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Is Tesla quietly sitting on 3,000 cars?
Thu, 13 Nov 2014Tesla's 2014 third quarter financial report mixed some positive news with gloomy messages. On one hand, the electric carmaker posted its best quarter ever in terms of deliveries, including its best single day with 907 EVs delivered. The company also announced expanded production to get even more vehicles out the door by the end of 2015. However, the Model X got delayed yet again and higher prices in Europe were mulled. Dousing the results with a bit more cold water, a Merrill Lynch investor letter claims there's more to be pessimistic about the business than meets the eye.
The Daily Kanban, quoting research meant for Merrill Lynch clients, claims that Tesla had "approximately 3K vehicles stocked in inventory or in transit" at the end of the Q3. That's a fairly large number considering that the company reports selling 7,785 units for the whole quarter. The statement is also surprising because the automaker has a reputation for keeping excess supply low, and there are allegedly waiting lists for Model S sedans. CEO Elon Musk maintains that the automaker has a problem being able to keep up with high demand, as well.
According to Daily Kanban, the letter further states, "China is proving to be more challenging for Tesla to penetrate than expected." The automaker does not break out sales by region in its Q3 financials to check this assertion, however, the company does report the recently opened store in Shenzhen is one of its top-grossing stores worldwide and that there are now 23 Supercharger locations in 10 Chinese cities.
Volvo to build range-topping S90 sedan in China
Thu, 13 Nov 2014Volvo is furthering its deep ties in China by announcing a major expansion to its factory in Daqing that will equip the site to build its future S90 sedan. The automaker is promising to make the plant, "one of the most advanced car making facilities in China," according to its press release. Unfortunately, the company isn't specifying the amount being invested or how long the work will take.
Because the northeastern Chinese city of Daqing owns about 37 percent of the automaker, the location for the significant expansion isn't entirely surprising, especially since Geely owns a majority stake in the Swedish brand. The existing factory there employs about 700 people to build the original XC90 for the local market, but the upgrades will allow the plant to handle Volvo's Scalable Product Architecture modular platform.
To be fair, Volvo doesn't specifically call out the S80-replacing S90 by name in its announcement. However, it promises the first vehicle built in Daqing after the expansion will be a new premium sedan, and the upgrades will allow the plant to make "most innovative vehicles in its product range," and the range-topping sedan is widely expected to adopt the S90 moniker.
Bugatti Chiron mule caught wearing stylish camo over hybrid drivetrain
Thu, 13 Nov 2014Upon first inspection, this looks to be a strangely styled Bugatti Veyron. Such a thing shouldn't be a shock. We have, after all, already seen the hypercar with a penis on the hood and painted in nearly every single hue that exists on our planet. Take a closer look, though, and we see something altogether different. That's because this isn't a Veyron - it's new, rumored to be a replacement to the Veyron and is allegedly called the Chiron.
The first identifier that we're looking at something different are the huge carbon-ceramic brakes, which dwarf the already meaty pans found on the standard Veyron Super Sport. Beyond that, the distinctive snorkel intakes of the Veyron have been replaced with simple NACA ducts, while Bugatti engineers have ditched the car's enormous adjustable rear spoiler.
That amputation has allowed our spies to peek into the back of the car, and identify what we think are the components of an electric powertrain. Considering current performance trends, we shouldn't be surprised that Bugatti (and by extension, Volkswagen) are tinkering with hybrid tech.
Former Honda CEOs chide current boss about quality
Thu, 13 Nov 2014Taking charge of a major corporation will never be without its challenges, and one of those - as Honda CEO Takanobu Ito is finding out - is filling the big shoes of those that came before. Ito's predecessors are apparently not pleased with what he's doing to the company, and are wasting no time in telling him so.
According to Reuters, two former Honda chiefs have recently visited Ito (pictured above with his predecessor Takeo Fukui) to talk to him about the Japanese automaker's quality issues, which they apparently regard as eroding the company's image. Nobuhiko Kawamoto, who served as CEO from 1990-98, reportedly came to Honda headquarters in Tokyo to deliver "stern words" to Ito last month. Kawamoto's immediate successor, Hiroyuki Yoshino, reportedly met with Ito under similar circumstances earlier this year.
