AUTO123

2009 Quebec Auto Show : A good score despite fewer visitors

2009-03-09T19:40:00.001-07:00

The 28th edition of the Quebec Auto Show wrapped up on Sunday with a total attendance of 53,095 visitors, which represents a 9-percent drop from 2008 (59,021). The event is organized by the Corporation des concessionnaires d'automobiles de la régionale de Québec (CCARQ) and still remains one of the most popular auto shows in Canada and North America when taking into account the regional demographic pool.

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Ford Work Solutions: Auto123.com's reaction

2009-03-09T11:45:00.005-07:00

Ford's doing some cool stuff when it comes to integrating modern electronics into their vehicles. Their Sync system allows drivers to voice-command their cell phones, blackberries, MP3 players and the like-- and it can even read incoming text messages.

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Original source : http://www.auto123.com/en/news/car-news/ford-work-...

What's new at Auto123.com (video)

2009-03-09T11:45:00.003-07:00

This week, Auto123.com features the following road tests: The Chevrolet Traverse, the latest variation on GM's quartet of seven-passenger crossover SUVs. The Mitsubishi Lancer Ralliart, a compact, 237-horsepower sedan that won't empty your bank account! The Jeep Wranger Unlimited, a heavy-duty all-rounder that will be happy to go exploring with the entire family. Also, check out our video on the brand new 2010 Toyota Prius, the most sought-after green car you can think of.

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Original source : http://www.auto123.com/en/news/car-news/whats-new-...

Direct injection explained

2009-03-09T11:45:00.001-07:00

Technically similar to a diesel engine's injection, direct gasoline injection technology promises an improvement in fuel efficiency as well as a reduction in emissions. For any gasoline engine to operate properly, it needs the right combination of air and fuel for combustion. The ideal mixture is 14.8 grams of air for each gram of fuel.

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Original source : http://www.auto123.com/en/news/car-news/direct-inj...

Canada seeks North American Fuel Economy Standard

2009-03-07T22:18:00.001-08:00

Canada's Environment Minister, Jim Prentice, says that Canada aspires to become part of a stringent North American fuel efficiency standard for the continents highly integrated auto industry.

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Original source : http://www.auto123.com/en/news/green-wheels/canada...

New Ford Raptor web page joins simulator in offering consumers taste of new off-road truck

2009-03-07T15:11:00.003-08:00

With a look born in the desert, the new Ford F-150 SVT Raptor Web page is a place enthusiasts can immerse themselves in the experience of driving a truck built to excel in the most extreme conditions. Launching today, the new Web page - www.fordvehicles.com/f150raptor - highlights the expansive features of Ford's new high-performance off-road truck.

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Original source : http://www.auto123.com/en/news/car-news/new-ford-r...

Canada seeks North American Fuel Economy Standard

2009-03-07T15:11:00.001-08:00

Canada's Environment Minister, Jim Prentice, says that Canada aspires to become part of a stringent North American fuel efficiency standard for the continents highly integrated auto industry.

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Original source : http://www.auto123.com/en/news/car-news/canada-see...

250,000th Porsche Cayenne rolls off the line

2009-03-06T17:39:00.003-08:00

Porsche AG today produced the 250,000th Cayenne at its Leipzig plant in Germany. The milestone vehicle is a white, 6-cylinder model with a diesel engine that will be delivered to a customer in Austria. The Cayenne, a sporty SUV, has been produced in Leipzig since 2002.

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Rapid progression for Kia (video)

2009-03-06T17:39:00.001-08:00

Quebec City - The province of Quebec represents Kia's biggest market in Canada. The Korean automaker has staked a lot on the 2009 Quebec City Auto Show, as it coincides with the arrival of some big players: the new Soul crossover and the Forte compact sedan. And by adding to the Koup to its list of newcomers, Kia Canada's managers are hoping to pull off quite a - coup!

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2010 Ford Escape adds new safety technologies

2009-03-06T10:10:00.003-08:00

DEARBORN, Mich. - Ford's 2010 Escape, the small SUV with the best crash test ratings of any vehicle in its class, is increasing its technology leadership with the addition of five new features that improve safety, reduce driver distractions and aid drivers by automatically parallel parking their vehicle.

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February 2009 sales in Canada; Hyundai scores, GM plunges

2009-03-06T10:10:00.001-08:00

The downward spiral carries on in February for most automakers, as total Canadian light vehicles sales are down by 27.7% compared to the same period in 2008. Only 8 out of 26 brands saw their sales numbers go up.

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Original source : http://www.auto123.com/en/news/car-news/february-2...

Canada seeks North American Fuel Economy Standard

2009-03-06T02:41:00.001-08:00

Canada's Environment Minister, Jim Prentice, says that Canada aspires to become part of a stringent North American fuel efficiency standard for the continents highly integrated auto industry.

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Original source : http://www.auto123.com/en/news/green-wheels/canada...

An Electrifying Auto Show

2009-03-05T19:28:00.003-08:00

Quebec City - The organizers of the Quebec City Auto Show are fond of innovation and enjoy surprising their visitors. Following the recent trend, they've chosen to enable visitors to get up close and personal with some of the electric vehicles currently making headlines, four vehicles that have been developed in Québec or that are produced with the help of considerable local support.

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Original source : http://www.auto123.com/en/news/car-news/an-electri...

Canada seeks North American Fuel Economy Standard

2009-03-05T19:28:00.001-08:00

Canada's Environment Minister, Jim Prentice, says that Canada aspires to become part of a stringent North American fuel efficiency standard for the continents highly integrated auto industry.

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Original source : http://www.auto123.com/en/news/car-news/canada-see...

Lotus to show Geneva its Omnivore engine

2009-03-05T03:43:00.001-08:00

In some circles, it's a little-known fact that Lotus isn't just a builder of tiny, fast cars that try to out-handle military aircraft on Top Gear. Though the UK-based company got their reputation for building lightweight performance cars, the automaker is also involved in several environmentally-friendly engineering initiatives as well.

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Original source : http://www.auto123.com/en/news/car-news/lotus-to-s...

BCAA's survival skills for the family road trip this Spring Break

2009-03-04T12:28:00.005-08:00

Any kid who's had to endure a long flight or road trip next
to an annoying sibling has probably heard those words. Even at the best of
times, travelling can be stressful. But travelling with children presents a
whole different set of challenges - namely keeping the peace and maintaining
sanity during long flights and drives.

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Original source : http://www.auto123.com/en/news/car-news/bcaas-surv...

Lagonda: Revival of a Luxury Brand

2009-03-04T12:28:00.003-08:00

The revival of Lagonda fulfils a long-term vision and will bring performance luxury into new markets and territories around the world for Aston Martin Lagonda. Ultimately, Lagonda will be a strong presence in 100 global territories, vastly increasing the global brand reach of the company and extending to new customers.

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Original source : http://www.auto123.com/en/news/car-news/lagonda-re...

Canada seeks North American Fuel Economy Standard

2009-03-04T12:28:00.001-08:00

Canada's Environment Minister, Jim Prentice, says that Canada aspires to become part of a stringent North American fuel efficiency standard for the continents highly integrated auto industry.

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Original source : http://www.auto123.com/en/news/green-wheels/canada...

2009 Quebec Auto Show

2009-03-03T21:01:00.003-08:00

Quebec - This week, auto fans in the Greater Quebec City area will flock to Expocité for the 2009 Quebec Auto Show, which kicked off earlier today and lasts until Sunday. Presented by the Corporation des concessionnaires d'automobiles de la régionale de Québec (CCARQ), the 28th edition of this event showcases more than 275 vehicles, including six regional premieres.

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Original source : http://www.auto123.com/en/news/car-news/2009-quebe...

Lotus to show Geneva its Omnivore engine

2009-03-03T21:01:00.001-08:00

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Original source : http://www.auto123.com/en/news/car-news/lotus-to-s...

Ford Work Solutions(tm) Expands Capability and Productivity of America's Favorite Trucks

2009-03-03T13:20:00.005-08:00

CHICAGO, March 3, 2009 - Ford further expands its 'smart' features for truck customers with a collection of industry-exclusive technologies for F-Series trucks and commercial E-Series vans that will help make business owners more productive and successful.

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Canada seeks North American Fuel Economy Standard

2009-03-03T13:20:00.003-08:00

Canada's Environment Minister, Jim Prentice, says that Canada aspires to become part of a stringent North American fuel efficiency standard for the continents highly integrated auto industry.

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Original source : http://www.auto123.com/en/news/car-news/canada-see...

Grand Opening of the Québec Auto Show Tomorrow

2009-03-03T13:20:00.001-08:00

The 28th edition of the Québec Auto Show will kick off this Tuesday at the Québec City convention centre. This year organizers opted for the theme "Make the green shift." Showgoers will have the opportunity to see new green technologies, some of which were developed in the province of Québec.

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Original source : http://www.auto123.com/en/news/car-news/grand-open...

What's new at Auto123.com (video)

2009-03-02T13:32:00.001-08:00

This week, Auto123.com features the following road tests: The Cadillac Escalade Hybrid, a commendable effort on GM's part to create a more fuel-efficient juggernaut. The new 2009 Dodge Ram pickup truck, offering up practical and original solutions. And the Pontiac Vibe All-Wheel-Drive, a popular compact hatchback that's banking on its handy layout. Also, don't miss our video on the intricacies of Ford's new MyKey system, which gives parents an effective way to encourage their teens to develop better driving habits.

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Cavallino Classic event in Palm Beach, Florida

2009-02-28T04:03:00.001-08:00

For a second year now, yours truly has had the opportunity to attend the Cavallino Classic, an annual event organized by the American magazine of the same name and dedicated to the Maranello brand.

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Lotus to show Geneva its Omnivore engine

2009-02-26T15:23:00.001-08:00

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Original source : http://www.auto123.com/en/news/car-news/lotus-to-s...

The MCE-5 VCRi, a new kind of conventional engine

2009-02-26T08:02:00.005-08:00

In these morose times where hard-to-come-by credit and a financial crisis are having their way with the auto industry, revival will come from the development of a new type of heat engine. Over the next 20 or 30 years, this type of mill will no doubt still account for nearly 80% of the market.

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Kia launches a new fragrance, the No.3 Concept

2009-02-26T08:02:00.003-08:00

Kia's in top form. The brand's next opus will shortly be unveiled in Geneva in the shape of a new Concept, the No.3. With a much more European flavour, it marks a step forward in Kia's design language.

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Original source : http://www.auto123.com/en/news/car-news/kia-launch...

Ford MyKey is every parent's friend (video)

2009-02-26T08:02:00.001-08:00

Ford Motor Company wants to become every parent's best friend, which is why they introduced an all-new car management system. It may not be Big Brother, but this technology does encourage young drivers to develop better habits behind the wheel.

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Photo radar: smile, you're on camera!

2009-02-25T02:28:00.001-08:00

As of May 19, Québec motorists will have to pay particular attention to their speed on certain parts of the highway, as that's when photo radars will be making their appearance alongside traffic cameras at red lights.

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Original source : http://www.auto123.com/en/news/car-news/photo-rada...

Rolls-Royce to introduce the 200EX Concept in Geneva

2009-02-23T12:32:00.009-08:00

Things have been going well for Rolls-Royce since the British cult brand was snapped up by the BMW Group. Putting the brand's rich and nearly infinite tradition to good use, the engineers are gearing up to present yet another new concept at the Geneva Show, the 200EX sedan.

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What's new at Auto123.com (video)

2009-02-23T12:32:00.007-08:00

This week, Auto123.com features the following road tests: The Kia Soul, the new all-purpose vehicle designed for the young and the young at heart. The Saab 9-3 Aero Sport Cross Wheel-Drive, the Swedish all-wheel-drive sedan that we've been breathlessly waiting for. And lastly, the Porsche Cayenne Turbo S, the supreme SUV. Also, check out our video on the Suzuki SX4 DDiS, a foretaste of a diesel version - thus more fuel efficient - that will soon be available in Canada.

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GM Canada delivers their plan to Ottawa

2009-02-23T12:32:00.005-08:00

GM Canada delivered their restructuring plan to Ottawa earlier this week, outlining a transformative path to sustainability that would enable the Automaker to repay Canadian taxpayers.

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GM reassigns High Performance Vehicle Operations team

2009-02-23T12:32:00.003-08:00

GM is citing a more 'refined focus' on their core products as the reason for temporarily reassigning their High Performance Vehicle Operations (HPVO) team. The team is made up of about 60 engineers based out of GM's Warren Tech Centre. Vehicles under the HPVO umbrella included the V-Series Cadillacs, and the SS variants of both the Chevrolet Cobalt and Chevrolet HHR.

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Original source : http://www.auto123.com/en/news/car-news/gm-reassig...

KTM to show two world premieres at Geneva

2009-02-23T12:32:00.001-08:00

Austrian motorcycle manufacturer KTM is perhaps best known for their off-road motorbikes, though 2009 marks their second year with the X-BOW sports car. KTM will present two world premieres to audiences at the Geneva Motor Show next month, alongside a redefined product range that offers a tiered selection of their super-light supercar.

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Original source : http://www.auto123.com/en/news/car-news/ktm-to-sho...

This Week in Photos: 2-16-2009 - 2-21-2009

2009-02-22T21:50:00.001-08:00

Since we’re just a week away from the 2009 Geneva Motor Show, this week’s “Week in Photos” is filled with previews of the cars we’ll see in Geneva next week. Check out photos of the Fiat 500C, 2010 Audi A4 allroad quattro, Rinspeed iChange Concept, 2010 Mercedes-Benz E-Class Coupe, 2010 Hyundai Equus, 2010 Ford Ranger, [...]

Click through for the list of photo galleries.

Fiat 500C (View Post):

2010 Audi A4 allroad quattro (View Photos):

ABT Sportsline 2009 Geneva Motor Show Lineup (View Photos):

Rinspeed iChange Concept (View Photos):

2010 Mercedes-Benz E-Class Coupe (View Photos):

2010 Hyundai Equus (View Post):

2010 Chrysler 300 and 2010 Jeep Grand Cherokee Sketches (View Photos):

2010 Cadillac CTS Coupe (Production) (View Post):

2010 Ford Ranger (View Photos):

Ford ECOnetic Range (View Post):

Hyundai ix-onic Concept (View Post):

Hyundai i20 3-Door (View Post):

BRABUS G V12 S Biturbo (View Post):

Koenigsegg Quant Concept (View Post):

2009 Chevrolet Corvette GT1 Championship Edition Package (View Post):

Rolls-Royce 200EX (View Photos):

Audi TT-RS Teasers (View Post):

Top Gear 1981 Volkswagen Rabbit Diesel (View Photos):

2010 Porsche Cayenne S Hybrid (View Photos):

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The vintage car, a sure investment?

2009-02-22T00:28:00.001-08:00

If you ask professor David Foot, demographer at the University of Toronto and author of Boom, Bust and Echo, a study on the influence of demography and the baby boom on our daily lives, he'll say it's all about demographics.

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Hyundai to run eight ad spots during the Oscars

2009-02-21T18:08:00.001-08:00

After a successful Super Bowl XLIII campaign, Hyundai Motor America plans to take over the Oscars tomorrow. The Korean automaker has purchased eight spots during Sunday’s Academy Awards including a new ad for the 2010 Hyundai Genesis Coupe.
Along with its Genesis Sedan 2009 North American Car of the Year ad, Hyundai will debut a new [...]

Along with its Genesis Sedan 2009 North American Car of the Year ad, Hyundai will debut a new Hyundai Assurance Plus spot. The company will run a total of seven 30-second spots and one 60-second spot during the Oscars.

The Hyundai Genesis Coupe ad is expected to feature score by Yo-Yo Ma and his solo of “Gigue” from Bach’s Suite No. 3 in C Major.

2010 Hyundai Genesis Coupe:

Source: Inside Line

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2008 vehicle sales in Canada: winners and losers

2009-02-21T03:26:00.001-08:00

By now, everyone knows how bad the economy is doing, and a perfectly normal reflex is to hold off major purchases like houses and cars. Yet the year-end results are surprising in some cases.

