’m wrong. GM’s market share has been climbing since it left bankruptcy, hitting 20.2%...
  • Buyers Seem to Be Ignoring GM Bankruptcy

    12/11/2009 1:17:41 PM PST · by Reaganez · 77 replies · 1,503+ views
    WardsAuto.com ^ | Dec 11, 2009 8:00 AM | Jerry Flint
    Will consumers buy from a bankrupt auto maker? There always are bargain hunters, but I was certain many would stay away. With Pontiac and Saturn out of the picture, I figured General Motors would be down to 16% market share, losing perhaps another 3% as worried potential buyers talked themselves out of visiting a GM showroom. That would have left GM with as little as 13% share. At least, that’s what I figured, and I have a lot of experience covering failing auto companies. So far, I’m wrong. GM’s market share has been climbing since it left bankruptcy, hitting 20.2%...
  • The China Lifeboat

    12/11/2009 1:15:39 PM PST · by Mr. Jeeves · 1 replies · 243+ views
    AsiaLynx.com ^ | 12/11/2009 | Randal Rayborn
    A number of recent headline stories out of China about joint ventures and acquisitions involving American companies didn't seem to get much attention in the US media, yet these stories indicate that the current economic recovery will remain jobless for some time. Is China a lifeboat for US firms, or the tugboat pulling the entire wounded US economy back to shore? The biggest news came out of the automotive industry, where Beijing Automotive announced its intention to acquire all or part of Saab from General Motors which also announced a joint venture with Shanghai Automotive to sell small cars...
  • Does Our GM (Government Motors) Await Same Sorry Fate As Britain's?

    11/24/2009 5:43:18 PM PST · by Kaslin · 43 replies · 1,415+ views
    Investors.com ^ | November 24, 2009 | CLAIRE BERLINSKI
    America should learn from Britain's disastrous takeover of its biggest auto company. Few of the policymakers currently nationalizing the American auto industry seem to remember the British experience, and fewer still seem to have learned anything from it. British Leyland, Britain's largest automaker, faced bankruptcy in 1975. Fearing that its collapse would leave a million workers unemployed, the Labour government nationalized it. The company remained a ward of the state for 13 years. During that time, the British taxpayers invested 11 billion pounds — the inflation-adjusted equivalent of $22 billion today — in a company whose only sign of life...
  • Man Drives Million-Dollar Bugatti Into Pond

    11/15/2009 8:27:10 PM PST · by zeestephen · 49 replies · 2,489+ views
    KOMOnews.com ^ | 13 November 2009
    LA MARQUE, Texas - Police say a low-flying pelican distracted a driver in Texas, causing him to veer off a road and drive his million-dollar sports car into a salt marsh - La Marque police Lt. Greg Gilchrist does not know if the car can be salvaged but conceded that "salt water isn't good for anything." - Click for photo
  • Fifty Ugliest Cars of the Past 50 Years (according to BusinessWeek)

    11/03/2009 9:01:16 AM PST · by DemforBush · 126 replies · 7,030+ views
    BusinessWeek ^ | Damien Joseph
    Considering how many new cars are rolled out every year, it's no surprise that a few might be just plain homely. There's a chance that certain styles might become fashionable with a dash of retro hip. (Well, maybe not from the 1970s.) But for the most part, the following 50 cars will never be anything but design duds...
  • Cash For Clunkers Was an EXPENSIVE FAILURE

    10/29/2009 9:48:33 AM PDT · by Shellybenoit · 13 replies · 648+ views
    Edmunds.com/The Lid ^ | 10/29/09 | The Lid
    The Cash for Clunkers program was widely touted as a major success by the administration but like most things coming out of Washington that was was a fabrication. The Automotive research website Edmunds.com did a simple business analysis of the cash for clunkers program and discovered that American Tax Payers payed an average of $24,000 to sell each additional car in the clunkers program. A total of 690,000 new vehicles were sold under the program, all but 125,000 would have been sold anyway. Divide the the total cost of $3 billion by those 125 thousand cars and you arrive at...
  • European bank approves Saab loan request

    10/21/2009 3:44:27 PM PDT · by WesternCulture · 10 replies · 534+ views
    www.thelocal.se ^ | 10/21/2009 | TT/AFP/The Local
    Saab Automobile has received permission to borrow 4 billion kronor from the European Investment Bank, the bank’s board revealed on Wednesday. Prior to Wednesday’s meeting, most indications were that the EIB board, which includes representatives from all 27 European Union members states, would approve Saab’s request. The EIB leadership group had recommended to the board that the bank agree to lend the Swedish car company up to €400 million, or roughly 4.1 billion kronor ($590 million), having concluded that Saab’s application was sufficiently strong. The loan is a critical lifeline for Saab, and was a key element for the planned...
  • 2010 Volkswagen Golf TDI: The Return of the Diesel Golf (It's B-A-A-A-CK!)

