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The Latest News And Reviews
Throughout The Car Industry



Categories: Car News

Ford Stocks Are Up $16 per Share For First Time In 6 Years

On: Tue, Nov 9, 2010 at 10:53AM | By: Sherry Christiansen


Ford Stocks Are Up $16 per Share For First Time In 6 Years test 1-1

Ford Motor Co. announced that the company’s shares rose above $16 in the New York Stock Exchange trading for the first time in 6 years. It was a 2.2% rise to $16.21 in New York Stock Exchange composite trading. Ford’s stock has not been over $16 per share since June 23, 2004.

The company's rising stock price is a result of its strong October sales and positive investor reaction to the Federal Reserve's bond-buying program, which sent stocks broadly up at the end of the week.


Lamborghini Bids The Murcielago Adieu

On: Mon, Nov 8, 2010 at 5:36PM | By: Chris Weiss


Lamborghini Bids The Murcielago Adieu test 1-1

The Lamborghini Murcielago has had a strong nine years at the top of the Lamborghini food chain, top of most car food chains to be truthful. The successor to the Countach and Diablo is treading on becoming the last-generation Lambo flagship with the launch of the Jota getting palpably close. Such an icon doesn't fade quietly into the night, though; it goes out with a celebration of its life. Last week, Lamborghini had just that celebration, holding an event to commemorate the Murcielago and bid it farewell.


Tesla To Take An Apple Approach To Selling Cars

On: Mon, Nov 8, 2010 at 5:32PM | By: Chris Weiss


Tesla To Take An Apple Approach To Selling Cars test 1-1

Tesla has been shaking up the auto market ever since its founding. A small firm with big ambitions that has gone where the inflexible, big-name automakers can't quite effectively navigate, Tesla has made plenty of headlines for its all-out performance electric Roadster.

Tesla's innovation won't stop at the production lines, as recent news reports detail. The company plans to create a unique retail experience that breaks the mold of the traditional auto dealership. Instead, Tesla will channel  its electric roots and model its dealerships after the consumer electronics industry.


BMW Invests $751 Million In Factory To Build Electric Vehicles

On: Mon, Nov 8, 2010 at 5:27PM | By: Sherry Christiansen


BMW Invests $751 Million In Factory To Build Electric Vehicles test 1-1

BMW's Megacity Vehicle will be the company's first battery-powered vehicle and BMW plans to market the car under a sub-brand. The German automaker recently reported its plans to invest $751 million in a new carbon fiber production plant in the U.S. that will build its Megacity electric-powered urban car. The new BMW factory is projected to create over 1,000 jobs, according to the company. The investment will also fund a $400 million expansion project for BMW’s Leipzig, Germany automotive plant. BMW plans to create 800 jobs at the eastern German site as it adds production of the Megacity Vehicle. The Leipzig factory currently assembles BMW's 1-series entry-premium car and X1 small crossover, and produces as many as 730 vehicles daily.


 

Chrysler Jumps On the Profit Bandwagon, Up 5.2%

On: Mon, Nov 8, 2010 at 1:05PM | By: John Welch


Significantly Revised 2011 Dodge Journey test 2

It seems good fortune is shing on all three of the established US automakers with Chrysler announcing a $239 million operating profit for the third quarter. On the heels of GM and Ford announcements espousing essentially the same good news, Chrysler  is bringing in more revenue through an improved product line up as well as higher average transaction prices. Chrysler is currently in the process of releasing 16 new or drastically improved models, which should translate to even more success.

Posting a net loss of $84 million, the Pentastar brand is seeing a turnaround in operating costs as well. Down from the $172 million net loss of a quarter ago, this represents Chrysler's smallest quarterly loss since its government-subsidised bankruptcy 17 months ago. This all translates into positive cash flow for Chrysler; the company expects to turn $500 million in positive cash this year. The original company forecast predicted a billion dollar loss for 2010. Not bad!


