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Presidential hopeful Barack Obama has expressed his desire to see America set a goal of having at least one million plug-in electric hybrid vehicles on its roads by 2015 - an arduous goal to achieve in just seven years considering major carmakers are still years away from offering such vehicles for public sale. Obama has also revised his previous hardline approach on energy issues, endorsing for the first time additional oil drilling off both coasts of the U.S., as well as use of oil in the government's Strategic Petroleum Reserve. Obama made his latest statements at a major address in...
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Bipartisan group proposes $84 billion auto packageA group of 10 U.S. Senators representing both the Republican and Democrat parties have proposed an $84 billion package that aims to drastically change the current automotive landscape of America. Around $20 billion of the package would go to a project to "support the goal of transitioning 85...
Alex Kaufmann -
Update: Audi shelves Q7 hybrid in favor of smaller Q5Despite claims made by Audi board manager Frank Dreves as recently as May that a petrol-electric Q7 SUV hybrid was in the works, latest reports indicate the project has been shelved. The shift in demand for smaller vehicles has convinced Audi that a hybrid version of its new Q5 will be better...
Viknesh Vijayenthiran -
Chrysler reports $1.1 billion profit for first half of 2008Chrysler has bucked the trend of its fellow Detroit 3 carmakers by announcing an operating income of $1.1 billion for the first half of 2008. This is the first time that Chrysler has revealed its financials since being bought by Cerberus Capital Management, and comes as speculation rises that the...
Ralph Hanson -
Toyota 'Winglet' personal transport assistance robotToyota today unveiled the “Winglet”, a personal transport assistance robot ridden in a standing position. The Winglet, still currently under development, is a compact everyday transport tool that is easy to operate and allows users to expand their range of mobility. The concept was...
Ralph Hanson -
2009 Kia Sportage RevealedKia has revealed the first images and details for its 2009 model-year facelift for the Sportage compact SUV. The changes are minimal, consisting of a few minor styling updates and the addition of a new diesel engine, and should ensure the car remains competitive against the top-selling Toyota RAV4...
James Martinez -
General Motors has announced today a $15.5 billion net loss for the second quarter of the year, with declining sales of large pickups and SUVs and $9.1 billion of predominantly non-cash special items largely to blame for the poor result. The other key factors were costs associated with the American Axle and factory strikes, charges related to its U.S. hourly worker buyout program, and actions to reduce North American truck capacity. The loss equates to $27.33 per share for the second quarter - including all the one-off charges and special items - compared with net income from continuing...
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GM planning major company-wide incentivesFollowing from last week’s rushed announcement for an extension of the existing employee discount program to friends and extended family of employees, General Motors has released a new memo to its dealers stating that it plans to offer a $4,000 bonus cash on the purchase of the 2008 GMC Yukon...
Viknesh Vijayenthiran -
MTM Audi RS6: when 580HP is not enoughUpdated with new images. MTM is not known for its restraint - it is, after all, the same company that fitted two engines into an Audi TT to set a speed record at Nardo. Its engineers have now taken the tuner’s brand of high-power, no-holds-barred modification to the internal workings of the...
Alex Kaufmann -
Update: Japanese firms developing carbon-fiber for mass productionCarbon-fiber is seen by many in the auto industry as one of the most effective ways of reducing vehicle weight and improving fuel economy and emissions levels, but the relative expense of the material means that it’s still reserved for only a handful of high-end production cars. BMW has...
Viknesh Vijayenthiran -
Report: GM to cut 15% of salary staff in North AmericaGeneral Motors is expected to announce heavy second-quarter losses tomorrow along with a new round of job cuts planned for North America. This time the cuts will effect salary workers, with latest reports indicating that up to 5,000 jobs, or about 15% of GM’s North American white-collar work...
Viknesh Vijayenthiran -
Toyota tops CAFE ratings for 2007With its industry-leading hybrid program pushing it forward, Toyota has claimed the top spot in the annual CAFE fuel efficiency ratings in the U.S. The result confirms the company's fuel-efficient image as legitimate, though both Honda and Hyundai trailed within just a few tenths of a mile per...
