Race Day is rapidly approaching for TTAC’s foray into the 24hrs of LeMons. Not good.  We have a 240Z body with a roll cage, most of a suspension and not much else. Granted the re-gasketed 2.8L short block met the high compression 2.4L cylinder head and there’s a blizzard of parts lying around, but the car just isn’t done. Hurricane Ike didn’t do us any favors, not to mention yours truly nearly broke his finger with a ball joint, a rusty control arm and a torquey air ratchet.  So after the obligatory tetanus shot and mad props to the efficiency of “Urgent Care” centers sprinkled across the city, I found my way back to the drawing board.  Namely, the Internet.  I never thought a street-stock flywheel had the potential to be a race-ready part, but I was wrong.  After coaxing my local mechanic (you want to do WHAT with my brake lathe?) I spent hours shaving 2+ pounds off the flywheel: its top hat shape gave way to something reminiscent of a lightweight, deep dish pizza pan.  This right here is bang for the buck, and why you build a LeMons beater in the first place. Um, provided it’s ready to race.

In fairness, Lieberman might say he’s not grumpy about the Audi S4 having only 333 horsepower, since the last generation S4 with the V8 cranked out 340 ponies. That’s a decrease dude, and in the car biz it’s nearly unheard of (unless you’re Acura, in which case it’s typical to botch successive generations of a model). So what gives? The new supercharged V6 has a little more torque than the outgoing V8, better fuel economy, and is a little lighter. But what’s really going on here, in this writer’s rarely humble opinion, is that Audi is repositioning the S4. Where it used to be a dead on competitor for the BMW M3, they’re pitching it now at the BMW 335i. The real Audi competition for the M3 is the RS4, which matches the M3’s insanely high-revving V8 and approximates the horsepower at 420. In the meantime, the S4 does what the 260 horsepower A4 3.2 can’t – go toe to toe with higher horsepower cars from the competition. The big question then is whether Audi will be able to price the S4 low enough to make it a viable BMW 335i/Infiniti G37 alternative. My gut says no, not gonna happen. The S4 will price itself out of the competition.

Chrysler unveiled some primo bailout bait today: three electric vehicles (EVs). Choosing CNBC as point man, ChryCo’s CEO showed-off a fully electric Dodge sports car and a Jeep and minivan hybrid. While the press has been suitably impressed, pistonheads who’ve been following (and following and following) the hoopla surrounding GM’s plug-in electric – gas hybrid Chevrolet Volt are settling-in for the long haul. Meanwhile, we must endure Auburn Hill’s spin on the whole “future vehicles” thing. Or do we? Here’s Chrysler press release…

Chrysler dropped the other shoe, pre-bailout PR-wise. It’s officially official: ChryCo’s ironically named ENVI group is creating three new electric vehicles: a Dodge sports car (based on the Lotus Europa), a Chrysler minivan and a Jeep. Chrysler claims the plug-in models will go into production as a “fleet” of 100 vehicles next year. They’ll go on sale to the general public in that most magic of model years 2010. The quick and dirty: the Dodge sports car is electric-only, with Chrysler claiming a range of up to 150 miles. The Jeep and Chrysler minivan have theoretical ranges of a Volt-like 40 miles, with “small” gasoline engines on board to “power the electric-drive system.” This sounds more like a generator to recharge the batteries, rather than an engine to simply power the car once the go-juice runs out. Recharge time for the sports car is claimed to be 4/8 hours, depending on your household voltage. As for the Jeep and minivan, they would also plug-in to recharge the batteries; the ICE is for long drives only. As for the type of batteries, site of production, or most importantly – price – we have no idea. Chrysler, LLC may not have any idea about those either.

Update: Between the Lines Editorial Posted Here

In today’s podcast with Jonny Lieberman (now featuring cross posting over at Autofiends.com), we discuss Lamborghini among other topics. Lieberman has a raging semi for the Italian bull brand, and I think that among the new ones they’re just ok. While I’m glad Lamborghini exists to make stupid, brazen, crass cars, I’d never own one. And certainly not as a daily driver. Old ones, sure, but the new Audified Gallardo? It’s got a ten cylinder tractor engine. So while a number of folks are reporting today on the rumor that Lamborghini is planning a front engined four door sedan along the lines of the Aston Martin Rapide and Porsche Panamera, I’m not interested. The only four door Lambo for me is the LM002 – also known as the Rambo Lambo. Otherwise, they can take their “nuclear frog green” paint color and sod off. Listen near the end and Lieberman even skirts my question about whether he’d prefer a Lambo sedan or a Lambo shooting-brake. One thing’s for sure though: Pebble Beach 2050 is going to be fantastic.