Kawamoto and Yoshino are part of a larger group of former Honda executives who are concerned with the declining quality of the company's products under Ito's leadership. Where Honda once focused more on quality, collaborating more closely with parts suppliers,more recently the company has, in the eyes of those former executives at least, shifted its focus to quantity and to new technologies. That's what, the report alleges, has led to Honda recalling so many of its vehicles in recent years.
Volkswagen Golf named Motor Trend Car of the Year
Thu, 13 Nov 2014The all-new, seventh-generation Volkswagen Golf has captured Motor Trend's prestigious Car of the Year award. The Golf, along with its many variants, which include the diesel-powered TDI, GTI hot hatch and electric E-Golf, beat out a slew of competitors which included corporate cousin Audi and its new A3.
Other finalist vehicles bested by the Golf include the 2015 Ford Mustang, BMW 2 Series, Honda Fit, Hyundai Genesis, Kia Sedona, Lexus RC, Maserati Ghibli and Mercedes-Benz S-Class.
"VW floored our judges by reimagining the seventh generation Golf for nearly every need and want," Motor Trend Editor-in-Chief Ed Loh said in a statement. "From the value-laden Golf 1.8T and high-MPG Golf TDI to the legendary hot hatch GTI and all-electric e-Golf, there truly is a Golf for everyone."
This Or That: 1987 VW Vanagon Syncro vs. 1987 Land Rover Defender [w/poll]
Thu, 13 Nov 2014As I scoured auction sites and classified ads for the perfect vehicle to take into battle with Autoblog Associate Editor Brandon Turkus, I knew I needed to find something unique. You see, I'm currently 0-2 at winning a round of This or That, in which two of our editors agree on a category, choose a side, and argue it out over a (mostly) friendly chain of emails.
The first time we did this, my chosen Fiat 500 Abarth took about a third of the popular vote in our reader poll. The second time, my lovely 1980 Oldsmobile 442 did just a little bit better against a 1989 BMW 635 CSi. Despite holding the opinion that my automotive choices, though perhaps a little bit more... obscure than my fellow editors, are still better, an outright win would go a long way toward boosting my vehicular self worth a few notches upward.
With all of that out of the way, even if three isn't my lucky number after all, I go into battle against Brandon knowing full well that I've made the perfect choice: A 1987 Volkswagen Vanagon Syncro. My rough-and-tumble van/'ute has a formidable opponent in the form of a 1987 Land Rover Defender, which, truth be told, is exactly what I was expecting from Turkus, a self-proclaimed Rover aficionado.
Lamborghini Accademia at Mazda Raceway Laguna Seca
Thu, 13 Nov 2014
I found it to be a rare, genuinely rewarding educational experience.
Lamborghini is putting more effort into its North American motorsports efforts and promotion, so we recently attended its first-ever Intensivo driving school at Mazda Raceway Laguna Seca, spending a day behind the wheel of both its Huracán and Aventador supercars. Offered under the Squadra Corse banner, Experienza is designed to provide a taste of Lamborghini's cars on a circuit, Intensivo is designed to maximize track-time learning, and Accademia and Advancada - only in Europe for now - are focused on the driver and driver technique. Beyond those, Squadra Corse can also provide Super Trofeo instruction to get you fit for the Blancpain one-make series and GT3 racing, too.
Chevy shows Chaparral Vision Gran Turismo concept
Thu, 13 Nov 2014Well, this wasn't something we expected. We knew Chevrolet was going to be getting in on the Vision Gran Turismo party, but it was kind of just assumed that the concept would be based on one of the brand's production performance cars, with the still-newish Corvette seeming like the obvious choice. Instead, though, Chevy has thrown one hell of a curve ball with its teaser for the Chaparral Vision Gran Turismo.
For those not up on the history of racing cars of the 1960s and 1970s, Chaparral came from the combination of Hap Sharp, Jim Hall and Chevy race engines, and was a genuine innovator in one of the wildest eras in racing. The team was particularly known for its pioneering work in ground effects, with its 2J, the so-called "sucker car," forcing rulebook changes eight years before the Lotus 79 arrived.
Now, Chevrolet has revived the name for 2X Vision Gran Turismo. Penned by the GM Advanced Design Studio and with input from Jim Hall, the 2X looks to be extreme even by Vision Gran Turismo standards.
Ford reveals all-new Everest SUV at Asia-Pacific forum [w/poll]
Thu, 13 Nov 2014While the Explorer may have shifted from a truck-based sport-ute to a car-based crossover, Ford still offers buyers on the other side of the Pacific a Ranger-based SUV in the form of the Everest. And at the Asia-Pacific Economic Cooperation (APEC) Summit in Beijing today, the Blue Oval revealed the all-new version you see here.