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Giugiaro bringing the fastest hybrid in the world to Geneva

2009-02-20T20:59:00.009-08:00

Italdesign-Giugiaro S.p.A, an automobile design and engineering company in Turin, Italy, is most popular for their Ford Giugiaro Mustang Concept. Last year they unveiled Giugiaro Quaranta, a 4WD super sports-car that used a mid-mounted engine coupled with a hybrid system.
Well Giugiaro has something up its sleeve for the 2009 Geneva Motor Show and they are [...]

Well Giugiaro has something up its sleeve for the 2009 Geneva Motor Show and they are calling it the “fastest hybrid in the world.” Italdesign Giugiaro says that its unnamed concept car will run from 0 to 62 mph in just 4 seconds with a top speed of 186 mph. The Italdesign-Giugiaro fastest hybrid in the world will return an outstanding 124 mpg.

No powertrain info has been provided but the Giugiaro Quaranta was powered by a Toyota 3.3L V6 engine with Hybrid Synergy Drive from the Lexus RX. Stay tuned for more details from Geneva early next month.

Giugiaro Quaranta:

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Obama’s auto task force held first meeting today, will offer recommendations at next meeting

2009-02-20T20:59:00.007-08:00

The auto task force held its first meeting today at the U.S. Treasury department to discuss the survival of General Motors and Chrysler LLC. The U.S. Treasury department released a statement saying that task force members today “presented their initial analyses of the auto companies’ restructuring plans. Participants discussed issues including financial and operational restructuring, [...]

According to Automotive News, the auto task force will make its initial recommendation at its next meeting which could be as early as next week.

President Barack Obama was not present today but White House Press Secretary Robert Gibbs said he is likely to attend future meetings. The task force has to decide by March 31st whether the restructuring plans submitted by GM and Chrysler can ensure long-term viability through tough economic times.

Both automakers have asked for an additional $21.6 billion and have already received a total $17.4 billion in bail out.

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2009 Lamborghini Academy Program details announced

2009-02-20T20:59:00.005-08:00

Lamborghini has announced the dates for the 2009 Lamborghini Academy Program. The courses will be open to all sports enthusiasts and Lamborghini owners providing them with an opportunity to experience Lamborghini cars with professional Lamborghini instructors.
The course will be held at various European race tracks starting Spring 2009. The new Lamborghini Gallardo LP 560-4 and [...]

The course will be held at various European race tracks starting Spring 2009. The new Lamborghini Gallardo LP 560-4 and the Murcielago LP 640 will be the star of the program. The Advanced Academy will be the top level of the program for experienced drivers.

Lamborghini Academy courses start at 3,900 euro ($5,001 USD), including accommodation, cars at the race track and all driving instruction. Check out www.lamborghiniacademy.com for full details.

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Hyundai lays off 46 employees in the U.S.

2009-02-20T20:59:00.003-08:00

While Hyundai continues to cater to laid off Americans with its Assurance Program, the company laid off 46 employees of its 550 employees in the U.S. According to Hyundai employees, CEO John Krafcik cited the tough economy as its decision, reports Automotive News.
Krafcik said that most of the 46 employees being laid off were in [...]

Krafcik said that most of the 46 employees being laid off were in sales and marketing at its headquarters and regional offices. We’re wondering if those 46 employees will take advantage of the Hyundai Assurance program.

Hyundai sales were up 14.3 percent to 24,512 units in January. Some employees said that they were told the layoffs could have been worse if the company didn’t report a positive sales increase.

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Porsche Cayenne S Hybrid: 26 mpg, 0 to 60 in 6.8 secs

2009-02-20T20:59:00.001-08:00

Porsche today revealed more details about its Cayenne S Hybrid, which it plans to bring to the market in 2010. Porsche says that its Cayenne S Hybrid will emit 20 percent less C02 when compared to its combustion engine counterpart while having similar output and performance.
Power will come from a supercharged Audi 3.0L V6 with [...]

Power will come from a supercharged Audi 3.0L V6 with direct-injection producing some 333-hp with a maximum torque of 324 lb-ft (that’s the same engine found in the 2010 Audi S4). The engine will be mated to a 52-hp 3-phase electric motor making up to 221 lb-ft. The electric motor is powered by a 38 kW nickel hydride battery. 0 to 62 mph will come in just 6.8 seconds. Porsche says that its Cayenne S Hybrid will be able to travel at speeds of up to 86 mph without using its combustion engine. It is expected to average a fuel-economy of 26 mpg.

Porsche says a similar hybrid system will also be offered in the new Porsche Panamera following its debut in late summer 2009.

2010 Porsche Cayenne S Hybrid:

Press Release:

The Cayenne S Hybrid will deliver the power of a V8 and the efficiency of a four-cylinder

ATLANTA – February 20, 2009 —- Porsche AG, the Stuttgart, Germany-based high-performance car and SUV manufacturer, shared more information about its Cayenne S Hybrid, which will debut next year. Using a parallel full hybrid design with the electric motor between the combustion engine and the transmission, Porsche engineers have been able to drive at speeds up to 86 mph without at all using the combustion engine.

This engineering achievement allows the Cayenne S Hybrid to roll freely – or ‘coast’ — at highway speeds without the combustion engine on, greatly minimizing engine emissions and fossil fuel consumption. This differs from current hybrid concepts that deliver benefits mainly in city traffic. Porsche, in cooperation with Volkswagen, opted for the parallel full hybrid design as it also significantly improves acceleration, a concept that matches the company’s philosophy of offering outstanding performance and efficiency. It also fits in the current Cayenne design with minimal alterations and without affecting interior space or luggage capacity.

When it comes to market in 2010, the Cayenne S Hybrid is expected to emit some 20 percent less C02 than comparable combustion engine vehicles with similar power output. Covering a 0-to-100 km/h sprint in just 6.8 seconds, it earns its ‘S’ designation by delivering V8 performance and four-cylinder efficiency, all while complying with the Ultra Low Emission Vehicle II (ULEVII) emission standards.

The Cayenne S Hybrid uses a supercharged Audi 3.0-liter V6 engine with Direct Fuel Injection (DFI), 333 horsepower and 324 lb-ft of torque from 2,900 to 5,300 rpm. It is mated with 52-horsepower three-phase synchronous electric motor that produces up to 221 lb-ft of torque and also acts as an alternator, and the combined power units are joined to an eight-speed automatic transmission. Also on board is a 154-lb. no-maintenance 38 kW nickel metal hydride (NiMH) battery. Measuring 13.7” x 24.9” x 11.5”, it fits in the spare tire well, thus not compromising luggage capacity.

The Hybrid Manager is the Cayenne S Hybrid’s “Heart”

The heart of these technologies is the powerful Hybrid Manager, which requires some 20,000 data parameters to operate (compared to a conventional engine control unit that operates on less than one-third of the data). Since a parallel full hybrid operates in three classic hybrid modes – power generated by the combustion engine and electric motor, power generated by the combustion engine only, and power generated by the electric motor only – the Hybrid Manager’s main function is to seamlessly coordinate these modes to deliver optimal performance and efficiency.

With a clutch being the key connection between the combustion engine and the electric motor, the Hybrid Manager has the tough job of providing smooth but quick switching among the three hybrid modes without delay or a noticeable transition felt by the driver and passengers. For example, the Cayenne S Hybrid can motor along solely on electric power for up to 1.2 miles with the combustion engine off, and the Hybrid Manager will fire up the engine as soon as the driver presses the accelerator, increase engine speed appropriately and engage the clutch to transfer power to the transmission without the driver or passengers noticing what is happening. And, it does this within just 300 milliseconds.

When driving with just the combustion engine, the Hybrid Manager also will ensure the engine is operating as efficiently as possible in reference to its load. It switches the electric motor to an alternator mode, so the fuel consumed by the combustion engine not only efficiently powers the Cayenne but also generates electricity that can be ‘parked’ in the NiMH battery. Finally, when the driver presses the brake pedal, the Hybrid Manager feeds as much energy as possible from the electric motor (again running as an alternator) to the battery.

The Cayenne S Hybrid also has electrically driven ancillary components such as the air conditioning compressor and the power steering pump.

Unlike conventional Cayenne SUVs, the Cayenne S Hybrid uses an eight-speed automatic unit. Porsche engineers added to the conventional transmission oil pump a new electrical drive pump to shift gears smoothly and efficiently also in electric mode. Top speed comes in sixth gear, and the two higher gears serve to further reduce engine speed to enhance fuel economy. Eighth gear, for example, enables the driver to ‘coast’ along without the combustion engine at speeds up to 86 mph.

Porsche expects the Cayenne S Hybrid to consume less than nine liters of fuel per 100 kilometers in the New European Driving Cycle. EPA fuel economy figures are not yet available.

A similar hybrid system will find its way into the new Porsche Panamera® four-door gran turismo sometime following Porsche’s fourth model line debut in late summer 2009.

Porsche Cars North America, Inc. (PCNA), based in Atlanta, Ga., is the exclusive importer of Porsche sports cars and sport utility vehicles for the United States. It is a wholly owned, indirect subsidiary of Dr. Ing. h.c. F. Porsche AG. PCNA employs approximately 180 people who provide Porsche vehicles, parts, service, marketing and training for its 201 dealers. The dealers, in turn, provide Porsche owners with best-in-class service. Throughout its 60-year history, Porsche has developed numerous technologies that have advanced vehicle performance, improved safety and spurred environmental innovations within the automotive industry. The company continues to celebrate its heritage by adding to its long list of motorsports victories dating back to its first 24 Hours of Le Mans class win in 1951. Today, with more than 28,000 victories, Porsche is recognized as the world’s most successful brand in sports car racing. PCNA, which imports the iconic 911 series, the Boxster and Cayman sports cars and Cayenne sport utility vehicles and soon the Panamera gran turismo for the United States, strives to maintain a standard of excellence, commitment and distinction synonymous with its brand.

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2009 Chevrolet Corvette GT1 Championship Edition Package Unveiled

2009-02-19T22:45:00.003-08:00

GM has released details on its GT1 Champion Edition Package for the 2009 Chevrolet Corvette. The new package, which pays homage to the success of the Corvette C6.R in the Le Mans and American Le Mans GT1, will go on sale later this spring.
Available for the Corvette Coupe 4LT, Convertible 4LT or Z06 3LZ, pricing [...]

Available for the Corvette Coupe 4LT, Convertible 4LT or Z06 3LZ, pricing for the package starts at $7,840. Chevy will only offer 100 packages for each body style to keep it exclusive.

Check out the full list of features after the jump.

2009 Chevrolet Corvette GT1 Championship Edition Package:

• C6.R livery inspired graphics feature Corvette Racing ‘Jake’, Championships, and driver flags

• ZR1 style body color full width spoiler and chrome wheels

• Custom Leather Wrapped Ebony Interior with exclusive Yellow accent stitching

• GT1 embroidery on the leather seats, instrument panel, and center console armrest

• Special Engine Cover with carbon pattern and yellow Corvette lettering

• Windshield banner – owner installed

• Available in 45U Velocity Yellow (with black headlamps) or 41U Black

• Specific VIN sequence 300001 series for 45U Velocity Yellow representing the #3 C6.R

• Specific VIN sequence 400001 series for 41U Black representing the #4 C6.R

• Limited production to 100 per each color and body style combination and 600 total in Spring ‘09

• Coupe and Convertible versions also include: Z51 Performance Package, NPP Performance Exhaust

Source: Jalopnik

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Driven out by debt: Over 3,000 abandoned cars found at Dubai airport

2009-02-19T22:45:00.001-08:00

When you hear of Dubai, you think of a luxurious tax-free wealth lifestyle only few could afford. Of course for auto enthusiasts, Dubai is the land where one can spot some of the most expensive and exclusive automobiles of the world. However, faced with debt and shrinking credit, those living the high-life are abandoning Dubai [...]

According to TimesOnline, police have located more than 3,000 abandoned cars near Dubai’s international airport in recent months. Most of the cars are said to be four-wheel-drive SUVs, sedans and “a few” Mercedes-Benz models. Those running away from their debut left their keys in the ignition while some even left their maxed-out credit cards in the glove box. A few even left an apology notes on the windscreen.

“Every day we find more and more cars,” said a senior airport security official. “Christmas was the worst – we found more than two dozen on a single day.”

The security official said that a lot of people were living a very luxurious lifestyle that they couldn’t afford and were unable to pay their mortgages without available credit.

So why just abandon your amazing house and car and run away? Well, under Dubai law, punishment for defaulting on debt is punishable with jail. Those who leave everything behind are known as “skips.”

Source: TimesOnline

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Obama says his team is reviewing GM, Chrysler viability plan

2009-02-19T15:03:00.027-08:00

While offering no hint whether or not his administration will approve GM and Chrysler’s request for another $21.7 billion in emergency loans, President Barack Obama said today that his economic team is currently reviewing the viability plans submitted by the two automakers earlier this week.
“We are deeply concerned about the current state of the North [...]

“We are deeply concerned about the current state of the North American auto industry,” Obama said, at a news conference in Ottawa, Canada, where he is currently visiting. “There is going to have to be a significant restructuring of the auto industry.”

Obama’s auto task force is scheduled to meet for the first time tomorrow, the same time when Canadian Prime Minister Stephen Harper will announce the Canadian government’s aid package for the automakers.

GM is requesting a total of $16.6 billion in additional loans while Chrysler is requesting an additional $2 billion.

Source: Detroit News

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Chevrolet Camaro SS, ZR1, Z06, Cadillac CTS-V safe from HPVO death

2009-02-19T15:03:00.025-08:00

Earlier this morning we reported that the General Motors disbanded its High Performance Vehicle Operations unit. GM said that engineers from the department will now focus on more high-volume Cadillacs, Buicks, Chevrolets and Pontiacs and that all high-performance projects are on an indefinite hold.
However, Camaro SS fans can rest assured that the 422-hp Camaro is [...]

However, Camaro SS fans can rest assured that the 422-hp Camaro is still on its way. According to Inside Line who spoke with spokesman Vince Muniga, the Camaro SS “is not threatened at all.” Muniga said that the Camaro SS along with the Corvette ZR1 and Corvette Z06 are regularly engineered cars and don’t go through HPVO.

HPVO is responsible for products such as the V-series Cadillacs, Chevrolet Cobalt SS, HHR SS and a V8 version of the Colorado.

Muniga said that the Cadillac CTS-V is also a regularly engineered car and will continue through its life-cycle.

Chevrolet Camaro SS:

Chevrolet Corvette ZR1:

Cadillac CTS-V:

Source: Inside Line

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Take the kids to school in a Koenigsegg: Koenigsegg Quant Concept hints at future four-door

2009-02-19T15:03:00.023-08:00

For those of you (like us) getting swamped with all the 2009 Geneva Motor Show previews make sure you follow our Geneva Motor Show tag for the latest updates. Joining the huge onslaught of debuts is Swedish supercar maker Koenigsegg which will soon compete the ranks of the four-door high-performance supercars. Along with a one sentence press release that doesn’t provide any details, Koenigsegg said it will unveil its Quant concept in Geneva hinting at a future four-door Koenigsegg built on an all-new platform.

With Koenigsegg being a very elite brand, we expect the Quant to be the most expensive four-door luxury sedan amongst the Aston Martin Rapide, Porsche Panamera and the upcoming Lamborghini Estoque.

Powertrain details have yet to be made available but we expect Koenigsegg to throw in their current engine choices. More details will be available next month.

Koenigsegg Quant Concept:

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Rolls-Royce 200EX: Baby Phantom leaked before Geneva debut

2009-02-19T15:03:00.021-08:00

Earlier this morning we showed you a teaser for the “baby Phantom” which now has an official concept name - the Rolls-Royce 200EX. Well it seems like some of the European publications, including our friends at CAR, have broken the embargo and released the images and details on Rolls-Royce’s Geneva Motor Show star.
The production model [...]

Earlier this morning we showed you a teaser for the “baby Phantom” which now has an official concept name - the Rolls-Royce 200EX. Well it seems like some of the European publications, including our friends at CAR, have broken the embargo and released the images and details on Rolls-Royce’s Geneva Motor Show star.

The production model of the 200EX will arrive in spring 2010 with very little changes. A production name has yet to be revealed but according to CAR, pricing will start around £180,000 (around $257,658 USD).

While the new baby Rolls rides on a new bespoke unitary chassis, it shares about 21 percent of its components with the BMW 7-Series including and not limited to some suspension hardware, steering rack and the electronics.

