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| From the Collapse of the Auto Industry Shall Rise the Electric Car
May 31, 2009 at 6:12 pm
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|   We are bearing witness to a catastrophic rupture of the car industry as we know it. Not only in terms of the economic machinery upon which it is run, but more so upon the fuel its creations will use. The near death of the auto industry is bringing with it the slow death of the combustion engine. When GM first introduced the Chevrolet Volt electric car concept, car sales were brisk, oil prices reasonable and the economy appeared healthy. Now that the car is nearing mass production and that most other automakers have subsequently unveiled electric car programs of their own,  To the roll call of auto industry titans that have gone or are going bankrupt -- Visteon, Chrysler, GM, Saab, Karmann, ASC, Source Interlink -- we can now add Tier 1 supplier Metaldyne, which filed for bankruptcy for its American operations.  Click above for a high-res gallery of the Fisker Karma The last time we heard about the goings on at Kleiner Perkins Caufield & Byers it was as part of Fisker's 85 million VC funding announcement.  Ruff and Tuff Electric Vehicles Inc. (RTEV) has spun off its Wheego Electric Cars division. Wheego's first car, the low-speed Whip (pictured), should be available in late July (yes, that's a delay).
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| VIDEO: Zerocarbonista wind-powered car still being invented
May 31, 2009 at 4:58 pm
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|   It's been a little more than a year since we first started tracking the development of the wind-powered car by Ecotricity founder, Dale Vince. His latest video installment, part 9 of 6 (not a typo), is now available and in it, we catch up on all the latest news and are even assured that the completion of the vehicle is within sight. The former Lotus Exige is in the process of re-assembly and not only is the front end now complete, but the big battery box has also been bonded in.  General Motors' place in downtown Detroit appears safe, at least for now. After a few days of frantic phone calls, letters and tax incentives being offered from two different cities... We are bearing witness to a catastrophic rupture of the car industry as we know it. Not only in terms of the economic machinery upon which it is run, but more so upon the fuel its creations will use.  Click above for a hi-res gallery of the 2010 Subaru Legacy The 5th-generation Subaru Legacy has officially begun production, with the first car rolling off the Lafayette...  Bugatti Veyron 16.4 Grand Sport – Click above for a high-res image gallery The marque's faithful (read: the obscenely wealthy) have been waiting a long time for a convertible Bugatti.
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| First 2010 Subaru Legacy rolls off the line in Indiana
May 31, 2009 at 4:57 pm
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|  Click above for a hi-res gallery of the 2010 Subaru Legacy The 5th-generation Subaru Legacy has officially begun production, with the first car rolling off the Lafayette, Indiana assembly line late last week to confetti-strewn, ribbon-cutting fanfare. Ruff and Tuff Electric Vehicles Inc. (RTEV) has spun off its Wheego Electric Cars division. Wheego's first car, the low-speed Whip (pictured), should be available in late July (yes, that's a delay).  Police are blaming "bald tires" on this accident, which occurred while an FBI agent drove a Ferrari F50 seized in a drug raid to a storage warehouse. We'll blame the V12 and a heavy hoon-foot.  Today is the day says Andrew, "We will start general assembly build, what that means is the body in white comes out of the body shop and is positioned at the beginning of this pre-production assembly line over at the Warren Tech center.  MINI E - Click above for a hi-res gallery Despite thousands of people signing up for a chance to lease the MINI E, only 500 are being produced at this stage, with 50 of those destined for Berlin.
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| Tier-1 supplier Metaldyne files for Chapter 11 bankruptcy too
May 31, 2009 at 3:59 pm
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| To the roll call of auto industry titans that have gone or are going bankrupt -- Visteon, Chrysler, GM, Saab, Karmann, ASC, Source Interlink -- we can now add Tier 1 supplier Metaldyne, which filed for bankruptcy for its American operations. Metaldyne makes metal bits for car and truck chassis and NVH components. General Motors' place in downtown Detroit appears safe, at least for now. After a few days of frantic phone calls, letters and tax incentives being offered from two different cities... We are bearing witness to a catastrophic rupture of the car industry as we know it. Not only in terms of the economic machinery upon which it is run, but more so upon the fuel its creations will use. It's been a little more than a year since we first started tracking the development of the wind-powered car by Ecotricity founder, Dale Vince. His latest video installment... Click above for a hi-res gallery of the 2010 Subaru Legacy The 5th-generation Subaru Legacy has officially begun production, with the first car rolling off the Lafayette...
