We've reported that Delphi was a little tardy on making its required pension contributions. Some $323m short, to be precise. Even so, Delphi said it wouldn't be transferring its obligations to the Pension Benefit Guarantee Company (PCBG). The Detroit News reports that the PBGC is switching into proactive mode. "We will act forcefully to protect Delphi's pension plans," the PCBG's director warned. "Especially in light of the company's decision not to seek renewal of its pension funding waivers." Charles E.F. Millard ain't just whistling Dixie. "We will draw down certain letters of credit and keep liens in place on the company's assets until Delphi has successfully emerged and made its pension plans whole." As Delphi won't be seeking an extension of it's pension-funding obligation waiver from the IRS, the PBGC will cash some $173m in Delphi credit when the deadline expires (23rd of May). Delphi spokesfolks say the company "expects to be able to meet its pension funding strategy through a combination of cash contributions and transfers of certain unfunded pension liabilities to a plan sponsored by GM." Delphi's skipped $2.3b in pension contributions since declaring bankruptcy in 2005. At the end of 2007, the former GM parts division was carrying an unfunded pension obligation of $3.3b. So who's gonna end up with that hot potato? 

Automotive News [sub] reports that Opel is moving upmarket. It's GM's attempt to "democratize technology" and emphasize their Euro-brand's "traditional German manufacturing attributes." The new strategy is designed to move Opel away from its image as "the European Chevrolet"– so that Chevrolet can become the European Chevrolet. "Opel and Chevrolet will be bookends with a clear position for both," GM-Europe President Carl-Peter Forster promises. "Over time, we will emphasize Opel's German heritage, engineering and design." But don't worry: GM plans to keep the German domestic affordable. "We are not talking about a premium price for Opel," Forster said, "but a one percent to three percent increase is foreseeable." Design, technology and image are all part of the brand touch-up– not, Forster insists, a "reinvention." Yes well, Europe is facing a premium small car glut as Fiat, MINI and others seek full-sized profits from compact cars. With GM dependent on overseas sales to keep the wolf from the door, Opel had better hope this gambit pays off.

It ain't easy being a small independent sportscar maker. Just ask Spyker. The Dutch firm lost $110m and a Formula One team last year. While Lotus knows exactly what hard times look like, they reversed the curse by eschewing flashy F1 campaigns in favor of a profitable technical consultancy and contract manufacturing (including the Tesla Roadster). The Motor Authority reports that Spyker and Lotus are facing the future under the umbrella of a "Parts and Platform Commonality Agreement." Lotus will  source parts and assist in the design of forthcoming Spyker C8 Aileron and D12 Sports Utility. Spyker will… pay for it. The two firms have worked together in the past; Spyker considered buying Lotus back in the day. With a Lotus-fettled Spyker at the top end of the market, is there still room for a new Lotus Esprit? No.

California's Air Resources Board (CARB) has been a Detroit boogeyman for some time, occupying the angry, bitter section of auto exec's hearts (normally reserved for the UAW and the folks who control Japan's currency). But The Detroit News reports that tensions may be easing between the industry and the the California cloudchasers. CARB Chairwoman Mary Nichols told reporters at the Society for Automotive Engineers (SAE) Government/Industry session that the board is considering modifying California's emissions controls to become regional, rather than statewide rules. Details are still emerging as to what exactly just what the Hell that means. And that means the thaw in relations is largely rhetorical, with the industry accepting that CARB regulations are basically unstoppable and CARB reaching out to quell manufacturer and dealer concerns. "We can have a national fuel economy policy and still allow California a role as a laboratory for innovative approaches to reducing carbon dioxide emissions," says Alliance of Automobile Manufacturers President Dave McCurdy, stressing that a national approach is better. Nichols, for her part, says the regulations will entail only "a small increase in costs" and "a little bit of creative repackaging." Meanwhile, Green Car Congress reports that California's Pavely regulations would reduce greenhouse gas emissions by 41 percent more than new CAFE standards, if applied nationally. How great is that?

We've known for a quite some time that Chrysler's partnership with Chery is a long ways off from bearing, um, fruit for the U.S. market. Automotive News [sub] reports that Chrysler has sent engineers over to China to ready the A1 for American importation. Again. Still. "We need small cars," says Chrysler CEO Tom LaSorda, offering a piercing glimpse into the obvious while riffing on that old flick "Mars needs women." "Chery's cars are still not ready for that exposure into these markets." Nor will they be until that mythic 2010 debut date. LaSorda said China-built cars probably can't meet U.S. safety and emissions standards for "three years or more." Chrysler can't wait to pop its Chery in the North American market. The company announced it will be selling death traps Cherys in Mexico under a Chrysler nameplate while engineers ready the diminutive Chinese whips for the American market. The Bertone-styled Chery A1 will be imported to Mexico by year's end. While "lucky" Mexicans get to enjoy Chinese-market standards in reliability, build quality and emissions, Yanks will just have to wait before experiencing the joys of Chrysler-branded Chinese personal transportation. Or not. Meanwhile, what?

