The Fisker Karma hybrid sedan may be debuting in about two days and counting, but what does a debut mean? According to the Detroit News, Fisker spokesfolks are already saying that
the “first few customers” will get Karma vehicles by the end of the year, with full production to start in the first three months of 2011.
In other words, we’re afew days away from a Potemkin launch, in order to keep the Department of Energy from looking like a misinformation peddler. The DOE said the Karma would be on sale this summer way back when it lent Fisker $530m. Whoops!
What, you didn’t know that Amarok is Inuit for “Wolf”? Anyway, Forget Mahindra. Third-world compact diesel pickup fetishists can move their misplaced hopes for US-market salvation on Volkswagen’s Amarok. Not because VW is particularly likely to bring it to the United States, but because Auto Motor und Sport just posted a bunch of photos of the new single-cab version. Plus this sweet angle on the double-cab model. All this Eskimo wolf needs is a fire hydrant. And some magical way of passing EPA tests without an expensive diesel-scrubbing system. Not to mention a free pass on the Chicken Tax.
Either CNN Money’s Chris Isidore just rained all over GM’s IPO parade with his headline The auto rebound is a myth, or GM’s IPO is going to need a lot of support from abroad. With GM planning on dropping billions of dollars worth of stock on the market, investors interested in supporting US-market growth have quite a bit of cold water to deal with. Isidore’s piece is a good place to start. As has been the case for some time, GM’s real growth opportunities appear to be in developing economies like the so-called BRIC (Brazil, Russia, India, China) countries. The Chinese are notoriously cash-rich, and hold a special affection for General Motors which is the second-largest foreign automaker in China. And with Chinese sales outstripping America’s sluggish sales, China is already GM’s most important market. GM’s Chinese partner SAIC recently took a majority stake in their “Shanghai GM” joint venture and was given the keys to GM’s Indian market operations for its trouble. Why wouldn’t Chinese firms like SAIC move on a chunk of GM’s equity when it goes to market? Given how perennially popular US sovereign debt has been with Chinese investors, why wouldn’t a Chinese corporation love to become business partners with the United States government? But how would Treasury react? Would the White House rather hold onto GM than let Chinese investors take it piece by piece? Or is this all just too terribly paranoid to consider?
My trusty 20-plus-year-old Accord is getting a bit long in the tooth, and I’m starting to think about a replacement. While the car will be used primarily for commuting, I’d like to maximize the “fun to drive” quotient while respecting some other requirements:
* must have a manual transmission
* must be reasonably efficient (30mpg+ highway)
* must be reliable (though I don’t mind occasionally getting dirt under my fingernails doing some maintenance)
* must be able to seat four in reasonable comfort (the back seat should be adequate to transport two adults across town)
* should be a five-door hatch (but other configurations will be considered)
* should be under $10K (USD)
Chrysler’s Ed Garsten breaks the last bit of bad news TheFirehouse will ever have to spin:
I wanted to let you know that on Wednesday we’ll be closing the doors at TheFirehouse.biz, our media-only blog…
We had a great time posting things you wouldn’t dare put in a news release. Things like “Friday Night, Gotta Go,” an explanation of the company’s potty break policy in response to a minor flap at one of our competitors. When coverage of recalls at domestic automakers seemed out of whack, compared with coverage for recalls by foreign companies, we listed every recall by a major Japanese competitor that had previously won a free pass in the press, and pointed out that indeed, they had recalled many, many more vehicles than the Detroit bunch.
Our biggest blowout was calling out “Big Oil” for artificially propping up fuel prices.
Over time we were playful, pointed, and took great glee in “guiding” journalists towards positive results hidden in those monthly sales reports.
The brick and mortar firehouse during the auto show has been gone for a couple of years, a victim of financial realities, and now we’ve made the tough, but logical decision, to shutter the virtual version.
O Noes! Where, oh where will the internet get its coveted Chrysler spin on the automotive industry?
Will the North American market for cars go up 45 percent in the next four years? I’m not convinced. Certainly the momentum hasn’t shown up yet. But this slide is from GM’s “Global Business Conference” which the company is holding in Michigan this week to drum up support for its forthcoming IPO. So… a little over-optimism is hardly surprising. But we’re not the only ones skeptical of GM’s ability to take flight as a public company. Automotive News [sub] reports that
Mirko Mikelic, a fixed income portfolio manager at Fifth Third Bank in Grand Rapids, Michigan, said he expected GM to face grilling about the risks of a return to recession in the United States.
“There’s concern about a double dip out there. That’s probably the biggest thing that’s weighing over GM coming to the market because that’s going to keep (auto sales) down for another year or two,” he said.
