No? Never? Well, technically this isn’t a Buick, but an Opel Astra GTC OPC (at least according to Auto Motor und Sport). And given that Buick is holding off on bringing serious power to its Regal GS (at least until a coupe comes out of Germany), it’s fairly unlikely that they would bring a 290 HP, limited-slip, six-speed hot hatch to the Buick brand any time soon. Or is it? The line for “Mr Euro”-style self-delusion forms here…
The Swedish National Debt Office has approved Saab’s deal to sell property to its Russian backer, Vladimir Antonov, but the Swedish firm is still waiting on approval of the deal from the European Investment Bank. Saab’s production operations have been shut down for two weeks, since the automaker began having trouble paying its suppliers. The EIB says its must simply review the deal, which would include the sale of Saab’s property to an Antonov-owned bank as well as the release of the remainder of Saab’s EIB loan, although GM gets to review the deal as well before it goes through according to thelocal.se. And since GM has long opposed Antonov taking a large share of Saab, which owns rights to some of its latest technology, Saab is reportedly also talking to several Chinese firms about partnerships that could save the struggling automaker.
Typically, when a focused, well-branded company like BMW buys storied brands and then tries to combine them, the results are less than ideal for all involved. Thus far, BMW had actually been doing a fantastic job with its MINI and Rolls-Royce franchises, expanding into new niches while revitalizing potent brands with high-quality products. But putting the two together? It’s not clear how many buyers will line up for this Rolls-fettled MINI Goodwood (price estimated as high as £50,000), but at least the thing has good historical precedent in the Peter Sellers Mini-Rolls. And compared to some of the modern attempts to create premium city cars (hello Aston Cygnet), that makes this über-priced MINI-mashup something more than a mere cynical play for profits and C02 emission average reductions. In fact, it’s something of a tribute to BMW’s stewardship of two brands that could well have been botched over the past decade or so. Hit the jump for details on the Mini Goodwood’s posh appointments.
In the grand old days of the European auto industry, rival houses would battle for supremacy in endurance, road, rally and formula racing, the results of which were treated as far more important than (or, at least the basis for) such prosaic concerns as sales volume or profitability. In the modern era, this fierce competition slacked, as racing became about brand-building and competition moved into the arenas of sales and profits. Now, however, a new competition has erupted between every brand with a presence in the European market, only this time participation is compulsory and the stakes are survival in a super-competitive, mature market. And neither speed nor endurance will win this race against time: only reaching an EU-mandated carbon emissions goal by 2015 will do.
American auto enthusiasts often bemoan the lack of diesel options offered on the US market, looking to Europe as the promised land of oil-burning efficiency. But Europe’s love affair with diesel, which has been manifested in a 50%+ diesel sales mix for years, may be coming to a close. The WSJ reports
The European Commission–which has executive powers in the European Union–will propose to levy a minimum EUR20 per metric ton of carbon dioxide emitted on products like gasoline, diesel, natural gas and coal starting in 2013. But it will also propose adjusting the existing legislation by gradually increasing a minimum levy on the energy content of diesel to bring it to the same level as that of gasoline starting in 2018
Here’s the key: in addition to basing taxes on C02 emissions, the EU tax structure shift will result in fuel taxation based on energy content rather than volume alone. Accordingly, diesel’s higher energy content means it will see a more dramatic increase in taxation levels. And this single common-sense proposal is unleashing an intense debate in Europe about energy, taxation and the future of the auto industry.
Saab ended last week with “no solution in sight,” but after a busy weekend it seems that the Swedish brand has found a way to keep rage, raging against the dying of the light. Bloomberg reports that
The Swedish government has agreed to let Saab free up collateral now used to back the EIB loan, of which Saab so far has drawn 217 million euros, the people said. The freed-up collateral allows Saab to sell property to Antonov’s company. The property to be sold would include at least parts of Saab’s factory in Trollhaettan in southwestern Sweden, where the carmaker is based.
Saab (technically still called Spyker Cars) also recently sold its Spyker sportscar business to Antonov who continues to be the only major investor involved in Saab and its ongoing rescue. And though Antonov continues to be happy to pour his money into the firm, it’s not as simple as just writing a check: Antonov keeps offering support and governments keep shooting them down. Where’s the private capital love?
A report from Automotive News Europe [sub] says that Alfa-Romeo’s return to the US market has been delayed from late 2012 to 2013, as its parent company Fiat struggles to work out a satisfying turnaround strategy for the sporting brand. According to ANE’s sources,
In a presentation to bond holders held on March 29, [Fiat CEO Sergio] Marchionne showed a slide that said the Giulia sedan and wagon, which will replace the 159 sedan and Sportwagon, would be made in the United States starting in 2013. A year ago that slide, which was part of Fiat Group’s presentation of its five-year strategic plan, showed the Giulia models being built in Italy and debuting in North America in late 2012 as part of the brand’s return there. The Fiat spokesman now says the company still needs to decide where the make the Giulia.
