Now that we’ve nailed that whole cupholder thing, it’s time to tackle the important stuff: trunk hinges. I reckon trunk lid hardware is an excellent indication of a given model’s overall build quality. Bad hinges, bad car. Great hinges, great car. There’s a range of important factors here: materials quality, appearance, reliability, longevity and action. To wit: I was appalled when I pressed the Maybach 57S electric trunk closer and watched the rear lid descend like an old, poorly made guillotine (don’t ask me how I know). My Odyssey’s tailgate closes in a more graceful arc. So, again, here’s the deal: email robertfarago1@gmail.com with your nominations for best trunk hinges, your rationale and a jpeg (or link to same). I’ll post them in a gallery. Then Eddy and I will choose the top ten based entirely on your wit and our whims. Thanks, in advance for your help.
Automotive News [sub] has seen an advance copy of an interview with president Obama on C-Span. Strangely, re: GM’s future, Barack doesn’t use the “b” word. But the prez does promise to return the automaker to private command and control. Eventually. “Ultimately, I think that GM is going to be a strong company, and we are going to be pulling out as soon as the economy recovers and they’ve completed their restructuring.” As my father is wont to say, how much is this boondoggle going to cost me? To recap . . . “The Obama administration has injected $19.4 billion to keep GM afloat since the beginning of the year, including another $4 billion on Friday. The government stake is commitment is expected to rise to $27 billion after June 1.” And the rest.
The Detroit News headline: “Obama Auto Bailout Draws Fire.” Suddenly, without warning, Motown’s hometown newspaper has changed sides. What was “their” bailout has become “Obama’s.” The altered allegiance comes hot on the heels Chrysler and GM’s decision to terminate around a thousand dealers apiece. This is not music to the domestic supporters’ ears; the dealer cull represents the complete, final and unavoidable end of Motor City’s domination of the American car industry. The fact that the domestics’ supporters are suddenly behind the franchisee push back—which could scupper both automakers’ future—shows the depth of Detroit’s denial. While the bailout boosters gave The Presidential Task Force on Automobiles (PTFOA) props for shit-canning GM CEO Rick Wagoner, you can file this one under no good deed goes unpunished.
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You’d be forgiven for thinking that the sale of “old” Chrysler to “new” Chrysler by June 15 was a done deal. Otherwise, why would Fiat feel free to tell the American taxpayer which three amigos will control “new” Chrysler’s Board of Directors (Fiat Chief Executive and future ChryCo CEO, Sergio Marchionne; Alfredo Altavilla, head of Fiat Powertrain Technologies; and former ExxonMobil executive, Lucio Noto)? Lest we forget, federal bankruptcy judge Arthur Gonzalez swept aside the non-TARP bondholders. But there’s growing, well-organized, politically-connected resistance from the terminated Chrysler dealers. In fact, their Congress critters are calling ChryCo’s (and GM’s) CEO onto the carpet next month, compelling them to testify why they done did it, reports Automotive News [sub]. As part of a rearguard action, Fiat has submitted papers to Arty that say “You don’t let us do this thing we must do and your people will suffer.” Minus the paraphrasing . . .
A member of our Best and Brightest is smarting from a recent ownership experience:
I am a Detroit born, car loving, long time fan of your site, so when I had this experience, I thought I would share it with you. A year ago I was the proud recipient of the second Smart car delivered by Smartcenter of Beverly Hills. The car performed flawlessly—until last Tuesday. I was on my way to the airport and stopped for gas. When I shifted the selector into gear, the car did not really care. It just sat there and the engine revved. I tried to push it, and the transmission was locked. I called my dealer because I knew there was roadside service, but I did not know the number. The receptionist picked up the phone and I asked for roadside assistance and she patched me through to a number. From the way they picked up on the other end, I did not think it was the right number.
Bloomberg reports that General Motors drew $2 billion more than previously announced, feeding the cash burn raging amongst the company’s embers (or something like that). May’s federal payout brings The General’s monthly total to $4 billion. Not including the new $7.5 billion payment heading to its former captive still current lender GMAC. Which is on top of the $5 billion already propping-up the eleventh hour bank. And the $1 billion given to GM earmarked GMAC. Anyway, re: today’s $2 billion overdraft, GM is characteristically contrite. “Today’s loan draw is higher than the amount forecasted in the April 27, 2009 S-4 Filing for the Bond Exchange Offer and reflects updated timing of when certain expenses would be incurred. Total U.S. Treasury funding received by GM to date is $19.4 billion.”