Under the hood is a new BMW V12 engine that will find its way under the new 2009 7-Series in the near future. The engine is expected to be mated to BMW’s ZF 7-speed automatic. More details will be available at the Rolls-Royce 200EX Geneva Motor Show launch early next month.

Click through for more pictures.

Rolls-Royce 200EX:

Source: CAR

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U.S. highway travel falls for 14th consecutive month

2009-02-19T15:03:00.019-08:00

For the 14th month in a row, Americans drove fewer miles, the U.S. Transportation Department said. However, thanks to cheap gasoline prices the decline was not as steep as previous months. Highway travel was down 1.6 percent in December falling by 3.8 billion miles to 237 billion miles.
October 2008 saw a drop of 3.7 percent [...]

October 2008 saw a drop of 3.7 percent while November saw a huge drop of 5.4 percent. While there was a national decline in December, 17 states posted a slight increase in miles traveled. Colorado had the biggest jump at 5.4 percent while Oregon had the biggest decline of 14.7 percent.

While fuel-efficient cars may be good for your wallet, they don’t seem to please the U.S. Transportation Department. The group said that due to less travel and more fuel-efficient cars on the road, there is less money going into the Highway Trust Fund from federal taxes on gasoline.

Source: CNNMoney

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Saturn sends letter to customers about becoming a spinoff brand

2009-02-19T15:03:00.017-08:00

Saturn owners have received a letter from the brand alerting them that it may be spun off by General Motors as an independent marketing and distribution company, reports Automotive News. In the letter, which was sent out to about 1.5 million Saturn owners, the brand said it will have to continue selling products from other manufacturers or [...]

Saturn owners have received a letter from the brand alerting them that it may be spun off by General Motors as an independent marketing and distribution company, reports Automotive News. In the letter, which was sent out to about 1.5 million Saturn owners, the brand said it will have to continue selling products from other manufacturers or General Motors.

“An independent Saturn would still have its great retailers, and it would continue to source current products from GM through 2011. If successful, SDC at that point would source products from other manufacturers,” said the letter.

A spokesman from Saturn said that the letter was sent out to assure current customers and potential Saturn buyers that the brand is viable and that GM will back warranties and product quality.

Saturn’s General Manager Jill Lajdziak said that the goal of a spinoff brand will be to find future vehicles to sell that match Saturn’s theme of affordable and fuel-efficient vehicles.

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2010 Ford Mustang pricing starts at $20,995, 2010 Shelby GT500 starts at $46,325

2009-02-19T15:03:00.015-08:00

FoMoCo has dropped the pricing info for the new 2010 Ford Mustang. Ford is quick to point out that rivals Chevrolet Camaro and Dodge Challenger start at prices ranging from $1,000 to $2,600 more than Mustang.
So what can you expect to pay for the new pony? The entry level V6 Mustang coupe start at $20,996 [...]

So what can you expect to pay for the new pony? The entry level V6 Mustang coupe start at $20,996 while the entry-level convertible starts at $25,995. The V8 powered 315-hp 2010 Mustang GT coupe and Mustang GT convertible start at $27,995 and $32,995 respectively. Of course if you want the 540-hp 5.4L V8 Supercharged 2010 Shelby GT500 coupe get ready to cash out $46,325. The 2010 GT500 convertible starts at $51,225.

The 2010 Ford Mustang will go on sale later this spring. You can check out all the options and packages in the press release posted after the jump.

Follow the jump for the press release and the high-res image galleries.

2010 Ford Mustang:

2010 Ford Shelby GT500:

Press Release:

NEW 2010 FORD MUSTANG IS FAST, FUN, AFFORDABLE; PRICE STARTS UNDER $21,000 WITH UNSURPASSED 26 MPG

    - The 2010 Ford Mustang features a more sculptured muscular exterior, an upgraded world-class interior, a host of must-have technologies and unsurpassed fuel economy of 26 mpg on the highway, all for the best value at a starting price of $20,995

    - The Mustang offers the broadest range of available power in its segment from the 210-horsepower 4.0-liter V-6 to the GT featuring a 4.6-liter V-8, delivering 315 horsepower, up to the Shelby GT500’s 5.4-liter supercharged V-8 pumping out 540 horsepower

    - Mustang and Shelby GT500 are available as a coupe or convertible. An optional factory-installed glass roof is offered on the V-6 and GT premium models

DEARBORN, Mich., Feb. 19, 2009 – The fast, fun and affordable legacy that has defined America’s favorite muscle car for nearly a half century lives on in the new 2010 Ford Mustang, which incorporates an expert blend of design leadership, performance and technology at an exceptional value.

“More than 9 million customers have made Mustang one of the world’s most beloved automotive and cultural icons,” said Ken Czubay, Ford’s vice president of U.S. Sales and Marketing. “Making sure this modern legend lives up to their expectations has been our driving force to create the best Mustang ever. Not only is this the best Mustang ever, it’s also the best bang for the buck for our customers.”

Available this spring, the new Mustang features a new exterior and interior design, upgraded materials and a long list of must-have technologies and standard safety equipment – such as Ford’s AdvanceTrac® Electronic Stability Control system, all-speed traction control, anti-lock brakes and front and side air bags – for an affordable starting price of $20,995 (excluding destination and delivery) for the V-6 coupe and $25,995 for the convertible. The V-8 powered GT coupe base price is $27,995; the GT convertible starts at $32,995. The Shelby GT500 Coupe has a MSRP of $46,325, while the GT500 Convertible starts at $51,225.

Contenders Chevy Camaro and Dodge Challenger sport base sticker prices ranging from $1,000 to $2,600 more than Mustang.

Unparalleled Design

The new exterior of the Mustang delivers more muscular, athletic styling, with new sheet metal except for the roof, including a refined powerdome hood, new front fenders, a sweeping beltline and a new decklid design. Other exterior notables include new grille and fascia differentiation between the V-6 and GT models, new front and rear fascias, higher wheel arches and new LED sequential taillights.

Mustang’s interior is in a class all by itself, from the new one-piece soft touch instrument panel, chrome encircled gauges and a center console design that pampers the shifter for that perfect feel and level of control. Subtle or high-profile, all interior elements are defined by precise ergonomic accuracy and a faithful devotion to craftsmanship that even the most discerning performance car enthusiast will appreciate.

“Attention to detail is the bedrock of the new interior and what sets Mustang miles apart from the competition,” said Mustang Design Manager Gary Morales.

Industry Leading Technologies

Mustang further distinguishes itself from the pack with an all-inclusive list of standard and optional industry-leading technologies and safety features, including:

    - Ford SYNC® with 911 AssistTM, Vehicle Health Report (VHR), and new Traffic, Directions, and Information services

    - Voice-activated Navigation with SIRIUS® Travel LinkTM

    - Next-generation ambient interior lighting

    - Reverse Camera System

    - SOS Post Crash Alert System

Mustang comes standard with Ford’s AdvanceTrac® Electronic Stability Control system, which complements the car’s standard all-speed traction control and anti-lock braking system. A Sport Mode, available on the GT Premium and Shelby GT500, incorporates a unique calibration of the new AdvanceTrac system, letting the driver enjoy a wider range of Mustang’s performance capabilities.

Options Galore

Mustang is America’s best-selling convertible, thanks to features like a three-layer weatherproof power top. Mustang V-6 and GT models are available with convertible tops for an additional $5,000.

For a no-matter-the-weather “open” experience, Mustang also offers a factory-installed glass roof option for $1,995 on the V-6 and GT models.

The fixed glass roof is made of two layers of tinted privacy glass with a layer of transparent vinyl in between, which reduces vehicle cool-down time as well as infrared energy and ultraviolet (UV) rays. The roof, for example, filters 90 percent of the sun’s heat-generating infrared rays and 96 percent of burn-causing UV rays. A thick polyvinyl butyral layer further filters UV rays and helps muffle wind and traffic noise by as much as five decibels. For added privacy and protection, a manually retractable mesh sun shade comes standard.

Mustang also offers a wide selection of personalization options from the factory as warranty-friendly Genuine Ford Accessories, from exterior stripes to interior appearance features, wheel selections, communication and entertainment systems and more.

Plus, Mustang enthusiasts can now add Performance Packs available from Ford Racing, including a Power Upgrade Pack, Handling Pack, or SuperPack – all under warranty when installed by a Ford dealer.

Fuel Facts

The 2010 Mustang is jam-packed with unprecedented content, yet it weighs approximately 300 pounds less than the competing Camaro and Challenger. This leaner curb weight gives Mustang a competitive leg up in agility and contributes significantly to Mustang’s unsurpassed 26 mpg.

Mustang’s available engines, including the GT’s beefy 4.6-liter V-8, also are designed to use regular 87-octane fuel, allowing customers to save even more money at the pump, without sacrificing performance. Both Camaro and Challenger recommend premium grade gasoline.

Mustang also makes fill-ups more hassle-free with its standard Easy Fuel™ Capless Fuel Fuller system, a segment exclusive.

The Shelby GT500

For Mustang lovers who prefer the highest performance, the 2010 Shelby GT500 offers a 5.4-liter supercharged four-valve V-8 engine that pumps out 540 horsepower and 510 ft.-lbs. of torque. Thanks in part to a cold-air intake system, lower-restriction exhaust, new engine calibration and revised gearing, the 2010 Shelby GT500 delivers more power while also increasing fuel efficiency. The GT500 improves its fuel economy by 2 mpg on the highway for a rating of 14 mpg in city driving and 22 mpg on the highway. Power is sent to the ground through a short-shift six-speed manual transmission with a limited-slip 3.55 rear axle gear ratio.

New suspension tuning and aerodynamic improvements give the 2010 Shelby GT500 sharper handling, improved body control and better overall vehicle dynamics while still maintaining a good ride and handling balance. Forged and machined 19-inch alloy wheels wrapped in Goodyear F1 Supercar tires, combined with the revised suspension, gives the car a high level of grip.

New standard features for the 2010 Shelby GT500 include high-end items such as Alcantara® on the heavily bolstered sport seats, steering wheel, shift boot and hand brake; leather stripes stitched into the seats that coordinate with the exterior stripe color; Q-ball shift knob and aluminum interior trim that enhances the Shelby GT500 driving environment.

Both the 2010 Mustang and Shelby GT500 arrive in dealerships this spring.

2010 Mustang Reference Materials

Pricing Guide

Packaging Guide

Standard Equipment on 4.0-liter V-6:

Powertrain/Functional

    - 4.0-liter V-6 Engine

    - 5-speed Manual Transmission

    - Power Vented 4-wheel Disc Brakes with Anti-lock Braking System (ABS)

    - Remote Keyless Entry System

    - Rear-window Defroster

    - Easy FuelTM Capless Fuel Filler System

Exterior

    - LED Sequential Taillamps

    - LED High Mounted Stop Lamp

    - 17-inch Painted Aluminum Wheels

    - Convertible Top (Convertible Model)

    - Mini Spare Tire

    - Stainless Steel, Single Exhaust

    - Complex Reflector Halogen Headlamps

    - Dual Power Black Mirrors

    - Rear Quarter Mounted Antenna

Interior

    - Manual Air Conditioning

    - AM/FM Stereo with Single-disc CD Player and Clock

    - Audio Input Jack

    - Floor Console with Full Armrest and Locking Storage

    - Two Covered Cup Holders

    - Black Front Floor Mats

    - Driver Footrest

    - Chrome Accent 4-gauge Instrument Cluster and Register Vents

    - Dome Lamp (Coupe Only)

    - Lighted Bezel (Convertible Only)

    - Two Map Pockets, Back Side of Driver and Passenger Seats

    - Cloth Bucket Seats, 4-way Manual Driver, 2-way Manual Passenger (Split-fold Rear Seats on Coupe)

    - Tilt Steering Wheel with Cruise Control

    - Power One-touch-up/down Driver and Passenger Windows

    - Power Locks

    - Interior Trunk Release

Safety & Security

    - Dual-stage Front Airbags

    - Front-seat Side Airbags

    - Illuminated Entry

    - Tire Pressure Monitoring System (TPMS)

    - LATCH (Lower Anchors and Tethers for CHildren)

    - SecuriLock® Passive Anti-theft System

    - Personal Safety System®

    - AdvanceTrac® Electronic Stability Control

    - SOS Post Crash Alert System

Optional Equipment on 4.0-liter V-6:

    - Security Package

          o Active Anti-theft System

          o Wheel Locking Kit

Optional Equipment on 4.0-liter V-6 Premium: Exterior Sport Appearance Package

- Lower Tape Stripe

- Decklid Spoiler

V-6 Pony Package

    - 18-inch Polished Aluminum Wheels

    - Body-color Exterior Mirrors

    - Unique Grille

    - Fog Lamps

    - Pony Fender Badge

    - Auto Headlamps

    - Premium Floor Mats with Embroidered Tri-bar Pony Logo

    - Decklid Spoiler

    - Unique Lower Tape Stripe

    - Unique Chrome Exhaust Tip

Electronic Package

- Voice-activated Navigation System with SIRIUS Travel Link™ (Includes 6-month Complimentary Subscription)

- Dual-zone Electronic Automatic Temperature Control

Comfort Package

    - 6-way Power Passenger Seat

    - Heated Front Seats

    - Auto-dimming Rearview Mirror with Compass

Security Package

- Active Anti-theft System

- Wheel Locking Kit

    - 18-inch Painted Aluminum Wheels

    - HID (High-Intensity Discharge) Headlamps, Late Availability

    - Glass Roof

    - Convertible Boot

    - Tape Stripe Delete

    - Reverse Camera System

Standard Equipment on GT:

Powertrain/Functional

    - 4.6-liter V-8 Engine

    - 5-speed Manual Transmission

    - Brakes – Power with 4-wheel vented discs

    - Remote Keyless Entry

    - Rear Window Defroster

    - Engine Cover

    - Easy Fuel™ Capless Fuel Fuller

Exterior

    - LED Sequential Tail Lamps

    - 18-inch Wide Spoke Painted Aluminum Wheels

    - Black Chrome Pony in Grille

    - Auto Headlamps

    - Rear Spoiler

    - Fog Lamps

    - Dual Bright Rolled Exhaust Tips

    - Mirrors – Body Color, Dual Power

    - Rear Quarter Panel Mounted AM/FM Antenna

Interior

    - Air Conditioning – Manual

    - Audio – Premium AM/FM stereo w/ Single CD & Clock

    - Audio Input Jack

    - Console – Full armrest with locking storage

    - Two covered cupholders

    - Footrest – Driver

    - Instrument Cluster – Chrome accent four-gauge cluster and register vents

    - Lamps – Center High Mounted Dome (Coupe Only)

    - Lighted Bezel (Convertible Only)

    - Power Points (2)

    - Seats – Cloth Bucket, 2-way Manual Passenger, 4-way Manual Driver

    - Steering Wheel – tilt w/ speed control

    - Windows/Locks – Power 1-touch Up/Down Driver and Passenger Windows

    - Interior Trunk Release

Safety & Security

    - Dual Front Air Bags

    - Driver/Passenger Side Impact Airbags

    - Tire Pressure Monitoring System (TPMS)

    - LATCH (Lower Anchors & Tethers for Children) System

    - SecuriLock® Passive Anti-Theft (PATS)

    - Personal Safety System for Driver and front Passenger

    - Advance Trac® with Electronic Stability Control® (ESC)

    - SOS Post Crash Alert System

Optional Equipment on GT:

    - Security Package

          o Active Anti-Theft

          o Wheel Locking Kit

    - 3.73 Rear Axle Package (GT Coupe with Manual Transmission only)

          o Performance 3.73 Axle Ratio

          o Dual Piston Front Calipers with Performance Brake Pads

          o Recalibrated Electronic Stability Control® (ESC)

Optional Equipment on GT Premium:

    - Security Package

          o Active Anti-Theft

          o Wheel Locking Kit

    - Comfort Package

          o 6-Way Power Passenger Seat

          o Heated Front Seats

          o Auto-dimming Mirror with Compass

    - Electronics Package

          o Voice Activated Navigation

          o SIRIUS® Travel Link™ with complimentary 6-month subscription (N/A in AK & HI)

          o Dual Zone Automatic Temperature Control

3.55 Rear Axle (GT Premium Coupe with Manual Transmission only)

3.73 Rear Axle Package (GT Coupe with Manual Transmission only)

    - Performance 3.73 Axle Ratio

    - Dual Piston Front Calipers with Performance Brake Pads

    - Recalibrated Electronic Stability Control® (ESC)