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| Roofless Tyrant: Bugatti Veyron 16.4 Grand Sport enters production
May 31, 2009 at 3:06 pm
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| Bugatti Veyron 16.4 Grand Sport – Click above for a high-res image gallery The marque's faithful (read: the obscenely wealthy) have been waiting a long time for a convertible Bugatti. The last time a roadster rolled out of Molsheim was in the company's heyday before WWII, and despite our teenage fantasies, no roofless EB110 ever materialized from the Romano Artioli era. But after over a half century's wait, Bugatti has officially returned to the world of open-air motoring. We are bearing witness to a catastrophic rupture of the car industry as we know it. Not only in terms of the economic machinery upon which it is run, but more so upon the fuel its creations will use.  This is shaping up to be a great year for cars. The irony is almost unbearable. Automakers around the world are in crisis mode, hanging on by their fingernails and by...  Click above for a high res gallery of the 2011 Chevy Volt With bankruptcy for GM pretty much certain for next week, the Wall Street Journal has taken a look at whether...  BMW Roadsters - Click above for a high-res image gallery We generally think of BMW as the maker of some of the world's best sports sedans, but its put out some impressive roadsters over the years.
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| GM: Location of HQ 'just not a priority'
May 31, 2009 at 2:38 pm
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|  General Motors' place in downtown Detroit appears safe, at least for now. After a few days of frantic phone calls, letters and tax incentives being offered from two different cities, GM said it's got much more on its plate than thinking about moving its world headquarters from the glass-and-steel towers at the 73-story Renaissance Center.  MACKINAC ISLAND ? Wayne County officials and Detroit Mayor Dave Bing have cooked up a plan to grant Renaissance Zone status to General Motors Corp.'s headquarters in the Renaissance Center...  Calling it an unprecedented proposal, Warren Mayor Jim Fouts offered General Motors Corp. long-term tax incentives Thursday to move its headquarters from the Renaissance Center in Detroit to the GM Tech Center in Warren.  Warren Mayor Jim Fouts plans to officially offer tax incentives and other perks to General Motors on Thursday if it moves its headquarters from the Renaissance Center in Detroit to the GM Tech Center in Warren.  Click above for high-res gallery of the Pratt & Miller LMP1 Corvette that never was Autoblog friend and sports car racing junkie, Mike Laney, recently got the chance to tour Pratt & Miller (a.
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| Clock ticks on toward GM bankruptcy filing
May 31, 2009 at 2:35 pm
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|   DETROIT - General Motors Corp. was making final preparations Sunday for its bankruptcy protection announcement after bondholders accepted a sweetened deal, smoothing the way for the company's reorganization. A statement from a group of large, institutional bondholders Sunday said 54 percent of GM bondholders agreed to exchange their unsecured bonds for a 10 percent stake in a newly restructured company, plus warrants to purchase a greater share later. Their acceptance is seen as critical in moving the company through bankruptcy quickly.  NEW YORK ? A majority of General Motors bondholders, who are owed a total of $27.2 billion, have agreed to a deal to swap debt for an ownership stake in the reconstituted company, the Free Press learned this morning.  Originally, the plan had called for GM's bondholders, who are collectively owed $27 billion by the automaker, to receive a 10% stake in the new company. Less than 10% agreed to accept those terms...  While General Motors Corp.'s board of directors on Saturday held its second day of private deliberations about the fate of the 100-year-old automaker, the result of a critical bond proposal was still being tallied late into the day.
