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Earlier this week reports emerged that Ford was in talks with Chinese carmakers Shanghai Automotive Industry Corporation (SAIC) and Changan Auto over a potential sale of Volvo. The Blue Oval has now confirmed that the struggling Swedish carmaker is up for sale but refused to comment on whether there are talks taking place with the rumored Chinese firms. The executive that started the rumors, Changan president Xu Liuping, has revealed to Reuters that his original comments were misquoted by the Chinese newspaper that originally ran the report. Liuping has now commented that he has no knowledge...
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Volt development costing GM $750 millionAs set out in Maslow's hierarchy of needs, basic survival must first be established before one can move on to worry about the esoteric concerns of philosophy, morality or ethics. In an odd twist of logic, however, America's car companies have been forced to premise their immediate survival on their...
Nelson Ireson -
DuPont names white most popular car color in U.S.Paint companies have a somewhat understandable fascination with color popularity, and each year they release their statistics, citing which new car color reigns supreme. This year, DuPont has named white its strongest seller, though just a few months ago PPG said silver was the hottest color. The...
Ralph Hanson -
Ferrari responds to rumors of financial trouble: 'we're fine'The Italian automaker today rebutted media reports of its financial instability, insisting that not only is the company operating within expected parameters, but that everything is fine in terms of sales despite the global slowdown. A report yesterday by Autocar claimed an inside source revealed...
Alex Kaufmann -
Iacocca, Lutz speak out on possible Wagoner oustingRick Wagoner could be spending his final few days as CEO of General Motors if Senator Chris Dodd of Connecticut and his supporters have their way. Already speculation as to which of the world's proven corporate leaders could take Wagoner's place at the helm of the struggling automotive giant has...
Nelson Ireson -
GM, Chrysler bankruptcy up to 400% more expensive than bridge loans, says studyIf you listen to the CEOs and PR spin-doctors, bankruptcy has never been an option for America's carmakers, despite behind-the-scenes talk of 'Plan B' scenarios. It turns out that such aversion to bankruptcy isn't just head-in-the-sand reactionary behavior. If General Motors and Chrysler were to...
Nelson Ireson -
The Covini C6W (short for Covini 6 Wheeler) is an Italian two-seat, two-door supercar with a removable roof section. The vehicle was first conceived more than 30 years ago by Ferruccio Covini but was later ditched until the late 1980s. With the development of new hydro-pneumatic suspension technology, Covini was able to design the front four-wheel section to suit different driving conditions, however the project was delayed once again due to high development costs. Then, in 2004, Covini rolled out the first completed prototype at the Geneva Motor Show, promising to put the car into...
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White House voices concern over bailout planThe Bush administration and congressional Democrats have made a tentative agreement for a $15 billion emergency loan for the Detroit 3, but there remains concern in the White House that the carmakers may still not survive. President George W. Bush has reportedly questioned the ability of the...
Ralph Hanson -
Report: UAW seeking seat on GM boardThe UAW is reportedly seeking a major stake in General Motors as well as a seat on its board in return for making concessions under the carmaker’s latest restructuring proposal presented to Congress last week. The latest news contradicts statements from UAW president Ron Gettelfinger, who...
Viknesh Vijayenthiran -
Chrysler and Chery ‘mutually agree’ to end allianceThe deal between Chrysler and Chery to build small cars for the North American market has been anything but smooth sailing, with numerous delays and obstacles causing both companies to have almost walked away from the deal previously. Now, Chrysler has formerly announced that both it and Chery have...
Jeremy Weber -
GM renews commitment to American peopleNo one in the U.S. can reasonably be unaware of the current condition of the U.S. car market or its primary domestic companies. The carmakers' current pleas to the U.S. Congress for federal loan packages to help prevent bankruptcy - or worse - are the focal point of even mainstream news coverage of...
Nelson Ireson -
Prius plug-in hybrid conversion kit promises 40mi range on electricity, 100mpgWith figures that equal the proposed Chevrolet Volt without the wait and with the familiarity of the highly successful Toyota Prius platform, California outfit Jungle Motors may have a winner on their hands with their plug-in hybrid conversion kit. The company has been in the business of converting...
