It can be so hard to tell when the firm’s CEO is so notoriously at odds with reality. So let’s just say that we’re entering Elon Musk’s world, grains of salt available upon request. In fact, the news comes from a Musk email that Jason Calcanis has posted verbatim to his blog (cross posted at Tesla Motors). The main point of the email seems to be to convince the reader that Tesla isn’t about to disappear with the credit market, citing a deal with Daimler to electrify the Smart, a $40m investment round and the near sellout of all 2009 Roadsters. Even better, if you lay out $100k for a Roadster now, you might just have a new cashflow opportunity to get you through the hard times. “Due to our order backlog, it seems that owning a Roadster can be a good investment,” writes Musk. “Last September, as the financial and real estate markets began crashing, a Roadster was sold at the Sonoma Paradiso in California wine country for $160,000, well above the current list price of $109,000.” And if you buy that, I’ve got some mortgage-backed structured invesment vehicles that you might be interested in. But the big news is that Tesla may or may not get funding from the biggest sucker of them all: the US Federal Government. Or not. (Hat Tip: minion444)
Hey, Robert, since you’re posting stupid window stickers, here’s one from a Chrysler dearler near me barely on life support (aren’t they all). 3 months ago they had 42 Crossfires with this additional mark up sticker. There are still 39 there.
Lithium-ion batteries are not yet a major source of automotive propulsion. Excluding the li-ion cells lingering within the $100k+ Tesla Roadster, not a single volume vehicle depends on the technology. Toyota has adopted a “go slow” policy on li-on cells re: their gas – electric Synergy Drive (most famously found inside the Prius). Sure, li-ion batteries will power Chevrolet’s electric – gas hybrid Volt. Eventually. And that’s no small point. At the moment, with gas prices at historic low levels, hybrids simply aren’t selling. Of course, nothing’s really selling. Except the idea that we need lots and lots of hybrids and that those hybrids will need lithium ion batteries and we better make sure we have enough lithium otherwise the vision of clean, gas-free personal transportation will disappear. And the New York Times can’t have that, now can it?
On February 13, 2004, two families in separate vehicles were driving at the “Four Corners” intersection of Highways 14, 34 and 63. These roads merge together on a sharp curve in a blind crossing without a stop or yield sign. The two cars collided nearly head-on, taking the lives of three and severely injuring four others. The surviving family members sued Darren Griese, in his official capacity as South Dakota Department of Transportation (DOT) Pierre Region Traffic Engineer. On Wednesday, the South Dakota Supreme Court issued a ruling absolving the state from any liability in cases where it fails to warn motorists about roadways with an inherently dangerous design. (Read More…)
The BMW 3-Series has been the gold standard for small sports sedans since America had a gold standard. Well, it seems that way. The Ultimate Driving Machine has seen off the Germans (Mercedes C-Class, Audi A4), Americans (Cadillac CTS) and Japanese (Infiniti’s G-force). Repeatedly. Despite the min-Merc’s rep as a credible corner carver, it’s the Infiniti that’s posed the most dangerous threat to the 3’s rep. In fact, Infiniti’s persistence is the automotive equivalent of the posse in Butch Cassidy and the Sundance Kid. Who are zees guys? These days, the G-Unit chases the 3 with a bigger engine, remapped power delivery and a Bimmer baiting tagline: “Beyond Machine.” We shall see . . .
There’s little debate that the Corvette is one of the things GM does do right. As in really right. But does this mean that the program deserves the resources for new concepts like this Stingray? Or does it mean that the money would be better spent working on mass-market offerings, where the track record is not so good? It’s your money (if you pay taxes); you decide!
Why did Chief BMW Designer Chris “Flame Broiled” Bangle introduce this vehicle to the world? His successor, Adrian van Hooydonk, was responsible for its genesis (in the non-Hyundai sense of the word). At the unveiling, the outgoing design meister said Mr. Hooptie was in The Big Apple on Bimmer business. In any case, what a waste of time. (Not to mention money, as the industry is currently so awash in the stuff.) That said, it was nice to hear Mr. Bangle tell the assembled 3D-glasses wearing throngs that they looked “cute” in a 1950’s Life magazine cover photo sort of way. And I was intrigued to discover this four-door career coupe de grace offers more rear headroom than an X5. Will this, uh, thing ever make production? Do you care?
