Most car enthusiasts agree the E30 BMW M3 is getting dangerously overpriced. It is, after all, a 25-year old car with a crappy interior; they’ve all been miled to the moon; and most have been driven hard.
As I look at this week’s car, I’m starting to wonder why it doesn’t get the same rap. The Land Rover Defender 90 is arguably the poster child for overpriced: a box on wheels sold in North America for a few years in the mid-1990s until Land Rover got tired of conforming to harsh government regulations.
The standard cab, short bed pickup is a rare breed these days. Most trucks that leave the dealer lot tend to be an extended cab, if not a four-door crew cab, with a longer bed and all the bells and whistles typically seen on a luxury vehicle. For a couple years, Ram has had the monopoly on a hot version of the standard cab with the Ram Express, a Hemi powered no-frills Ram, which starts at just $23,400. Not anymore.
Car guys may mock the Toyota Corolla for its outdated powertrains and total lack of driving thrills, but no car dominates the landscape of Afghanistan in quite the same way.
There’s been all sorts of interesting stuff on the auction block lately, but surely the car above has the Seventies lovers in the audience all shook up.
Company on the ropes seeks tie-up with financially secure dominant global player
PSA Peugeot Citroen has its backs to the wall, and empty pockets. After casting around for the usual suspects in China, PSA is back to their American Friends at GM. PSA is ready to hand over the keys and control to GM, as long as the General keeps PSA from dying. Says Reuters: Read More >
While Doug and I are preparing our next installment of “Derek and Doug’s Fantastic Crapwagons“, this gem came across my desk thanks to a sharp-eyed reader.
Mired in the same overcapacity crisis as the rest of Europe’s auto makers, the founding family of PSA is reportedly willing to give up control of the company that owns Peugeot and Citroen in exchange for a fresh infusion of capital from GM, which currently owns 7 percent of PSA.
Over at Autobytel, Juan Barnett (better known as DC AutoGeek) takes a look at the history of auto financing, originally intended as a way for the common man to be able to afford an automobile some 90 years ago. The most striking thing is how attitudes have changed so dramatically over time.
Initially, bankers were calling for a ban on financing of personal automobiles, fearing that it would lead to financial imprudence. How times have changed.
In a 2008 letter to the Security and Exchange Commission, a collection of automotive finance companies argued against a proposed federal rule that would have made 60 months the maximum term for an automotive loan. The group said “[that the] 72 month term has become the industry standard,” and that it was critical to the American economy to allow banks to determine independently the risk as it relates to automotive loans. They argued that any mandated term limit would cripple the automotive industry. They were probably right.
Workers at GM’s South Korean plant will stage a partial walkout, ominously on Independence Day, July 4th, Reuters heard from a union spokesman. The walkout could turn into a full-fledged strike, union spokespeople said. Reports Reuters:
Now that I’m done reviewing Bob Lutz’s new book, I’m going to give a copy away, just like we do with all the accumulated swag over at TTAC Towers. There may or may not be some greasy fingerprints sustained during an attempt to read this book while eating a grilled cheese sandwich. But the price is right. If you want it, all you have to do is give me the most compelling reason why you deserve it. Email your answers to editors at ttac dot com. Contest closes one week from today.
The perpetual promise of Alfa Romeo’s return to North America has gone on for so long, it’s become the car guy equivalent of a religious belief that one day, we will be redeemed by Christ/Mashiach/The 12th Imam. Every year, we hear that Alfa is coming, only for it to be pushed back again and again. Now I’m wondering, why bother?
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