    - 18-inch Polished Aluminum Wheels

    - 19-inch Bright Machined Aluminum Wheels

    - 19-inch Premium Painted Luster Nickel Aluminum Wheels

    - Spoiler Delete

    - Rear Video Camera (Requires Decklid Spoiler)

    - HID Headlamps (Late Availability)

    - Req. Security Package, N/A with Daytime Running Lights

    - Glass Roof (N/A with Stone Interior)

    - Shaker 1000 (N/A with Electronics Package)

Standard Equipment on Shelby GT500:

Mechanical

    - Brakes – Power 4-wheel discs with ABS (Brembo four-piston Front Calipers)

    - Engine – 5.4-liter Supercharged 4V V8 w/cold-air intake system and low restriction exhaust

    - Transmission – Tremec 6-speed Manual w/3.55 rear axle ratio

Safety & Security

    - Personal Safety System™ (seat belt pre-tensioners, load limiting retractors, dual stage front air bags, driver seat position sensing & crash severity sensing)

    - AdvanceTrac® Electronic Stability Control

    - Airbags – Dual Stage Front

    - Airbags – Side Impact

    - Keyless Entry – Remote

    - LATCH (Lower Anchors & Tethers for Children) system

    - Lighting – Illuminated Entry

    - Anti-Theft Perimeter Alarm (incl. perimeter inclination & intrusion alarms)

    - SecuriLock® Passive Anti-Theft (PATS)

    - Tire Pressure Monitoring System (TPMS)

    - Advance Trac® Electronic Stability Control® (ESC)

Exterior

    - Badges – “Shelby GT500” badging on faux gas cap & “SHELBY” badging on rear decklid

    - Exhaust – Dual Stainless Steel with 4-inch Tips

    - Headlamps – Quad Reflector w/integral park/turn lamps

    - Hood – Aluminum hood (w/ large single heat extractor)

    - Fog lamps

    - Power Mirrors

    - Over-the-top “racing stripes” and “GT500” side stripes

    - Rear Spoiler – SHELBY rear decklid

    - 18 X 9.5-inch Aluminum Wheels with Goodyear Eagle F1 Supercar Tires (P255/45ZR18 Front & 285/40ZR18 Rear ) Convertible Only

    - 19 X 9.5-inch Aluminum Wheels with Goodyear Eagle F1 Supercar Tires (P255/40ZR19 Front & P285/35ZR19 Rear) Coupe Only

Interior

    - Center Console – Armrest with Locking Storage

    - Climate Control – Manual

    - Two Covered Cupholders

    - Door Locks – Power

    - Floor Mats – 1st Row w/ Silver perimeter stitching and “GT500″ embroidered logo

    - Lighting – Ambient Lighting w/MyColor™ 125 color gauge backlighting

    - Seats – Leather sport buckets w/ racing stripes coordinated to exterior stripes and Alcantera® accents. Also 6-way Power Driver’s Seats with Power Lumbar and adjustable headrest

    - Steering Wheel – Tilt Leather and Alcantera® w/ Unique Thumb Pads

    - Windows – Power, Driver & Passenger Global Open Controls

    - Shifter – Short-throw with unique Q-ball shift knob

Functional

    - Shaker 500 System with 8 speakers (AM/FM Stereo/CDx6 MP3 Capable) & Audio Input Jack

    - Ford SYNC™

    - SIRIUS® Satellite Radio

    - Cruise Control

    - Easy Fill Capless Fuel Filler

    - Auto Headlamps

    - Instrument Cluster: 6 gauge instrument cluster SVT graphics; brushed aluminum accent cluster and air registers. Also includes message center with compass

    - Pedals: Bright Clutch, Brake and Accelerator

    - 2 Power Points

    - Interior Trunk Release

    - Rear Window Defroster

Optional Equipment on Shelby GT500:

    - Voice Activated Navigation – Dual Zone Automatic

    - Temperature Control – Integrated audio and data

    - Satellite radio – Park & Play (plays/reads audio and video discs) – Music Jukebox (CD “ripping” capability)

    - Shaker 1000 Audio System – AM/FM Stereo w/In-Dash CDx6, MP3 & 10-Speakers (Not available with

    - HID Headlamps (late availability)

    - Tape Stripes Delete – Top and side stripe delete

    - Weathershield Full Vehicle Cover, w/Shelby Script & Cobra Logo

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General Motors may sell its Saab and Opel stake

2009-02-19T15:03:00.013-08:00

General Motors may sell its stake in Opel and could also abandon Swedish brand Saab in efforts to cut costs and increase cash to avoid bankruptcy. GM’s European division issued a statement Wednesday saying that they are working to reduce costs without having to close any plants. The group said that it is looking for [...]

GM Europe President Carl-Peter Forster said that executives are also considering third-party alliances and equity stakes.

In its long-term viability plan submitted to the U.S. Treasury on Tuesday, GM said that it will cut 47,000 jobs worldwide, 26,000 of those will be from foreign operations. In the latest figures, GM said that its European division lost $1 billion in the third quarter.

In other news, Automotive News Europe reports that GM has no plans to shut its Opel factories in Germany. It said that it expects Saab and Opel to post profit in 2011.

Source: Detroit News

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BRABUS G V12 S Biturbo rolling into Geneva with 700-hp

2009-02-19T15:03:00.011-08:00

While most exhibitors at the 2009 Geneva Motor Show will be showing off fuel-efficient vehicles, BRABUS will continue its high-performance tuning by introducing the new BRABUS G V12 S Biturbo. Based on the Mercedes-Benz G-Class, the BRABUS G V12 S is powered by the tuners SV12 S displacement engine.
The gives the G-Class a whopping 700-hp [...]

The gives the G-Class a whopping 700-hp (690-hp) with a maximum torque of 973 lb-ft. That will give the BRABUS G V12 S the ability to go from 0 to 62 mph in just 4.3 seconds with a top speed that can reach up to 163 mph. Performance is further enhanced by a comfortable custom suspension.

Appearance wise the BRABUS G V12 S gets a new front apron with its LED daytime running lights below the main headlights, a new rear bumper, a bunch of interior modifications and Monoblock light-alloy wheels ranging from 20 to 22 inches.

Follow the jump for the press release and the high-res image gallery.

BRABUS G V12 S Biturbo:

Press Release:

World Debut at the Geneva Motor Show 2009

- The World’s Most Powerful Off-Roader

- BRABUS G V12 S Biturbo with 700 hp (690 bhp) / 515 kW and 1,320 Nm (973 lb-ft)

BRABUS G V12 S Biturbo: The world’s most powerful off-roader comes from BRABUS (Brabus-Allee, D-46240 Bottrop, phone + 49 / (0) 2041 / 777-0, fax + 49 / (0) 2041 / 777 111, Internet www.brabus.com). It is built by hand based on the latest Mercedes G-Class. The exclusive five-door is powered by a BRABUS SV12 S displacement engine. Like all special models of BRABUS - recognized by the German Vehicle Registration Agency as a vehicle manufacturer - the BRABUS G V12 S Biturbo comes with a comprehensive luxury package. The ultra-powerful 4×4 starts at 379,000 Euros.

The BRABUS SV12 S engine is based on the V12 Biturbo engine from the latest Mercedes S 600. Before being implanted in the engine bay of the G-Class, displacement of the three-valve engine is increased from 5.5 to 6.3 liters (336 to 384 cubic inches) using a special crankshaft with longer stroke, larger cylinders and larger bore. In addition, the cylinder heads are re-machined and fitted with special camshafts.

The engine peripherals were upgraded with larger turbochargers, an optimized intercooling system and a stainless-steel high-performance exhaust system with free-flow metal catalysts. The exahust was custom-developed for the G-Class and features dual chrome-plated tailpipes that exit in front of the rear wheels on the left and right side. New precision mapping for the engine electronics coordinate the perfect interaction of all new components. The results are an exemplary smooth-running engine and maximum power yield while meeting the strict limits set by the EURO IV emission norm.

In the G-Class the BRABUS S V12 S displacement engine produces 700 hp (690 bhp) / 515 kW at 5,100 rpm. The turbocharged twelve-cylinder engine delivers its peak torque of 1,320 Nm (973 lb-ft) at 2,100 rpm. In the car, the peak torque is electronically limited to 1,100 Nm (811 lb-ft).

The BRABUS G V12 S Biturbo offers acceleration performance almost unimaginable for a true off-roader: Combined with a special five-speed automatic transmission and permanent four-wheel drive the exclusive SUV catapults itself from rest to 100 km/h (62 mph) in just 4.3 seconds. Top speed is limited electronically to 240 km/h (150 mph). Without the self-imposed limit the high-tech G-Class model could reach 260 km/h (163 mph).

This superior performance necessitates the use of custom-tailored BRABUS Monoblock wheels. Below the subtle fender flares is room for Monoblock light-alloy wheels with diameters between 20 and 22 inches, mounted with high-performance tires from Pirelli or YOKOHAMA. The forged BRABUS Monoblock VI 10.5Jx21 light-alloys are shod with size 295/40 R 21 tires front and back. BRABUS offers a wide selection of ten-inch wide wheels in the five different Monoblock VI, E, G, Q and S designs with a diameter of 22 inches.

For optimal handling BRABUS equips the special model G V12 S Biturbo with a comfortable custom suspension. To keep the incredible performance safely in check at all times the BRABUS high-performance brake system comes standard.

The body of the BRABUS G V12 S Biturbo is distinguished by sporty yet elegant aerodynamic-enhancement components. The BRABUS front apron with its LED daytime running lights below the main headlights lends the 4×4 an even more striking face. The rear is customized with the BRABUS rear bumper.

The BRABUS designers have developed special caps for the standard running boards of the Mercedes G-Class. They add some visual pizzazz to the G-Class and for added practicality feature integrated LED lights activated by the key fob or by opening a door. They illuminate the running boards in the dark.

The custom interior of the BRABUS G V12 S Biturbo is highly exclusive as well: It includes an ergonomically shaped sport steering wheel, a speedometer with 280-km/h scale (175 mph), stainless-steel scuff plates with illuminated BRABUS logo and a handcrafted BRABUS fully leather interior made from especially soft and breathable BRABUS Mastik leather.

Upon customer request BRABUS transforms the SUV into fully functional all-terrain office on wheels or can integrate a custom-tailored high-tech multimedia system with state-of-the-art communication technology, DVD changer, DVBT TV tuner, game console and eight-inch LCD screens in the back of the front headrests. The sound in the rear compartment is reproduced by infrared headphones.

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Hyundai i20 3-Door teaser and details released

2009-02-19T15:03:00.009-08:00

Hyundai has revealed the first images of its new Hyundai i20 3-door ahead of its official world premiere at the 2009 Geneva Motor Show. The 5-door i20 made its debut at the 2008 Paris Motor Show in Oct. 2008. Hyundai says that the i20 3-door will fit between the i10 and i30 models with prices [...]

The Hyundai i20 3-door is built on the same 2.525mm wheelbase as the 5-door and weighs just 10-kilogarams less. Hyundai says that the car will be spacious enough to accommodate adults in the front and rear seats.

Hyundai expects i20 buyers to make the 1.2L petrol engine, known as ‘Kappa’, the best-selling powertrain in the range. The unit produces 78- hp and a peak torque of 88 lb-ft.

Hyundai i20 3-Door:

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Chrysler says GM merger could be best option for survival

2009-02-19T15:03:00.007-08:00

In its restructuring plan submitted to the Treasury late Tuesday, Chrysler LLC said that it believes that the “best option for the U.S. auto industry” would be a GM/Chrysler merger. Chrysler, which is also pursuing an alliance with Fiat SpA, said that consolidation among U.S. automakers and their brands is a strong way to sustain the auto [...]

Chrysler’s restructuring plan called for an additional $2 billion loan on top of its $7 billion loan request. General Motors, which asked the U.S. Treasury for an additional $16.6 billion, did not express any hint of its interest in merging with Chrysler.

Chrysler said it has had discussions about a possible merger, but the talks were taken off the table by GM. The Auburn Hills automaker made it clear that savings from a GM/Chrysler merger would be at least five times more than Fiat deal. It said that a merger between the two automakers would generate at least $36 billion in cash and boost operating earnings by $40 billion.

However, let’s not forget that a GM/Chrysler merger would cost about 35,000 jobs, including as many as 25,000 jobs in Michigan alone. Not to mention GM has shown no interest in a possible merger with another automaker as it looks to cut down brands.

In their plans submitted to the U.S. Treasury, GM said it is looking to cut 47,000 jobs worldwide by the end of this year while Chrysler plans to cut 3,000.

Source: Detroit Free Press

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2010 Hyundai Equus interior images hit the web

2009-02-19T15:03:00.005-08:00

Two days ago, the first batch of 2010 Hyundai Equus images were “leaked” on the internet. Today, images of the interior of the new large luxury Hyundai sedan were released (unintentionally or intentionally - who really cares?).
From the inside, the 2010 Equus can be easily mistaken for a Japanese luxury car. You can also see [...]

From the inside, the 2010 Equus can be easily mistaken for a Japanese luxury car. You can also see a BMW iDrive-like control on the center console along with an Infiniti style analog clock. It seems like the Equus will be a four-seater sedan since the center console runs all the way through the rear seats.

The 2010 Hyundai Equus will make its debut at the 2009 Geneva Motor Show on March 3 - the same day it goes on sale in Korea. Engine choices are expected to be a 290-hp 3.8L V6 and a 368-hp 4.6L V8.

Click through for more pictures.

2010 Hyundai Equus:

Source: Hyundai Blog

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Mitsubishi to end Raider deal with Chrysler after 2010 model year

2009-02-19T15:03:00.003-08:00

The Mitsubishi Raider’s lifespan may come to an end. The Japanese automaker said yesterday that it doesn’t plan on renewing its contract with Chrysler LLC to build its Raider pickup beyond the 2010 model year. It said there are currently no plans for a replacement for the compact pickup.
The Mitsubishi Raider is built at Chrysler’s [...]

The Mitsubishi Raider is built at Chrysler’s Warren Truck plant, which builds version of the Dodge Ram full-sized pickup and the Dodge Dakota compact pickup. The plant employs more than 1,400 workers. According to a Chrysler spokesman, Mitsubishi’s decision doesn’t affect the operations or the workers at the plant.

Mitsubishi said that sales of the Raider fell to 2,935 last year, down 64 percent from 2007. Mitsubishi remains a key partner along with Hyundai and Chrysler for a new 4-cylinder engine plant in Dundee.

Source: Detroit Free Press

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Hyundai ix-onic Concept coming to Geneva

2009-02-19T15:03:00.001-08:00

Hyundai has dropped the details and images of its ix-onic (pronounced “ik-sonnik) concept car that will make its world debut at the 79th Geneva Motor Show. Hyundai says that the concept introduces a new look for a future compact four-wheel-drive SUV. The concept was earlier introduces as the HED-6.
Hyundai will also be introducing a new [...]

Hyundai will also be introducing a new powertrain under the hood of ix-onic concept car. The engine is a 1.6 GDi 4-cylinder turbocharged gasoline unit that produces 168-hp mated to ISG (Idle Stop & Go) technology and a double-clutch 6-speed transmission.

Hyundai says that the four-wheel-drive system of the ix-onic has been fined tuned to deliver on-road driving dynamics and off-road capability. More details to come early next month. Stay tuned.

Hyundai ix-onic Concept:

Press Release:

The sensational all-new Hyundai ix-onic concept car, which makes its world premiere at the 79th Salon International de L’Automobile in Geneva, introduces a whole new look for a compact four-wheel-drive SUV.

Assertive, but not aggressive, the ix-onic (pronounced “ik-sonnik”) combines dynamic, sculpted, performance-oriented styling with an environmentally-friendly power train and thoughtful everyday utility, to create a vehicle that will change the way consumers and especially younger car buyers think about compact crossover vehicles.