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| UPDATE: Bailey Blade prototype expected in October
May 31, 2009 at 2:31 pm
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|  Remember the Bailey Blade coupe being created by Neal Bailey in his Texas garage? Not only is Neal still at it, but he tells us he'll have at least one, possibly three, prototypes ready for testing in October. That's a big change in status from the last time we checked in on Neal in November. Back then he was having serious funding problems but was keeping the dream alive by soliciting small investments from enthusiasts. Bugatti Veyron 16.4 Grand Sport – Click above for a high-res image gallery The marque's faithful (read: the obscenely wealthy) have been waiting a long time for a convertible Bugatti. Click above for a high-res gallery of the Fisker Karma The last time we heard about the goings on at Kleiner Perkins Caufield & Byers it was as part of Fisker's 85 million VC funding announcement.  Bewerp Savage Revale Roadyacht GTS - Click above for a high-res image gallery The last time we checked, the name "road yacht" wasn't exactly complimentary, but bespoke...  Mindset electric car - Click above for a high-res image gallery The last time we heard from Spirit Avert, the team behind the mindset electric car, the group was said...
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| Toyota expands auxiliary electrification on new Lexus HS250h
May 31, 2009 at 2:29 pm
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|  2010 Lexus HS 250h – Click above for high-res image gallery
With the introduction of the new HS250h, Lexus brings forth the first dedicated luxury hybrid... Bugatti Veyron 16.4 Grand Sport – Click above for a high-res image gallery The marque's faithful (read: the obscenely wealthy) have been waiting a long time for a convertible Bugatti. BMW Roadsters - Click above for a high-res image gallery We generally think of BMW as the maker of some of the world's best sports sedans, but its put out some impressive roadsters over the years.  2009 BMW M3 Edition - Click above for high-res image gallery It's difficult to make the new BMW M3 even more appealing, but that's exactly what the boys from Bavaria are trying to do with the new M3 Edition models.  2010 Chevy Spark - Click above for a hi-res image gallery General Motors has issued a cryptic press release suggesting it plans to retool an existing plant here in the United States to build a new small car.
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| All-Junkyard World's Greatest Whiner Alarm Deters Crybabies
May 31, 2009 at 1:30 pm
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|   One of the biggest problems that we encounter while judging at 24 Hours Of LeMons races is whiners! We needed an audiovisual aid to warn a whiner when he or she had crossed the line! So, I knocked together this World's Greatest Whiner Alarm and off it went to the races. Naturally, I insisted on using only the finest junkyard components! Since I'm off to the Maker Faire today, let's have a how-to; here's how it went together: General Motors' place in downtown Detroit appears safe, at least for now. After a few days of frantic phone calls, letters and tax incentives being offered from two different cities... We are bearing witness to a catastrophic rupture of the car industry as we know it. Not only in terms of the economic machinery upon which it is run, but more so upon the fuel its creations will use. It's been a little more than a year since we first started tracking the development of the wind-powered car by Ecotricity founder, Dale Vince. His latest video installment... Click above for a hi-res gallery of the 2010 Subaru Legacy The 5th-generation Subaru Legacy has officially begun production, with the first car rolling off the Lafayette...
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| German government approves majority sale of Opel to Magna, Russians
May 31, 2009 at 12:12 pm
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|  With General Motors expected to file for chapter 11 bankruptcy protection in New York on Monday morning, negotiators in Germany scrambled to finalize a deal to save Opel from insolvency. Following a six-hour meeting in the German Chancellor's office in Berlin on Friday evening, a deal was finally announced by finance minister Peer Steinbrueck. Although an overall deal to transfer control of Opel from General Motors was reached, details are still being worked out and a final contract won't be signed for several more weeks.  As its stock tumbled to a stunning 75 cents a share, General Motors Corp. tied up several loose ends Friday as it prepares to file for bankruptcy reorganization Monday.  DETROIT - With an almost certain bankruptcy filing days away, General Motors is beginning its reinvention, planning to retool one factory to make its smallest vehicles ever in the U.  Car parts manufacturer Magna has agreed to buy GM Europe, which includes the Opel and Vauxhall brands, according to BBC News. The German government still needs to approve the deal, but may choose insolvency instead.  Whether or not General Motors files for bankruptcy protection, the carmaker has made clear that its future plans do not include two brands — Saturn and Hummer — that once seemed to hold immense promise for the company.