    10/21/2009 5:18:12 AM PDT · by Red Badger · 56 replies · 2,594+ views
    www.autoguide.com ^ | 10/2/2009 | Staff
    PDATED (October 2, 2009): Volkswagen has now officially released details on the 2010 Golf TDI. The new model is rated at 30/41 mpg (city/hwy) for the manual transmission and 32/42 mpg with VW’s advanced DSG automatic transmission. The car is priced from $21,990. Noticeably absent from the North American market since 2006, the Volkswagen Golf TDI will return for 2010. The new model was showcased today at the New York Auto Show, along with the high performance GTI (see our review here). There weren’t any standard Golfs on the floor, but we do have info on that model too....
  • Auto employment in St. Louis shrinks to just 700, down from 12,000

    09/30/2009 5:27:19 PM PDT · by Memphis Moe · 18 replies · 1,106+ views
    St. Louis Post-Dispatch ^ | 09.30.2009 | David Nicklaus
    09.30.2009 3:35 pm Auto employment in St. Louis shrinks to just 700 By David Nicklaus St. Louis Post-Dispatch After reading STL JobWatch’s update on the unemployment situation in St. Louis, I headed for the Bureau of Labor Statistics website to refresh my knowledge on where the jobs are being lost. There are no surprises in the big industry categories, which I’ll get to in a moment. One number did, however, leap out at me: In August, the metro area had just 700 auto manufacturing jobs. That was down from 3,000 in July, a drop that reflects the shutdown of Chrysler’s...
  • GM to end Saturn brand as buyer drops bid

    09/30/2009 1:52:08 PM PDT · by bruinbirdman · 48 replies · 1,334+ views
    AFP ^ | 9/30/2009
    General Motors said Tuesday it would wind down its Saturn brand after talks broke off with Penske Automotive Group on a bid for the nameplate. GM said in a statement that Penske "has decided to terminate discussions" to acquire Saturn "because of the inability to source new products beyond what it had asked GM to build on contract." "This is very disappointing news and comes after months of hard work by hundreds of dedicated employees and Saturn retailers who tried to make the new Saturn a reality," the US automaker said.
  • Buyers Feel Regret as Cash for Clunkers Final Tally Is Released (Suprise!)

    09/08/2009 7:45:18 AM PDT · by 2banana · 89 replies · 3,659+ views
    Edmunds ^ | 08-26-2009 | Anita Lienert
    WASHINGTON — The Cash for Clunkers buzz is starting to wear off and it seems that some buyers are having serious second thoughts about getting on that government-funded bandwagon, according to a new survey. In the meantime, the U.S. Department of Transportation said that dealers by Tuesday's deadline had submitted a final total of 690,114 Cash for Clunkers deals for $2.88 billion in rebates. The total is just under the revised $3-billion budget for the four-week program. The new survey by CNW Purchase Path, of Bandon, Oregon, finds that of nearly 1,000 Cash for Clunkers participants, 17 percent say they...
  • GM's 200 MPG+ Fantasy

    09/03/2009 7:06:49 AM PDT · by h20skier66 · 15 replies · 685+ views
    Commodity News Center ^ | 9/3/09 | Adrian Veidt
    A few weeks ago, Government Motors dropped a public relations bomb when new chief Fritz Henderson announced that the forthcoming Chevy Volt would get an astonishing 230 miles per gallon (that's 98 kilometers per liter, for our metric-system friends). We'll stop short of calling it a fabrication and instead chalk it up to a classic apples-to-oranges comparison. After all, the Volt will be powered more by coal than by oil. United States EPA mileage guidelines are based on a bunch of hypothetical “typical” driving patterns. And the makers of conventional and plug-in hybrid cars are lobbying hard to change those...
  • Dealers Still Waiting For Clunker Cash

    09/01/2009 7:15:15 AM PDT · by Erik Latranyi · 24 replies · 811+ views
    Keloland Television ^ | 31 August 2009 | Don Jorgensen
    Auto makers will release their monthly sales reports Tuesday and they're expected to show the first year-to-year increase since 2007. While the Cash for Clunkers program is getting all the credit, local car dealers are still waiting for their cash. During the month long program, Billion Automotive sold close to a thousand vehicles but has only been reimbursed for 272 of them. Vern Eide sold over 200 cars and has only been paid for 27 of them, and that's fueling lots of concerns in the auto industry. Billion Automotive cashed in during Cash for Clunkers, but owner Dave Billion is...
  • Hundreds of NY Auto Dealers Pull Out of Cash For Clunkers