Hyundai’s design team in Rüsselsheim, Germany views ix-onic as an ‘urban nomad, a car of contrasts for a world of contrasts’. Created in Europe, with European consumers in mind, the new concept is inspired by multi-cultural personalities of cities like Berlin, Paris and London. The ix-onic is tough and compact for life in the city, but sleek and agile for out-of-town travel.

The ix-onic’s specially developed, high-contrast exterior paint emphasises its dynamic and flowing lines. Employing an advanced-effect pigment, the innovative paint gives the car’s skin a brilliant shine.

With an overall length of 4.400 mm, the 1.850 mm wide and 1.650 mm tall ix-onic has a great stance and road presence. The design team fused a light, elegant and sporty upper body, with belt lines flowing off both the front and rear wheel arches, to a tough, planted lower body so that the concept is assertive in the way it sits on the road.

Key attributes of Hyundai’s ‘dynamic sculpture’ design philosophy are the athleticism and sophistication that ix-onic demonstrates through its dynamic and flowing lines, full surfaces and muscular presence. This athletic design language is highlighted by bold, dynamic graphic elements such as the hexagonal front grille, the dramatically swept back headlamps, the split belt-line and the third side window kick-up.

LED Daytime Running Lights boost brand identity

The hexagonal grille is a further evolution of the style introduced on the 2006 Genus concept car and developed for its appearance on the i-mode concept in 2008. The headlamps feature innovative LED daytime running lights (DRL) which are becoming an increasingly important element of brand identity. For the innovative ix-onic, part of the DRL moves down whenever ‘dipped beam’ is switched on, and DRL are also fitted to the door mirror housings.

The profile of ix-onic features a dynamic greenhouse and a sports car-like theme with a muscular, double-zigzag treatment for the wheel arches that wrap around the 21 inch polished alloy wheels. Unusually, the concave sills have a wedge-shaped profile which extends rearwards and wraps around into the rear bumper. The sills and bumper are finished in a contrasting colour, with an aluminium garnish that echoes the aluminium trim in the door handles to enhance the perception of premium quality.

With high-mounted tail lamps, multi-surfaced glass and a sculpted bumper, the rear of ix-onic also incorporates ‘dynamic design’ elements. The rear lamp clusters feature a grille mesh inspired by the nature, while the rear bumper also neatly incorporates the dual, polished aluminium exhaust tailpipes.

The rear window has been designed and produced by Hyundai in close cooperation with the QarmaQ-partner SABIC Innovative Plastics. Using Lexan high-performance plastics instead of conventional glass enabled the designers to give the rear window a much more three-dimensional shape. On each side of the rear window two vertical spoilers are integrated to reduce aerodynamic drag. The upper part of the window features a strongly concave shape to make it possible to integrate the roof spoiler in the rear window. Additionally, “Exatec- glazing” was used to incorporate the third stoplight in the upper part of the rear window. Furthermore, a three-dimensional U-shape surrounds the rear wiper to enhance its visual integration into the backlight.

Light and fresh interior seats five in luxurious comfort

Inside, the five-seater ix-onic offers a commanding view of the road and evokes an adventurous ambience that is also laid-back and relaxing. The needs of the driver are fully accommodated, with the interior blending aspects of the outdoors, leisure time and an urban lifestyle.

The first impression of a sporty, light and fresh interior is reinforced on closer inspection by the silky cream-white leather that brings an air of elegance and distinction to the cabin.

An X-shaped visual theme is repeated across numerous areas of the cabin, with embossed leather to accentuate key areas while light-alloy magnesium accents provide flashes of visual brilliance. The sleek shapes of the interior are outlined with ‘ice blue’ seams that replicate the colour of both the ribbed ice blue floor carpet, which contains a high percentage of natural cashmere wool, and the exterior.

Shapely seats feature centre panels trimmed in breathable fabric with attractive and functional cushion side bolsters, plus additional lateral support for occupants’ shoulders – all trimmed in contrasting magnesium grey.

Mounted much higher than usual in the doors, the audio speakers present occupants with a true and highly detailed, top-quality sound reproduction. The interior rear-view mirror has a ‘blind spot’ warning light that alerts the driver to other road users in close proximity.

All-new power train ensures performance lives up to appearance

Beneath its sensational exterior, the ix-onic’s power train is equipped with a 125 kW, 1.6 litre GDi turbocharged, four-cylinder petrol engine, with ISG (Idle Stop & Go) technology and a double-clutch six-speed transmission. Power is transferred to the road by an intelligent four-wheel-drive system fine-tuned to deliver outstanding on-road driving dynamics, together with significant off-road ability. The next-generation, eco-friendly engine emits just 149 g/km of CO2, an impressive figure for an SUV.

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Which four-year-old cars retain the best value?

2009-02-19T14:42:00.003-08:00

The Canadian Black Book has revealed the passenger cars and trucks under $70,000 that retain the highest value after four years. It goes without saying that the Canadian Black Book evaluated the residual value of 2005 model years.

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GM explains its restructuring plan

2009-02-19T14:42:00.001-08:00

The day after General Motors presented it restructuring plan, the American giant held an international press conference, broadcast over the Internet, to review the situation before the media's main financial analysts.

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Video: Transformers: Revenge of the Fallen Trailer no.2

2009-02-19T05:25:00.005-08:00

You’ve seen the first trailer for the Transformers sequel during Super Bowl XLIII; you’ve also seen an 18-inch Bumblebee being erected for the 2009 Chicago Motor Show; and recently you saw the Autobots take over Windy City.
Today, we bring you trailer no.2 of Transformers: Revenge of the Fallen. For those of you that drive down the highway [...]

You’ve seen the first trailer for the Transformers sequel during Super Bowl XLIII; you’ve also seen an 18-inch Bumblebee being erected for the 2009 Chicago Motor Show; and recently you saw the Autobots take over Windy City.

Today, we bring you trailer no.2 of Transformers: Revenge of the Fallen. For those of you that drive down the highway in the truck lanes and pretend Optimus Prime and the other Autobots are following you, mark your calendars for June 24th.

Follow the jump for the trailer (which is available in HD).

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Rolls-Royce 200EX (baby Phantom) teaser released

2009-02-19T05:25:00.003-08:00

A teaser image of the new “baby Phantom” - aka RR4, Silver Ghost and now the 200 EX - has popped up online before the concepts Geneva Motor Show debut during the first week of March.
The image shown above is a cropped image of the front of the car that doesn’t give a way too much detail [...]

A teaser image of the new “baby Phantom” - aka RR4, Silver Ghost and now the 200 EX - has popped up online before the concepts Geneva Motor Show debut during the first week of March.

The image shown above is a cropped image of the front of the car that doesn’t give a way too much detail and resembles the current Rolls-Royce lineup’s front fascia. A production version of the Rolls-Royce 200 EX concept will make its debut in the first quarter of 2009.

Power is expected to come from a 12-cylinder engine which is rumored to produce upwards of 550-hp. We’ll get more details early next month so stay tuned.

Rolls-Royce 200EX (RR4) Design Sketches:

Source: speed-press (via WCF)

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GM disbands high-performance vehicle unit

2009-02-19T05:25:00.001-08:00

General Motors said today that it has disbanded (for those of you wondering, disbanded means to dissolve or break up a group and move it into different directions) its High Performance Vehicle Operations. It said that while GM focuses on mainstream products to survive, it has put all high-performance projects on hold.
The Detroit automaker said [...]

The Detroit automaker said that “the engineers are moving into different areas of the organization, and they will work on Cadillacs, Buicks, Chevrolets and Pontiacs.”

The High Performance Vehicle Operations has created low-volume vehicles for GM with products including V-series Cadillacs, Chevrolet Cobalt SS, HHR SS and a V8 version of the Colorado.

GM spokesman Vince Mungia said that there are no plans for high-performance versions of upcoming cars. He said that the High Performance Vehicle Operations could be reinstated once GM regains its financial health.

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Videos: 2010 Mercedes-Benz E-Class Coupe in Action

2009-02-18T22:17:00.001-08:00

Yesterday, Mercedes-Benz unveiled the 2010 Mercedes-Benz E-Class Coupe prior to the car’s Geneva Motor Show debut. Today, we have videos showing the new Mercedes-Benz car in action. The first video is a promotional video showing a lady looking at the E-Class Coupe - but she never gets in (we didn’t get it either). However, the [...]

The 2010 Mercedes-Benz E-Class Coupe will make its stateside debut at the 2009 New York Auto Show. Initially, Mercedes-Benz will offer the U.S. market the 292-hp V6 E 350 CGI BlueEFFICIENCY Coupe and the 388-hp E 500 Coupe - other models may follow.

Check out our original 2010 Mercedes-Benz E-Class Coupe post for more details.

Make the jump for the videos.

2010 Mercedes-Benz E-Class Coupe:

2010 Mercedes-Benz E-Class Coupe Trailer:

2010 Mercedes-Benz E-Class Coupe in Action:

2010 Mercedes-Benz E-Class Coupe:

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Ford unveils new ‘beefed-up’ 6F-55 6-speed SelectShift for EcoBoost lineup

2009-02-18T14:49:00.015-08:00

Ford announced today that its new 3.5L EcoBoost V6 engine will debut with a “beefed-up” 6-speed SelectShift automatic transmission that is “designed for higher torque demands of the all-new twin-turbocharged, direct injection engine.”
Based on the new 6F-50 transmission, the 6F-55 is dedicated to the 3.5L EcoBoost lineup. To guarantee every drop of torque produced by the [...]

Based on the new 6F-50 transmission, the 6F-55 is dedicated to the 3.5L EcoBoost lineup. To guarantee every drop of torque produced by the turbocharged V6 EcoBoost, the ring gear on the 6F-55 transmission is a beefier 41.5 mm versus 31.5 mm on the 6F-50.

The 3.5L V6 EcoBoost produces 355-hp (365-hp on the 2010 Taurus SHO) with a maximum torque of 350 lb-ft. The new engine mated to the 6-speed SelectShift 6F-55 transmission will first be made available on the 2010 Lincoln MKS due out later this summer. It will also be available on the new 2010 Lincoln MKT, 2010 Ford Flex and the 2010 Ford Taurus SHO.

Follow the jump for the press release for more details.

Press Release:

BEEFED-UP SIX-SPEED TRANSMISSION MEETS HIGH-TORQUE DEMANDS OF 3.5-LITER ECOBOOST ENGINE

DEARBORN, Mich., Feb. 18, 2009 – Ford’s 3.5-liter EcoBoost V-6 engine debuts this spring with the perfect running mate for maximum performance and fuel efficiency – a six-speed SelectShift automatic transmission that’s specifically designed for the higher torque demands of the all-new twin-turbocharged, direct injection engine.

Developed from the successful 6F-50 transmission, the 6F-55 is dedicated solely to the 3.5-liter EcoBoost engine and incorporates a number of component and calibration upgrades that help guarantee every drop of torque produced by the turbocharged V-6 is seamlessly transmitted, giving customers that V-8-like performance they love, as well as the fuel economy they demand.

“Adapting the 6F architecture to the EcoBoost engine demanded a close look at every component, piece of hardware, and calibration measure to ensure that this transmission could answer the needs of a higher output engine; help, not hinder, fuel economy; and meet Ford’s strict durability standards,” said Barb Samardzich, vice president, Global Powertrain Engineering.

The engine/transmission combination is already proving its muster. The 2010 Lincoln MKS, the first Ford Motor Company vehicle to offer the 3.5-liter EcoBoost engine and 6F-55 transmission package, will deliver an impressive 355 horsepower and a responsive 350 ft.-lbs. of torque, along with achieving 25 mpg on the highway.

That’s more power and better highway fuel economy than the V-8 engine found in the 2009 Lexus GS460 (24 mpg) or the 2009 Inifiniti M45 (21 mpg). The recently announced return of the 2010 Ford Taurus SHO also will sport the EcoBoost V-6 and the six-speed SelectShift transmission, delivering an estimated 365 horsepower at 5,500 rpm and 350 ft.-lbs. of torque at 3,500 rpm, while maintaining fuel economy ratings on par with a V-6 engine.

Other 2010 products set to offer this powertrain combination include the Ford Flex and Lincoln MKT.

High Torque Edits

The 3.5-liter EcoBoost engine strategically uses two small turbochargers, which are quick to respond to throttle inputs, spooling up instantly for torque output that’s impressive – peaking earlier in the rev range than a comparable, normally aspirated engine. The turbo system does, however, run at higher temperatures.

In order to handle the elevated operating temperatures associated with a turbocharged engine and carry the higher torque produced by the 3.5-liter EcoBoost V-6, the 6F-55 incorporates a blend of hardware, material and calibration upgrades.

The transmission features, for example, wider, thicker transfer and final drive gears, improved input and output carriers, and a new differential case to carry the higher energy produced by the engine and deliver the performance customers expect when they accelerate. The ring gear on the 6F-55, for instance, is a beefier 41.5 mm versus 31.5 mm on the 6F-50.

Final drive ratios have been adjusted and matched to gear ratios to provide optimum performance and fuel economy. Clutches also have been upgraded with high-energy friction materials that can handle higher loads and shift energies over the long term. In addition, clutch piston material upgrades can withstand higher operating temperatures. This, along with thicker thrust washers, and an improved heat treatment on the turbine shaft help handle the higher engine torque.

“We had to bulk up and strengthen all of the transmission’s core parts for higher duty cycles,” said David Capoccia, transmission system manager, Ford Powertrain Operations. “The thicker gears, the improved carriers, upgraded clutches are all part of a set of hardware actions that translate to superior performance and durability for the customer.”

The 6F-55’s torque converter was also tweaked to improve drivability and create a more connected feel for customers. The converter even has its own exclusive efficiency curve and design for increased strength and durability, bolstered by four lugs welded on the cover in comparison to three on the 6F-50.

A second roll restrictor boss, which limits powertrain movement during acceleration, was also added to the Lincoln MKS and MKT EcoBoost transmission packages for superior noise, vibration and harshness (NVH) and a smooth, seamless acceleration experience.

Fuel Economy Factors

The 6F-55 may be bigger and stronger, but it is not less efficient, according to Capoccia. Several of the transmission upgrades actually help improve fuel efficiency. They include:

    - Friction material grooves, which break up the fluid flow between the friction and separator plates and help pump fluid through the plates, have been optimized to reduce overall clutch drag losses.

    - Moving from a six to a nine wave CBLR (Clutch Brake Low Reverse) spring – which aids in mechanically separating the clutch plates – provides a flow path for the fluid that reduces overall clutch drag losses.

    - Calibration measures, such as reducing the modulated slip from 40 rpm to 20 rpm allows less fuel to be burned to deliver the same torque to the wheels; and locking up the torque converter in lower gears to expand the operating range and provide optimum fuel efficiency.

    - Increasing the start-to-open temperature of the bypass valve by 15 degrees, which allows the transmission to run at higher, more efficient temperatures and save fuel.

A High-Volume Commitment

The addition of the 6F-55 builds on the reputation of Ford’s 6F transmission architecture.

And like the 6F-50, the 6F-55 offers customers all the benefits associated with an advanced six-speed gearbox, including superior shift quality, improved acceleration, a more refined driving experience and improved fuel economy. In addition, the SelectShift feature allows the customer to choose gears for a more spirited drive.

“The 6F-55 has all the same features that customers have told us they desire from the 6F-50 transmission, and that includes fluid-fill for life and flat tow capability,” adds Bryce Bollwahn, a systems supervisor at Ford’s Automatic Transmission New Product Center.

Going forward, advanced six-speed transmissions, along with EcoBoost engine technology, will continue to dominate Ford’s sustainability strategy. By the end of 2012, nearly 100 percent of Ford’s North American transmissions will be advanced six-speed gearboxes. By 2013, more than 90 percent of Ford’s North American vehicle lineup will offer EcoBoost technology.

The 6F-55 is produced at Ford’s Van Dyke Transmission Plant in Sterling Heights, Mich., which also produces the 6F-50 and 6F-35. The Van Dyke plant is one of three Ford six-speed transmission Centers of Excellence.

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Alfa Romeo MiTo GTA Concept teaser released before Geneva debut

2009-02-18T14:49:00.013-08:00

The folks at alfamitoblog.it, the official Alfa Romeo MiTo blog, have dropped a teaser for the upcoming Alfa Romeo MiTo GTA Concept that will be unveiled at the 2009 Geneva Motor Show. Nothing really special here as the image only shows the engine cover but it should get you MiTo fans a little excited for [...]