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| REPORT: Subaru to launch diesel cars in Japan in 2011
May 31, 2009 at 11:41 am
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|  The Japanese market has never been particularly fond of diesel cars, but Subaru is getting ready to try anyway. Subaru launched its first diesel boxer engine in Europe in 2008 and so far has sold over 30,000 examples. The diesel accounts for 54.1 percent of Legacy sales in Europe right now. With new emissions regulations set to take effect in Japan in 2010, Subaru is working on improving its diesel before offering it in the home market.  Click above to watch the Kia Soul's Euro NCAP crash tests There is no rating yet for the Kia Soul in the U.S., but in Europe the car did the business: the Soul scored five stars on the NCAP frontal offset...  We've known for several months now that Peugeot would be selling a re-badged version of the Mitsubishi iMiEV in Europe in a couple of years. What we haven't seen is the car itself.  Europe's crash testing authority, Euro NCAP, has published a series of new tests that includes the latest small and fuel efficient models offered there. The top scorers in the small car segment...  Hybrid and battery electric cars get most of the attention from drivers looking for more efficient transportation. Toyota has done a masterful job of marketing the benefits of hybrids and...
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| GM bondholders agree to debt swap
May 31, 2009 at 11:22 am
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| NEW YORK ? A majority of General Motors bondholders, who are owed a total of $27.2 billion, have agreed to a deal to swap debt for an ownership stake in the reconstituted company, the Free Press learned this morning. Tallying came after bondholders faced a 5 p.m. Saturday deadline to promise not to oppose the company's bankruptcy reorganization plan in exchange for receiving 10% of the new GM's shares, plus a warrant for an additional 15%.  WASHINGTON ? On the eve of a possible General Motors bankruptcy filing, a new poll indicates lagging support nationally for government efforts to save the nation's largest carmaker. Originally, the plan had called for GM's bondholders, who are collectively owed $27 billion by the automaker, to receive a 10% stake in the new company. Less than 10% agreed to accept those terms... While General Motors Corp.'s board of directors on Saturday held its second day of private deliberations about the fate of the 100-year-old automaker, the result of a critical bond proposal was still being tallied late into the day.
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| Ford launches new free app for 2010 vehicles with SYNC
May 31, 2009 at 10:46 am
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|  SYNC has given Ford a much-needed technology boost. The infotainment device provides motorists with features such as voice-controlled integration with MP3 players and automatic calls to emergency services in the event of an accident. For the 2010 model year, SYNC adds GPS hardware, giving owners access to traffic, directions, and information.  Impaired driving kills thousands of motorists each year, and ad campaigns and increased police enforcement have done little to stop it from happening. When we say "impaired driving," most think about alcohol.  2010 Jaguar XFR – Click above for high-res image gallery About 20 minutes after heading south towards the Mediterranean, traffic on our four-lane roadway stops abruptly.  The bubble of anonymity surrounding BYD outside of its home in China might be about to burst. Last week, we learned that Volkswagen had signed a memorandum of understanding...  What percentage of new vehicles in the U.S. will be hybrid in the year 2020? Take our poll after the jump! According to a recent study conducted by JPMorgan, hybrid sales are about to take off.
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| Poll indicates lagging public support for U.S. aid to GM
May 31, 2009 at 10:28 am
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| WASHINGTON ? On the eve of a possible General Motors bankruptcy filing, a new poll indicates lagging support nationally for government efforts to save the nation's largest carmaker. Rasmussen Reports' Scott Rasmussen said today only 21% of likely voters polled support government aid to GM, and 67% oppose any plan that would provide the troubled automaker with $50 billion and give the federal government a 70% ownership stake in the company. We are bearing witness to a catastrophic rupture of the car industry as we know it. Not only in terms of the economic machinery upon which it is run, but more so upon the fuel its creations will use. To the roll call of auto industry titans that have gone or are going bankrupt -- Visteon, Chrysler, GM, Saab, Karmann, ASC, Source Interlink -- we can now add Tier 1 supplier Metaldyne, which filed for bankruptcy for its American operations. NEW YORK ? A majority of General Motors bondholders, who are owed a total of $27.2 billion, have agreed to a deal to swap debt for an ownership stake in the reconstituted company, the Free Press learned this morning.