    08/19/2009 4:19:17 PM PDT · by Shellybenoit · 7 replies · 478+ views
    Brietbart/The Lid ^ | 8/19/09 | The Lid
    Over all the Cash for Clunkers program makes about as much sense as breaking all the windows in the country so that you can sell new windows. You trade in a car get $4,500 toward a new car and the dealer has to destroy your old car, instead of re-selling it. This clunker of a program breaks a key rule of economics, for an economy to grow you need to create capital. The United States economy is in the crapper and our government, is destroying capital. It gets even worse, dealers all over the country have been complaining because they...
  • Michigan unemployment Rate Soars to 15.1%

    07/15/2009 12:09:23 PM PDT · by Kieri · 122 replies · 2,440+ views
    WLNS ^ | 07/15/09 | Various
    Michigan's unemployment rate for June of 2009 jumped to 15.2%. That's a 1.1% increase over the prior month. Rates usually climb or fall by a few tenths of a percent. It's rare to see such a substantial increase or decrease. But experts say the struggling economy combined with the ailing auto market means Michigan has been hit harder than other states. We'll have much more on the numbers and what it means for Michigan tonight on 6 News at 5 and 6.
  • Koenigsegg 'confident' of Saab rescue

    06/14/2009 12:10:12 PM PDT · by WesternCulture · 26 replies · 782+ views
    www.thelocal.se ^ | 06/14/2009 | AFP/The Local
    Koenigsegg, the Swedish luxury sports carmaker set to buy Saab Automobile from US firm General Motors, is confident that the company can be rescued, the firm's co-owner said on Saturday. GM, which has now filed for bankruptcy protection in the United States, placed Saab on the market in February as part of its attempts to slim down its brand range and return to profitability. A Sveriges Television (SVT) report on Thursday said Koenigsegg and a group of Norwegian investors had signed a letter of intent to buy Saab. Bård Eker, whose holding company Eker Group holds a 49 percent stake...
  • It's official: Koenigsegg buys SAAB!

    06/11/2009 3:11:48 PM PDT · by WesternCulture · 23 replies · 1,573+ views
    www.thelocal.se ^ | 06/11/2009 | TT/The Local
    Sporty Swedish car maker Koenigsegg has teamed up with a group of Norwegian investors to buy Saab from General Motors, according to state broadcaster Sveriges Television's news show Rapport. Koenigsegg has signed a declaration of intent with regard to the purchase, with more detailed negotiations set to continue over the coming months. The sports car maker, based in Ängelholm in southwest Sweden, has secured the backing of Norwegian investors, according to Rapport. Koenigsegg has long been named as one of the parties interested in snapping up the ailing Swedish auto giant. Earlier on Thursday, the Swedish trade ministry indicated that...
  • Coda unveils 'practical' all-electric sedan

    06/03/2009 4:08:10 PM PDT · by smokingfrog · 49 replies · 1,051+ views
    cnet.com ^ | June 3, 2009 | Martin LaMonica
    You could call electric car company Coda Automotive the anti-Tesla. The company, formed by fleet vehicle provider Miles Electric, on Wednesday unveiled the Coda, a plain-looking electric car that's designed for everyday use. The highway-capable four-door sedan can go between 90 and 120 miles on its lithium ion battery pack. It will be available to consumers in California in the fall of 2010 at a price of $45,000. The cost can be offset by about $10,000 from a federal tax credit and state incentives, the company said. Coda is marketing the car as a way to kick the oil habit...
  • I want GM to Fail!

    06/02/2009 4:57:36 AM PDT · by wiseprince · 27 replies · 799+ views
    Today I commited to the largest purchase of my entire life. The only problem was that I didn’t even have a say in it. I am now the not so proud owner of Government Motors (GM) and quite frankly I think I could have done a little better with my $10.5 billion dollars. As though we needed anymore proof that the Conservative party, led by Stephen Harper, has redefined conservatism in Canada as a light form of liberalism Harper has commited to, if not the largest, one of the largest government bailouts in Canadian history and quite frankly Canadians had...
  • The End of the Affair (a tragic romance... killed by bureaucrats, bad taste and busybodies)

    05/30/2009 10:46:15 AM PDT · by Painesright · 15 replies · 1,164+ views
    The Wall Street Journal ^ | 05/30/09 | P.J. O'Rourke
    The phrase “bankrupt General Motors,” which we expect to hear uttered on Monday, leaves Americans my age in economic shock. The words are as melodramatic as “Mom’s nude photos.” And, indeed, if we want to understand what doomed the American automobile, we should give up on economics and turn to melodrama. Politicians, journalists, financial analysts and other purveyors of banality have been looking at cars as if a convertible were a business. Fire the MBAs and hire a poet. The fate of Detroit isn’t a matter of financial crisis, foreign competition, corporate greed, union intransigence, energy costs or measuring the...