Once again, Fiat finds itself torn between competing government backers. Should Fiat build the Giulia, which will be closely related to the replacement for the Chrysler 200 and Dodge Avenger, in the US (as a thank-you for receiving a bailed-out Chrysler) or in Italy (to keep jealous politicians and labor unions happy)? But it turns out that this isn’t even the extent of Alfa’s problems…
Saab’s inability to pay suppliers led it to request a release of some of its debt collateral by Sweden’s National Debt Office, reports Reuters. The NDO has loaned Saab €400m, but with its Russian backer Vladimir Antonov still unable to inject cash into the company, Saab was forced to ask for some of its NDO loan collateral in order to cover its supplier debts. But, according to another Reuters report, NDO spokesfolks say
It is clear what the problem is and everyone possible is trying to solve the problem… a solution to the problem had seemed in sight, but that in the end it did not work out.
The NDO says it will keep working with Saab, and the automaker predicts a resolution by next week (without offering any further details). After a year of independence from GM, the Swedish brand could well be reaching the end of the line.
If there’s one factor that most dims enthusiasm for cars, it’s probably traffic. The frustration, misanthropy and waste engendered by traffic are such that it would come as no surprise to learn that traffic-related stress causes a number of health problems. But, according to a study by the World Health Organization [PDF here], you don’t even need to be stuck in traffic to be negatively affected by it. According to a WHO press release,
Traffic-related noise accounts for over 1 million healthy years of life lost annually to ill health, disability or early death in the western countries in the WHO European Region. This is the main conclusion of the first report assessing the burden of disease from environmental noise in Europe, released today by WHO/Europe. Noise causes or contributes to not only annoyance and sleep disturbance but also heart attacks, learning disabilities and tinnitus.
Traffic: the not-so-silent killer?
Automotive News Europe [sub] reports that, having lost “Mr Opel” to Volkswagen, GM’s European division is losing another veteran to the competition. The company announced:
We regret that Frank Weber has quit. We thank him for what he has done and wish him the best for the future
Earlier this week we learned that Saab can not pay its supplier bills until its Russian sugar daddy, Vladimir Antonov, gets Swedish government approval to buy into the company that owns it. Now, suppliers are speaking out, telling Automotive News [sub] that the brand and its owner, Spyker Cars, owes “tens of millions” of Swedish crowns (10m crowns equals about $1.6m). A representative of the Swedish suppliers association explains
There is a perception in the media that there are discussions on extended credit times and such. But it is not about that, it is about the fact that Saab must pay its bills. If they cannot sort out their financial situation, things look very bleak.
With a “desperate” hunt for investment underway, Saab’s only hope appears to be Antonov, who says he has $71.5m to invest, an amount that should cover the $4.7m+ supplier debts. Meanwhile, work at Trolhattan has been stopped for at least the rest of the week. But even if Antonov gets Swedish government approval to invest, another, equally dire problem appears to be materializing: a dispute over the use of the name “Saab.”
Prices for the Saab 9-5 SportCombi have leaked in Sweden, and according to Autobild, the wagon version actually costs €114 less than the sedan. Whether they’ll make the same offer outside of Sweden isn’t clear… but then neither is anything about Saab’s future. And instead of haranguing the poor Swedes about the questionable financial sense of this decision, let’s just agree that desperate times call for desperate measures. If nothing else, Saab’s wagon-centive sets it apart from the industry’s business-as-usual.
So, you want something with four-doors, blazing speed and sharp handling? Germany has got you covered. Photos have leaked of the next generation of Teutonic supersedans, giving an insight into a new wave of four-door performance. First up is the BMW M5, which is set to debut at the forthcoming Shanghai Auto Show, displaying the 560 HP sedan in remarkable detail. In response, Audi has let its own turbo-V8 luxury sedan be snapped in testing, even though the S6 shown here won’t be a true M5 competitor, offering “only” around 440 HP. A twin-turbo version making an M5-rivaling 555 HP is said to be waiting for the RS6, as well as a Bentley Continental GT V8. [Gallery after the jump]
From the sounds of a story at the Freep, both GM and Ford appear to get ready for bigger losses from Europe. Led by fanfares inflated by their hometown paper, Ford and GM seem to embark on a PR campaign to soften the blow at home:
“Europe was GM’s only unprofitable global region in 2010, extending the company’s streak of years in the red there to 11, with a $1.8-billion European operating loss. GM is hoping to break even in Europe this year before restructuring charges.”
(It’s the restructuring charges that will be the humdinger. Even if kept as non-recurring items, they will hit the bottom line in a big way.)
“Ford unexpectedly lost money in the fourth quarter in Europe, losing market share because it refused to match competitors’ incentives. It made a profit on European operations for all of 2010, albeit just $182 million of its $6.6-billion companywide profit for the year.”
And who’s to blame? The customer of course. The Freep’s informers see a gaping perception gap that is widening every day: (Read More…)
Ford has made it clear that a 250 HP “ST” version of its 2012 Focus will be making its way to America, hopefully opening a new chapter in Ford’s US-market hot hatch history. The perfect followup? How about a 180 HP Fiesta ST, featuring the new 1.6 liter Ecoboost engine? Autocar says its coming to the UK by the end of this year, and Ford is already teasing its arrival with the release of a “warm” Fiesta, the 134 HP S1600 (above). There’s no word on US availability yet, but if Ford’s going to bring us the Focus ST, why not its baby cousin? With the Fiesta getting plenty of play in rally racing and, far more importantly, Ken Block videos, this seems like an easy call. If nothing else, it will at least look like the bargain of the lifetime compared to the Fiat 500 EV.
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