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Cerberus boss John Snow has told reporters that there are no plans to sell the recently purchased Chrysler Group and that the troubled US auto industry is due for a turnaround soon. Snow also revealed that management were pleased with Chrysler CEO Tom LaSorda's recovery plan, which is expected to see positive profit levels return by 2009. In charge of managing its acquisitions are 150 corporate managers, including former Volkswagen exec Wolfgang Bernhard, who has been assigned to look after Chrysler, reports the Associated Press. Cerberus will pay up to $6.1 billion dollars for Chrysler and...
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GM confirms diesels for US by 2010GM has announced that it will offer fuel-efficient diesel engines in its Cadillac and Saturn lineup for US markets by 2010. The diesels will be used in GM’s cars, crossovers and light-duty trucks according to Vice Chairman Bob Lutz. We may get a preview of one of the first diesel engines that...
Viknesh Vijayenthiran -
No U.S. grand prix in 2008An agreement between the F1 controlling body and the Indianapolis Speedway has failed to materialise by the agreed July 12th cut-off and has therefore nixed any plans for a grand prix in the US next year. Bernie Ecclestone, the sport’s commercial supremo, said "We didn't reach an agreement...
Siddarth Raja -
Preview: VW’s 235 MPG ProjectWhen Volkswagen unveiled its 1-Liter concept car back in 2002 nobody actually thought such a car could ever make it to production. The concept utilized lightweight construction techniques, superior aerodynamics and low resistance tires to achieve its amazing 1L/100km fuel consumption figure...
James Martinez -
US considers 35% tax bonus for plug-in hybridsUS Congress is considering implementing a tax break for owners of hybrid cars who convert them into rechargeable plug-ins despite the fact that such a move would void any manufacturer’s warranty. The proposal was put forward by the head of the House global warming committee, Ed Markey, and if...
Viknesh Vijayenthiran -
BMW hasn't ruled out more takeoversBMW has not ruled out a possible takeover as part of its new growth strategy that’s expected to be unveiled later in the year. In an interview with German newspaper Börsen-Zeitung, BMW finance chief Stefan Krause told reporters that “the possibility of acquisitions is not ruled out in...
Viknesh Vijayenthiran -
When the U.S. distributor of Noble Automotive, the Ohio-based 1G Racing, bought the rights to build local versions of Noble M400 and M12 supercars, there was a clause that required 1G to rebadge and rename the cars. Thus, the Rossion Q1 was born. Based loosely on the British-designed supercars, the Q1 has been upgraded with luxury appointments including satellite navigation, power mirrors, hand-stitched leather interiors, and a premium sound system. Sharing a mix of components from both the previous Noble cars, the Q1 offers up to 450 horsepower and 400 pound-feet of torque in a body that...
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Bentley Flying Spur: The preferred choice for jewel thievesThieves in west London robbed a jewelry store last month after arriving to the site in a hired Bentley Flying Spur. Security cameras captured video footage of the culprits, who were dressed as though there were enjoying a lavish holiday. One was wearing a Panama hat and dark blazer and the other...
Viknesh Vijayenthiran -
Spy Shots: 2010 Porsche Panamera up closeThese latest rounds of spy shots are probably the best images yet of the upcoming Porsche Panamera, and they leave us wondering if designers will be sticking with the bland lines seen on this test mule. It’s still early days, as the Panamera isn’t expected to be officially unveiled...
Siddarth Raja -
Nardo top speed shoot-outSupercars are defined by how fast they can go and how quickly they can reach their Vmax, and there’s only one test that pits an array of the world’s top metal against each other, Auto Motor und Sports (AMS) annual Nardo top speed shoot-out. Surprisingly, Bugatti’s Veyron, the...
Viknesh Vijayenthiran -
Hamann’s new kit for the Lamborghini Murciélago LP640Not that the Lamborghini Murciélago LP640 needed more aggression, but for the crazy guys at Germany’s Hamann a car can never be too hardcore. That’s why they’ve released yet another performance aero pack for the Italian thoroughbred. Described as resembling a Stealth-Bomber on...
James Martinez -
Chrysler and Mercedes-Benz will continue parts sharingDespite having just announced their split, Mercedes and Chrysler will continue to share electrical systems, SUV components and other technology long after the de-merger has been finalized and the dust has settled. A joint operating board will be set up to manage any parts sharing programs with...
