Ron Bloom, the defacto head of the government’s auto restructuring task force (or what’s left of it), tells Reuters that the government wants to hurry up a GM IPO in order to get out of the “investment” as soon as possible. And as we’ve predicted, this means taxpayers will be getting the fuzzy end of the lollypop.

Private markets would like to see us exit this investment, and I think they will be more comfortable if we’re on a sustained path out the door than if they think we’re going to try to market time it to maximize return.

And really, why would taxpayers expect any kind of a return from $50b dumped into one of the most prolific wealth destruction machines in recent economic history? So when will this IPO/giveaway take place?

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The engine in question is Fiat’s 1.4 liter “Fire,” planned for use in the Fiat 500 as well as planned Dodge and Chrysler B-segment hatchbacks. Automotive News [sub] reports that the Michigan Economic Growth Authority has authorized ten years worth of employment tax credits if Chrysler builds the engines at an unused plant in Dundee, MI. But the credits are only worth an estimated $4.6m, and MEGA admits that that building the engines in Mexico would be cheaper for Chrysler. The most important factor: the engine will primarily power the Fiat 500, which will be built in Toluca, Mexico. Since most of the 500s built in Toluca will be headed to the Brazilian market, Michigan engine production makes even less sense. And since there won’t be any other North American products using the 100 hp, 92 lb-ft engine until 2013 (if the Fiatsler experiment even makes it that far), there’s almost no reason for Michigan to build these engines. Still, with 250k units planned annually, it’s no wonder MEGA dangled tax credits anyway. Besides, there’s one more wrinkle: one of the ways Fiat can gain another five percent of Chrysler’s imaginary equity is to “manufacture state-of-the-art, next-generation engines at a U.S. Chrysler facility.” Fiatsler is bringing Fiat back to the US as a one-model-brand (500) with a dedicated sales and support staff just to meet one of these government benchmarks… will they be crazy enough to build an engine in Michigan and ship them to Mexico to meet another?

Maybe Auto Bild missed the memo that police fleet Ford Crown Victorias have been called “Interceptor” since 1992. Either way, they’re arguing that Ford’s new “all-new Interceptor” should be a production version of 2006’s Ford Interceptor Concept. “With it the police’s new transportation would not only be more modern, but also properly cool,” they deadpan. “Ford has to assert itself to remain the dominant supplier of service vehicles. Starting with the Interceptor wouldn’t be bad: the concept looks cool. Next to it, the Crown Victoria looks like a real dinosaur,” is the sage conclusion. Not to mention a luxuriously spacious vehicle. Sorry guys, but short of the Interceptor’s influence on the Taurus (which will most likely underpin the “all new Interceptor”), this one sounds way too cool for reality.

To paraphrase Kurt Vonnegut, the Maybach experiment was a conspiracy between Daimler and the rich to make the rest of us feel smart. The ultimate zombie brand, exhumed during the go-go nineties as a way for Daimler to charge even more for a stretched S Class, has now fallen on troubled times. And now, according to the ever-trusty limobroker.co.uk, none other than Mariah Carey has put the Maybach seemingly irrevocably in its place:

Initially a top class Mercedes complete with a chauffeur was sent to take Mariah to the studios, but this wasn’t deemed exclusive enough for a star of Mariah’s stature and was then replaced by a £250,000 Mercedes Maybach. However the Maybach limo was also rejected and then, third-time-lucky, a Rolls Royce Phantom was dispatched.