It has been previously reported that the Alfa Romeo MiTo GTA will feature a 1.8L turbocharged engine that will produce a total of 240-hp.

Although Alfa will show the MiTo GTA in concept form in Geneva, the car is expected to be not to far off from the production version that will arrive later this year.

Alfa Romeo MiTo:

Source: alfamitoblog.it

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GM planning 2 new vehciles based on Chevy Volt technology

2009-02-18T14:49:00.011-08:00

In its long-term viability restructuring plan submitted to the U.S. Treasury on Tuesday, General Motors said that it plans on adding two additional models based on the Chevrolet Volt’s electric-drive system.
GM didn’t go into specifics but said that it is investing “significantly in hybrid and plug-in vehicles.” it plans on increasing the number of plug-in [...]

GM didn’t go into specifics but said that it is investing “significantly in hybrid and plug-in vehicles.” it plans on increasing the number of plug-in hybrids to 14 in 2012 and 26 by 2014. “The Chevrolet Volt is included in this count, as are two additional models sharing the Volt‘s extended range electric vehicle (EREV) technology,” GM said.

The 2011 Chevrolet Volt is expected to hit the market late next year. GM said that while development costs on a vehicle like the Volt are high, it will allow for long-term benefits and increased efficiency for consumers.

So far, we know that GM will unveil the Opel Ampera, which is based on the Volt, at the 2009 Geneva Motor Show.

2011 Chevrolet Volt:

Source: Detroit Free Press

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Aston Martin to unveil Lagonda brand and concept in Geneva

2009-02-18T14:49:00.009-08:00

Aston Martin will be unveiling its new Lagonda brand at the 2009 Geneva Motor Show with a new secret concept. Will it be an SUV? A large sedan taking on the Mercedes-Benz S-Class? Or will it be a hybrid concept? We’ll find out early next month.
Aston Martin’s CEO Dr. Ulrich Bez has previously said that [...]

Aston Martin’s CEO Dr. Ulrich Bez has previously said that a production Lagonda will hit the market as early as 2012. He said that Lagonda will allow Aston to “develop cars which can have a different character than a sportscar.”

We’ll have more info at the 2009 Geneva Motor Show on March 3rd. Stay tuned.

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Chrysler doing all it can to cut costs, takes down clocks at headquarters

2009-02-18T14:49:00.007-08:00

For those taxpayers that are totally against Chrysler receiving loan money, it might be pleasing to read that the company is doing all it can to cut costs at its Auburn Hills headquarters.
So far Chrysler has taken down most of the clocks at its headquarters to save an estimated $20,000 dollars. It has also stopped plowing [...]

For those taxpayers that are totally against Chrysler receiving loan money, it might be pleasing to read that the company is doing all it can to cut costs at its Auburn Hills headquarters.

So far Chrysler has taken down most of the clocks at its headquarters to save an estimated $20,000 dollars. It has also stopped plowing the top floor of five parking decks to save more than $350,000 during this winter.

Other cost saving measures being taken include the removal of 40,000 of the 80,000 lightbulbs at its complex to save $400,000 a year; cutting spending on Christmas decoration by at least $11,000 in 2008; turning down temperature in the hallways from 72 degrees to 68 to save $70,000 a year; and putting 32 pieces of art from its headquarters (a total value of $2.3 million) up for auction.

Chrysler yesterday said that it will need another $2 billion in government loan money to avoid bankruptcy. So far, the Auburn Hills automaker has received a total of $7 billion in bailout money.

Source: Detroit Free Press

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2010 Ford Ranger coming to Geneva, European sales start in April

2009-02-18T14:49:00.005-08:00

While we won’t be getting a new design to the Ford Ranger pickup for the 2010 model year, Ford Motor of Europe will unveil their redesigned 2010 Ford Ranger at the 2009 Geneva Motor Show next month with sales to begin later in April.
Design will be heavily influenced by the Ford Ranger Max Concept seen at [...]

Design will be heavily influenced by the Ford Ranger Max Concept seen at the Thailand International Motor Expo 2008 last year. The new 2010 Ranger will offer seating for up to five passengers with a towing capacity of 3,000kg (6,600 lbs).

The new 2010 Ford Ranger will be made available in three body-configurations and a choice of a 143-hp 2.5L or 156-hp 3.0L TDCi turbo diesel engines mated to a 5-speed manual or a 5-speed automatic transmission.

Make the jump for the press release and the high-res image gallery.

2010 Ford Ranger:

Press Release:

NEW FORD Ranger: READY TO PLAY AS HARD AS IT WORKS

    - Fresh new look for Ford’s popular Ranger pick-up

    - Ranger’s ‘Tough Truck’ capability and seating for up to five offers customers an all-round pick-up well equipped for leisure and the work environment

    - Renowned Ranger driving dynamics and high build quality combine with best-in-class towing capacity

    - New Ranger is available in three body configurations with choice of two fuel-efficient 2.5- and 3.0-litre TDCi turbo diesel engines with five-speed manual or five-speed automatic transmissions

    - New Ranger now also available with automatic transmission paired with the 2.5-litre TDCi engine

    - Distinctive and comprehensive series choice, available as 4×2 or 4×4

    - New Ranger makes its European debut at the Geneva Motor Show

COLOGNE, February 18, 2009 – The new Ford Ranger makes its European debut at the 2009 Geneva Motor Show, combining sleek and modern exterior design with genuine toughness and durability. Ford Ranger plays as hard as it works, both on and off-road.

“The Ford Ranger nameplate is already established in more than 100 markets around the world,” said Henrik Nenzen, Ford of Europe’s Director of Commercial Vehicle Marketing and Sales. “The new

model delivers even more style, comfort and features, making it an ideal choice for a family activity weekend, or a working week.”

Contemporary and sporty new exterior and interior design details make new Ranger a credible lifestyle choice, while its versatility and ‘tough truck’ underpinnings make it a robust and reliable work partner.

Built in Thailand, the new model will arrive in European Ford showrooms from April and is available in a comprehensive choice of model series, from the entry-level XL to the range-topping Wildtrak.

Bold New Ranger Face and Profile

In design terms, the new front styling gives Ranger a sleeker, more modern look, but also shows it means business.

A large horizontal three-bar grille dominates, and is proudly embossed with RANGER lettering. Two black vertical nostrils either side of the grille plus the extended opening below the bumperline and large headlamps that wrap around each front corner create an instantly recognisable design statement. The lower bumper fascia also includes integrated foglamps.

New Ranger’s tough contemporary style is supported by solid, modern engineering. The sweeping, tapered front is more aerodynamic and sweeps rearward at its edges to incorporate Ranger’s bold front wheel arches. This key design detail communicates Ranger’s solid, confident stance and grippy handling character, whether in 4×2 or 4×4 configuration.

Design features influenced by extensive wind tunnel testing also include the door mirrors. Increased in size for better visibility, the mirror’s shape – incorporating the LED turn indicator on Wildtrak – was specifically designed to reduce air turbulence and wind noise.

Ranger is available in three body styles – Single Cab, RAP (Rear Access Panel) Cab and Double Cab. The RAP Cab is a four-door system to provide freer access to the cabin by featuring two forward-hinged doors and two rear-hinged access panels. An innovation first introduced to Ranger in 2002, the RAP Cab provides unobstructed access to the spacious interior for ease of entry and cargo loading and an uncompromised side-impact safety structure that replaces the centre pillar of a traditional double cab. In addition a Chassis Cab version is available on both the

single Cab and RAP Cab.

Contemporary Details

A new black vent at the trailing edge of the front wings is one of the key styling signatures. The vent features detailed recessed meshwork which surrounds a chrome Ranger badge on Wildtrak models or the side-indicator repeater.

Ranger’s large door mirrors incorporate feature details to reflect the series choice. The mirror is moulded in black on the XL, finished with a body colour cap for Ranger XLT models and a chrome-finished cap for Ranger Limited and Wildtrak. The door mirrors on Wildtrak feature a high-intensity LED integral turn indicator. Mirrors pivot for tight clearance areas and all series now benefit from electrically heated mirrors for improved visibility.

Rear bumper finishes give further opportunity to reflect model series, so treatments progress from black on the XL to chrome on the higher series with Park Distance Control additionally featuring on the Limited and Wildtrak models.

Ranger is offered with ten high quality exterior paint choices, five of which are new: Highland Green, Wining Blue, Lagoon Blue, Copper Red and Desert Bronze.

New Ranger also debuts a clear tail lamp design – another contemporary cue – that visually unites the smooth tailgate to the sculpted box side. The clear tail lamps further emphasise the reality of car-like styling and features available in Ford’s pick-up range.

Style, Space, Craftsmanship and Comfort

Despite its tough load lugging and off-road capabilities, the new Ranger’s interior offers car-like comfort and low noise levels, thanks to ergonomically crafted seats, climate control and MP3-compatible audio and a bodyshell engineered to isolate road noise from the cabin.

“Minimising NVH (Noise, Vibration and Harshness) in all of our products is a key target for us,” says Nenzen. “Ranger is no exception to this and the new model is more comfortable than ever.”

All Ranger models offer AM/FM radio and an MP3-compatible CD player as standard. The audio unit features a digital display that incorporates a clock function.

The lower centre console features two integral 12-volt power outlets and – on all models except the entry level XL – an additional AUX input connection for popular audio players, such as an iPod.

Ranger also offers an array of clever stowage solutions, including a centre stack sunglass binnacle, a front door stowage bin capable of accommodating a half-litre bottle and a pull-out sliding tray above the glove compartment.

Extending the width of the passenger side of the dashboard, the slideout tray supports a weight of 10 kilograms and is ideal for use as a work surface for writing or map reading.

Ranger’s large centre console features a two-level design. Its top bin is ideal for accommodating smaller items such as a mobile phone, while its lower bin can house larger objects, including up to 10 CD cases.

Power window and mirror controls are a standard feature in all four Ranger series. The driver’s window has a one-touch down feature and the switch is backlit for better night visibility.

Single cab models feature seating for two, the RAP Cab seats four and the Double Cab seats five. The rear seats in the RAP Cab can be folded up to provide secure storage in the cab rather than using the rear load space.

“The high performance air conditioning system, comprehensive audio features and red illumination of the instrument panel coupled with its bold and updated exterior styling make Ranger a very inviting place to be,” said Henrik Nenzen, “It is also the perfect crossover for business-owners and an increasing number of urban drivers seeking a stylish vehicle that reflects and supports their lifestyle choices.”

Ranger Power and Capability

The new Ford Ranger continues to offer a comprehensive choice of engines, transmissions and drivetrain configurations to meet all customer needs.

Two versions of Ford’s Duratorq TDCi turbo diesel engine lead the powertrain line-up. These responsive common-rail diesel engines are available in either 2.5-litre or 3.0-litre versions.

The diesel engines are available in 4×2 and 4×4 configurations and can be paired with either a five-speed automatic or a five-speed manual transmission.

The 143PS (105kW) 2.5-litre engine is rated at 330Nm and has CO2 emission figures of 227 g/km and 244 g/km respectively in 4×2 and 4×4 configurations and regular cab bodystyle. Using the EC combined fuel consumption cycle the 4×2 regular cab bodystyle travels 100 km using 8.3 litres of fuel and the 4×4 uses 8.9 litres.*

The 156PS (115kW) 3.0-litre version generates 380Nm at the flat peak of its torque curve

“Importantly for all of our customers both TDCi engines produce their maximum torque from just 1,800 rpm,” explains Nenzen. “This makes Ranger ideal for great on-road performance or for hauling and towing with its class leading 3,000kg braked trailer loads.”

The Ranger 4×4 is designed for superior ground clearance and river fording capability. Its approach and departure angles are designed to provide off-road clearance.

Ranger Tough

Ranger isn’t just about tough style. It’s about proven ‘truck toughness’.

Ranger’s toughness starts with a purpose-built truck backbone. Its unique overlapped, cross-braced ladder frame delivers clear strength superiority and the frame is engineered for greater rigidity than H-beam or open-beam configurations.

The frame structure is the foundation of Ranger’s load-carrying capacity, towing capability, durability, handling performance and driving quality.

The Load Ranger

The heart of Ranger’s truck capability is its extra-deep-sidewall pickup box. This design maximises load capacity and cargo flexibility.

The Ranger pick-up box features:

- Well-placed cargo tiedowns. Easy to access, these tiedown hooks have been designed with Ford’s extensive truck engineering experience

- Slotted inner fenders that allow the easy insertion of available shelving systems for cargo management and loading

Ranger is available in three pick-up box dimensions depending on cab configuration:

    - Single Cab – 2280mm by 1456mm

    - RAP Cab – 1753mm by 1456mm

    - Double Cab – 1530mm by 1456mm

Ranger also offers class-leading towing capability. Ranger equipped with either the 2.5-litre or 3.0-litre TDCi Duratotq engine is rated at up to 3,000kg.

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2010 Kia Sorento teaser image released

2009-02-18T14:49:00.003-08:00

Kia has dropped a teaser image for the 2010 Kia Sorento ahead of its launch at the Seoul Motor Show in April. For 2010, the Kia Sorento will get a new exterior and interior look along with a new 2.2L diesel engine developed by Kia’s parent - Hyundai Motor Company.
The new 2.2L R diesel engine [...]

The new 2.2L R diesel engine produces a total of 200-hp and 321 lb-ft of torque. It is expected to return a fuel-economy of 34 mpg. The engine features a third-generation common rail system with piezo-electric injectors.

The 2010 Kia Sorento will also be offered with a 2.4 4-cylinder diesel engine and a 270-hp 3.8L 6-cylinder engine. A 2.7L LPI (Liquefied Petroleum Injection) engine is also expected to be offered with the Sorento in the Korean market. The engine choices will be mated to a new 6-speed automatic transmission.

U.S. sales are expected to begin sometime at the end of this year.

Source: Kia World

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Alfa Romeo Milano, Giulia, Crossover details revealed in Chrysler’s viability plan

2009-02-18T14:49:00.001-08:00

As we keep digging through Chrysler’s Restructuring Plan for Long-Term Viability Plan submitted to the U.S. Treasury yesterday, we keep finding some interesting new product information. On page 113 of the viability plan, Chrysler displays a graph on how it will improve fuel-economy of its lineup by sharing powertrain and products with Fiat. There on [...]

One of the three models will be a sedan called the Milano. The Milano will replace the 147 entry-premium car and is due in Europe around 2010. The second model, known as the Giulia, will replace the 159 medium-premium sedan and will arrive in Europe in late 2011.

Also detailed in the chart are plans for an Alfa Romeo CUV (or crossover).

Chrysler said that Fiat will share its small platforms, small gasoline and diesel engines and light duty dual-clutch transmissions, eliminating Chrysler’s need to develop these components.

In return Chrysler will hand over its 4-cylinder World Gas Engine and Phoenix V6 powertrains that will make it into the future Fiat product line extension.

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2008 Laureates

2009-02-18T14:27:00.001-08:00

William Taylor, named chairman of the Canadian Automobile Dealers Association (CADA) last October, says he spent a very memorable evening at the Canadian International Auto Show's VIP gala event held on February 12. "The honour of being named Chairman of the Association is one thing, but the honour of celebrating tonight with the three winning dealers of the 2008 Laureate program is quite another!" exclaimed Taylor proudly.

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Goodyear to cut 5,000 jobs in 2009

2009-02-18T07:12:00.001-08:00

Goodyear Tire & Rubber Co., announced today that it plans to cut 5,000 jobs by the end of this year after a fourth-quarter loss of $330 million and a 21 percent drop in sales. Goodyear is the biggest U.S. tire maker.
The cuts, which equal almost 7 percent of its Ohio based work force, follow the [...]

The cuts, which equal almost 7 percent of its Ohio based work force, follow the 4,000 jobs that Goodyear eliminated in the second half of 2008. Sales have dipped to $4.1 billion from $5.2 billion during the same period last.

Seems like Goodyear is having a very bad year (sorry we couldn’t help it).

Source: MSNBC

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Production 2010 Cadillac CTS Coupe unveiled in GM’s viability plan

2009-02-17T23:46:00.005-08:00

Originally, the 2010 Cadillac CTS Coupe was scheduled to make its production debut at the 2008 LA Auto Show. However, General Motors decided to push back the launch and rumor had it that the production CTS Coupe will show face at the 2009 Detroit Auto Show - but the much anticipated Caddy was a no [...]

