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Bob Lutz says Tesla remains 'fringe' brand

We've said it before, we'll said it again: Bob Lutz gives great quotes. From his toilet-themed opinion of global warming to Toyota's deity status, the man knows how to get your attention. His latest? Saying that Tesla Motors is and will remain a fringe brand. Take that, Tesla fanbois. This, of course, is the same fringe company that prompted Lutz and his former colleagues at General Motors to start working on the Chevy Volt around eight years ago. The same fringe company that has easily outsold the similarly priced (but don't call it a competitor) Cadillac ELR with its Model S. Lutz did clarify that the fringe status will only last until Tesla comes out with a mass-market electric vehicle that has a range of 200 to 300 miles. Lutz was on CNBC talking about the TSLA stock's recent performance, and he pointed out that even Tesla CEO Elon Musk says that the California automaker's stock is overvalued these days. Despite its prevalence around these parts, Tesla is not yet a household brand. But the company is working hard to get a cheaper, long-range EV to market in the not-too-distant future, so this fringe thing may not last much longer than that show Fringe did. Watch the video below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: CNBC via Green Car Reports Green Chevrolet Tesla Green Culture Electric Hybrid PHEV cnbc

New auto loans could soon extend out to 84 months

Cars and trucks are more expensive than ever before. In order to boost sales and help consumers afford new vehicles, automakers are offering longer and longer terms for auto loans. This past week, Bloomberg reported that FCA's Ram Trucks division is currently offering the longest loans. Some stretch to 73 months. Jeep, Fiat and Chevy aren't far behind. More noteworthy is that we'll likely soon see lenders moving from 73-month to 84-month loans. That's seven years worth of interest. More than two-thirds of US auto sales come from light trucks like the Ford F-150, Chevy Silverado and Ram 1500. The average transaction price of a new vehicle is well over $30,000. It's not difficult to spec out a heavily-optioned truck up to $60,000. Vehicles depreciate from the moment they roll off a dealer lot, and these six or seven-year loans could hurt consumers and lenders both in the long run. The U.S. Senate voted last week to kill rules that would prevent discriminatory auto lending. These Obama-era guidelines were meant to curtail lenders who offered higher loans based on race, religion, sex or national origin. Related Video: News Source: Bloomberg Chevrolet Fiat RAM Car Buying car loan car values

2019 Chicago Auto Show Truck Roundup: Toyota, Ford, Chevy and Ram bring it

The 2019 Chicago Auto Show features an array of heavy-duty trucks, smaller trucks, other kinds of trucks, and well, more trucks. That means new versions of the 2020 Chevy Silverado Heavy Duty and 2020 Ford F-150 Super Duty, a refreshed 2020 Toyota Tacoma and a trick tailgate on the 2019 Ram 1500. Sound a little crazy? Morgan Stanley research says 68 percent of passenger vehicles sold in the United States last year were classified as light trucks. So actually, bring on the trucks! Here's some impressions on the Chicago reveals, plus our take on the 2020 Subaru Legacy sedan. — Toyota updated the 2020 Tacoma with some light but useful enhancements. An improved infotainment has new audio features and larger screens. The grilles and wheels are different, but nothing drastic. Toyota still offers nice differentiation across the Tacoma lineup, and the design tweaks are subtle but thoughtful. Toyota tends to stretch out the Tacoma's generations, so it's wise to keep modifying and iterating to keep pace in this competitive segment. — Staying with Toyota, the Land Cruiser Heritage Edition is a legit special model that fans of this historic nameplate will appreciate. An anchor of the Toyota line in the United States since 1958, the Land Cruiser's roots date to Toyota's 1951 BJ Series military vehicle. Two colors, Midnight Black and Blizzard Pearl, are exclusive to this model and look slick against the blacked-trimmed grille and lightly bronzed wheels. Inside, bronze stitching is used on the steering wheel, seats, center console and other parts. The best part? Land Cruiser spelled out in script on the rear pillar. It's a limited model (1,200 units) and pricing isn't out yet, but that badge is probably why you buy this SUV. — The 2020 Chevy Silverado HD gets imposing looks that differentiate it from the light-duty range, an eye-popping max towing capability of 35,500 pounds and some updated powertrain elements. A new gas-fed V8 that serves as the entry point is one of the highlights, and the 6.6-liter mill makes 401 hp and 464 lb-ft, up significantly over the old 6.0-liter. There's also a new Allison 10-speed transmission teaming with the Duramax diesel to achieve that lofty max towing figure. With an updated trailering system and a larger cabin, the Silverado HD range is comprehensively remade to fight Ram and Ford. — The 2020 Ford Super Duty is also redone, and like the Chevy line, it gets a new gas V8 checking in at 7.3 liters.