Previewed in concept form over a year ago and made specifically for the Asia-Pacific market, the new Ford Everest is designed to be more refined on the road and more capable off of it. Like the Explorer once was, the new Everest is based on a stretched version of the overseas Ford Ranger pickup. Depending on the specific market, Ford will offer the new Everest with a range of engines including a 2.0-liter EcoBoost turbo four and two Duratorq turbodiesels - a 2.2-liter four and a 3.2-liter inline-five - mated to a six-speed automatic transmission.
Earmarked to take on the likes of the Toyota Land Cruiser Prado (known in these parts as the Lexus GX) and the Jeep Grand Cherokee, the new Everest promises rock-crawlers even better off-road capabilities. It's got nearly nine inches of ground clearance, over 30 inches of wading depth, a 29-degree approach and 25-degree departure angles and a set of features including on-the-fly adjustable four-wheel drive.
BMW says SUVs killed the sports car market
Thu, 13 Nov 2014In many ways, we're living in a golden age of automotive performance. After all, it's possible to show up at a Dodge dealer, hand over about $60,000 and storm away with a 707-horsepower Challenger Hellcat. Or for those who prefer a touch more luxury, the BMW M4, Mercedes-AMG C63 and latest Cadillac ATS-V offer between 425 and 503 horsepower, depending on your pick, with a bit more poshness. However, none of these powerful vehicles fit the classic definition of a two-place, droptop sports car, and according BMW head of sales Ian Robertson, that's because the segment is very much in the doldrums.
According to Robertson, two factors seriously wounded the classic sports car market. First, the global economic crisis of a few years ago put a serious hurt on sales, according to Bloomberg. Further worsening the situation, the boom in popularity of luxury SUVs and crossovers in the past few years hasn't allowed for much recovery. Even car-hungry China hasn't helped much because of the smog in many cities and preference among some of the very rich there to be chauffeured.
Combined, Audi TT, BMW Z4 and Mercedes-Benz SLK sales peaked around 114,000 units a year in 2007, but they are only expected to reach 72,000 annually by the end of the decade. Robertson is pretty pessimistic about the market's comeback too. "Post-2008, it just collapsed. I'm not so sure it'll ever fully recover," he said to Bloomberg.
Recharge Wrap-up: AutoNation CEO calls anti-Tesla laws unnecessary, Common Pence donates subway money
Thu, Nov 13 2014Volkswagen has presented a list of near-term technologies to improve fuel economy and decrease emissions. The list includes an addition to a coasting function in its stop-start system, a 10-speed DSG transmission and a more power-dense four-cylinder TDI engine. Volkswagen aims to be the world's most sustainable automaker by 2018 through electric mobility, improved design and increased environmental performance from internal combustion vehicles. Volkswagen also announced other technologies for increased interactivity and connectivity in its vehicles. Read more at Green Car Congress. Commence Pence is a system that allows subway riders in London to donate their unused transit money to charity. People visiting the city often load up enough on their subway card (called Oyster Card) to get them through their trip and end up with unused funds leftover. Zander Whitehurst, a British designer, has created a device that can use the card's RFID to accept leftover funds, which then get diverted to charity rather than reverting back to the agency in charge of running the subway fare system. See the video below or read more at Wired. Mike Jackson, CEO of AutoNation has called Michigan's efforts to ban Tesla's direct sales in the state "unnecessary protectionism." The statement comes as a bit of a surprise, as it dissents from the majority of auto dealers who support a franchise model, as well as laws that forbid automakers selling directly to the consumer. "If Elon Musk wants to make a mistake and go with an inefficient distribution system, that's his right as an American," says Jackson, showing he feels he has little to fear from the electric automaker. Jackson has more to say on the matter, which you can read over at Green Car Reports. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery Tesla Stores Around The World View 22 Photos News Source: Green Car Congress, Wired, Green Car ReportsImage Credit: Rick Bowmer / AP Government/Legal Green Tesla Volkswagen Fuel Efficiency Transportation Alternatives Electric recharge wrapup
This father and son duo terrorize the UK countryside in Datsun 240Z pair
Wed, 12 Nov 2014The Datsun 240Z got a lot of things right when it was introduced, with handsome styling, strong performance and a reasonably affordable price. And while the coupes grew a strong fan base in the US, they remained quite a rarity in the UK. Decades later, a father and son in England have latched onto the car and bonded over their shared love for two completely opposite takes on this Japanese GT
There's already quite a collection of exotics in Mel Streek's garage, and his rat rod 240Z, which he calls the Ratsun, definitely doesn't fit with the rest. On the outside, the Datsun looks ready to fall apart, but it's mechanically perfect underneath. Alternatively, Mel's son, Ollie, has a completely different take for his Z with its perfect, shining paint.
