Having been on the road with Steve Lang who conducts his buy here, pay here business (“500 down and 50 a week!”) from a cell phone that appears to be surgically attached to his ear, I was longing for a heads up display fighter pilots have: Eyes on what’s ahead, and still masses of targeting information. We should have driven a BMW: A “full-color head-up display is optionally available for almost all series,” BMW tells me in an email. (Read More…)
There may be a deal in the works to return GM’s golden share in the increasingly important joint venture with China’s SAIC. It will be a skewed trade: The joint venture will go back to 50-50. In return, a sales company will be set up, which is majority controlled by SAIC in a 51-49 joint venture. SAIC will be controlling the most important aspect of the car business: The selling of cars.
In 2009, GM sold one percent of the 50-50 partnership.to SAIC for a token sum of $85 million. Officially, this was to allow SAIC to reflect the JV’s earnings on its books. New Chinese accounting rules say that the earnings can only be reflected if there is substantial control of the company. People had scratched their heads back then – if this share is so important, then why was the price so low? In a 10-K filing, GM explained later: (Read More…)
Nostalgia is big business, and there are plenty of people who will pay any price and bear any burden to return to the products of their youth. Harley has CVO Springer Softails for thirty grand. Gibson has the 1959 Murphy Aged Reissues for about half that much. Patek Philippe will sell you a Large Calatrava just like the one your father forgot to hand down to you (because he was actually a hick-assed convenience-store manager and not the Duke of Worchestershiresauce) for as much as $40,000.
The Sixties-car fanaticism has arguably reached its sell-by date, a casualty of disappearing portfolios and Barrett-Jackson overkill, but Ford has something really quite nice for the remaining True Believers: a brand-new 1964 1/2 Mustang convertible shell, built (or at least approved) by Ford.
George writes:
Sajeev, I enjoy TTAC and your writing. Okay, I succumbed to the blandishments of you Panther lovers (and to fond memories of my father driving his Fords and Lincolns), and bought a 1996 Lincoln Town Car Cartier. The car has about 143,000 miles on it, all in North Carolina. The previous (2nd) owner was reportedly a little old lady, and because of the condition of the driver’s seat she could not have weighed much more than 90 or 95 pounds. It is well taken care of and straight.
On the last possible day to work out a deal before being forced into bankruptcy, the Victor Muller era has ended at Saab. The Swedish brand will now become a completely Chinese-owned company… if all goes to plan. A press release explains
Swedish Automobile N.V. (Swan) announces that it entered into a memorandum of understanding with Pang Da and Youngman for the sale and purchase of 100% of the shares of Saab Automobile AB (Saab Automobile) and Saab Great Britain Ltd. (Saab GB) for a consideration of EUR 100 million…
…The administrator in Saab Automobile’s voluntary reorganisation, Mr. Guy Lofalk, has withdrawn his application to exit reorganisation. The MOU is valid until November 15 of this year, provided Saab Automobile stays in reorganisation.
But remember, this is Saab… and its fate rests in the hands of many, many people not named Victor Muller. Despite the air of finality that is surrounding some of the media coverage of this latest announcement, this is not a done deal. The Saab saga rolls on…
After news spread that paying a red light camera tickets in Los Angeles County, California is optional, the average number of people paying citations declined by nearly a third. According to an analysis of Los Angeles County Superior Court payment transaction count and revenue data by TheNewspaper, the state, Los Angeles County, municipalities and photo enforcement vendors are losing $1 million per month following the revelation that there is no penalty for tossing a mailed ticket in the trash. The news broke as part of the hearing process while Los Angeles municipal officials debated whether to shut off automated ticketing machines in the City of the Angels.
“What we have here is truly a voluntary citation program,” Los Angeles Police Commissioner Alan J. Skobin said at a June 7 meeting. “It’s voluntary because there’s no teeth in it and there’s no enforcement mechanism.”