The Detroit News, internationalists that they are, report that Renault/Nissan is entering into a joint venture with India's Bajaj motors to take on the ultra-cheap Tata Nano (a.k.a. the one lahk car). Bajaj will own fifty percent of the joint venture, with Renault and Nissan splitting the rest. Together, they'll build a new factory in Chakan, India, Starting in 2011, the facility should eventually bang-out some 400k entry-level rides per year, heading for both the Indian and Chinese new car markets. No details are available about the powertrain or standard equipment (wheels? side mirrors? doors?). Whether this sudden craze for inexpensive mass market motors becomes a cash cow or a money pit remains to be seen; the challenge represents one of Nissan/Renault's most ambitious international projects. Still, Renault found plenty of karma with their first forray at the bottom of the market with the [formerly Dacia] Logan. The Indian version, built with Mahindra and Mahindra was a big hit for all concerned. The Iranians also build a version, but that's a story for another day.

Nissan's GT-R recently raised some eyebrows by lapping the famed Nürburgring Nordschleife in a tidy 7 min 29 seconds, just barely missing the record held by the Pagani Zonda F. And now Cadillac, once known for its bewinged boulevardier behemoths, has stepped into the Green Hell. Caddy's 542 hp CTS-V emerged with a 7 min 59 second lap time, a feat claimed as the best ever for a production four-door car. Of course, everyone knows production-spec cars are strictly for suckers. So what's the fastest four-door to ever lap the 'ring? According to Wikipedia's list of Nordschleife times, it's a BMW X5 LM: a limited edition sport ute with a Le Mans racer V12 shoved under the hood. Back in 2005, that bad boy clocked a 7:50 lap. For reference, the CTS-V's 7:59 is the same as a Viper SRT-10, Carrera 997S, R33 Skyline GT-R, and STi Spec C. Quite what all this has to do with luxury cars is not clear, but it's good to be King. Isn't it?

Automotive News [sub] reports that Toyota is delaying opening its $1.3b Tupelo, Mississippi production plant from early 2010 to… sometime later that year. Toyota cites weakness in American sales and a tight credit market for the delay– which it downplays as a relatively minor adjustment. "We made adjustments within a certain range of time," Toyota Executive VP Mitsuo Kinoshita soothed. "The change wasn't that critical." The plant will employ some 2k Mississippians building about 150k Highlander crossover utilities. Toyota has seen its sales drop for seven of the last nine months, and recently announced an estimated 28 percent drop in profits. Toyota's San Antonio Tundra plant has already seen its production trimmed, as the global leader in auto sales volume struggles with North American overcapacity. With small, efficient Toyotas continuing to sell well, from the Prius to the Yaris and even the Camry, could Toyota simply switch production over from Highlander's to something that will, y'know, sell?

Autocar reports that British speed merchants McLaren are set to ulneash another of their own-branded supercars. The P11 ('cause an actual name would be way too mnemonic), the new whip is set to debut in 2010. Autocar is quick to point out that the P11 isn't designed to eclipse the previous gold standard (literally) in supercars: the BMW-powered, three-seat-abreast F1. The P11 will offer "just" 550 horsepower from its Mahle-sourced V8. To emphasize the P11's status as a driver's car– as opposed to whatever you'd call the Mercedes McLaren SLR AMG– the company will hang fire on the drop-top Spider version. (Explain?) A subsequent P12 should up the ante with a lighter chassis and a 600hp V10, which may or may not sound like a bag of bolts in a cement mixer at idle. Anyway, it looks like Macky's back in town. 

Automotive News [sub] reports that Hyundai/Kia have scrapped plans to build a mid-sized unibody pickup truck at their new plant in West Point, GA. Sources from Hyundai (PR department?) say the truck (thought to be inspired by Honda's not successful but we build it on the same production line as the Odyssey and Pilot so who really cares Ridgeline) would have been built on the updated 2010 Kia Sorento chassis, which is set to switch to unibody design. Instead, the Georgia plant will build a Kia small car, likely the Optima. Executives say a Hyundai-branded car may be built there as well, "if the platform is compatible." As consumers turn away from large body-on-frame trucks, you might have expected a yen for lighter, unibody trucks (just as VW's Rabbit-based pickup sold well during the 1970's fuel crisis). And you might be right. But Hyundai/Kia's not about to make that gamble. Not with so much riding on the (larger and heavier than typical for Hyundai) Genesis RWD vehicles. 