Nelson Ireson -
Updated: General Motors announced today that it would stay in the leasing business through August at the least. The obvious implication is that the company, via its GMAC finance corporation, is considering getting out of the leasing business, much as Chrysler has done. Ford's choice to simply revalue the residuals in its leases effectively takes it out of the market as well, with the price rising enough to make buying a preferable alternative. In addition to remaining in the lease business, GM will also continue to offer cash incentives, competitive interest rates and a variety of lease terms...
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VW Jetta TDI eligible for $1,300 tax credit in U.S.Volkswagen has announced that buyers of the Jetta TDI sedan and SportWagen in the U.S. are eligible for a $1,300 tax credit that’s normally reserved for hybrid vehicles. The Internal Revenue Service (IRS) has issued a certification letter affirming that the Jetta TDI qualifies for...
Siddarth Raja -
Rivalry emerges between Mercedes-Benz and McLaren over next-generation supercarsMercedes-Benz has confirmed that its partnership with British sports car manufacturer McLaren will come to an end when the current agreement to build the SLR supercar expires next year. As the two carmakers head their separate ways and announce plans for separate, and this time competing, supercar...
Viknesh Vijayenthiran -
Chase Auto terminates leases for Chrysler vehiclesChase Auto Finance announced today that it will no longer offer leases for Chrysler vehicles, following a similar announcement made on Friday by Chrysler Financial to stop its own leases on August 1. The reason behind the latest decision according to a Chase spokeswoman is because of fears of...
Viknesh Vijayenthiran -
Microsoft expands auto business, promises to deliver more vehicle interface and electronic systemsMicrosoft today announced that it will expand its automotive business unit with a number of new interface software systems and electronic services expected to be rolled out over the next couple of years. The first of these new features will be the immediate availability of ‘Microsoft Live...
Alex Kaufmann -
Eaton working on new supercharger tech as demand growsToday's superchargers are high-performance, computer-designed and thermally efficient, but they are still based on the same basic design that's been on the market for decades. New developments, including variable speed units and superchargers for hybrids promise to offer even more benefits...
Nelson Ireson -
Part of the company's continuing reorganization plan, General Motors has taken several actions today to lighten its load in the face of reduced demand. Cutting back truck production, much like rival Ford recently announced, has been expected for some time. But reducing the warranty terms on U.S. Saab vehicles is a different tactic to what has been taken so far, either by GM or its rivals. The warrant reduction, which is effective immediately, drops the coverage on all future Saabs sold in the U.S. from the 100,000mi (160,000km) or seven-year coverage that was previously standard to 50,000mi...
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Tata considering Daimler Motor Company revivalAs part of the purchase of Jaguar and Land Rover, finalized in June, Tata Motors secured the rights to the UK-based Daimler Motor Company name. That opens the door for Tata's revival of the marque and a new super-luxury brand to crown its range, even as it pushes Jaguar toward new heights. If Tata...
Nelson Ireson -
Damon Hill to race Tesla Roadster in LondonTesla has announced that former F1 World Champion Damon Hill will race one of its electric Roadsters in the GreenFleet Capital Arrive 'N' Drive 08 event, which kicks off on London’s Horse Guards Parade on the 31st of this month. The challenge aims to promote the latest innovations to reduce...
Kenneth Hall -
Ford will reduce pickup trucks to 38% of overall salesCurrently Ford's sales rely heavily on its pickup truck line, which constituted 52% of its volume last year. The rapid fall in pickup sales volume precipitated by a weak economy and rising fuel prices was reflected directly in the F-150's race down the best-seller list in the U.S. To fix the...
Nelson Ireson -
GM to cut powertrain development time and costs with new Detroit labGeneral Motors has opened an advanced engine testing facility in Detroit, Michigan, which the carmaker claims will allow it to speed up powertrain development times and save more than $200 million per year. According to GM, the new facility is the largest of its kind in the world and it will...
Viknesh Vijayenthiran -
GM Rules Out New Opel FlagshipGeneral Motors Company [NYSE:GM] global product chief Bob Lutz has ruled out developing a new flagship model for the Opel brand, claiming that there’s little chance a model positioned above the new Insignia sedan would be able to compete with Germany’s well-established premium brands...
Viknesh Vijayenthiran