Both Zs sound amazing, though. They have a mechanical, somewhat course exhaust note that's intoxicating to hear. You can definitely tell there's some work going on under the hood. Check out this video from Petrolicious for a father and son who both find something to love in these classic Japanese coupes.
What you missed on 11.12.14
Wed, 12 Nov 20142015 Audi A3 TDI Challenge
Audi recently challenged us to drive 834 miles on one tank of diesel in the new 2015 A3 TDI sedan. Senior Editor Steven Ewing was up for the task, and managed just under 60 miles per gallon in the new Audi - nearly 17 mpg better than the EPA highway rating. This wasn't an easy task, though. Read his full experience, here.
2015 Ford F-150 enters production
We don't even know what to say about this eBay Find of the Day
Wed, 12 Nov 2014There's often a sense of absurd joy when browsing eBay Motors, finding what kind of automotive craziness exists in the world. This latest find deserves some sort of medal for its weirdness, though, with a combination of fire truck graphics, an absolutely bizarre custom body and an unconventional engine setup.
Titled as a 1998 Chevrolet S-10, this crimson beast gave up being describable as any kind of production vehicle a long time ago. You can still just make out the pickup's cab, but everything else is thoroughly reworked. According to the seller, the body is channeled three inches, and the cockpit is moved 42 inches rearward.
Of course, this hot rod would remain weird enough even with a normal small block Chevy engine for power, but the seller's choice of drivetrain truly boggles the mind. According to the auction, the vehicle runs a 7.6-liter Seagrave/Pierce-Arrow V12 from 1941 that makes around 202 horsepower and boasts a 24-spark-plug layout with about 60 feet of ignition wire. The setup is linked to two, very cool-looking Rochester carbs rising out of the engine bay, and power runs back to a dually rear end.
LaFerrari XX to pack 1,050 hp
Wed, 12 Nov 2014With 949 horsepower on tap, it would be hard to imagine Ferrari getting much more juice out of the 6.3-liter V12 hybrid powering its LaFerrari. But apparently, it's possible, as reports suggest that the forthcoming LaFerrari XX will pack somewhere closer to 1,050 hp.
This according to Top Gear, which reports that the successor to the Enzo-based FXX and the subsequent 599XX will be revealed next month in Abu Dhabi at the company's year-end Finale Mondiali extravaganza - the same event where, in years past, Ferrari has presented such extreme machines as the 458 Challenge Evoluzione, the aforementioned 599XX and the FXX Evoluzione.
When the subject of a LaFerrari XX first came up several months ago, Antonello Coletta - head of the department responsible for the XX program - said he couldn't picture the track version of the company's flagship hybrid hypercar being much faster or more powerful than the existing version. But where there's a will, there's a way. TG reports that the extra hundred horses have been corralled in the V12 and not in the electric motor, which will reportedly carry over essentially unchanged from the road-going model.
VW Golf R 400 headed for production
Wed, 12 Nov 2014At the Beijing Motor Show earlier this year, Volkswagen showcased a concept hatchback called the Golf R 400. It was essentially the Golf R we already know and love, but with an even more powerful engine to make it the most potent take on the Golf since the GTI 650 concept of 2007. Only unlike that bonkers, W12-powered prototype, which was never intended as anything other than a show car, rumors have been percolating over the past half year that VW could actually put the Golf R 400 concept into production.
This time, Britain's Car magazine claims that the bean-counters in Wolfsburg have given the Golf R 400 the green light for production. Its high-output turbo four, also showcased on the Audi TT Quattro Sport concept, is tipped to produce between 400 and 414 hp - far more than the 290 hp in the existing Golf R, the 210 hp in the GTI or the 170 hp in the base Golf we get in the US. The added juice could bump the designation up to Golf R 420.
