Virginia Governor Bob McDonnell (R) signed into law last week a proposal that would create an entirely new form of automated ticketing machine, an “airport business” camera. The move followed his approval last month of legislation designed specifically to revive his state’s moribund red light camera program.
The Ford Motor Company released its first quarter earnings today [Full report here, Slide presentation here (both PDF)], revealing that it gained over $2b in net profit on rising revenue and improved operating margins. Sales receipts rose to over $28b, and with each of Ford’s regional units posted operating profits, Ford’s gross automotive cash rose by $400m to $25.3b (although operating cash flow was $100m in the red). North American operations earned $1.2b in pre-tax operating profit, South America earned $203m, Europe recorded $107m and Asia-Pacific-Africa brought in $23m. Ford Credit racked up $828 in pre-tax profits, as lower depreciation levels improved results. Despite these fine results, Ford finished the quarter with $34.3b in automotive debt, a $700m increase from the beginning of the year. Ford paid $492m in interest on that debt in the first quarter.
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Move over! A Tokyo taxi.
Forget about the crafty Japanese starving off any attempt of honest American companies to penetrate the Japanese market. A true blue American company, founded by true blue American venture capital, goes right for the heart of Japan: Tokyo’s taxi market. (Read More…)
The French-Japanese relations continue to bloom. Here is the latest tie-up. Forget former on-again, then off-again relationships. This time, it’s serious. The Nikkei [sub] reports that Mitsubishi Motors and France’s PSA have tied the knot and will jointly breed new sports utility vehicles. (Read More…)
This chair will soon be vacant
Remind me to send a bill to Volkswagen for propaganda services rendered. Maybe I can use my old Lieferantennummer. (Supplier’s Number.) Otherwise, TTAC and your humble BS would be ripped off left and right. (Read More…)
It’s yellow! The recent Ford EXP win probably goes to rocketrodeo, who said “Mercury LN7”. Since to the best of my knowledge, the cute little twins shared the same tail light, there would be no way to distinguish. Unless someone raises an objection, it will be so. Stay mellow!
Here’s a new experience to notch up in the old “times they are changing, the” folder: cranking your PC speakers to take in the full aural pleasure of a hybrid at full chat. Sure, it’s a race-only Porsche, with 6-7 seconds of driver-activated electric thrust (which driver Nico Hülkenberg says he used “about 20 times per lap” of the Nürburgring), but it sounds so good you’ll understand why Porsche already has 900 potential buyers lined up for a production version of its 918 Spyder hybrid supercar concept. And while we’re ‘ringside, pondering the once-incomprehensible, could someone please explain what a 2011 Jeep Grand Cherokee is doing running hot laps?
[Hat Tip: You know who you are…]
Unlike long-wheelbase luxury, the other major theme emerging from coverage of the Beijing Auto Show was hardly unique to the Chinese market. Electric vehicles and talk of automotive electrification have become a highlight of every auto show, with politicians joining executives to push EVs whether the show is in Detroit, Paris or Beijing. And yet, with a power grid that is said to be upwards of 80 percent coal-powered, China isn’t exactly the ideal candidate for an electric car offensive. China’s BYD F3DM was arguably the world’s first plug-in “on the market,” and yet the Shenzhen-based automaker only found 48 fleet sales last year, and still has yet to report a private sale. Conventional wisdom suggests that most Chinese buy at the lowest end of the market (if they’re lucky enough to afford it), while the “coastal elites” tend to spend their hard-earned profits on vehicles that convey prestige rather than eco-optimism. This is a model the global carmakers know how to work with… so why all the talk of EVs in China?
Sure Mitsuoka is a weird company, with a penchant for changing somewhat-boring modern cars into profoundly quirky tributes to classic designs. For example, if you really want a Nissan Versa that looks like a Jaguar Mk. II (and really, who doesn’t?), they’re the folks you go see. But is anyone imbalanced enough to desire a Mustang-based quasi-Rolls-Royce Drophead? Or is this just an attempt by Mitsuoka to out-ugly its own Orochi? There had better be a good reason for this monstrosity, because this Roller rip-off is deeply, almost intentionally hideous… as if the designer felt that the Mustang’s flank lines actually compliment the tacked-on Rolls hood. And we thought it was impossible to make the Geely GE look good…
Welcome to yellow convertible week at CC. Intimations of summer are in the air, and what better way to immerse oneself into its mood-enhancing, Vitamin-D generating goodness than in a convertible, especially in a yellow one? We’re going to sample a highly diverse lot, starting with the smallest and ending with the biggest. And for true top-down motoring, its hard to be in something with four much smaller than this Metro. (Read More…)
Alfa-Romeo is turning 100 this year, and to celebrate, all the famous Italian design houses are showing their own conceptual expressions of Alfa-ness. And strangely, from Pininfarina’s buttoned-up (and bizarrely-named) 2uettottanta, to Bertone’s over-the-top Pandion, the entries thus far have felt a little… lackluster. Have Alfa’s recent problems killed the mystique? As it turns out, Pinin and Bertone were just getting us warmed up for Zagato’s stab at an Alfa tribute, this stunning TZ3 Corsa. Loosely based on 8C running gear, the TZ3 Corsa is not only an Alfa tribute, it’s also a racing special commissioned by German collector Martin Knapp, and homologated to FIA GT2 spec. Which means it doesn’t just look good. You know, TTAC’s birthday is coming up too…
Last week’s announcement that had Chrysler turned a Q1 profit and GM had “repaid” taxpayer loans brought a flurry of political posturing about the success or lack thereof of the auto bailout. With Republicans laying into the auto bailout from several angles, President Obama dedicated his weekly address to a defense of industry assistance. Obama still frames the bailout as an unpleasant necessity, but argues that last week’s news means the chances that taxpayers will recoup their “investment” are improving. And apparently the Treasury agrees. According to the Detroit News, Treasury has revised its estimate of auto bailout losses (not counting GMAC) downwards, from $30.6b to $28b. Progress, sure, but hardly a sign that taxpayers can expect full payback from its state-owned automakers.
Everybody knows a “Mr. Euro”. Hell, you may even be “Mr. Euro” to your friends. Mr. Euro is the guy who, for some reason, wants the cars he cannot have in the United States. He’s the guy who says he would drive a 520i “in a heartbeat” given the chance, the dude who thinks we’re […]
T.W. writes:
Hi Sajeev,
Is it nuts to buy an original, low mileage ‘88 Mazda 323GTX that has not been rallied to death, even if I don’t need another car and have no place to park it?
As you probably know these cars are usually spoken about with a hushed reverence from the rally car crowd, they’re quite rare, and I’ve wanted one for years. It’s over 20 years old so it will need paint and other assorted repairs, and parts are getting scarce as well, but it may be worth it.
I thinking more of a long term investment while understanding it’ll never have a return like a 69 Super Bee, GTO, or what have you.
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