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Battery electric vehicles are widely seen as the most promising long-term automotive greentech, but they’re also hardly poised to take over the industry. A host of issues are keeping EVs out of mainstream acceptance, ranging from battery capacity issues to the lack of a charging infrastructure.  For a group of electric transportation-sector businesses though (including Nissan, which is heavily hyping its Leaf EV), it’s nothing $124b in government support won’t fix. A press release on the Electrification Coalition’s “Roadmap” explains:

The Electrification Roadmap presents a bold and specific vision: By 2040, 75 percent of light-duty vehicle miles traveled in the United States should be electric miles. As a result, oil consumption in the light-duty fleet would be reduced by more than 75 percent, and U.S. crude oil imports could effectively be reduced to zero… “It is absolutely crucial that all of the key elements of an electrified transportation system are introduced in a highly coordinated fashion and in a way that is effective, affordable, and appealing to actual American consumers,” [David Crane, President of NRG Energy] said. “Introducing all of the separate elements, from cars to infrastructure, simultaneously in select communities across the country will move electrification beyond the early adopters; policymakers will witness the national benefit derived from a new kind of transportation system while consumers will benefit firsthand from a new kind of driving experience.”

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The Ford Fusion is a perfectly competent yet utterly bland vehicle. It’s proof that American firms can compete in the mass-market vanilla sedan segment, but not because it does anything particularly well. Its strength is nothing more than an absence of the glaring issues that kept Detroit out of the Accord/Camry sweepstakes. Which is why Motor Trend doesn’t get overly carried away with the credibility-straining praise of the vehicle itself (with the requisite glaring exceptions, to wit: “the Fusion SE goes from mild-mannered commuter to worthy canyon charger”). So instead, the praise gets spread to the lineup as a whole: “the 2010 Ford Fusion’s impressive bandwidth as a model range was one of the many factors that helped it earn the 2010 Motor Trend Car of the Year award,” we’re told. What this boils down to: you can get a hybrid powertrain in addition to four-pot and six-pot engines. In short, MT gave the Fusion COTY because it does everything a Camry does, but, crucially, it’s from Detroit. Well, Hermosillo, Mexico, actually. Still, its advertising budget still comes from Detroit, and that makes all the difference.

Automotive News [sub] reports that the newest addition to Chrysler’s new Ram brand will be the Fiat Dobló, a compact van in the style of Ford’s Transit Connect. The latest generation Dobló has been previewed, and will go on sale in Europe early next year. The Rambló will hit the US market in 2012, and like the Transit Connect, it will be built in Turkey and imported. Like Ford’s Turkish hauler, the Dobló will likely be imported as a passenger vehicle to avoid the infamous “chicken tax” and will be converted for commercial use upon arrival. European versions get a number of diesel and gas engine options (with CNG and electric options planned), but there’s no word on what choices the US market will be given. Meanwhile, how big of a crosshair grille will fit on that thing? Or, to put it differently, how will this Euro-derived efficiency-oriented urban hauler jive with the Ram brand’s overbearingly bro-magnon branding?

The Freep is reporting that GM’s Renaissance Center headquarters could be at risk if so-called “retention tax credits” aren’t amended. GM is consolidating more of its workforce at its Warren Technology Center, and 1,500 of the RenCen’s 4,000 GM workers are reportedly making the move out of downtown. The remaining 2,500 workers would stay only if a Michigan Economic Growth Authority “retention” tax credit makes it worthwhile. The necessary amendments to this tax credit have been made, but MEGA still has to approve the package. A memo to the Growth Authority reveals the stakes:

2,500 is the maximum that they can also take for this portion of the credit. General Motors has submitted an application stating that the headquarters is at risk without this credit.

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The die is cast. Robert Farago, the man who founded this site nearly a decade ago and nursed it into relevance and notoriety, has left the building. Those of us who remain behind take his burden onto our willing shoulders, dedicated to realizing his dream of a car blog that covers the most relevant industry news and delivers the most unflinchingly honest reviews, commentary and analysis. Though much has changed since TTAC’s founding, the need for the truth about cars has not diminished. The automotive media remains a haven for craven cowardice, mutual back-scratching and unquestioning obsequiousness, and our inviolable mission is to provide consumers and observers with perspectives that stand in stark contrast to the industry business-as-usual. Though no site can remain unchanged after the loss of such a prolific founder, Robert’s work over the past decade is the blueprint for our future. The truth must be told, and we’re forever grateful to Robert for showing us the way and, in the process, building up an outlet that is irrevocably dedicated to these ideals.

