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Yesterday the U.S. Treasury announced it would be backing GMAC with $6 billion in total funding, and today both the car finance company and General Motors, which gets 85% of its customer loans from GMAC, announced a wave of new incentives and programs to drive up sales. GMAC announced it would be dropping its minimum credit rating floor from 700 points to 620 points, which is about the national average. The previous 700-point floor was hurting dealers who couldn't find financing for many of their potential customers, according to Mark LaNeve, GM's vice president of sales and marketing. "The...
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GM logs 10,000 advance orders for new CamaroThe new Camaro looks poised to take a favored position in the new muscle car wars with its strong entry-level V6 offering and over-the-top SS power, and buyers are already agreeing - to the tune of 10,000 pre-orders, according to General Motors. The first cars ordered were primarily SS models with...
Nelson Ireson -
Dyno tests confirm Nissan GT-R drivetrain loss, power ratingsTesting cars for power ratings is a tough and tricky business - accounting for different conditions, locations, equipment and techniques can make it tough to generalize results. And to make matters worse, there is often a lot of guesswork employed to get between real, delivered wheel horsepower and...
Ralph Hanson -
Nissan 370Z goes on sale today, priced at $29,930A simplified trim lineup and just a handful of available configurations for 2009 make the new Nissan 370Z a simpler car than its predecessor, but paradoxically, new features and options have made the car considerably more complex. Starting sales today at $29,930 for the six-speed manual-equipped...
Nelson Ireson -
Report: Alonso in secret agreement to join Ferrari F1 team by 2011Two-time F1 world champion Fernando Alonso has reportedly inked a secret deal with Ferrari that will see the Spaniard joining the Scuderia Ferrari team in 2011. According to Reuters, the contract is for a four year stint, however there are several clauses that will allow both Ferrari and Alonso to...
Kenneth Hall -
Mercedes' SL65 AMG Black Series takes its first dyno runsBuyers of the 2010 Mercedes SL65 AMG Black Series coupe will be happy to know they are getting what they paid for, as Automobile has proved with its hands-on dynamometer testing of the car. Generating 573hp and 682lb-ft of torque at the rear wheels, the car's big V12 will still have its work cut...
Alex Kaufmann -
Rumors, reports and even the odd video of its slick dual-clutch AWD gearbox grenading itself into oblivion have plagued the Nissan GT-R since shortly after its release into the wild. A short while later we learned that using the undocumented AWD launch control feature could void the relevant sections powertrain warranty, Nissan followed that up with a decision to strip the troublesome feature from 2010 models. Now a team of Aussie engineers from Pfitzner's Performance Gearboxes (PPG) are working to become the first to offer a more durable upgrade alternative for those that insist on...
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Kirk Kerkorian Finishes Sell-Off Of Entire Ford StakeSignifying a final retreat from his expensive and unprofitable gambit made for a significant holding in Ford, billionaire Kirk Kerkorian has finished selling his Ford shares. At the peak of Kerkorian's holdings in Ford, he owned nearly 7% of the company's stock, spending more than $1 billion to...
Nelson Ireson -
Hartge BMW Z4 M with M5 V10 engine for saleShoehorning big engines into little roadsters is a classic operation - take the Breckland Beira V8 and Irmscher GT40 for a pair of recent examples - but the tuners at Hartge have accomplished what may be one of the most impressively OEM-looking engine swaps of recent times. The combination of BMW...
Alex Kaufmann -
Ginetta Working On Electric Version Of G50 Sports CarWith a half-century of car-building experience for both the road and track, the UK's Ginetta is now setting its sights on a truly modern goal: a high-performance electric vehicle. Details on the car remain closely held, but the car's first development steps are already underway. The G50 is...
Kenneth Hall -
BMW retires the Z4 M's straight-six engineFantastic engines are to car people like a fine vintage is to a wine enthusiast - not just to be used, but enjoyed, savored as some of the highest expressions of the art of their creation. But like all such things, they are fleeting. BMW's S54B32 engine, the straight-six 3.2L cast-iron motivator...
Nelson Ireson -
Branew modified 370Z to debut at 2009 Tokyo Auto SalonJapanese tuning house Branew has revealed some early shots of its customized 2009 Nissan 370Z - two weeks before the car is due to be unveiled at the Tokyo Auto Salon. The images reveal the new 370Z with handsome aerodynamic modifications and adorned in Branew's familiar satin white coloring...
