Workers at the former Toyota-GM joint venture NUMMI have approved a severance offer from Toyota. Union officials won’t reveal the exact amount involved, and while the Detroit Free Press reports that workers will make a “minimum” of $21,175, the San Jose Mercury says the deal “gives an average severance package of $54,000.” Could it be that some union brothers are more equal than others? What the Freep leaves out is that $21,175 minimum applies to 300 of NUMMI’s 4,700 workers who are already on disability leave. Workers with over 25 years of experience will receive $68,500.
If there are two words that can’t be left out of any discussion of 2010 auto sales numbers, they are “incentives” and “fleet.” With a fleet sales binge well underway, and Toyota recall-triggered incentive wars raging with no end in sight, the spring Truck month rituals have been bounteous. And with sales of full-sized trucks through February trending flat and fragmented, they had to be. But will they make a difference?
What was once merely a tastelessly expensive and unnecessary car has been transformed by tuners into a full-fledged affront to nature at the 2010 Bodensee Tuning World show [via Autobild].
In addition to lowering prices on 2010 models, Saab is introducing $4k-$8k incentives on 2009 models, according to bankrate.com. Will that be enough to make the company’s goal of 100k sales? With only 500 2009 models available in the US, and 2009 sales of 39k units globally last year, the answer is almost certainly a resounding “no.”
“What are you, blind?” It’s got to be one of the motorist’s most-used phrases, but it’s also clearly a rhetorical one. Of all the hardships that come with visual impairment, the inability to drive is surely one of the most frustrating, especially in car-centric cultures like the US. Nearly a decade ago the National Federation for the Blind launched its Blind Driver Challenge, which challenged universities to take up the cause of developing technology that would allow the visually impaired to operate motor vehicles. Today that technology exists. AOL News reports on a Virginia Tech program that is developing a vehicle that can be operated without visual input.
We’re ready to seal the deal. If the deal fails, the problem is not on our side. We have not violated any part of the agreement. The situation is changing constantly…and the process of the negotiation is very tough. We will put as much effort as we can. I hope the deal can be done
Geely Zhejiang Chairman Li Shufu is sounding defensive in today’s Wall Street Journal, as his firm’s deal to buy Volvo from Ford drags on. And he won’t say what’s holding things up on Ford’s end either. After all, the money is there, and Ford (allegedly) isn’t sweating the IP details… so where’s the beef? Ford spokesfolks say the Blue Oval’s
position hasn’t changed since 23 December last year. As Ford and Geely said at the time—and as we’ve continued to say—we expect to sign a sale agreement in the first quarter.
That gives the Volvo-Geely deal two more weeks, not long considering the deal has been over a year in the making. So why is Li Shufu getting so antsy? Is this end-of-deal nerves, or is the Geely-Volvo deal going the way of HUMMER-Tengzhong?
Gawker reports that Toyota Motor Sales has sent a letter to ABC News President David Westin, requesting that Brian Ross’s report on unintended acceleration in Toyotas be retracted. Gawker had previously uncovered Ross’s deceptive video editing, and Toyota’s complaint built on allegations first raised by the website. Ross’s reliance on Professor David Gilbert and Sean Kane of the Safety Research & Strategies also received a withering attack from Toyota General Counsel Christopher Reynolds. Kane and Gilbert’s financial relationship with several law firms pursuing suits against Toyota was revealed during congressional hearings, and Gilbert’s research has been insistently refuted by Toyota, none of which was mentioned in the ABC report.
In the early days of McLaren’s MP4-12C development, it was suggested that the new mid-engine supercar would use AMG’s 6.2 liter V8. As things got awkward between Mercedes and McLaren though, a mysterious “German-built V10” was rumored to be have replaced the AMG unit under at least one testing prototype. In the end, McLaren built its own engine, the M838T. It’s a twin-turbocharged, direct-injected, 3.8 litre, 90° V8, developing about 600 horsepower at 8,500 RPM. 80 percent of its 442 lb-ft of torque is reportedly available under 2,000 RPM. Also, it looks like mechanical sex.