We’re trying something new here at TTAC. Some folks really love the Farago + Berkowitz podcasts that focus more on industry and on what’s in the TTAC news. Others said that while they liked those, what was really up their alley were podcasts where I just had your average bar talk with Lieberman about cars. So why not both? While we don’t plan to have, say, eight divisions of podcasting, this way you get up to 20 minutes per day of TTAC podcasting, plus your choice of focus. And on the topic of doubling, the Berkowitz/Lieberman car chats will be posted over on Lieberman’s main master – Autofiends.com – as well. In today’s cast with Robert, we hit on the Mazda2, Edmunds, and Rick Wagoner.

Edmunds has a new review on the InsideLine home page. “BMW M3 vs. Audi RS5. V8 German Supercoupes Face Off.” And they subtitle it “2010 Audi RS5 meets 2010 BMW M3 CSL.” Except that they don’t face off and they don’t meet. There is no RS5 as of yet. And BMW cancelled the M3 CSL program. Edmunds has no review to offer here, and instead puts forth an anticipatory preview of what the two cars might be like in contrast. The ample pictures of the cars in motion are photochops. This isn’t the first time Edmunds has pulled the “click on our link” bait and switch, either. In February, before either car was on sale or available for even the most committed online buff book (Edmunds Inside Line) to drive, EIL “conducted” a comparison test between the Camaro and Challenger. This kind of dishonesty is not necessary. There’s nothing wrong with titling a post a “prospective preview” or publishing it as TTAC has done: as an editorial. But to mislead people into thinking that this is a “face off” between two cars is nothing but misdirection. In Edmunds case, it is particularly difficult to tell this is just a stats-based preview because they so regularly have access to preproduction cars. So it’s plausible that they could have driven the 2010 RS5, even if they are describing it as “coming down the pipleline.” I’m not as angry as I sound, but it’s crucial to keep in mind that when large websites squander the advantages – and the clean slate – offered by being online, they leave themselves looking no different than the print buff books.

GM’s burning its way through a reported $1b per month. So shelling-out $250m on a new research and development campus in Shanghai is no biggie. And here’s some PC for your PC: a significant part of the new research facility will focus on developing new green and alternative energy technology (whatever green means). When fully operational in 2009, the new facility will employ some 2500 people. And for those of you inclined to say “yeah right,” General Motors’ Asia Pacific President Nick Reilly says any problems in the Chinese market are all in your head. “Reilly attributed the downturn in the auto market to the Beijing Olympics in August, a sharply declining Chinese stock market, and an increase in fuel prices in June,” the GM suit told CNN Money. “But he added that ‘underlying demand is still there.’ Reilly said he expects vehicle sales to return to double-digit growth this month or next. He said he expects China’s auto market to maintain 10% to 15% growth after this year, without elaborating.” Elaboration? We don’t need no stinkin’ elaboration!

While Americans apparently go ga-ga for Honda’s Fit hatchback, other parts of the world get a Fit-based (or related) Honda City. While the City doesn’t share body panels with the Fit, they ride on the same light and compact platform. With the same 120 horsepower 1.5 liter 4-banger available in many markets, the City would be pretty zippy too. Frankly I think the City looks much better than the Fit – even if you have to give up beloved hatchback utility. I might go so far as to say it’s the best looking currently produced Honda sedan. The interior is a step up, as well. Honda would have zero problem selling these by the bushel in the U.S., but then they can’t even keep up with demand for the Fit right now. And a City sedan might just cannibalize Civic sales even more than the Fit already is (though the Civic is keeping up by cannibalizing Accord sales, it’s all good, as they say). Click on over to Carscoop for a full gallery.

People say it’s great to be a weatherman because you get to be wrong most of the time and still get paid well. That’s the only other job besides being a GM executive for which your company can totally tank – as a result of your action (or inaction) and stick around and pick up millions upon millions of dollars in compensation. If you think about it, people like Bob Lutz aren’t the smartest people in the world (that didn’t take too much consideration); they’re just the luckiest. So that’s my new goal  – be Bob Lutz. Or maybe Richard Fuld, or Rick Wagoner. Meanwhile, in today’s podcast Jonny Lieberman and I talk about Bentleys, Kias through Koreatown in LA, and mullet cars.