Ralph Hanson -
The Detroit 3 carmakers, GM, Chrysler and Ford are teetering on the edge of 50% market share and could slip below the milestone mark by as early as this month. For the end of June, the trio commanded just 50.2% of the US domestic market, down from 56% the year before and a new all time low for the struggling carmakers. Most of the competition is coming from Japanese brands, which have moved up to a 37.5% share last month and show no sings of slowing with heavy discounting continuing on even the popular models, reports Automotive News. Now the question is whether or not the Detroit 3 should...
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Ford joins Edison power over plug-in hybrid techFord is reportedly teaming up with the Southern California Edison power company to help further the introduction of plug-in hybrid vehicles. CEO Alan Mulally will be meeting with Edison boss John Bryson at the utility’s Rosemead headquarters tomorrow for the official announcement. Though...
James Martinez -
Rolls-Royce Drophead Coupé sells for £800,000A Rolls-Royce Phantom Drophead Coupé has been bought at a charity auction for £800,000, more than triple the £260,000 sticker price. The successful bid was made at the 9th Annual White Tie and Tiara Ball charity event run by Elton John by a private buyer who’s expected to take delivery in...
Kenneth Hall -
VW mulls US factoryExchange rates against the American dollar have been rising sharply for the last five years and are now starting to seriously affect automotive imports. Volkswagen has usually sold its vehicles in the US for less than they were available even in European countries, but the recent rise of the Euro...
Alex Kaufmann -
Chrysler’s Chinese built car likely to cost $10,000The first Chrysler model to be sourced from China’s Chery Auto will likely have a $10,000 sticker price when it finally goes on sale, not the $7,000 analysts previously predicted. The car is due to hit the US market in 2009 and will most likely be sold under the Dodge label. According to...
James Martinez -
Land Rover boss hints at smaller modelIn an effort to reduce its fleet average carbon-dioxide emissions, Land Rover is pondering adding a new smaller model to its lineup. The carmaker’s current smallest model, the Freelander compact SUV, emits 194g/km of CO2, which is well off the proposed targets of 120g/km put forward by the...
Viknesh Vijayenthiran -
To mark the end of the current model’s run, Subaru has released a new final-edition GB270 Impreza WRX saloon and sports wagon. Named after the UK’s Rally GB, Subaru’s most successful WRC event, the new GB270 comes equipped with a 266hp 2.5L boxer engine enhanced by motorsport company Prodrive. Power is up 40hp over the standard WRX and torque is boosted by an additional 74lb-ft, now standing at 310lb-ft. The extra performance results in a 0 to 60mph time of 5.3 seconds versus 5.9 seconds for the regular model, and a 0–100mph time of 13.9 seconds instead of 14.4...
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Ford Of Europe’s Design Chief Moves To Land RoverIn what appears to be more of a demotion rather than an advancement, the chief designer at Ford of Europe, Phil Simmons, will head over to Land Rover as the SUV company's first-ever studio director responsible specifically for the iconic Range Rover. Simmons joins the Land Rover design team on the...
James Martinez -
Audi reports record sales for first six months of yearAudi has sold just over a half a million cars in the first half of the year, a 9.8% increase over last year and a new record for the luxury brand. Having sold approximately 509,000 units this year, Audi could even reach its 2008 target of selling a million vehicles twelve months early, avowed Audi...
Ralph Hanson -
Video: BMW’s new 1-series coupeWhen the first blurry images of the new 1-series coupe turned up we were a bit disappointed and thought the car looked out of proportion. However, this latest video has put our fears to rest and gives us a preview of how the new 1-series will look out on the road.
Alex Kaufmann -
MG and Rover may rejoin with help from Chinese govtThe owners of MG and Rover, the Nanjing and Shanghai auto corporations, are reported to be in talks over a possible deal to create a new MG-Rover group based in China. The deal is said to be backed by the Chinese government, which is hoping to increase the number of export vehicles. Shanghai Auto...
Siddarth Raja -
Spy Shots: More Ferrari F430 Challenge Stradale picsA camouflaged Ferrari F430 has been spotted by spy photographers near Germany’s Nurburgring circuit. Its new exhaust pipes positioned higher up in the rear bumper than the standard model reveal that this is in fact the Challenge Stradale that's due to be unveiled at September’s...
Viknesh Vijayenthiran