Visual and aerodynamic enhancements are tipped to remain relatively low-key, with brakes and suspension further upgraded to handle the extra power. We wouldn't expect it to be too off-the-wall, though, because this top-spec hot hatch would likely be a full production model and not a limited run, and as such would still need to roll down the standard production line.
Aston Martin considers offering new Lagonda Taraf outside of Middle East
Thu, Nov 13 2014Aston Martin officially took the wraps off its new Lagonda sedan in Dubai on Monday, revealing the luxury limousine in all its glory and revealing its nameplate as Taraf – derived from the Arabic word for "luxury" (not for some Kurdish starlet). A fitting name, since it will only be offered to select customers in the Middle East, where a large number of its '70s-era predecessors have found homes. But while the model was clearly and emphatically targeted at the Persian Gulf clientele, Aston Martin is reportedly considering offering the Lagonda Taraf in other markets as well. Both Car and Top Gear are citing Aston's new chief executive Andy Palmer on the matter from the unveiling in Dubai: "I can confirm today that we are also evaluating the opportunity to offer this Lagonda in other markets." Whether it would carry the Arabic name along with it, we don't know. Nor do we know, for that matter, if the US would be among those markets which Aston would consider selling the sedan. "We have enjoyed excellent levels of interest in the Lagonda and we are investigating possibilities for other markets besides the Middle East," said Matthew Clarke, the company's spokesman for the Americas, in correspondence with Autoblog. "However, we can't add any more or be any more specific at this very early stage." Understandable, of course, but we hope to hear good news in the near future.
GMC boss wants a Jeep Wrangler rival
Wed, 12 Nov 2014Challengers come and challengers go, but the Jeep Wrangler continues to push forward even after vehicles like the Toyota FJ Cruiser and the entire Hummer brand have been shut down. Now GMC reportedly wants to take a stab at the quintessential Jeep, as well.
The news comes directly from Buick-GMC vice president Duncan Aldred, speaking with our compatriots over at Edmunds. Although Aldred said there are no plans currently on the table to expand GMC's lineup beyond the current range, "there is plenty of room everywhere in the hierarchy."
That could include a rival to the Wrangler, as well as a flagship luxury SUV positioned above the current Yukon Denali (pictured above). Just when (or for that matter, if) such models might come into fruition remains a big question mark, but it's certainly interesting to see what GM's dedicated truck brand has on the drawing board.
Maserati updates Quattroporte, Ghibli for 2015 at LA Auto Show
Wed, 12 Nov 2014Maserati won't be showcasing any all-new products at the Los Angeles Auto Show this year, but that doesn't mean it doesn't have anything to celebrate. It is, after all, the marque's centenary this year, and in 2014 has achieved the best sales it's ever racked up in the US market.
The most noteworthy Trident model to be displayed in LA next week will be the revised Quattroporte, the S Q4 and GTS trims of which are treated to some enhancements for the 2015 model year. The top-spec Quattroporte GTS in particular "benefits from a sportier and aggressive appearance," highlighted by color-matched lower bodywork, an updated emblem, red accents on the wheels and upgraded equipment inside, including red leather upholstery, contrast stitching, piano black trim and integrated wifi.
For 2015, the smaller Ghibli sedan also gets standard navigation and Bluetooth connectivity, as well as a new finish for the brake calipers. Maserati will also showcase the GranTurismo MC Centennial Editions, as well as the Alfieri concept originally unveiled at the Geneva Motor Show (new images of which we've included below). Finally, the Petersen Automotive Museum is also collaborating with the Italian automaker to display an array of historic Maseratis in the West Hall lobby of the Los Angeles Convention Center.
Korea may bar new Corvette because it's TOO LOUD
Wed, 12 Nov 2014South Korean buyers hoping to stomp on the throttle to hear the thundering V8 of the Chevrolet C7 Corvette have reason to be a little depressed, it seems. The South Korean government has no interest in hearing the 'Vettes angry growl. We're afraid it's just too darn loud.
"The launch of the seventh-generation Corvette is being delayed indefinitely due to Korea's regulation on automobile noise," said Chevrolet Korea CEO Sergio Rocha during a recent media conference, according to GM Authority.
Of course, Chevy could probably find some way to adjust the C7 to quiet it down its yell to meet the regulations, but there isn't much financial incentive to do so. According to Rocha, there are only around 12 Corvettes imported into South Korea per year. It's just not worth the investment to make sure a dozen people can enjoy the V8's bark. Too bad, it's a glorious wail...