It’s been written at least a few times here at TTAC that crossovers are the methadone of SUV addiction, and Ford is proving the point, as it prepares to launch its 2011 Explorer. Once one of the most popular SUVs in America, the Explorer is going to a unibody chassis, and the reactions to teaser images on Facebook show that America is still struggling with its SUV addiction. Facebook reactions [in gallery below] show a mixed reaction to the Explorer’s new crossover-inspired look, including unfavorable comparisons to such “cute utes” as the Honda CR-V. Ford is reacting with a video [above] which describes the Explorer as a “21st Century SUV” that offers “do anything, go anywhere” capability. Which is funny, considering that the original Explorer was never exceptional at either off-road or on-road capability. But hey, who ever said that addiction was a logical choice?
My family hates buying stuff at the big box stores. Mom and Pop’s, garage sales and thrift stores have always been the staples of good living for the Lang Gang. That’s not all. There’s a slaughterhouse a few hundred feet away from the county border where I get all my meat. A dozen neighborhood gardens offer an amazing variety of produce for the taking and trading. Heck, even my customers have offered everything from power generators to honey during tight times which I gladly accept. This is Georgia after all. When it comes to buying and selling all things automotive, I have also fond an awful lot of very unusual solutions. Namely… (Read More…)
The New Mexico Supreme Court on Thursday expanded the ability of police to jail suspects for driving under the influence of alcohol (DUI) by allowing arrests to be made solely based on third-party tips. The ruling was handed down two weeks after the same court had relaxed DUI arrest rules so that motorists sleeping off a night of drinking in their automobiles would not be hit with the same penalty as if they had driven away (read decision).
I still remember when I accompanied a big cheese of Volkswagen to (then) Czechoslovakia in 1990, shortly after the iron curtain had rusted out. We went to Mladá Boleslav, near Prague, to inspect VW’s latest acquisition: Skoda. The place was pretty much empty.
“Where are the workers?” asked my guy. (Read More…)
The NRA, the Pope, Porsche and Piech, all eyes were on the Supreme Court for the last few days: Gun owners watched the Chicago case (right to arm bears upheld.) Accountants and CPAs monitored the treatment of their favorite boondoggle, a.k.a. Sarbanes-Oxley (upheld.) Rome said “oh my God” when they heard that a lawsuit that accuses the Vatican of conspiring with U.S. church officials to cover up sex abuse could proceed. Meanwhile, Germany’s attention, from Zuffenhausen to Wolfsburg, was fixated on Morrison v. National Australia Bank, No. 08-1191. The Supreme Court seriously frustrated attemps by overseas investors who want to drag non-American companies into American courts. Champagne corks popped at Volkswagen and Porsche. The Guardian: “America’s supreme court has told prospective European claimants to take their claims back to Europe.” So what does that have to do with Porsche? (Read More…)
sold 13.3 million shares for $17 each, raising about $226 million. It raised the number of shares it hoped to sell by 20 percent. It had planned to sell 11.1 million shares for $14 to $16 each.
That’s more than the “as much as $213m” number floated earlier, but with a recent Toyota deal and an EV-infrastructure bill in congress, Tesla has as much wind at its back as it can ask for. But if investors do get to start trading Tesla stock starting tomorrow, they’ll have a gut check before long. Tesla lost $30m last quarter, and it the second quarter ends on Wednesday. If those numbers show another healthy loss, investors will look away knowing that they’re in a risky, long-term investment. But can a $1.6b market-cap firm really compete in development, design and manufacturing with the giants of the automotive world simply by taking in two times its 2009 revenue in one IPO?
Since EPA certification has not been obtained, we were worried the delays would continue. We want to begin sales in December as Mahindra stated to the press on May 17th. Our sole intent was to get Mahindra focused on not missing another deadline. We simply wanted to protect you, our dealers, and your investment in the Mahindra brand.
That’s what John Perez, President of Mahindra’s US-market distributor Global Vehicles wants to know. Perez is suing the Indian manufacturer of the compact diesel pickups and SUVs to make sure his dealers dealers don’t miss a fourth blown sales deadline. Mahindra, according to Global’s suit, has not yet filed official EPA paperwork for any of its vehicles. December launch, huh?
Audi’s new A8 and a prototype of its upcoming “four-door coupe” cousin, the A7, get caught looking mighty similar by Auto Motor und Sport’s Erlkönig spy photographers. And though it’s unfair to judge prototypes too harshly, the Nürburgring footage at AM und S reveals an A7 that leans in the sweepers and looks confused in kinks. With the rumors of an S7 and RS7 sporting the R8’s V8 and V10 respectively floating around, one hopes that Audi gets the chassis sorted quick smart. The A7 has to offer something besides worse rear headroom.
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