Turbocharged 1996 Laser Red Metallic Ford Mustang Cobra on 2040-cars

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Auto investor Kirk Kerkorian dead at 98

Kirk Kerkorian, among the most talked-about investors in the American auto industry in recent memory, died at the age of 98 in Los Angeles on Monday, June 15. The billionaire ran the investment company Tracinda Corp. and was the largest shareholder in MGM Resorts International. Kerkorian attempted to use his power as a well-financed investor to push the auto industry in some fascinating ways. In 2006, he used his nearly 10-percent stake in General Motors to push a merger with the Renault-Nissan Alliance. The deal made it as far as discussions, but eventually fell through. Kerkorian also attempted to purchase Chrysler - twice. According to Automotive News, the first effort came in 1995 with a $22.8-billion offer for the automaker, and soon after it failed the company merged with Daimler. Then in 2007, Kerkorian was back with a bid for $4.5 billion, but things eventually fell to Cerberus. The billionaire finished the trifecta by buying up $1 billion in Ford stock in 2008 to make Kerkorian the single largest investor in the company. However, the situation didn't last long, and by the end of that year, he had unloaded the shares. According to Automotive News, Kerkorian was ranked by Forbes as the world's 41st richest man in 2008 with a net worth of $16 billion. News Source: Automotive News - sub. req.Image Credit: Joe Cavaretta / AP Photo Celebrities Earnings/Financials Chrysler Ford GM obituary

Ford GT heading back to Le Mans [w/video]

Ford is set to return to endurance sports car racing, and return in a big way. Announced this morning at Le Mans, the Blue Oval will be entering a version of the new Ford GT in endurance racing series on both sides of the Atlantic. The highly accomplished Chip Ganassi Racing with Felix Sabates team will field the Ford GT next season in the LM GTE Pro class in both the FIA World Endurance Championship and in the United SportsCar Championship, culminating in a four-car entry at next year's 24 Hours of Le Mans. That will mark the 50th anniversary of Ford's landmark victory at Le Mans in 1966. The pivotal, dominant one-two-three finish lead to a further three back-to-back wins with the legendary GT40 - the historic progenitor of the new GT revealed in Detroit earlier this year. Ford isn't saying much about the technical specs underpinning the new competition-spec GT developed with Multimatic, but it's expected to follow closely along the lines of the road-going supercar we've already seen. That includes the 3.5-liter EcoBoost V6 developed in conjunction with Roush Yates and which has already proven a winner in Daytona Prototypes. We also know that the crazy diffuser you see here will be part of 2016's regulations. Look for the new Ford GT racer to mark its debut in January in the Rolex 24 at Daytona. In the meantime, you can scope it out in the high-resolution image gallery above, the video below and the press release at bottom. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Ford Returning to Le Mans in 2016 with All-New Ford GT, Marking 50th Anniversary of 1966 Victory - Ford returns to Le Mans in 2016 with the all-new Ford GT supercar to compete in LM GTE Pro class, commemorating the 50th anniversary of Ford's 1966 overall victory - All-new Ford factory program to compete in both the FIA World Endurance Championship and TUDOR United SportsCar Championship with a two-team, four-car effort – operated by Chip Ganassi Racing with Felix Sabates - Ford GT is company's showcase for aerodynamics and lightweight carbon fibre construction, along with new twin-turbocharged Ford EcoBoost V6 – most powerful EcoBoost production engine ever LE MANS, France, June 12, 2015 – Ford announced today it is returning to one of the most prestigious automobile races in the world with its new Ford GT race car, based on the all-new ultra-high-performance supercar that goes on sale next year.

Former Ford CEO Mulally won't run for president

Alan Mulally will not be following his successful term as president and CEO of Ford Motor Company with a run at an even bigger presidency. Rumors that the 68-year-old former Boeing exec would make a run at the White House sprouted after his apparent dodging of a reporter's questions about a potential candidacy during a forum in Indianapolis.
"I really think it's important that we all pull together. We really need to pull together around a compelling vision for our country and a comprehensive strategy to do it and work together. We really need to do it," Mulally said at the conference, according to The Detroit News.
He's since clarified by saying, "[I'm] honored at the suggestion, but that is not a role I am considering."