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Weekly Recap: Chevy and Alfa plot comeback strategies

Chevrolet and Alfa Romeo were two of the 20th Century's most iconic automotive brands. Chevy embodied America's post-war power and confidence. Alfa was the definition of the stylish Italian sports car. They reached halcyon heights in the 1950s and '60s, before declining precipitously amid new competition, changing consumer tastes, and uneven corporate management. Both say 2015 is the start of something better, and this week Chevy and Alfa laid out ambitious plans and showcased new cars that they hope will make them more relevant this year, and in the coming years. Each brand sits at its own crossroads, and their paths forward are as different as the Chevy Cruze and the Alfa Romeo Giulia. Chevy is still a sales beast, as evidenced by its volume of 4.8 million vehicles sold around the world last year. Chevy executives are fond of saying one of their cars is sold every seven seconds, which illustrates the strength and reach of a car brand that is the fourth largest in the world. "Make no mistake about it, we are a brand for the people," said General Motors North America president Alan Batey. But he wants consumers to want to buy a Chevy for its design and technology, not simply because it's affordable. That starts with all Chevys now featuring a distinctive a family look, with sporty cues from the Corvette or strong lines that riff on the Silverado pickup. "We want people to fall in lust with our cars," said Mike Pevovar, executive design director for Chevy passenger cars. "That initial emotional attraction has to be right on the exterior, and that's where form comes into play." Chevy is also loading up its cars, like the freshly unveiled 2016 Chevy Cruze, with technology to appeal to a younger crowd that prizes connectivity. The Cruze will offer Apple CarPlay and Android Auto with its MyLink infotainment system, and OnStar with 4G LTE and wifi. Seeking out younger buyers is also sound business practice: Millennials now outnumber Baby Boomers as the largest single age group in the United States. Younger buyers also can improve a brand's image, which is another area where Chevy would like to improve. Chevy ranks 82nd on Interbrand's Best Global Brand's list, behind 11 other automakers. Apple is No. 1. "We need our own variation of the Genius Bar," Batey said. 2016 Alfa Romeo Giulia View 3 Photos Meanwhile, Alfa is in different shape.

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 cuts F-150 fuel use through CNG-capable fleet sales, EcoBoost

The possibility of $1-a-gallon fuel would make a lot of US governmental entities sit up and take notice. The state of Oklahoma and the city of Dallas are making that happen. Those two entities are buying up a bunch of Ford F-150 pickups retrofitted to run on compressed natural gas (CNG), all in the name of cost savings and emissions reduction. Oklahoma is buying 256 of the F-150s, while Dallas is buying another 65. The trucks, which cost between $6,000 and $9,500 to retrofit (on top of the original price), can run on either CNG or liquefied petroleum gas (LPG). And while that's a substantial hit, conversion costs are typically paid back in three years thanks to lower refueling costs. CNG prices are as low as $1.07 a gallon in parts of Oklahoma. How much lower? The national average price for CNG is about a buck and a half less than the $3.67 average per-gallon cost of gasoline. And CNG prices are as low as $1.07 a gallon in parts of Oklahoma, where CNG is plentiful. CNG also cuts tailpipe greenhouse gas emissions by about 20 percent compared with gasoline, while the retrofitted trucks can go as far as 450 miles from their CNG tanks in addition to the 300-mile range from their conventional tanks. That's useful in a bit state like Texas. This week, the US Energy Department trumpeted a $5.9-billion loan program that Ford accessed to upgrade its factories for production of its EcoBoost engines, noting that Ford has sold a half-million F-150 trucks with EcoBoost engines. Those trucks have collectively cut fuel use by almost 57 million gallons of gas during the past three-plus years. Check out Ford's press release on the F-150 purchases below and the Energy Department's statement about its loan program here. OKLAHOMA, DALLAS ORDER 300-PLUS CNG-CAPABLE FORD F-150 PICKUPS AS DEMAND GROWS FOR ALTERNATIVE FUEL OPTION The state of Oklahoma and its agencies to buy 256 Ford F-150 trucks prepped to run on compressed natural gas; Dallas orders 65 for its fleet 2014 F-150 available with gaseous-fuel prep option on 3.7-liter V6 engine; can run on CNG or liquefied petroleum gas (also called propane autogas) By summer, Ford will offer eight vehicles that can run on clean-burning, affordable CNG; the company is on track to sell more than 15,000 such vehicles in 2014 The state of Oklahoma, its agencies and the city of Dallas have ordered a total of 321 Ford F-150 pickups that can run on compressed natural gas.