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| Bondholders Agree to New Terms, Setting Stage For Quick Orderly GM Bankruptcy
May 31, 2009 at 8:59 am
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| Originally, the plan had called for GM's bondholders, who are collectively owed $27 billion by the automaker, to receive a 10% stake in the new company. Less than 10% agreed to accept those terms, increasing the likelihood of a protracted bankruptcy process. The new deal offered the bondholders warrants to purchase an additional 15% stake, making it possible for them to own 25% of the new company. The UAW through its retiree health fund has been offered 17.5% with warrants to purchase an additional 2.5% stake. The US Treasury would own the rest, up to 70% of the new company. NEW YORK ? A majority of General Motors bondholders, who are owed a total of $27.2 billion, have agreed to a deal to swap debt for an ownership stake in the reconstituted company, the Free Press learned this morning.  As General Motors' board of directors today held its second day of private deliberations about the fate of the 100-year-old automaker, the result of a critical bond proposal was still being tallied late into the day.  On top of the 1,124 General Motors dealers that will be closed next year, the ailing automaker is reportedly going to announce another round of dealer closings on Monday when its bankruptcy declaration is expected.  Yesterday, General Motors and its bondholders had officially called it quits, and GM was headed for a certain and certain-to-be-rocky bankruptcy. Today, according to a company filing...
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| Starting Early: Cub Scouts build derby cars from recycled materials
May 31, 2009 at 8:54 am
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|  It's never too early to begin teaching kids the merits of an eco-friendly lifestyle. This point was driven home by members of Cub Scouts packs 294 and 261, who were recently tasked with the responsibility of creating full-size derby carts completely from recycled materials. Says Patrick Martin, leader of Cub Scout Pack 261: General Motors' place in downtown Detroit appears safe, at least for now. After a few days of frantic phone calls, letters and tax incentives being offered from two different cities... We are bearing witness to a catastrophic rupture of the car industry as we know it. Not only in terms of the economic machinery upon which it is run, but more so upon the fuel its creations will use. It's been a little more than a year since we first started tracking the development of the wind-powered car by Ecotricity founder, Dale Vince. His latest video installment... Click above for a hi-res gallery of the 2010 Subaru Legacy The 5th-generation Subaru Legacy has officially begun production, with the first car rolling off the Lafayette...
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| NYT: GM plan clears bondholder hurdle
May 31, 2009 at 3:05 am
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| DETROIT - General Motors' bondholders finished voting Saturday on the company's plan to exchange their debt for an ownership stake as high as 25 percent in G.M., the final obstacle to an orderly bankruptcy for the ailing carmaker. Bondholders with slightly more than 50 percent of G.M.'s $27.2 billion in bond debt agreed to support the plan by the deadline of 5 p.m., according to people briefed on the matter. Among the backers was a committee of large investors holding about 20 percent of G.M.'s outstanding bonds. DETROIT - General Motors Corp. was making final preparations Sunday for its bankruptcy protection announcement after bondholders accepted a sweetened deal, smoothing the way for the company's reorganization. NEW YORK ? A majority of General Motors bondholders, who are owed a total of $27.2 billion, have agreed to a deal to swap debt for an ownership stake in the reconstituted company, the Free Press learned this morning. WASHINGTON ? On the eve of a possible General Motors bankruptcy filing, a new poll indicates lagging support nationally for government efforts to save the nation's largest carmaker. Originally, the plan had called for GM's bondholders, who are collectively owed $27 billion by the automaker, to receive a 10% stake in the new company. Less than 10% agreed to accept those terms...
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| Bond deal results critical for GM
May 31, 2009 at 2:45 am
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| While General Motors Corp.'s board of directors on Saturday held its second day of private deliberations about the fate of the 100-year-old automaker, the result of a critical bond proposal was still being tallied late into the day. The developments were shared by people familiar with the efforts who did not want to be identified. DETROIT - General Motors Corp. was making final preparations Sunday for its bankruptcy protection announcement after bondholders accepted a sweetened deal, smoothing the way for the company's reorganization. NEW YORK ? A majority of General Motors bondholders, who are owed a total of $27.2 billion, have agreed to a deal to swap debt for an ownership stake in the reconstituted company, the Free Press learned this morning. Originally, the plan had called for GM's bondholders, who are collectively owed $27 billion by the automaker, to receive a 10% stake in the new company. Less than 10% agreed to accept those terms... As General Motors' board of directors today held its second day of private deliberations about the fate of the 100-year-old automaker, the result of a critical bond proposal was still being tallied late into the day.