GM laying off 510 amidst slow Cadillac, small car sales
Wed, 12 Nov 2014General Motors is laying off about 510 workers from two factories beginning in January, and it could be months before the automaker needs some of that latent capacity to come back on line. A combination of poor sales and high dealer inventories are prompting the cutbacks, according to Automotive News.
The largest changes come at GM's Lansing Grand River plant, where the Cadillac ATS and CTS are made. An entire shift of about 350 workers is being laid off, but the automaker hopes to find positions for some of them at other nearby factories. The decision leaves just a single shift building vehicles there. According to Automotive News, the move is partially spurred by Johan de Nysschen's plan to make Cadillac a more exclusive brand.
The lost shift will likely return for production of the next-generation Chevrolet Camaro at the plant, according to the report, but GM isn't saying when that will be. A previous announcement from the Canadian Auto Workers union indicated that the Oshawa, Ontario, factory would lose the coupe in late 2015 or early 2016.
2015 Ford F-150 enters production
Wed, 12 Nov 2014Ford has given the F-150 a dramatic makeover for 2015, switching to an aluminum body that helps reduce weight by about 700 pounds. Because the truck is dramatically different, Ford also had to change the way it makes the F-150, so we went inside its sprawling factory in Dearborn, MI, this week to see the Blue Oval's new manufacturing techniques in action.
The company has added 850 jobs at the site and upgraded its stamping and tool and die facilities. The body shop is also modernized, and it has been fitted with 500 new robots that join the structures together. The first 2015 F-150 rolled off the line on Tuesday, and the trucks will begin arriving in dealerships in December. Get a closer look at the F-150's unique assembly process in our video.
2015 Audi A3 TDI Challenge
Wed, 12 Nov 2014I officially gave up after 758 miles. The 15 or so miles leading up to this decision were spent in the right lane of Southern California's I-8 freeway, hazard lights blinking, climbing uphill at just over 40 miles per hour. After two days of sweating to the oldies (okay, a mix of SiriusXM Classic Rewind and First Wave), I had covered those 758 miles in a 2015 Audi A3 TDI on one tank of diesel fuel. And when I say sweating, I mean it quite literally. In order to maximize fuel efficiency, my co-driver and I kept the air conditioning off, even when the direct sunlight in the California desert had outside temperatures hovering around 90 degrees. I had been doing this hypermiling exercise for two days, the car was getting stinky, and I was ready to hear the sweet "thhhhhhhwack" of satisfaction that would finally come from peeling my sweat-soaked self off the A3's leather seat. Sexy, I know.
Audi had challenged me to drive 834 miles from Albuquerque, NM to San Diego, CA, on just one 13.2-gallon tank of diesel fuel. If you believe the EPA's highway fuel economy rating of 43 miles per gallon, this means I should have sputtered to a stop after 568 miles. But I went a grand total of 758 - that's 59.4 mpg - and I could have kept going. In fact, two teams made it the full 834 miles on their one allotted tank of fuel. That's over 63 mpg. That's twenty miles per gallon better than EPA estimates.
The TDI Challenge took me through three states over the course of two days, and the 834-mile journey wasn't just a simple highway cruise. I negotiated uphill climbs, long series of involving switchbacks through the mountains and elevations that ranged from 220 feet below sea level to nearly 8,000 feet above. I learned that super-crazy-efficient driving like this an incredibly challenging game that takes serious skill. But I also learned that if you're going to attempt to stomp all over the EPA's numbers, the Audi A3 TDI is one heck of a car for the journey.
Hyundai, Kia announce buyback plan for angry Korean investors
Wed, 12 Nov 2014Hyundai's controversial decision last September to move its Korean headquarters to an expansive (and expensive) new facility was met with a swift backlash by shareholders. After making the biggest land purchase in South Korean history, the company's share price took a nine-point nose dive.
Now, in a bid to get back in the good graces of its stockholders, Hyundai and its subsidiary, Kia, will make a $615-million stock buyback plan. Reuters claims this is the first time in ten years that Hyundai has made a buyback offer with the explicit purpose of pumping up share prices.
The total deal bumped up Hyundai's share prices 5.7 percent while Kia is up two percent, although neither company has fully recovered from the battering that followed the headquarters announcement. It's unclear what else it will take for Hyundai to recover the ground it lost during the land deal.