GM’s troubles are hitting home. ALL its homes. Reuters reports that GM’s Korean division Daewoo—provider of the execrable vehicle known in the US as the Chevrolet Aveo—is getting the snot kicked out of it in its home market. “GM Daewoo is struggling. It is asking for additional loans from banks, including state-run Korea Development Bank, after using up $2 billion in credit lines.” Oops. Hey, did you know that Daewoo now accounts for a quarter of ALL of GM’s [soon to be formerly] worldwide automotive production? That’s a salient fact because we now learn that the Aveo’s replacement, codenamed T300 and scheduled for April 2010, has been back burnered. To January 2011. In theory. In practice, any such delay is most definitely not a good thing, as its fellow Korean, Hyundai, is planning to cap Daewoo’s ass [paraphrasing]. And anyone else at the bottom of the ladder, anywhere in the world, including China and the US. So can the Chevy Cruze fill The General’s small car gap? Place your bets here. Oh wait, you already have [via Uncle Sam].
According to the Detroit Free Press, opposition to the Presidential-Task-Force-on-Automobiles-administered Motown meltdown mishegos is “growing.” Who’d a thunk it? But wait! “They” are not voters fed up with dozens of bailout billions shoveled down a Chrysler and GM-shaped rathole. Nor are “they” free marketeers objecting to a sitting president telling a CEO to take a hike. Nope, the Freep is referring to Congress critters representing the Chrysler and GM dealers terminated with extreme prejudice. “Dealers were the focal point of a hearing by the House Judiciary Committee on Thursday under Chairman John Conyers, D-Mich., where industry critic Ralph Nader said the rescue plans were ‘a conclusive death star to tens of thousands of jobs.'” When asked by Rep. Lamar Smith, R-Texas, whether Obama’s auto task force was “unsafe at any speed,” Nader, author of a 1960s exposé by the same moniker on the dangers of the Chevy Corvair, replied: “Can we please stick with my metaphor?” No, seriously, he said, “Yes—worse than that.” Which is almost as nonsensical. [NB: Is there such a thing as a non-conclusive Death Star?] Anyway, here’s what makes this particular special interest group so special . . .
End of Days folks, when the president of the United States puts taxpayer billions behind a “merger of equals” between Chrysler and Fiat. The latest weirdness: The Detroit News reports that “Japanese automaker Mitsubishi Motors Corp. is in talks to supply vehicles to Saturn dealers if the brand and dealer network is sold this year.” Would that be the same Mitsubishi who’s ass has been repeatedly kicked by the U.S. market, to the point where most industry analysts figured it would give up and go home? The same company that built a thousand cars in the USA so far this year? The one that sold 55 percent fewer cars last month than the same month last year (3919 vs. 8878)? The same. Or not. “A Mitsubishi spokesman said he was unaware of the company’s interest in providing vehicles to Saturn’s dealer network.” Yes, well, never mind all that. There’s another player sniffing around, and that’s where the real action is . . .
Anyone out there keeping track of how much money the federal government has plowed into GM, as the automaker downsizes to death? The Washington Post reckons that the next post-bankruptcy tranche—the debtor-in-possession financing needed to cleave GM into “good” and “bad” bits and keep both balls in the air—will be $30 billion. The paper also claims that this will bring taxpayer’s contributions to $45 billion. The $15 billion difference, originally sold as a “bridge loan”? Forgiven. Gone. In exchange for their largesse, “the government plans to take at least 50 percent of the restructured company . . . and the right to name members to its board of directors, as it has at Chrysler, where the government will control four of nine seats.” Although this bailout madness began last year, if we use IHS Global Insight’s recently recalculated GM production figures (GM will build 1.7 million vehicles this year), $45 billion represents a federal contribution of $26,470 per car. That’s provided you don’t add-in Uncle Sam’s $13.5 billion “investment” in automotive lender GMAC. And all the other stuff.
Start with this: Automotive News [sub] reports that FoMoCo is set to out-produce cross-town rivals General Motors this year. This according to auto industry analysts IHS Global Insight. “Ford will rank first with North American production of 1.9 million units, a 17.7 percent decrease from 2008, IHS said. GM, which is shutting most of its plants as it braces for a possible June 1 bankruptcy, will build 1.7 million vehicles, about half as many as it did last year.” A fifty percent production decline. Whoa. And what’s with the probable on the GM C11? AN should’ve saved the modifier for GM’s projected production; it’s entirely possible they won’t even build that many. Especially if/when Nissan/Renault buys-up the bits. As you might imagine, “new” Chrysler keeps on slipping, slipping; into the man-u-re . . .
Now that Jack Baruth’s editorial series “Maximum Street Speed Explained” has hit the servers, more than a few of TTAC’s Best and Brightest have hit the roof. A few of them felt so strongly about the inadvisability of the rants’ publication that they’ve followed Elvis’ example and left the building. I can understand that. Road safety is an emotional issue. As Lord Humongous said, “We’ve all lost someone we love.” Or worry about same. But, in this case, my empathy does not extend to self-censorship. In other words, I stand by my decision to publish Jack’s editorials. Before I present my case, I want to get a few things out of the way . . .
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