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| GM boom years full of success
May 31, 2009 at 2:28 am
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|  Before there was a looming bankruptcy, there were monster tail fins, tons of chrome, the 'Vette, Caddy and the Riviera. There was star designer Harley Earl, trendsetting Chief Executive Officer Alfred Sloan, mom-and-apple-pie ads and good-as-gold shares of stock. There were stunning displays of future highways at the 1939 World's Fair and the historic recognition of the UAW after the 1937 Flint sit-down strike. We are bearing witness to a catastrophic rupture of the car industry as we know it. Not only in terms of the economic machinery upon which it is run, but more so upon the fuel its creations will use. To the roll call of auto industry titans that have gone or are going bankrupt -- Visteon, Chrysler, GM, Saab, Karmann, ASC, Source Interlink -- we can now add Tier 1 supplier Metaldyne, which filed for bankruptcy for its American operations. NEW YORK ? A majority of General Motors bondholders, who are owed a total of $27.2 billion, have agreed to a deal to swap debt for an ownership stake in the reconstituted company, the Free Press learned this morning.
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| Detroit 3 headlines: Market share rose for Ford
May 30, 2009 at 10:44 pm
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| Ford Motor Co. gained market share in May, said Ford sales analyst George Pipas. Ford is benefitting not only from customers who are fleeing Chrysler and General Motors because of their financial issues, but also because of Ford's new and recently introduced cars and trucks, Pipas said. Ford's total sales will decline compared with last May, but the company is expected to outperform most of the industry. What percentage of new vehicles in the U.S. will be hybrid in the year 2020? Take our poll after the jump! According to a recent study conducted by JPMorgan, hybrid sales are about to take off.  According to Automotive News, Visteon Corp. has filed for Chapter 11 bankruptcy protection. The Michigan-based tier-1 supplier was spun off from the Ford Motor Company back in 2000, and it has struggled ever since.  According to a recent study conducted by JPMorgan, hybrid sales are about to take off. Last year, there were some 480,000 total hybrid vehicles sold around the world, which represents less than one percent of global sales.
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| More parts firms to file for Chapter 11
May 30, 2009 at 10:43 pm
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| More automotive parts suppliers will file for bankruptcy in the weeks ahead, analysts said, a consequence of a cash drought brought on by falling production that could intensify after General Motors Corp.'s expected filing for Chapter 11 this week. Across the country, suppliers whose revenues have plunged below their costs are struggling to find the money they need to keep operating. While General Motors Corp.'s board of directors on Saturday held its second day of private deliberations about the fate of the 100-year-old automaker, the result of a critical bond proposal was still being tallied late into the day. As General Motors' board of directors today held its second day of private deliberations about the fate of the 100-year-old automaker, the result of a critical bond proposal was still being tallied late into the day. As its stock tumbled to a stunning 75 cents a share, General Motors Corp. tied up several loose ends Friday as it prepares to file for bankruptcy reorganization Monday.
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| MARK PHELAN : A great new car crop
May 30, 2009 at 10:28 pm
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| This is shaping up to be a great year for cars. The irony is almost unbearable. Automakers around the world are in crisis mode, hanging on by their fingernails and by the grace of government assistance through the worst year the industry has suffered since the Great Depression. Still, extraordinary new cars are hitting the road at an amazing pace.  In the first announcement, the company stated it intends to bring the production of a new small car to a currently shuttered US assembly plant. GM would not say what... Click above for a high res gallery of the 2011 Chevy Volt With bankruptcy for GM pretty much certain for next week, the Wall Street Journal has taken a look at whether... 2010 Chevy Spark - Click above for a hi-res image gallery General Motors has issued a cryptic press release suggesting it plans to retool an existing plant here in the United States to build a new small car.  Click image above for a high-res gallery of the 2010 Chevy Spark General Motors announced this morning that it will build a future small car at existing U.S. production facilities beginning at some unspecified date.
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