Nelson Ireson -
Daimler commenced trials of a new mobility concept called the ‘car2go project’ in Ulm, Germany, on October 24 in an attempt to provide a solution for increasing traffic volume in urban areas. The company is now expanding the program to 200 cars from an initial 50, and opening the fleet up to public use. The expanded fleet will be in service by Q1 2009, and if that proves successful, electric cars could be added as well. The project is essentially a car sharing program that charges users $0.19 for each minute they use the vehicle regardless of distance traveled or fuel consumed...
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Detroit carmakers approach Canada for $6.8B in loansA decision on the U.S. government's loan package is expected to come from Congress sometime today, but already carmakers are approaching the Canadian government, seeking more aid. The $6.8 billion sought from Canada would still fall short of the $25 billion originally asked for from Congress, even...
Nelson Ireson -
Terrafugia Transition flying car taking pre-ordersFlying cars have been one of the primary disappointments of the 21st century's expected innovations. The fact remains that nothing approaching what so many enthusiasts had hoped - and been promised - is yet available. We do not fly to work in stylish car-jets, and we do not drive to the shops with...
Ralph Hanson -
Volvo lays off 2,700 workers, in sale talks with China's SAICLabor negotiations between Volvo and Sweden's auto worker union have come to a close today, resulting in the termination of 2,721 emloyees, the vast majority of which are blue collar workers. The layoffs come as Ford has engaged Shanghai Automotive Industry Corporation (SAIC) in talks to buy the...
Nelson Ireson -
European launch for Chevrolet Cruze on track for April 2009While General Motors’ financial strife may be putting many of its development plans on the back burner for now, a statement from Chevrolet's European Executive Director confirms that the upcoming Chevrolet Cruze will remain on schedule for its debut in the European market in just a few...
Viknesh Vijayenthiran -
Future for Swedish carmakers looks bleak without aidSwedish carmakers Saab and Volvo are in dire straits due to the poor financial performance of their respective parent companies General Motors and Ford. When compared to one another, however, Volvo's future is decidedly rosier due to the fact that it has more models, better research facilities and...
Jeremy Weber -
Famed watch company Panerai, whose timepieces were once favored by Italian navy commandos for their superior performance, has now released a new chronograph to celebrate the launch of the Ferrari California convertible. Known as the Ferrari California Flyback Chronograph, the new watch will be limited to a production run of just 400 units making it even more exclusive than the car itself. Featuring a handsome black dial, the Flyback Chronograph is adorned with the famous 'Ferrari' insignia below the number 12 and the 'California' insignia above the six. The 'Flyback' part of the name refers...
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Obama and Dodd tell Detroit CEOs to move onA senior Democratic Senator has demanded that the CEOs of the Detroit 3 step down if they want their companies to be given federal aid. Senator Christopher Dodd of Connecticut singled out General Motors’ chief Rick Wagoner as someone that "has to move on". President-elect Barack Obama was not...
James Martinez -
Top five VW execs earn combined $32 million, give 10% to charityFive board members of the Volkswagen Group are donating a total of €2.5 million ($3.2 million) of their personal income to a German charity, 10% of their combined total income for the year. While currently American carmakers are under fire for excessive executive remuneration, the five VW...
Alex Kaufmann -
Fiat CEO predicts only six carmakers will weather the economic stormMass consolidations and a number of major bankruptcies are inevitable says Fiat Group CEO Sergio Marchionne as the auto industry weathers the global economic crisis and experiences one of the worst slump in sales in several decades. Marchionne goes so far as to predict that only six carmakers will...
Kenneth Hall -
Ward’s Auto reveals '10 Best Engines' list for 2009As we approach the next Detroit Auto Show, one of the events mainstays for the past 15 years, the Ward’s Auto 10 Best Engines awards, has once again been announced. The list, which is the North American auto industry’s only award for powertrains, is selected by Ward’s editors, who...
Viknesh Vijayenthiran -
Mitsubishi and Proton to collaborate on new modelsMalaysia’s state-owned Proton has been linked with a number of international carmakers including the likes of General Motors, Volkswagen, and PSA Peugeot-Citroen for the past several years over the possibility of a tie-up, but one carmaker, Mitsubishi, has been working closely with Proton for...
Jeremy Weber