Big trucks have meant big profits for Detroit. Thanks to cheap oil, personal paranoia, a desire for an outdoor life that only the drudgery of daily commuting  could provide, the fairer sex' natural desire to see ten miles ahead at all times and a federal fuel economy regulation loophole big enough to drive an Expedition through, The Big 2.8 managed to convince Americans that body-on-frame vehicles were just dandy for personal transportation. With gas price increases showing no signs of slowing, one of Detroit's biggest truck chassis addicts is looking at kicking the habit. Bloomberg reports that GM, yes GM, is developing a lighter replacement for its biggest SUVs (Yukotahburbelade) that won't tow jack shit rely on a heavier pickup-truck frame. This, according to "people familiar with the effort." (Familiarity breeds PR.) It should be said (and soon will be) that GM has been relying on the same basic Silverado full-size truck platform its "light trucks" since 1965. Even if truck-framed transportation isn't about to disapper overnight, at least GM has taken the first steps to beating its addiction to "easy" profits. It has admitted it has a problem. 

Auto Motor und Sport's Erlkoenig spies have spotted Porsche's new Roxster baby ute being shaken down in camouflage. The fifth member of the Porsche model line is based on Audi's forthcoming Q5. There had been talk of the Roxster boasting a 400 hp version of the Cayenne V8, but carbon emissions rules have likely put that idea to bed. The same V6 slated for Ingostadt's iteration will likely power Porsche's cute ute (ugh). The styling appears to remain fairly faithful to the Cayenne's forgettable shape. Auto Motor und Sport thinks Porsche has attached bits of Cayenne to the Roxster test mule, but a shorter rear overhang and steep rear c-pillar give the Roxster a much more pert rear quarter than the billious Cayenne. Up front, the headlights appear more Cayman than the Cayenne. Look for the Roxster to debut in 2010 (our favorite year), sometime after the Panamera four-door GT becomes the fourth Porsche model line (counting the Cayman and Boxster as a single line). Clearly, BMW has to worry about X3 sales. But without a V8, will Porsche offer anything (besides a higher price and some brand snobbery) that the Audi doesn't? Let the spin begin!

GM is counting its unhatched Volt chickens while its battery system is still laying an egg by announcing a line of Volt-based Opel EVs which will hit Europe's roads in 2012… provided the Volt is actually ready by 2010. Auto Motor und Sport reports that the Volt's European launch should take place in 2011. The Opel EV will arrive a year later, using the same E-Flex drivetrain.  There will be two Opel models: a compact based on the Flexstream concept (pictured) shown at last year's Frankfurt Auto Show and a considerably larger sedan. Both vehicles will share the Volt's 40-mile EV range, as well as the small range-extending gas motor. Interestingly, GM also showed a Saturn version of the Opel Flexstream in Detroit, raising the possibility of a stateside bow for the badge-engineered Volt. Of course, if the all-important lithium ion battery development runs into problems, GM will be more than happy just to get a Volt out. Meanwhile, this announcement proves just how much is riding on GM's "moon shot." 

Fitch Ratings released a report yesterday warning that GM and Ford are facing a severe cash drain in '08. Fitch rated both GM and Ford at "B" levels, a non-investment grade. They blame the usual suspects for the poor outlook: sagging US sales, high fuel costs and rising manufacturing costs– all while Ford and GM seek to restructure. Fitch says the negative outlook on the two companies will persist until either the US economy improves or the firms prove to investors that their cash flow position has improved significantly (Fitch would not comment on a scenario involving Hell freezing over). Of the two, Fitch is more bullish on Ford. "In light of Ford's progress on its restructuring program and its product profile, it may achieve (positive cash flow) before the end of this year." But "liquidity drains at GM this year may result in its rating being downgraded further." Folks, we're talking an $8b '08 cash burn. That is one serious ouchie.

Autocar UK reveals the forthcoming high-performance sedans from BMW and Mercedes Benz. The new MB E63 AMG will be a "clean slate design," with only the monstrous 6.2-liter V8 returning from the current model. The uber-E's Nürburgring-tuned suspension– wider front track, a unique steering ratio and active damping (as well as a possible electronic rear differential– demonstrate AMG's newfound emphasis on handling. While the new E63 will share components from MB's C-class, don't expect the AMG derivative to come cheap though (as if). The UK price tag is over $100k. While Mercedes wrings-out its E63 at the 'Ring, BMW is busy developing its 2011 M5. The current M5 V10 engine will return, albeit bored out to 5.5 liters. Yes, but– "[the new M5] is also likely to get a direct injection, turbocharged unit, to reduce emissions. BMW is considering bringing stop-start technology and a part-time alternator (branded "regenerative braking") to the uber-5. But perhaps the best news: the Boyz from Bavaria are ditching the SMG, which RF dubbed "the world's worst gearbox." M5 fans will choose between a new six-speed manual gearbox or the new seven-speed M DCT double-clutch transmission.