Over at Jalopnik, Patrick George discusses the recent trademark filing by General Motors for the Chevelle name. After a brief discussion regarding trademark procedure, George makes a logical conclusion; the Chevelle name may end up attached to something less than worthy, similar to how Dodge’s C-segment car ended up with the Dart moniker. But there is a potential ray of sunshine here for enthusiasts.
Lexus will launch a RAV4-based small crossover, intended to compete against the BMW X1 and Audi Q3. Automotive News claims that the new crossover will be a hybrid and debut at the Geneva Auto Show, with a concept premiering at November’s Tokyo Auto Show.
The new crossover may not make it to North America. The compact premium SUV segment is very much a European-centric segment – for now. The success of the X1 may cause Lexus to change their minds about the new baby crossover
March was the 5th straight month of a SAAR above 15 million vehicles. Industry analysts have explained the strength of the market in a number of ways. The need to replace older vehicles is one (new car sales were hit hard during the recession as consumers held on to their vehicles for longer. This also caused used car prices to skyrocket, something TTAC has been documenting), while others have cited increasing fleet demand, and the desire to replace vehicles damaged in Hurricane Sandy.
But one factor that is just starting to get attention outside of TTAC is sub-prime financing. Sub-prime lending, which involves giving high-interest loans to customers with poor credit scores, is driving the SAAR in a big way, by letting buyers with poor credit purchase new cars. In turn, the sub-prime bubble is being driven by Wall Street, whose clients cannot get enough of financial instruments backed by sub-prime auto loans.
A weak yen and a slew of new models has Mazda within sight of profitability. With Mazda heavily dependent on exports, the yen’s 16 percent decrease in value relative to the U.S. dollar could not have come at a better time for Mazda, as it readies a whole slate of new products for sale.
The days of having to wait for a new model to roll out across different regions may be over. Honda is using its regional R&D centers to help speed up introduction times for the next-generation Fit, something that could become the norm over the next few years.
The Chrysler 300 is already equipped with a diesel for world markets, and there’s a possibility we may see an oil-burning 300 on our shores as well.
No works council without representation. Those are the words of UAW President Bob King, in an interview with Autoline Detroit, when asked about a possible works council at VW’s Chattanooga assembly plant.
Yesterday’s Tesla “lease offer”, (which turned out to be Elon Musk’s “big announcement”) was a classic display of Tesla’s penchant for theatrics. On the surface, the move is a smart one; most customers in the large luxury sedan segment tend to lease their cars, so Tesla’s move is nothing out of the ordinary.
GM will have two new mid-size pickups out in 2015, just in time to steal the spotlight from the all-new Ford F-150. And according to TTAC Commenter and GM exec Mark Reuss, the two trucks should have fairly different missions.
Anyone looking for an anecdote illustrating the QE-fueled madness that is subprime auto lending, take a look at this Reuters report on what constitutes a down payment in the subprime world.
And still, though Nelson’s credit history was an unhappy one, local car dealer Maloy Chrysler Dodge Jeep had no problem arranging a $10,294 loan from Wall Street-backed subprime lender Exeter Finance Corp so Nelson and his wife could buy a charcoal gray 2007 Suzuki Grand Vitara.
All the Nelsons had to do was cover the $1,000 down payment. For most of that amount, Maloy accepted Jeffrey’s 12-gauge Mossberg & Sons shotgun, valued at about $700 online.
VW and Fiat are in talks regarding a possible sale of Alfa Romeo. The sale of Alfa Romeo to Audi would also include the Pomilgiano assembly plant in Naples, which once made Alfas, but currently produces the Fiat Panda. Magnetti Marelli, Fiat’s famed parts maker, may also be included in the deal, as Fiat looks to raise cash so it can buy the remaining shares of Chrysler off the UAW’s Voluntary Employee Benefits Association. Read More >
Honda and the Big Three posted the biggest gains this month, and we’re getting word that March’s best-selling car was the Nissan Altima, followed closely by the Camry and Accord.
For anyone like myself – that is, a car fan who grew up in the 1990s and watched Japan’s sports cars disappear from the American market in one sudden swoop, news that Japan’s once mighty auto industry is being “hollowed out” might come as a shock. The cars that defined my youth – the RX-7s, Supras even the VTEC Honda compacts, are a distant memory. Most of what Japan offers on our shores are aimed at the mainstream, while at home, kei-cars and hybrids dominate the market.
A lot of the criticism leveled at Japan is that their focus on the mainstream market and alternative powertrains is what sparked their auto industry’s current malaise. But this is a superficial and fallacious assumption that supposes that the glut of superb Japanese cars in the 1990s is a baseline for our expectations of what a Japanese auto maker should be building and selling. In fact, it is an aberration that will never occur again.
The MPV segment, so popular in Europe, was basically invented by the French. The Renault Espace, the grandfather of the modern minivan, was originally supposed to be a Peugeot, until PSA deemed it too expensive and sold it to Renault. Nearly two decades later, Renault disrupted the segment again with their compact Scenic minivan, which spawned imitators from nearly every single brand.
Just ahead of their Q1 2013 earnings called, Tesla announced that they were profitable in the first quarter of the year, with deliveries exceeding their own targets. In addition, Tesla has also decided to discontinue the base trim of the Model S due to a lack of demand.
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