Subaru VIziv GT joins the Gran Turismo Vision clique
Wed, 12 Nov 2014The next vehicle in the Vision Gran Turismo series has poked its nose out as part of a new teaser video and it comes from all-wheel-drive specialists Subaru.
Based on the Viziv Concept, the Viziv GT Vision Gran Turismo gets the same sort of racy treatment that we've seen on the other VGT cars, with big wheels and aggressive body work. The hood is vented and there's a whopper of a rear spoiler in place, based on what we can see in the video. We aren't sure what changes there are to the concept's diesel-hybrid powerplant, although we're sure all the details will leak out eventually.
Until then, take a look at the teaser video and let us know what you think by posting down in Comments.
Scion reveals iM concept ahead of LA debut
Wed, 12 Nov 2014After dropping a teaser image on us a few weeks ago, Scion has revealed in full the new iM Concept it's bringing to the Los Angeles Auto Show next week. As expected, the concept is clearly a rebadged version of the Euro-market Toyota Auris, only with some "European Racing Circuit Styling" upgrades to make it look more aggressive.
Along with the Scion logos, the five-door hatch is treated to a deeper air dam flanked by angular vents with stacked fog lamps, beefed-up wheel arches linked by widened side sills and filled with 19-inch, anthracite-finish alloys on low-profile rubber. Vented brake discs and four-piston calipers join an adjustable suspension as show-worthy equipment upgrades.
The sporty treatment continues around back with a similarly aggressive rear bumper and roof spoiler. Even the wing mirrors are replaced with narrower units. Little wonder it's all done up in a shade Scion calls "incrediblue" that looks rather similar to what sister-brand Lexus would put on one of its F-branded performance models - or for that matter what corporate ally Subaru would put on an STI hot hatches like the WRX.
Galpin and Henrik Fisker to unveil 'Ultimate American Muscle Car' in LA
Wed, Nov 12 2014When Henrik Fisker appeared on the 2014 Los Angeles Auto Show presentation schedule with back-to-back debuts with Galpin Auto Sports and Galpin Motors, we were rather intrigued. Especially when rumors suggested that the project with GAS would be the "Ultimate American Muscle Car." That gossip has turned out to be entirely true, and we have gotten our first glimpse at Fisker's latest design, dubbed the Rocket. Details are still incredibly scarce, but we now know that the Rocket boasts a body made from carbon fiber. The actual reveal is scheduled for the LA show on November 20 at 11:05 AM PST. Making the claim of the Ultimate American Muscle Car, obviously, sets expectation sky high, and its too early to say if the Rocket lives up to them. The general shape of the sketch looks fairly Mustang-like, even with the huge fender flares and big wing. Given Galpin's claim as the world's largest volume Ford dealer, a 'Stang might make sense as a starting point. Although, the teaser indicates Fisker has some very aggressive changes in style in mind, as well. There's no word about the other vehicle Fisker is working on for the show, but he reportedly wants to keep it a secret before the reveal. Scroll down to read the brief teaser about the Rocket. GALPIN AUTO SPORTS AND HENRIK FISKER TO DEBUT ULTIMATE AMERICAN MUSCLE CAR AT 2014 LOS ANGELES AUTO SHOW Carbon Fiber-Bodied Car Named "Rocket" To Be Unveiled Nov. 20 at 11:05AM LOS ANGELES (November 11, 2014) – Galpin Auto Sports and Henrik Fisker today announced they will debut their carbon fiber-bodied "Ultimate American Muscle Car" (rendered below) at the 2014 Los Angeles Auto Show during a short press conference on Thursday, November 20 at 11:05AM in Concourse Hall of the Los Angeles Convention Center. Additional details will be forthcoming, closer to the vehicle's debut. About Galpin Auto Sports Galpin Auto Sports, located at 15600 Roscoe Blvd. in Van Nuys offers customizing and personalizing services on all new and pre-owned vehicles including collector and classic cars. For more information on Galpin Auto Sports' unique products and services, please visit the website at www.galpinautosports.com. About Galpin Motors Galpin Motors, home to the world's largest volume Ford dealership for the 24th consecutive year, was founded in 1946 and is headquartered in Los Angeles' San Fernando Valley.
