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Former Fisker CEO has some advice for Tesla Motors

Former Fisker Automotive CEO and ex-Chevrolet Volt vehicle-line director Tony Posawatz has some words of caution for Tesla Motors. The long-time automaker executive questions the California automaker's long-term viability – and gives some praise – in a talk with Benzinga, which you can listen to below. While the all-wheel-drive D that Tesla unveiled earlier this month in Southern California wowed a packed crowd, Posawatz (starting at around minute 4:45 in the interview) says Tesla would've been better off taking the resources it expended toward that Model S upgrade and directed them towards speeding up the development of a more affordable plug-in. Perhaps a number of investors agreed, since the company's stock fell the day after the D was announced. Posawatz says Tesla has been over-reliant on the sale of ZEV credits. Posawatz also says that Tesla has been over-reliant on the sale of zero-emissions vehicle credits in California for its earnings and questions whether the automaker will ever work at a large enough scale to sufficiently drive down costs and make consistent profits. Tesla CEO Elon Musk would take issue with this characterization. Posawatz first made his mark in the plug-in vehicle world when he was the vehicle-line director at General Motors for the Volt extended-range plug-in from 2006 to 2012. Later that year, he joined extended-range plug-in maker Fisker Automotive as its CEO, though quit that job during the summer of 2013 as the company was descending into insolvency. He joined the Electrification Coalition this past March. News Source: Benzinga Green Chevrolet Fisker Tesla Electric PHEV Tony Posawatz

First-edition Detroit muscle raises millions for charity at Barrett-Jackson

Amidst all the classic metal crossing the auction block each year in Scottsdale, AZ, Detroit automakers have a tradition of donating the first examples of their most enticing new muscle cars, with the proceeds of their sales going towards worthwhile charities. This year, Barrett-Jackson handled three noteworthy examples. The highest price among them was the first Ford Shelby GT350R Mustang with the VIN #001, which raised $1 million for the Juvenile Diabetes Research Foundation. General Motors donated the first new Chevy Corvette Z06 Convertible, the first retail example of the droptop supercar garnering $800,000 for the United Way. Along with the Z06, GM also donated the first new 2016 Cadillac CTS-V sedan, which brought in $170,000 for Detroit's College for Creative Studies. Although these were the headline Motown muscle machines furnished by the automakers themselves, they weren't the only vehicles auctioned off for worthy causes. A 1950 GM Futurliner bus donated by collector Ron Pratte led the charge when it brought in $4.65 million for the Armed Forces Foundation. Other lots included a custom Jeep Wrangler donated by SEMA ($85k), a new M5 donated by BMW ($800k), a '79 Oldsmobile Cutlass Hurst ($140k), '39 Cadillac LaSalle C-Hawk ($410k), Jeff Gordon's 1999 NASCAR-spec Chevy Monte Carlo ($500k) and a Victory Cross Country 8-Ball motorcycle ($180k). All told, the charity lots raised over $8.7 million for local and national charities. BARRETT-JACKSON REACHES HISTORIC HIGHS FOR SALES, CROWDS AND CELEBRITY APPEARANCES IN SCOTTSDALE • Barrett-Jackson sold 1,611 vehicles, which went for more than $130 million (unaudited), smashing records in the company's 44-year history during the 10-day auction at WestWorld of Scottsdale • Automobilia sales nearly tripled world records, with 2,000 pieces selling for more than $6.55 million • Celebrity attendance and crowds, along with ratings on Discovery and Velocity, spike SCOTTSDALE, Ariz. – Jan. 18, 2015 – Barrett-Jackson, The World's Greatest Collector Car AuctionsTM, reached historic highs during the Scottsdale auction at WestWorld from Jan. 10-18, 2015. During the 10-day auction, Barrett-Jackson recorded more than $130 million in vehicle sales (unaudited) and a world record $6.55 million in automobilia sales (unaudited), making it the highest auction in sales to date. The Ron Pratte Collection alone brought in over $40.44 million in vehicle and automobilia sales.

2014 Chevrolet Silverado and GMC Sierra debut all-new designs, three new engines

General Motors has finally dropped the curtain on the 2014 Chevrolet Silverado and 2014 GMC Sierra. Both trucks have undergone substantial revisions with updated versions of the company's 4.3-liter V6, 5.3-liter V8 and 6.2-liter V8 engines. In a shot across the bows of both Ford and Chrysler, GM says it won't use a V6 engine adapted from passenger car applications. Instead, it developed the 4.3-liter engine based on its proven truck-duty architecture.
All three mills will boast direct injection fuel systems as well as a new cylinder head design. Combined with a revised piston, the new engines feature a smaller combustion chamber with a compression ratio of 11:1 or higher depending on the application. Cylinder deactivation and continuously variable valve timing are all part of the recipe, and each engine is paired with a six-speed automatic transmission with auto grade breaking. So far, no fuel economy or horsepower figures have been released, though GM says the new engines will best their predecessors in both areas.
Outside, the trucks feature a number of enhancements to reduce drag and wind noise, and GM claims both the Silverado and Sierra will offer buyers some of the quietest cabins in the class. Extended cab models now feature front-hinged rear doors to allow easier access to the back passenger area, and Crew Cab buyers can now select between a five-foot, eight-inch bed or a six-foot, six-inch bed. Buyers with a mind toward going off road will also rejoice in the return of the Z71 package, complete with Rancho shocks, front tow hooks and additional under-body protection.