Well, our friend Donny at Fast Lane Daily was doing some hardcore reading of General Motors Viability Plan checking out all the detailed graphs and statistics when he came across a photo of the production 2010 Cadillac CTS Coupe.

In its viability plan that was submitted to the U.S. Treasury earlier today, GM said that the Cadillac CTS Coupe will start production in 2010 with sales to begin later that summer. Power will come from the same 3.6L V6 options found under the hood of the CTS sedan.

2010 Cadillac CTS Coupe (Production):

Source: GM (via Fast Lane Daily)

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2010 Chrysler 300 and 2010 Jeep Grand Cherokee shown in viability plan

2009-02-17T23:46:00.003-08:00

Seen on page 133 and 137 of Chrysler’s Restructuring Plan for Long-Term Viability Plan submitted to the U.S. Treasury earlier today, are sketches of the next-generation Chrysler 300 and Jeep Gran Cherokee.
In it’s plan Chrysler says that “revenue in the in the near term will get a boost with the debut of a redesigned
Jeep Grand [...]

In it’s plan Chrysler says that “revenue in the in the near term will get a boost with the debut of a redesigned

Jeep Grand Cherokee.” It said that the 2010 Jeep Grand Cherokee will be “built in the United States and

will feature improved fuel economy and a best-in-class interior.” Fuel-economy of the next-generation Grand Cherokee will be improved by 19 percent.

As for the 2010 Chrysler 300, Chrysler LLC says the next-generation model will feature a “stylish new exterior and interior designs, improved fuel efficiency and unprecedented uconnect connectivity.” Powertrain options will include an all-new fuel-efficient 6-cylinder engine along with a V8 HEMI. The HEMI will feature Chrysler’s Multiple Displacement System (MDS) that automatically deactivates engine cylinders for enhanced fuel economy which will be improved by 22 percent.

Let us know your thoughts in the comments section below.

Click through for more images.

2010 Chrysler 300 and 2010 Jeep Grand Cherokee Sketches:

Source: Chrysler (via KickingTires)

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BREAKING: GM submits viability plan to Treasury, asks for an additional $16.6 billion

2009-02-17T23:46:00.001-08:00

Along with Chrysler LLC, General Motors today presented its long-term viability plan to the U.S. Department of Treasury. The plan, which is the first of the two status reports required by the loan agreement, outlines GM’s restructuring plans.
GM has asked the government for an additional $16.6 billion to help it survive. The Detroit automaker said [...]

GM has asked the government for an additional $16.6 billion to help it survive. The Detroit automaker said that without the new funding, it will run out of money sometime in March. Under the new plan submitted to the Treasury Department, GM’s loans and lines of credit will now total $30 billion.

Earlier today, GM received $4 billion in the second round of the previously approved $13.4 billion. It is now requesting another $4.6 billion to meet its original request of $18 billion made in December. GM is also seeking a $7.5 billion revolving line of credit to help it if auto sales continue to decline later this year or next year. The automaker said it will begin repaying the loans in 2012.

GM also said that it will also cut 47,000 jobs globally by the end of 2009 and will close five U.S. plants by 2012.

Make the jump for GM’s press release.

Press Release:

GM Presents U.S. Government Updated Plan for a Viable, Sustainable Company

    - Updated plan demonstrates GM’s viability, despite further deterioration in global economy

    - Accelerated cost reductions

    - GMNA EBIT breakeven level lowered to U.S. industry levels of 11.5-12.0 million units

    - Additional government support requested in U.S., Europe and Canada

    - ‘Fewer, better’ products and brands, continued commitment to segment-leading fuel economy and advanced propulsion technology

    - Aggressive and bold plan that demonstrates significant progress

WASHINGTON - General Motors (NYSE: GM) today presented the United States Department of Treasury with an updated plan that boldly responds to the weaker global auto market conditions and details the company’s long term viability. The plan, which provides a comprehensive review of key aspects of GM’s restructuring, is the first of two status reports required by the loan agreement signed by GM and the U.S. Treasury on Dec. 31, 2008.

The plan submitted today addresses the key restructuring targets required by the loan agreement, including a number of the critical elements of the turnaround plan that was submitted to the U.S. government on Dec. 2, 2008. Among these are: U.S. market competitiveness; fuel economy and emissions; competitive labor cost; and restructuring of the company’s unsecured debt. It also includes a timeline for repayment of the Federal loans, and an analysis of the company’s positive net present value (NPV).

The plan also details the future reduction of GM’s vehicle brands and nameplates in the U.S., further consolidation in its workforce and dealer network, accelerated capacity actions and enhanced manufacturing competitiveness, while maintaining GM’s strong commitment to high-quality, fuel-efficient vehicles and advanced propulsion technologies.

GM’s viability plan actions result in a projected GM North America (GMNA) earnings before interest and taxes (EBIT) breakeven point of 11.5-12.0 million units in the U.S., compared to the 12.5-13.0 million unit range indicated in the Dec. 2, 2008 plan. The operating and balance sheet improvements outlined in GM’s viability plan are forecasted to result in a significant enterprise value and positive net present value, positive adjusted EBIT in 2010 and positive operating cash flow for its North American operations in the same year.

Overall adjusted operating cash flows are expected to approach breakeven levels in 2011, and improve to more than $6 billion in the 2012-2014 period, reflecting both the full effect of GM’s global restructuring initiatives and recovering industry volumes.

GM’s need for government support was driven by the global financial market crisis, dramatically weaker economy and the resulting precipitous decline in vehicle demand. These conditions have impacted the entire auto industry, which in the U.S. is down approximately 40 percent from its peak in 2005, to the lowest per capita sales rate in 50 years. Though the impact has been most severe in the U.S. and Western Europe, automakers around the world are reporting large losses, with many seeking government assistance to weather the downturn.

Following the steep decline in U.S. industry sales in December 2008 and January 2009, GM responded by further lowering its forecast for 2009 U.S. industry sales to 10.5 million units (57.5 million units globally) for viability planning purposes. These industry planning volumes are more conservative than those being used by most other industry sources.

“The U.S. and global auto industries are facing times of unprecedented challenge,” said GM Chairman and CEO Rick Wagoner. “These conditions dictate that we must take very tough actions to accelerate GM’s restructuring efforts. We’ve made a lot of progress since the plan we submitted on December 2, 2008, and we have more to do before March 31. The plan we delivered today to the U.S. Treasury is aggressive but achievable. It provides a clear pathway for GM that continues to support American manufacturing and technology innovation, which are vital to the future of our nation’s economy.”

Since the original plan submission on Dec. 2, 2008, GM has made significant progress in a number of areas, including the following:

Dealers and Brands

          o Evaluating Hummer sale options

          o Completed strategic review of global Saab business and sought buyers for the business

          o Saturn review complete; sale or spin-off possible; if not, phase out the brand at the end of current product lifecycle

          o Further reduction in model nameplates

          o Accelerated consolidation of GM’s dealer network

Cost Competitiveness

o Further reduction in U.S. manufacturing capacity beyond Dec. 2 targets

          o Significant progress with the UAW to address labor cost competitiveness

          o Special hourly attrition program, salaried employment reductions

          o Canada restructuring discussions advancing

          o Engaged with European labor partners to achieve $1.2 billion in cost reductions

Balance Sheet

          o Term sheets exchanged with UAW and bondholder committee advisors

          o Initiated bond exchange negotiations with bondholder committee advisors

          o UAW and bondholder committee advisors conducting extensive due diligence

Building on progress GM has already made, the company is taking a number of additional actions to reduce costs, streamline its business and improve its competitive position.

Marketing and Revenue Improvement

In the U.S., GM will focus on its core brands; Chevrolet, Cadillac, Buick and GMC. Pontiac will serve as a focused brand with fewer entries, within the Buick-Pontiac-GMC channel. GM will have a total of 36 nameplates in 2012, down 25 percent from 2008 levels. The plan also provides additional detail on the Hummer, Saturn and Saab brands.

GM expects to make a decision to sell or phase out the Hummer brand by Mar. 31, with a final resolution expected no later than 2010.

GM has conducted a strategic review of the global Saab business and has offered it for sale. Given the urgency of stemming sizeable cash demands associated with Saab operations, GM is requesting Swedish government support prior to any sale. The company has developed a specific proposal that would have the effect of capping GM’s financial support, with Saab’s operations effectively becoming an independent business entity Jan. 1, 2010. While GM hopes to reach agreement with the Swedish government, the Saab Automobile AB subsidiary could file for reorganization as early as this month.

Saturn will remain in operation for the next several years, through the end of the planned lifecycle for all Saturn products. In the interim, if Saturn retailers or other investors present a plan that would allow a spin-off or sale of Saturn Distribution Corporation, GM would be open to any such possibility. If a spin-off or sale does not occur, GM plans to phase out the Saturn brand at the end of the current product lifecycle.

GM’s dealer count is also projected to be further reduced, from 6,246 in 2008 to 4,700 by 2012, and to 4,100 by 2014. Most of this reduction will take place in metro and suburban markets where dealership overcapacity is most prevalent. The result will be a smaller, but healthier GM dealer network.

Technology/Regulation Compliance

As indicated in the Dec. 2, 2008 plan, GM is moving ahead aggressively with plans to improve the fuel efficiency of its vehicles and develop a broad range of advanced propulsion technologies. The company is investing significantly in alternative fuel and advanced propulsion technologies in the 2009-2012 timeframe, supporting the expansion of GM’s hybrid offerings and development of the Chevrolet Volt’s extended-range electric vehicle technology.

For example, GM in January announced construction of a new U.S. manufacturing facility to build lithium-ion battery packs for the Volt. Lithium-ion batteries are an essential technology for advanced hybrids and electrically driven vehicles, and an important energy storage technology for other applications. GM has also committed to increasing its number of hybrid models to 14 by 2012, and to making more than 60 percent of its fleet alternative-fuel capable.

The investments in this restructuring plan will allow GM to become a long-term global leader in the development of fuel efficient and advanced technology vehicles. In doing so, the company will contribute to the development of this country’s advanced manufacturing capabilities and support the growth of “green” industries in the U.S.

Cost Reduction and Operational Actions

In order to improve capacity utilization and cost competitiveness, GM has consolidated its manufacturing footprint considerably by closing 12 manufacturing facilities in the U.S. between 2000 and 2008. Given the current very difficult market conditions, GM will close an additional 14 facilities by 2012, five more than were included in the Dec. 2, 2008 plan.

Agreements with the UAW concerning several items have been completed and are now being implemented. First, a special attrition program has been negotiated to assist restructuring efforts by reducing excess employment costs through voluntary attrition of the current hourly workforce. Second, the UAW and GM’s management have suspended the JOBS program. The program provided full income and benefit protection in lieu of layoff for an indefinite period of time. In addition, GM and the UAW have reached a tentative agreement relative to additional wage and benefit changes.

GM’s management estimates that these competitive improvements will further substantially reduce GM’s labor costs and represent a major move to close the competitive gap with U.S. transplant competitors. In addition, GM and the UAW have agreed to improve competitive work rules, which will also significantly reduce labor costs.

While these changes materially improve GM’s competitiveness and help the company realize a substantial portion of the labor cost savings targeted in the financial projections, further progress will be required to achieve the full targeted savings. GM plans to report these changes to the U.S. Secretary of Labor, who must certify GM’s competitiveness relative to the U.S. transplants.

Outside of the U.S., GM has accelerated restructuring plans for its Canadian, European and Asia-Pacific operations, all of which will be funded from sources outside the U.S.

Canada - Discussions are well advanced with the Canadian Federal and Ontario governments regarding long-term financial assistance to execute the restructuring actions necessary for long-term viability and with the Canadian Auto Workers (CAW) union on achieving competitive labor costs. The CAW has committed to achieving an hourly cost structure that is consistent with what is ultimately negotiated with the UAW.

Progress has also been made with the Canadian Federal and Ontario governments toward an agreement focused on maintaining proportional levels of manufacturing in Canada and on providing GMCL with a level of long-term financial assistance that is proportional to the total support provided to GM by the U.S. government. GMCL is continuing dialogue with its unions and the Canadian government with a target to finalize both agreements in March 2009.

GM remains optimistic both agreements can be completed by that time, which would enable GMCL to achieve long-term viability and enhance the value of GM. In the event that an agreement cannot be reached, GM will be required to reevaluate its future strategy for GMCL since it would not be viable on a standalone basis.

Europe - Europe is a highly competitive environment that is unprofitable for many vehicle manufacturers, and has a relatively costly restructuring environment. GM has engaged its European labor partners to achieve $1.2 billion in cost reductions, which include several possible closures or spinoffs of manufacturing facilities in high cost locations. In addition, GM is restructuring its sales organization to become more brand focused and better optimize its advertising. GM is also in discussions with the German government for operating and balance sheet support. A sustainable strategy for GM’s European operations may include support from partnerships with the German government and/or other European governments. The company expects to resolve solvency issues for its European operations prior to Mar. 31, 2009.

Asia-Pacific - In light of current market conditions, GM is reconsidering the pace of its expansion in the Asia Pacific region. As such, some of the proposed capacity expansion projects and product programs in the region are no longer financially feasible and will not proceed without financial support from either the respective governments or from other partners. GM is holding discussions with its stakeholders to address the required support.

Capitalization

As outlined in the GM viability plan, approximately $27 billion in unsecured public liabilities currently on the company’s balance sheet will be converted to a combination of new debt and equity, for a net debt reduction of at least $18 billion.

Negotiations are progressing with advisors of the ad hoc bondholder committee. Term sheets have been exchanged and due diligence regarding GM’s restructuring has commenced. The company anticipates that the bond exchange offer will commence in late March, consistent with requirements in the U.S. Treasury loan documents. Under the term sheet proposal, a substantial majority of the pro-forma equity in GM would be distributed to exchanging bondholders and the UAW VEBA.

Discussions with representatives of the UAW VEBA have also been progressing, and due diligence is also proceeding with respect to reaching agreement to convert at least half of future VEBA payments to equity. A draft term sheet has been provided to the UAW, and they have indicated their desire to discuss the VEBA situation with government officials prior to signing any such term sheet. Closing of the conversion of VEBA obligations and unsecured debt to equity should be complete in May of this year.

Government Funding

To complete its aggressive restructuring and fund its ongoing operations amid an uncertain economic environment, GM is requesting the U.S. government to consider funding the company with a combination of secured term loans, revolving credit, and preferred equity.

In the Dec. 2 submission, GM indicated that under a U.S. downside volume scenario, the company would need funding support of approximately $18 billion. In addition, GM assumed that the $4.5 billion U.S. secured revolver credit facility would be renewed when it matures in 2011.

In the current baseline forecast, near-term industry volumes are similar to the December 2 downside scenario, and so GM’s forecast indicates the company will need the $18 billion that was requested in December. In addition, based on current credit market conditions, it cannot be assumed that the company will be able to rollover the $4.5 billion revolver in 2011.

Therefore, GM is requesting federal funding support of $22.5 billion under its current baseline industry volume scenario. If the U.S. industry deteriorates further, a scenario depicted in the company’s new, lower downside volume scenario with U.S. industry volume of 9.5 million units in 2009 and 11.5 million units in 2010, GM would require further federal funding, estimated currently at an additional $7.5 billion, which could bring total Government support up to $30 billion by 2011. Under the company’s baseline outlook, repayment of federal support is expected to begin in 2012.

Additional financial support might be required in 2013 and 2014 if GM has to make contributions to our U.S. pension funds. In an update to the Dec. 2, 2008 submission, recent valuations indicate that GM’s U.S. pension plans are currently under-funded as of Dec. 31, 2008. At this point, it is premature to conclude whether the company will need to make additional pension contributions, as the funded status of the pension plan is subject to many variables, including asset returns and discount rates. GM is currently analyzing its pension funding strategies.

During 2009-2014, GM also is requesting funding support from the governments of Canada, Germany, the United Kingdom, Sweden, and Thailand, and has included an estimate of $6 billion in funding support by 2010 to provide liquidity specifically for GM’s operations in these countries.