On a personal note, I’m humbled by the task of filling Robert’s prolific, principled and notorious shoes. I’m also eternally grateful to Robert for his faith in me over the past 18 months. Thanks to his trust, generosity and patience, I have the honor of replacing him in what may well be one of the best jobs in the world. Thanks to his high standards, tough criticism and brutal honesty, I feel capable of doing some justice to his vision. Thank you Robert, for creating this site, for mentoring me, and for making an indelible mark on the autoblogosphere. It’s been a true honor.

Are more losses showing up on your post-bankruptcy financial statement? Are uptight Europeans and Republicans making your overseas division rescue harder than it needs to be? Is the thought of another year defined by Consumer Reports mediocrity getting you down? Good news! GM’s court jester Bob Lutz hasn’t been shipped off to chair Opel just yet, and he’s been sprinkling the autoblogosphere with his patented enthusiast-baiting niche product hints.

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Wired has some fantastic coverage of Aptera’s coming-of-age struggles, which have been come to a head since the firm received permission to tap the federal ATVM loan program, the most important rite of passage for boutique EV startups. In short, the auto industry insiders led by Paul Wilbur, formerly of Ford and Chrysler, were delaying production for reasons that made little sense to the firm’s founders. One passage by Wilbur poignantly indicates the nature of the rift:

For months we have been receiving important feedback from you, our depositor community, and we have come to realize there were flaws in our initial product assumptions — specifically as it pertains to satisfying the needs of real-world consumers. Our greatest degree of learning came just a few months ago when we asked all of you to participate in a brief survey. This critical piece of research requested insights about your expectations for our company and our products, and we discovered a notable disconnect between our product plan and realistic expectations. Some modifications had to be made. For example, you helped us realize that some trade-offs for convenience (like being able to grab a burger in a drive-thru) might be necessary to make the ownership experience more palatable, even if it cost us a couple tenths of a point on our drag coefficient.

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Since blaming individual stupidity is no longer in fashion, someone get a lawyer on the phone!

GM’s first post-bankruptcy financial data has arrived, underscoring in red ink the folly of the government “investment” in the shambling zombie once known as General Motors. Bankruptcy-driven improvements in cost structure have not prevented GM from turning a non-GAAP-certified loss since emerging from Chapter 11, and GM is already warning that 4th quarter results will be even less attractive. More importantly, beneath all of the interpretation of this latest batch of weak results, rests the biggest lie of all: GM will be paying back the taxpayers. GM has simply defined the terms of its debt as $6.7b, or about half the amount remaining in its $16b bankruptcy-present escrow account. The plan is to have the taxpayers pay off GM’s debt to the taxpayers, and collect the remaining $6b or so for operating cash.  When called on the ruse, GM CEO Fritz Henderson has only one defense: Taxpayers will receive their just reward only when GM’s IPO relieves them of their 60 percent equity stake. But even with the goalposts moving up in hopes of a PR win, there’s little evidence that GM will come close to paying off their full bailout bill.

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Time Magazine goes ahead and gives an unproven, unavailable vehicle a “Best Invention of 2009” award.

Volkswagen will continue its pioneering work testing the boundaries between platform-sharing and brand-engineering, reports Autocar, with a new platform destined to underpin some 60 models globally. The modularen querbaukasten (modular transverse engine, or MQB) architecture will form the basis of models ranging from the sub-Golf Lupo to the Sharan MPV, starting with the next-gen Audi A3 which debuts in Europe in 2011. The key to the platform’s versatility is its adaptiveness to different wheelbases, tracks and wheel sizes. Says VW R&D Boss Ulrich Hackenberg:

It gives us the possibility to produce models from different segments and in varying sizes using the same basic front-end architectur. We can go from a typical hatchback to a saloon, cabriolet and SUV with only detailed changes to the size of the wheel carriers.

The new architecture will allow VW to replace some 18 engine-mounting architectures to a mere two, reportedly providing about  60 to 70 per cent parts commonality between Volkswagen’s biggest-selling models.