Paraphrasing, of course. Somehow I don’t think Thomas Donohue has been tapping into urbandictionary.com to burnish his street cred. Which is a shame, really. ’Cuz American slang is one of this country’s best, fully domestically-produced products and an extremely popular export. Unlike “domestic” automobiles which are, when you look at it, not so domestic after all, eh Mr. Bond? The Big 2.8’s foreign production and foreign-sourced parts are a DLS—but not to Uncle Tom. The Detroit News reports that the head of the U.S. Chamber of Commerce knows what’s what. “The domestic auto industry is not a domestic auto industry at all. If you went from bumper to bumper, you would find parts made from all over the world.” True dat. And Tommy’s crew is working furiously to make sure there aren’t any “buy American” provisions in the “stimulus package” (a terrific euphemism for . . . something). “We’ve got 30 lobbyists trying to keep an eye on that language,” Donny declaimed, assuring the Detroit Economic Club that he wasn’t fornicating Fido. Now, how are those guys going to Land it in the Hudson?
Yesterday, we related a Reuters report that SAIC might buy out the Chinese part of GM, that GM might take the money and bail. Today, true to form, the denials arrived. Again according to Reuters, GM says they have no plan to sell shares in its joint venture SAIC. This according to Henry Wong, a spokesman for General Motors China. Reuters is positive that GM held talks with SAIC Motor about selling part of its 50 percent stake in the joint venture, or other assets. As if on cue, GM’s plan to enter a joint venture with SAIC’s competitor FAW received new traction today. The plan had been on hold for a while.
In the meantime, the speed dating game between Chinese companies and desperate Detroit companies who want to swap their corporate children for cash continues. Today on the radar screen, again: Volvo. Reuters has picked up indications that Chinese car maker Chery Automobile has held talks with several European auto brands, including Ford’s Volvo, and is interested in an acquisition. Volvo and GM are not alone.Whole China is turning into a speed dating frenzy, anything goes, and the dates are getting cheaper by the minute.
Surprised? Neither are we. From the moment Chrysler execs mooted a Nissan hook-up—a moment born of Congress-appeasing desperation—we heard rumblings that it wasn’t gonna happen dot autoextremist. Our sources in The Volunteer State volunteered the information that nothing was happening, Nissan-wise. Again, no surprise. If the Nissan will build us a competitive car (’cause we don’t have a fucking clue, mate) and we’ll sell ’em Rams to rebadge as Titans deal was going down, Chrysler wouldn’t have floated il madre of trial balloons known as the great FIAT giveaway. Still, as any good Catholic automaker knows, confirmation is a big moment in a bogus story’s life. Although they were happy to repeat the propaganda without question at the time, Reuters rocks!
Why wouldn’t the classic car market crash? Not only are the bonus boys getting bounced, but swanning around in multi-million dollar cars is just not done in these turbulent times. And even if it is, the temper of the times still calls for restraint re: purchasing four-wheeled frippery without which even the wealthiest amongst us can survive. The weird thing here is how long it’s taking the MSM and even the specialist press to acknowledge and declare the collapse of the collector-car market. It’s almost as if they’re in cahoots with the people promoting and selling the vehicles, along the lines of those real estate magazines whose articles are as thin as the “there’s never been a better time to buy” logic contained within. Reality checking is a tough job, but someone’s got to do it . . .
In theory, the Oldsmobile Aurora started something great for the GM’s Rocket division. In reality, the car that re-invigorated this brand died by the system that created it. Though Oldsmobile saw the writing on the wall, they didn’t go down without a fight. As the first TV spot proclaimed, “See what happens when you demand better?”
An overview of what happened in other parts of the world while you were in bed. TTAC provides round-the-clock coverage of everything that has wheels. Or has its wheels coming off. WAS is being filed from Beijing until further notice.
European Carmageddon: “What, me worry?” Europe experienced the full brunt of carmageddon in January. Europeans bought 27 percent fewer cars in January than in the same month of the prior year. Only 958,500 cars hit Europe’s highways and myways, Das Autohaus reports. The German industry group VDA expects the trend to continue. Relatively benign losses were recorded in France (down 8 percent) and Germany (down 14 percent). The European basket cases are Spain (down 42 percent), Italy (down 33 percent) and UK (down 31 percent). Romania lost half of its new car sales.
Share or retire: Toyota will introduce work-sharing arrangements at assembly plants in the US and Britain in an effort to retain jobs after sharp production cuts at these facilities, the Nikkei [sub] writes. The move is expected to involve US factories in Indiana and Texas, which roll out large vehicles, as well as plants in the UK, including a facility that assembles midsize cars and subcompacts in the county of Derbyshire. Toyota plans to propose the work-sharing arrangements to workers at these facilities by the end of the month. Those that do not accept will be allowed to apply for early retirement. (Read More…)
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