Acura has released pricing on the all new 2009 TL, and it ain’t pretty. Nor cheap. The days of an Acura TL in the low 30s are long behind us (though the Acura TSX will happily take your dough), as their “mid-range” sedan is now starting at $35,175. The previous model Acura TL started at $34,485. Should you want to give Acura more of your money, you can opt for a whopping $4270 technology package that includes navigation and hopefully some kind of guided missile system. If the base 3.5-liter V6 with 280 horsepower just doesn’t cut it for you, and front wheel-drive is too 1998, then you can shell out $39k, 265 for the 305 horsepower 3.7-liter V6 featuring SUPER HANDLING ALL WHEEL DRIVE. Should this all be chump change to you because you really wanted a BMW 335i, you could consider the $43,995 TL SH-AWD with the bigger engine, technology package and 19 inch wheels with high performance tires. While this pricing is consistent with the TL’s competitors, it really underscores how this market moved from $30k -$40k, to $35k to $50k. That’s market segment inflation for ya.

Chevy’s upcoming Cobalt replacement sibling replacement, the Cruze, has been spotted out in the wild wearing New York dealer plates. In rental white and with black door handles, it looks pretty generic and just a little strange. Compared to the original press photos, it also looks pretty large, which is not necessarily a bad thing. As we’ve said before, the key for this vehicle will be whether GM can live up to their 40+ mpg promise for this car. If it can, that may be enough to cut into sales of vehicles with immense intertia, like the Civic and Corolla. The Cruze will ride on the Delta platform that is also set to underpin the Volt, which oddly enough is also targeting 40 miles as its range on a full charge. Maybe. And while the Volt is set to cost some $40,000, this Cruze should be available for well under $20,000 when it hits dealers in the summer of 2010.

Nobody in their right mind pays $200k for a car. Yes, I’ve seen the Producers (when you got it flaunt it baby!) And I know some people have enough “it” to drop a couple of hundred grand on a car without asking for their change in GTIs. But even if copious lottery winnings could overcome my ethnic aversion to pissing away large amounts of money, I would still think twice about spending that kind of money on the Bentley Continental GT Speed.

Think GM has it bad? Or that they’re too big to fall? Think again. Lehman Brothers has just announced it’s filing for Chapter 11 bankruptcy protection. The 158 year-old bank decided to exercise the nuclear option after attempts at bailouts and takeovers failed. Lehman Brothers owes $128b in debt, which will probably be paid out at 60 cents on the dollar. (For reference, General Motors has $43b in long term debt). Thousands of Lehman workers were fired immediately after the Chapter 11 filling. The rest were told that they will be paid through Friday, at the most. John McCain – who probably realizes getting New York’s delegates is beyond the limits of reality – told the International Herald Tribune that he was “glad to see that the Federal Reserve and the Treasury Department have said no to using taxpayer money to bail out Lehman Brothers.” Floyd Norris from The New York Times reminds us that Lehman claimed it had ample capital and liquidity as late as last week. Sound familiar? It should. General Motors is in a similar predicament– only worse. Along with Bear Stearns and Merril Lynch, incidents like Lehman are using-up the market’s feelings of shock and surprise at major business failure. If General Motors is hoping for a bailout, they had better get on it soon, or no one will throw money in their direction, even post-C11.

Porsche has released a nice shot of the front clip of its new Panamera uber-sedan. It’s good news and it’s bad news. The good news: it looks like the rest of the Porsche lineup. The bad news: can’t Porsche come up with a new design? They have the 911, which works, and then graft that face onto everything else they make. At one point, the front of the Boxster was considered so similar to the 911 that Porsche worried 911 buyers would go to other brands rather than risk being confused with a lowly Boxster driver (even if the Boxster’s mid engine and proper weight distribution make it the superior driver’s car). So while Porsche experimented with some great designs from an aesthetic standpoint as well as their aptitude for being great behind the wheel (924, 944, 968, 928), the $150,000 Panamera seems to rely on the old faithful maxim for Porsche: everything must look like the 911. Cool yes, but also painfully unimaginative.