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Treasury says auto bailout tally drops to $20.3 billion

In December, the US Treasury announced that it was going to sell all of its shares in General Motors within 12 to 15 months. The first tranche of the 500-million total shares was purchased by GM, which took 200 million of them at $27.50 per share. That price represents an eight-percent premium over the market price at the time. The remaining 300 million shares will be sold "through various means in an orderly fashion."
Of the $418 billion disbursed through the Troubled Asset Relief Program (TARP), a report in Automotive News indicates that "about 93 percent" has been paid back, and the latest figures put Treasury's loss from the program overall at $55.58 billion. That's a $4.1 billion improvement on the last figure, when the expected red ink added up to $59.68 billion. The auto industry's portion of that loss is estimated to be $20.3 billion, a 16-percent drop from the earlier estimate of $24.3 billion.
The Treasury now owns 19 percent of GM, but if all goes well, there will be no more cause for anyone to utter "Government Motors" by the end of Q1 next year. A loss of some kind is still expected, however. Although GM's stock price is close to $29 at the time of this writing, that's still $4 below its IPO price and well below the $72 share price necessary for the government to come out even on its GM investment. On second thought, maybe the ribbing will continue.

2014 Ram Power Wagon is bigger and badder than ever [w/video]

"The 2014 Ram Power Wagon fills a need for those who travel into extreme terrain for rescue or recreation." - Reid Bigland
More, more, more. That's the philosophy behind the latest Ram Power Wagon. The extra-brawny, Ram 2500-based pickup is back for 2014, and naturally, it's even more extreme than its predecessor.

eBay Find of the Day: 1979 Chrysler ETV-1 electric car prototype

Electric cars may be reaching their time in the sun with successes like the Tesla Model S, but the basic concept goes back to practically beginning of motoring. EVs also saw a brief renaissance in the 1970s when automakers were trying find a way around rising fuel prices. This 1979 Chrysler ETV-1 concept for sale on eBay Motors is a great example from that era.
Built in 1979, designers hoped the ETV-1 would preview what an electric car would look like in 1985. The base price was slated to start at $6,400, or the rough equivalent of $20,536, which seems like an optimistic price. General Electric created the ETV-1's powertrain, and Chrysler was in charge of styling. At the time, the Department of Energy called it "the first advanced four-passenger subcompact experimental electric car."
While it seems ancient compared to today's EVs, the ETV-1 featured regenerative braking and a computer-controlled electric motor. Chrysler reported a 100-mile range at 45 miles per hour with two passengers in the car. The range fell to 75 miles with four passengers. Acceleration was not brisk with Chrysler claiming the run to 30 mph in 9 seconds. Power was stored in 18 lead-acid batteries, and a full charge took 10 hours from a home outlet.