Finally, the plan submitted today discusses the issue of bankruptcy as a potential option for restructuring, concluding it would be a highly risky, extremely costly and time-consuming process. This reaffirms management’s position that bankruptcy is not in the best interests of GM or its stakeholders. The overriding risks are the significant impact a bankruptcy would have on the company’s revenue stream and the resulting huge debtor-in-possession funding support that would be required from the government, as such funding is not available from traditional sources in today’s market conditions. Accordingly, accomplishing GM’s restructuring out of court remains by far the best approach for all constituents.

“Our viability plan requires significant sacrifices from all GM stakeholders: management, employees, unions, suppliers, dealers, investors and bondholders,” Wagoner said. “But these are the kind of actions we need to take to survive the current industry crisis, and position GM for sustainability and success. This plan, in effect, signifies the reinvention of General Motors for the 21st century. We are working non-stop to put this plan into action, and we greatly appreciate the support and encouragement we continue to receive as we take these important steps toward viability. ”

GM’s leadership team will continue to work with its key stakeholders and the newly formed Presidential Task Force on Autos as it proceeds with its restructuring. In accordance with the loan agreement, GM will submit its second progress report to the U.S. Treasury on March 31. This progress report will be the basis for the Task Force to issue a ‘Plan Completion Certificate’ to Congress, which confirms GM’s long-term viability.

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LIVE VIDEO: Wagoner to discuss GM’s viability plan being submitted to Treasury

2009-02-17T16:18:00.025-08:00

GM’s Chairman and CEO Rick Wagoner will be holding an news conference at 6:30 p.m. EST to discuss General Motor’s viability plan being submitted to the U.S. Treasury. Wagoner will also provide an update on the company’s restructuring efforts
The conference will take place in the Jefferson Room of the Renaissance Conference Center on the second level of [...]

The conference will take place in the Jefferson Room of the Renaissance Conference Center on the second level of GM’s global headquarters in Detroit.

You can check out the news conference live here on eGMCarTech after the jump.

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Clarkson and Hammond’s helicopter makes emergency landing after being hit by seagull

2009-02-17T16:18:00.023-08:00

UK Top Gear stars Jeremy Clarkson and Richard Hammond were lucky enough to come out unscratched after their helicopter was hit by a seagull after take-off. About 400ft over Auckland Harbour in New Zealand, the Top Gear duos helicopter made an emergency landing when a seagull flew into the rotor blade.
The pilot made an emergency landing [...]

UK Top Gear stars Jeremy Clarkson and Richard Hammond were lucky enough to come out unscratched after their helicopter was hit by a seagull after take-off. About 400ft over Auckland Harbour in New Zealand, the Top Gear duos helicopter made an emergency landing when a seagull flew into the rotor blade.

The pilot made an emergency landing at a nearby helipad. After the landing, Clarkson and Hammond took photos with the helicopter and the pilot before going on a sightseeing trip with four other passengers.

Where is Sully when you need him?

Source: Daily Mail

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BREAKING: Chrysler submits viability plan to Treasury, asks for another $2 billion

2009-02-17T16:18:00.021-08:00

Chrysler today submitted its viability plan to the U.S. Treasury Department outlining the company’s plans to continue its aggressive restructuring and plans to payback government loans. Chrysler said that it is seeking an additional $2 billion to its original $7 billion loan request (which was completed earlier today).
The Auburn Hills automaker said that its “viability [...]

The Auburn Hills automaker said that its “viability plan is built around a robust product plan, including 24 launches in 48 months and the introduction of electric vehicles to help meet current federal fuel economy standards.” The first electric-vehicle (we have no idea what it will be and we highly doubt Chrysler does) will arrive sometime in 2010.

Chrysler said that it has agreed with dealers, suppliers and 2nd lien lenders to reduce costs. It said that an agreement has been reached with the UAW that will provide Chrysler with a cost-competitive work force that is in line with its rivals.

Speaking on its alliance with Fiat, Chrysler said that the deal represents a “significant strategic and financial benefits to stakeholders.” It said that the Fiat Alliance would give strength to the company’s viability plan, giving it access to fuel-efficient vehicle platforms and other cost-saving opportunities.

Chrysler said that it will begin payback of its loans by 2012.

Make the jump to read Chrysler’s press release for more details.

Press Release:

Chrysler LLC Viability Plan Submitted Today to The U.S. Treasury Department

    - Chrysler LLC viability plan to be finalized by March 31 deadline

    - Chrysler to complete its aggressive restructuring started in 2007 and 2008

    - Chrysler viability plan is conservatively based and newly reflects an average annual 1.8 million-unit reduction in the Company’s expected annual U.S. SAAR through 2012

    - Chrysler’s viability plan is built around a robust product plan, including 24 launches in 48 months and the introduction of electric vehicles to help meet current federal fuel economy standards

    - The Company’s submission demonstrates standalone viability which could be enhanced through a strategic alliance

    - Dealers, suppliers and 2nd lien lenders’ concessions have been implemented or fundamentally agreed upon

    - A tentative agreement has been reached with the UAW that complies with the terms and conditions of The U.S. Treasury Department’s loan agreement

    - Due to unprecedented economic decline and a drop in current and forecasted U.S. SAAR, the Company adds $2 billion to its original $7 billion loan request

    - Payback of Chrysler LLC’s working capital loans with a premium would begin in 2012

Auburn Hills, Mich., Feb 17, 2009 - Chrysler LLC today submitted its viability plan to the U.S. Treasury Department, outlining the Company’s plans to: enhance its product lineup; complete its ongoing aggressive restructuring; and achieve cost reducing concessions from stakeholders. The Company’s plan is required to be finalized by March 31. The submission outlines significant progress towards meeting the terms of the U.S. Treasury Department’s loan agreement related to achieving competitive costs and increasing fuel economy.

“On behalf of the men and women of our extended family, we thank the Administration and the Congress for the opportunity to continue the process of requesting federal loans to assist Chrysler LLC in the restructuring necessary to achieve long-term viability,” Chrysler LLC Chairman and CEO Robert L. Nardelli said. “We fully understand the need to adapt to significantly reduced annual U.S. sales and to national concerns over energy security and climate change.

“We believe that Chrysler LLC will be viable based on the updated assumptions contained in this submission, and that an orderly restructuring outside of bankruptcy, together with the completion of our standalone viability plan, enhanced by a strategic alliance with Fiat, is the best option for Chrysler employees, our unions, dealers, suppliers and customers. Today, our people are eager to re-establish Chrysler as an iconic American company and, in the process, repay the U.S. government and taxpayers for their faith in our future. We believe the requested working capital loan is the least-costly alternative and will help provide an important stimulus to the U.S. economy and deliver positive results for American taxpayers. This plan will ensure the continued provision of health care and pension benefits to our active employees and retirees, while continuing to protect hundreds of thousands of middle class, quality American jobs at Chrysler, our dealer network and our suppliers.”

To help meet customer needs and increased federal fuel economy standards, Chrysler plans 24 vehicle launches in 48 months, and announced electric technology as a primary strategy for developing fuel-efficient, low emission vehicles, including an electric-drive vehicle in 2010. The viability plan shows compliance with current federal fuel economy requirements as set forth in the Energy Independence and Security Act of 2007. Going forward, Chrysler supports the development of a uniform national standard that reflects the input of all constituents.

To reduce costs, dealers, suppliers and 2nd lien lenders’ concessions have been implemented or fundamentally agreed upon. A tentative agreement has been reached with the UAW that complies with the terms and conditions of The U.S. Treasury Department’s loan agreement. Once realized this tentative agreement would provide Chrysler with a work force cost structure that is competitive with the transplant automotive manufacturers.

Since Chrysler LLC’s original $7 billion submission, there has been an unprecedented decline in the automotive sector. The continued lack of available credit affects consumers and dealers, leading to reduced wholesale orders for Chrysler. Due to this continued lack of consumer credit, we are revising our Seasonally Adjusted Annual Rate (SAAR) forecast in the plan submitted today, which is conservatively based and reflects the reality of a declining automotive industry. We are now projecting a SAAR level of 10.1 million units for this year, (which is a 40-year low for our industry) and an average SAAR level of 10.8 million units for 2009-2012. This is a reduction from our original December submission of 7.2 million units, or an average 1.8 million units annually during the four years. For Chrysler, this represents a sales decline of approximately 720,000 units, (or an average 180,000 units per year) assuming a 10 percent market share. For Chrysler, this results in approximately $18 billion in lost revenue and a $3.6 billion decline in cash inflows during the four years.

Based on this, we will require incremental financial support to continue our orderly and effective restructuring and are therefore now seeking an incremental $2 billion in addition to the remaining $3 billion that was within the scope of our original December 2 plan submission.

Chrysler LLC Viability Plan Highlights

Strategic Alliance

Chrysler has signed a non-binding agreement to pursue a strategic alliance with Fiat that represents significant strategic and financial benefits to stakeholders. The written and oral testimony Chrysler submitted to the U.S. House and Senate in 2008 stated the Company’s intent to seek the benefits of global partnerships and alliances. The proposed Fiat Alliance would enhance Chrysler’s viability plan and would provide the Company with access to competitive fuel-efficient vehicle platforms, distribution capabilities in key growth markets and substantial cost-saving opportunities.

Products

Chrysler’s product line is a key component of its Viability Plan. In 2010, the Company will launch four highly successful platforms: a new Jeep Grand Cherokee, a new Dodge Charger, a new Dodge Durango and a new Chrysler 300 (the most awarded car in automotive history since its launch in 2005). The Chrysler 300 launch will be followed by a new, bolder Dodge Charger and an all-new unibody Dodge Durango.

In 2008, Chrysler offered six vehicles with highway fuel economy of 28 miles per gallon or better. For 2009, 73 percent of Chrysler LLC’s vehicles show improved fuel economy compared with the prior year’s model. Fuel economy will continue to improve in 2010 with the introduction of the all-new Phoenix V-6 engine, which will provide fuel efficiency improvements of between 6 to 8 percent over the engines it replaces. A two-mode hybrid version of the Company’s best-selling vehicle, the Dodge Ram is scheduled for 2010. The first Chrysler electric-drive vehicle is also scheduled to reach the market in 2010. It will be followed by other electric-drive vehicles, including Range-extended Electric Vehicles, in the following years in order to further reduce fuel consumption.

The proposed Fiat alliance would further help the Company achieve these standards as Chrysler gains access to Fiat’s smaller, fuel-efficient platforms and powertrain technologies. The alliance would enable Chrysler to reduce its capital expenditures while supporting the company’s commitment to develop a portfolio of vehicles that support the country’s energy security and environmental objectives.

Restructuring Actions

Chrysler LLC has aggressively restructured operations to significantly improve cost competitiveness while improving quality and productivity. Through year end 2008, Chrysler has:

    - Reduced fixed costs by $3.1 billion

    - Reduced its work force by 32,000 (a 37 percent reduction since January 2007)

    - Eliminated 12 production shifts

    - Eliminated 1.2 million units (more than 30 percent) of production capacity

    - Discontinued four vehicle models

    - Disposed of $700 million in non-earning assets

    - Improved manufacturing productivity to equal Toyota as the best in the industry as measured by assembly hours per vehicle according to the Harbour Report

    - Achieved lowest warranty claim rate in Chrysler’s history

    - Recorded the fewest product recalls among leading automakers in 2008

The following additional restructuring actions are planned in 2009:

    - Reduce fixed costs by $700 million

    - Reduce one shift of manufacturing

    - Reduce total manpower by 3,000 people

    - Discontinue three vehicle models

    - Take out 100,000 units of capacity

    - Sell $300 million additional non-earning assets

Management Concessions

Chrysler will fully comply with the restrictions established under section 111 of EESA relative to executive privileges and compensation. In addition, the Company has suspended the 401k match, incentive bonuses, merit increases and has eliminated retiree life insurance benefits.

Dealer Concessions

Chrysler will achieve cost savings/improved cash flow through a number of initiatives including: reduced dealer margins, elimination of fuel fill, reduction of service contract margins.

Union Concessions

The signed term sheets for the UAW Labor Modifications and VEBA modifications fundamentally comply with the requirements set forth in the U.S. Treasury Loan and once realized would provide Chrysler with a work force cost structure that is competitive with the transplant automotive manufacturers. This agreement is subject to ratification.

Supplier Concessions

The Company has initiated the dialogue with its suppliers and believes that it will be able to obtain substantial cost reductions from suppliers that will result in achieving targeted savings. Chrysler supports the supplier associations’ proposals, which would provide a government guarantee of OEM accounts payables.

2nd Lien Debt Holders Concessions

Chrysler anticipates that the holders of the 2nd Lien Debt will agree to convert 100 percent of their debt to equity. Chrysler’s Viability Plan includes expectations to further reduce its outstanding debt by $5 billion. In addition to strengthening the Company’s balance sheet for the long term, this reduction will also provide immediate cash flow via interest savings of between $350 million and $400 million annually.

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Daimler AG reports $1.95 billion loss in fourth-quarter

2009-02-17T16:18:00.019-08:00

Daimler AG today reported a fourth-quarter loss of 1.53 billion euros ($1.95 billion) - its first loss in two years. CEO, Dieter Zetsche also warned that sales of its Mercedes-Benz brand would decline through 2009 due to the significant drop in demand.
Daimler AG, which still owns a 19.9 percent stake in Chrysler, said that the final figure was [...]

Daimler AG, which still owns a 19.9 percent stake in Chrysler, said that the final figure was dragged down by losses and charges of Chrysler LLC.

Daimler said that it was too soon to provide a forecast for 2009 earnings and that “a more details statement on earnings will only be possible later this year when the economy and the automotive markets can be better assessed.”

Daimler AG’s overall sales fell 17 percent to 480,055 compared with 575,353 a year earlier. For the year, Daimler reported a 4 percent decline in sales.

Source: Detroit News

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556-hp Chevrolet Camaro Z/28 is done, but on hold until financial condition improves

2009-02-17T16:18:00.017-08:00

As General Motors continues to survive on taxpayer’s bailout money, it must be very careful on how and where it spends cash. That includes how the automaker spends money on future products already in the pipeline. According to Motor Trend, the Chevrolet Camaro Z/28 is already done; however, GM has put the Z/28 on hold [...]

As General Motors continues to survive on taxpayer’s bailout money, it must be very careful on how and where it spends cash. That includes how the automaker spends money on future products already in the pipeline. According to Motor Trend, the Chevrolet Camaro Z/28 is already done; however, GM has put the Z/28 on hold since it ran out of money to launch the car.

The General has to be very careful where it spends its taxpayer bailout money since a car like the Camaro Z/28, which is expected to return a fuel economy of 13/19 mpg, will most probably be looked down upon during the company’s current financial situation (aka pissing off taxpayers around the nation).

Under the hood of the Chevrolet Camaro Z/28 will be the same 6.2L LSA V8 supercharged engine from the Cadillac CTS-V. It will produce a neck-snapping 556-hp with a peak torque of 551 lb-ft. The Z/28 will also share the 6-speed manual and automatic transmission with the Cadillac CTS-V. 0 to 60 mph is expected come in at 3.9 seconds with a top speed of 193 mph for the manual version.

While all that makes us muscle car fans drool, General Motors will have to stick to building fuel-sippers like the Chevrolet Cruze and the Chevrolet Volt for now. Let’s just hope by the time GM can make the Z/28, the market will still be willing to buy it.

Source: Motor Trend

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GM, Chrysler to get an additional $7 billion in government loans

2009-02-17T16:18:00.015-08:00

A White House official said today that General Motors and Chrysler will receive another round of government loans totaling $7 billion as previously planned. General Motors will get $4 billion in additional aid while Chrysler will get $3 billion.
Both Detroit automakers will pick up their second installment of loans today as the U.S. Treasury begins [...]

Both Detroit automakers will pick up their second installment of loans today as the U.S. Treasury begins reviewing restructuring plans by the two automakers. Both will submit plans to show how their companies plan to be viable in the long-term and repay the government loans. They are expected to file with the U.S. Treasury between 4 p.m. and 7 p.m. EST.

GM has already received a total of $9.4 billion in government loans and Chrysler has received $4 billion.

Barack Obama’s top spokesman told reporters aboard Air Force One today that the President has not ruled out a government backed bankruptcy for the two automakers.

Source: MSNBC

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