In the post-bailout, post-giveaway, billion-dollar-bonus-baby and occupied-Wall-Street era, it seems almost impossible to correlate reported financials to anything substantive. Nor does a single swallow make a summer.
Chrysler, however, is hoping that today’s third quarter report is merely the vanguard of a Capistranian return to profitability.
Scion is quite sure of one thing: the new iQ is a much better car than the smart fortwo. What they’re much less sure of: how many of the targeted fine young North American urbanites will buy one rather than periodically use Zipcar. I’m neither young nor urban, but I’m going to do my best […]
Watch UAW President Bob King on New Contracts: Top Priority Was Creating Jobs on PBS. See more from PBS NewsHour.
Though UAW boss Bob King has said that organizing transplant factories is a life-or-death struggle for the union, but the real make-or-break issue this year was the contract negotiations with the Detroit Automakers. And though King roundly denies that a rift has been formed in his union over two-tier wages, the facts simply don’t back that position up. In the last contract to be ratified (with Chrysler) for example, only 54.8% of the union approved the deal… hardly the “overwhelming support” that King claims. Moreover, 55.6% of the skilled-trades workers at Chrysler rejected the contract, according to the Detroit Free Press. King’s narrative of experienced workers “demanding” higher wages for the Tier Two brothers “in the greatest spirit of solidarity” just doesn’t hold up to scrutiny.
(Read More…)
The autoblogosphere is agog this morning over what appears to be yet another leak of a Toyota JDM catalog, this time of the highly anticipated Toyota FT-86 sports coupe. But is this what Toyota’s lightweight, rear-drive sportscar will actually look like? Not exactly:the image above is clearly labeled as a Modelista version, which means it’s been visually tweaked by Toyota’s in-house tuner. On the other hand, if you pull off the Modelista bits, specifically the front fascia and ground effects kit, you’ll find that this model more closely resembles the FT-86 Concept than the FT-86 II Concept, most notably in its proportions. With a more compact, cab-forward look, these images show a car that shares the first Concept’s basic shape with just a hint of the II Concept’s wild wheel arches and sweeping character lines. That comports with what the FT-86’s chief engineer told TTAC in a recent exclusive interview, when he said the initial Concept was “kind of close” and the II Concept was “not close at all.” Another clue that this is the real thing (or close to it): ft86club shows that the interior appears to be similar to mules that were caught testing.
Finally, there’s one key issue with this FT-86 image leak that must be considered: when this car comes stateside, it will be as a Scion FR-S, not a Toyota. Which means it could well be visually tweaked even further for our market, as it transitions to Toyota’s youth brand. In any case, the mystery won’t last long: TTAC’s Bertel Schmitt will be on hand for the FT-86 (and Subaru BRZ) reveal at the upcoming Tokyo Auto Show. Until then, speculate away!
An estimated sixty million Americans live in a jurisdiction monitored by an automated ticketing machine. According to a report released today by the left-leaning US Public Interest Research Group (US PIRG), the trend of privatizing law enforcement raises a number of issues that put the public in those areas at risk.
The Reatta we saw in the junkyard yesterday was a pretty rare car (though not so rare as its Hyundai Scoupe neighbor), but California self-service junkyards tend to be full of such jewels. Here’s a long-forgotten, one-of-250-built Mopar that makes those two seem commonplace. (Read More…)
Consumer Reports announced the results of their 2011 Annual Auto Survey yesterday. Among the heroes: the oft-maligned Chrysler 200, the Chevrolet Volt, and the island nation of Japan. In the doghouse: Regal, Cruze, LaCrosse, and pretty much the entire “new lineup” of General Motors.
The biggest loser this year, however, was Ford.
Toyota says it will suspend production at its assembly plants in Indiana, Kentucky and Ontario, Canada, along with an engine factory in West Virginia to cope with a shortage of parts, caused by flooding in Thailand. The parts shortage is beginning to affect global operations. (Read More…)
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