Ford Gets The Aluminum F-150 Ready For Prime Time
Wed, Nov 12 2014Russell Barnett, a Ford dealer in Tennessee, is ready for aluminum. Ford is using the metal almost exclusively in body of the 2015 version of its best-selling F-150 pickup, which starts arriving at dealerships next month. Barnett is already answering customers' questions about the truck. And he's updated his repair shop not only for the F-150, but in anticipation that other Ford brands such as the Mustang will eventually make the switch from steel. But, just in case, he ordered some extra steel-bodied 2014 pickups. "There will be some people who won't want to change for a while," says Barnett, who says pickups make up around half of the annual sales at his dealership in rural Winchester. Ford is doubling down on aluminum, which is lighter - and more expensive - than steel but just as tough. The new truck is the company's response to customers' requests for a more fuel-efficient and nimbler pickup. Fordhopes the advantages outweigh customer doubts about the durability of aluminum or potential repair costs for the pricier metal. It's a big risk. So far this year, one out of every three vehicles Ford sold in the U.S. was an F-Series pickup. Morgan Stanley estimates F-Series trucks account for 90 percent of Ford's global automotive profit. On Tuesday, it kicked off production of the new truck at its Dearborn Truck Plant, four miles from the company's headquarters. "Yeah, this is a risk, but it's one well worth taking." said Bill Ford, the company's executive chairman, as he stood alongside the assembly line. "For our customer, this is a big, big leap forward." The trucks have been the best-selling vehicles in the U.S. for 32 straight years; last year, Ford sold nearly 100,000 more full-size pickups than General Motors. Aluminum isn't new to the auto industry, but this is the first time it will cover the entire body of such a high-volume vehicle. Ford made 647,697 F-150 pickups at its two U.S. plants last year; that's one every 49 seconds. If Ford's bet pays off, it could pad its lead in the lucrative truck market. More importantly, aluminum "future proofs" the truck - and the company - in an era of rising fuel economy standards, says Karl Brauer, a senior analyst with Kelley Blue Book. Ford will announce the truck's fuel economy figures later this month. That could determine if it steals customers away from the Silverado or Ram. Truck buyers are among the most loyal in the auto market.
Bibendum 2014: Daimler studying China for Car2go expansion
Wed, Nov 12 2014Despite a recent setback in the UK, Daimler's carsharing company Car2go remains in expansion mode. The company is currently studying the scene in China (and other countries) to see where the next batch of blue-and-white Smart Fortwo cars will land. "We are looking at the opportunities and doing a lot of market research about [China]." – Moovel China's Su Shasha Su Shasha, from Moovel China's business development department, would not confirm that Car2go would one day be available in China, but did tell AutoblogGreen, "We are looking at all kinds of locations and opportunities worldwide, and China is definitely one big market with many populated cities. We are looking at the opportunities and doing a lot of market research about it. We don't have any concrete plans for the details of the launch yet." Su wouldn't say how long Daimler has been studying China as a place to expand Car2go or when the results of the internal study would be made public. Car2go was on display at the 2014 Michelin Challenge Bibendum in Chengdu, China. Su said that the purpose of the cars on display was to gauge interest from the people attending the event. She did say that people were interested in the exhibit, so that's a start. Daimler is looking for more workers to bring Car2go to China. An online job opening for a "Trainee as Financial Analyst for Car2go China" says that the new hire will be responsible for "continuously refining the car2go China business case," supporting "the local management with business analysis on achieving the growth targets and the refinement of the business model based on the planned roll-outs" and making sure the Car2go plan doesn't run afoul of any local laws. Sounds pretty serious to us.
2015 Ram Promaster City will work for $23,130*
Wed, 12 Nov 2014Need a cargo van, but nothing too big? Fiat Chrysler Automobiles could have the answer in the form of its new Ram ProMaster City. Essentially a domesticated version of the Fiat Doblo, the ProMaster City joins the Ram family as the baby brother to the larger ProMaster (née Fiat Ducato). But if you've been wondering how much one will set you back, Auburn Hills has now announced pricing.
The 2015 Ram ProMaster City Tradesman Cargo starts things off with a $23,130 MSRP, plus a $995 destination charge. Upgrade to the Tradesman SLT Cargo and you'll be looking at $24,655, while the passenger-oriented Wagon and Wagon SLT start at $24,130 and $25,655 respectively (again, plus $995).
The base delivered price of $24,125 makes the new Ram ProMaster City more expensive than its competition, with the Nissan NV200 the cheapest in the segment at $21,605, the Chevy City Express starting at $22,950 and the Ford Transit Connect starting at $23,125 (all prices including destination fees).