Ralph Hanson -
With the global economic crisis forcing consumers to tighten their purse strings, small cars with low sticker prices and high fuel efficiency are becoming more and more popular. While European and Asian markets have been popular with small cars for some time now, it is only recently that selling the compact runabouts in North America has become attractive to manufacturers as the masses clamor for greater value. Some of the manufacturers considering entering the U.S. market see the current economic conditions as a convenient time to bring their small cars to one of the world's largest...
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Subaru Impreza WRX STI fitted with ings N-Spec bodykitJapanese tuning firm and manufacturer of custom aero parts, ings, has unveiled a bodykit for the new generation Subaru Impreza WRX STI. The latest kit is part of its N-SPEC series of bodykits, which includes a kit designed specifically for the Mitsubishi Lancer Evolution X. In addition to tuning...
Jeremy Weber -
First 2010 Ford Mustang, Shelby GT500, and Chevrolet Camaro to be sold at Barret-Jackson auctionNext year's Barret-Jackson vehicle auction promises to be a stunning event, with news coming in that the first 2010 Ford Mustang and the first 2010 Shelby GT500 will both be auctioned off at the event. As if that wasn't enough, the auction will also include bidding for the first 2010 Chevrolet...
Ralph Hanson -
Jeremy Clarkson picks Corvette ZR1 as best car of the yearMotoring personality and notorious Top Gear presenter Jeremy Clarkson has been seen on camera many times commenting on the poor construction and design of American-built cars, but in a surprising development the outspoken Brit has chosen Chevrolet's Corvette ZR1 as his favorite car of the year...
Viknesh Vijayenthiran -
ings reveals N-Spec kit for Mitsubishi Lancer Evo XSpecialist Japanese tuning company and racing house ings has unveiled a new aero kit for the Mitsubishi Lancer Evo X. The new kit consists of a race-inspired front bumper, new front canards, brake ducts and intercooler shrouds, as well as a large rear wing, known as the Z-Power Wing. The new...
Ralph Hanson -
New Camaro may be delayed due to supplier lawsuitGeneral Motors has sued one of its bankrupt parts suppliers, Cadence Innovation, and now the outcome of the lawsuit may be the determining factor in whether or not the highly anticipated 2010 Chevrolet Camaro will arrive on time. GM was originally planning on putting the Camaro into production in...
James Martinez -
Automotive parts supplier Eaton is best known for its forced induction systems, but now the company has unveiled details behind a product that it claims can improve fuel economy by "between 50 and 70%". Known as the 'series hybrid hydraulic system', Eaton has revealed the new technology is being developed jointly with the Environmental Protection Agency under a Cooperative Research and Development agreement, giving the company some credibility in its claims. Eaton explained that in a series hybrid hydraulic system, the conventional transmission and driveline in a vehicle are replaced by a...
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Report: Mexican billionaire buys Honda F1 teamHonda has reportedly found a buyer for its F1 team in the form of Mexican billionaire, and the world's second richest man, Carlos Slim Helu. Earlier this month, Honda announced its withdrawal from F1 following the effects of the current global economic crisis and the need to drastically reduce...
Kenneth Hall -
Teaser video for 2010 Toyota PriusToyota’s next-generation petrol-electric Prius hybrid is scheduled to make its world debut at the Detroit Auto Show in January, however new images of the car, plus this latest teaser video, have made their way onto the web, showing up-close details of the interior and exterior of the upcoming...
Viknesh Vijayenthiran -
Volvo reinstates free maintenance on new carsFree maintenance programs were once de rigeur for the upper ranks of the automobile industry, but the service has been dying a slow death with brands like Mercedes-Benz and Audi abandoning their programs. BMW and Saab kept theirs however, and Volkswagen recently announced the start of free...
Nelson Ireson -
BYD plug-in hybrids delayed in non-Chinese markets until 2011Chinese carmaker BYD has pushed back the expected release date for its plug-in hybrid vehicles destined for non-Chinese markets. The company’s chairman, Wang Chuanfu, stated that the original target of 2010 was being pushed back by a full year to 2011. The new date puts the release for the...
Jeremy Weber -
Toyota committed to F1 despite profit slumpThe global economic crisis is taking its toll on many carmakers, including industry juggernaut Toyota, which has forecasted a $1.7 billion loss for the financial year ending March 2009. This will be the carmaker’s first loss in 71 years and to counter it there will be significant cost cutting...
Jeremy Weber