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Honda Civic, Volvo XC90 named 2016 North American Car and Truck/Utility of the Year

It's a great day to be the Honda Civic and Volvo XC90. These cars are the official 2016 North American Car and Truck/Utility of the Year, with the awards just having been announced at the Detroit Auto Show. The Civic is a great car, and a fantastic entry in the compact class. To us, its win isn't a surprise, though our enthusiast hearts were really rooting for the runner-up Mazda MX-5 Miata. The new Chevy Malibu was also a finalist for this year's award. As for the Truck/Utility award, we wholeheartedly agree with the Volvo XC90 choice. It's a fantastic-looking, premium, tech-forward vehicle, and represents a huge step forward for Volvo here in the United States. But its runners-up, the Nissan Titan XD and Honda Pilot, are also great choices, bringing a lot of stiff competition to some pretty important segments. Here's how the jury voted: Car of the Year Honda Civic – 203 points Chevy Malibu – 181 points Mazda MX-5 Miata – 146 points Truck/Utility of the Year Volvo XC90 – 310 points Honda Pilot – 111 points Nissan Titan XD – 109 points

2021 Volvo XC40 Recharge priced at $54,985

The final piece of the puzzle for the 2021 Volvo XC40 Recharge is falling into place today, two weeks after official EPA range information became available. Volvo just announced pricing, and it’s going to start at $54,985, including the $995 destination charge. Of course, buyers can also expect to take advantage of the $7,500 federal tax credit (and other state credits) with their XC40 Recharge purchase. That makes the total dent in the wallet $47,485 for a base crossover, or even cheaper depending on what state you live in. There isnÂ’t a long list of available packages and options, but Volvo detailed a few of them for us. The most expensive is the Advanced Package that adds VolvoÂ’s Pilot Assist driver assistance system, a 360-degree camera, wireless phone charging, a 12-volt outlet in the luggage area and a headlight cleaning system for $1,300. The Climate Package adds a heated steering wheel, heated rear seats and heated wiper blades for $750. And the last important option weÂ’ll point out is a heat pump for $350. Volvo says the heat pump can precondition the cabinÂ’s temperature and extend battery range, so it feels like a no-brainer for such a cheap price. Compared to the XC40 RechargeÂ’s direct competition, the crossover is priced in the same ballpark. A Tesla Model Y Long Range is $49,990. The base Ford Mustang Mach-E with all-wheel drive starts at $46,695. Neither the Ford nor the Tesla are perfect comparisons, though. The XC40 is both smaller and more premium than both of those options. WeÂ’ll note that itÂ’s not a huge stretch to go from the XC40 Recharge to the Polestar 2 that begins at $61,200, a $6,215 climb above the base XC40 Recharge. 2020 Volvo XC40 Recharge View 23 Photos Charging network Volvo also announced that itÂ’s beginning a collaboration with ChargePoint as the official charging network for the XC40 Recharge. That will give owners approximately 115,000 places to charge their electric crossover, though Volvo is light on the details for now. We asked, and Volvo said that an announcement about charging software integration is coming soon. DonÂ’t expect free charging to be part of the deal though, as Volvo tells us thatÂ’s not part of the companyÂ’s “immediate plans.” The partnership will allow owners to purchase a ChargePoint Home Flex charger for their home at the time of their XC40 purchase, but we donÂ’t have pricing on this option yet. You can place an order for the electric crossover on VolvoÂ’s website now.

Daimler rebuffs Geely offer to buy stake

HONG KONG/BEIJING - Daimler AG has turned down an offer from China's Geely to take a stake of up to 5 percent via a discounted share placement, as the German automaker has long been reluctant to see existing shareholdings diluted, sources with knowledge of the talks said. A stake of that size would be worth $4.5 billion at current market prices. Although Daimler declined the offer, it told Geely it was welcome to buy shares in the open market, the sources added. Carmakers in China have embarked on a flurry of dealmaking, as they scramble to boost production of electric and plug-in hybrid vehicles ahead of tough new quotas to be imposed by Beijing, which wants to reduce urban smog and lower the country's reliance on oil. People with knowledge of Geely's thinking said the company was keen to access Daimler's electric car battery technology and wanted to establish an electric car joint venture in Wuhan, the capital of Hubei province. Geely, which also owns Swedish car maker Volvo, is still hopeful it can secure a deal in some form over the coming weeks, they added. The two automakers met in Beijing in recent weeks at Geely's behest. There, the Chinese firm, formally known as Zhejiang Geely Holding Group, offered to take a stake of between 3 percent and 5 percent if Daimler would issue new shares at a discount, the sources said. It was not immediately clear what kind of discount for the shares Geely had in mind or whether Geely was interested in buying the shares on the open market. A spokesman for Geely declined to comment. A spokesman for Daimler said the company was "very happy with our shareholder structure at present", but added that it would welcome new investors with a long-term interest in the company. Shares in Daimler were up 1 percent in early Wednesday trade, in line with the broader market.DAIMLER ALREADY TIED TO BAIC, BYD Geely, which has a market value of some $32 billion, is the leading domestic brand in China with a 5 percent market share, according to an analysis by Nomura Securities. A stake of 5 percent would establish it as Daimler's third-largest shareholder behind the Kuwait Investment Authority and BlackRock, who hold 6.8 percent and 6 percent respectively, according to Reuters data.