Let’s face it: it’s not the best time to be launching any new automotive brand just now, let alone a brand built in Formula 1 and offering only a single, $250,000 product. Throughout the industry, OEMs are abandoning or distancing themselves from motorsport, as the old “win on Sunday, sell on Monday” logic proves to be an ever-fading anachronism. And yet here is McLaren Automotive, launching its first new road-going supercar in over ten years, with the the help of two F1 champs. Can an automotive brand survive selling high-priced symbols of racing prowess, at a time when racing (particularly Formula 1 racing) is becoming ever-more divorced from road car realities? More importantly, can it take on the lions of the supercar world with mere techno-wonkery? (Read More…)
Alfa Romeo has launched an official fine art collection, which can be found at www.alfaromeoart.com. With their gracious permission, we bring you this selection of some of the luscious images now on sale there. Too bad none of them answer any of the pressing questionsfacing Alfa today.
Even in the few months I’ve been here, I’ve been encouraged by the progress we’ve made, but when it will all come together is impossible to say… We’ll do it when we’re ready
GM’s CFO Chris Liddell talks IPO with Automotive News [sub], without apparently ever using the word IPO. Or saying anything that didn’t reek of the vague optimism that defined GM’s ancien regime. How would Liddell characterize the chances of a 2010 IPO? “I wouldn’t go beyond possible.” A 2010 profit? “[there’s a] reasonable chance.” How bad was GM’s finance department when you showed up to start cleaning? “Not as bad as has been characterized.” Mr Liddell went on to describe the sky as being “blue-ish,” and said that moving to Detroit “wasn’t as bad as people said it would be” [Ed: he didn’t, but you get the picture]. As insightful and reassuring as Liddell’s journalist stiff-arming skills are, what his taxpayer investors really want to see from him are the company’s first post-bankruptcy, GAAP-approved financial results. GM has said those results will be reported by the end of this month, while warning that they might not be pretty. And that was before it got into an incentive war with Toyota.
Along with flying cars and hydrogen fuel cells, the mid-engined Corvette occupies the most spurious level of automotive rumor-mongery. GM has a deep, rich history of flirtation with the idea of a mid-engine ‘vette (too deep and rich for us not to commission a forthcoming brief history from Paul Niedermeyer), but even in the last three years the engine configuration of the C8 Corvette has attracted intense speculation. In October of 2007, Motor Trend kicked off the modern era of mid-engine ‘vette rumors with a lengthy piece which “revealed” that
GM vice chairman Bob Lutz reportedly has been pushing for a mid-engine C7… We hear Lutz is backing down from his support of a mid-engine C7, though other powerful GM execs reportedly still favor it. Those at GM who prefer an evolutionary, front-engine C7 are facing a tough battle.
Almost exactly a year later, MT took it all back. With GM facing bankruptcy and bailouts, plans for a new Corvette were put on hold and the RenCen pendulum was swinging back towards an evolution of the front-engined C7. And yet now, with bankruptcy still less than a year in GM’s past, the mid-engine Corvette rumors are bubbling back up again. (Read More…)
Nissan has had a $25k target pricetag on its forthcoming Leaf EV for some time now, as it’s built hype towards the car’s commercial rollout later this year. That price will be crucial in taking on GM’s Volt EREV, which is said to retail somewhere in the $40k ballpark but offers a range-extending gas engine. Allcarselectric.com got a little more detail out of Nissan execs, and reported back in November that
According to Brian Carolin, Nissan’s marketing executive for North America, the cost of the upcoming Leaf will be equivalent to the monthly cost of a fully loaded Honda Civic, plus the cost of its monthly fuel bill. To simplify pricing Carolin broke it down as such, “That means the purchase price (about $28,000) or comparable monthly payment for a high-end Civic plus the cost of the gasoline it would need to cover 1,200 miles (at 30 MPG and $3/gallon, about $120.”
In their latest report, the Congressional Oversight Panel suggested that GM’s formerly captive finance arm GMAC shouldn’t have been split from the automaker it still supports. If this led you to believe that GM would take the troubled finance firm back under its corporate wing, you have another thought coming. The WSJ [sub] reports that
The idea appealed to GM, in part because auto maker would have more control over lending practices. GMAC’s move in 2008 to dramatically restrict leasing amid the U.S. financial crisis helped trigger the spiral that sent GM into bankruptcy the last year… But taking over GMAC would have many complications. GM sold a majority stake in GMAC in 2006 as a way to buck up the auto maker’s credit standing and its access to capital. As it turned out, GM still remains largely cut off from the markets.
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