GM Reveals Details Regarding IPO

On: Mon, Nov 8, 2010 at 10:40AM | By: Sherry Christiansen


GM Reveals Details Regarding IPO test 1-1

General Motors has finally announced its long awaited public offering of stock which the company is hoping will yield $13 billion. GM will issue 356 million shares of common stock priced between $26 and $29 per share. An additional 50 million shares of B-series preferred stock will be sold at $50 per share. General Motors Co. had a disagreement with its government owners regarding the price of the automaker’s IPO before both entities settled on a range between $26 and $29 a share, according to undisclosed sources who stated they were familiar with the matter.

The U.S. Treasury was seeking a split-adjusted price of $30 per share, which was referred to as the “Obama number” by officials in the administration. That was the price the government would be able to recover all the money spent on GM’s bailout under President George W Bush and President Barack Obama. The Canadian government (also shareholders) has been pushing for stock prices in the $30s to maximize return as well.


The NASCAR Camry Coupe V8 at SEMA

On: Mon, Nov 8, 2010 at 10:36AM | By: Sherry Christiansen


The NASCAR Camry Coupe V8 at SEMA  test 1-1

The owner of RK Collection and co-owner of Michael Waltrip Racing, Rob Kauffman, has teamed up with Toyota Racing development to produce a street-legal, NASCAR-inspired high-performance Camry.

Among many new concepts unvieled at SEMA last week, one of the most interesting cars is the Toyota NASCAR Camry V8 Coupe. The SEMA Show is the premier automotive specialty products trade event in the world. The SEMA show is not open to the public, It draws the industry’s brightest minds and hottest products to the Las Vegas Convention Center. As part of the AAIW, the SEMA Show attracts more than 100,000 industry leaders from more than 100 countries. The Camry at this year’s SEMA was not your ordinary sedan by any means; the special two-door Toyota Camry NASCAR Edition was produced by RKC in collaboration with Toyota Racing Development (TRD).


Mazda Working on Rotary-Powered RX-9

On: Fri, Nov 5, 2010 at 4:19PM | By: Chris Weiss


Mazda Working on Rotary-Powered RX-9 test 1-1

News of the loss of the RX-8 earlier this year had to be a hard-hitter for rotary fans. I mean, what else do you have really? That news hit hard when it was reported that Mazda is planning on phasing the RX-8 out after its rotary engine failed to meet environmental standards. 2011 is expected to be the last model year for the RX-8.

That news, however, was from a few months ago. Today, we have better news. The latest word is that Mazda is well into the development process behind a new rotary engine. This one will be both more eco-friendly and more powerful. And it will be dropped in a new sports coupe tentatively called the RX-9.


Alleged Specs For Lamborghini Jota Leak

On: Fri, Nov 5, 2010 at 3:51PM | By: Chris Weiss


Alleged Specs For Lamborghini Jota Leak  test 1-1

The Paris Motor Show came and went. It left quite an impression. But if there was one little thing missing it was the Lamborghini Jota. Originally thought to be Lamborghini's big trick for the Paris show, the Jota didn't make it on stage with the Sesto Elemento. Yes, the Sesto was impressive. It was ultralight and super hot in a minimalistic, function-over-form way. But it wasn't real. It was but a proof of concept. And having heard a rumor about both the Jota and Sesto debuting together at Paris, there was a little disappointment about not seeing the Jota.

Well, according to new rumors out of a secret prototype showing in Singapore it will only be a couple months. The car will debut in Geneva, and to keep us hungry, a few key specs have leaked.


Honda Committed To EV Technology

On: Fri, Nov 5, 2010 at 10:54AM | By: Chris Weiss


2011 Honda Jazz (Fit) Hybrid test 2

Over the past year, Honda has been doing a slow U-turn in terms of developing and committing to electric vehicles. Plug-ins were considered a waste of resources by previous CEO Takeo Fukui, but CEO Takanobu Ito, who took over last summer, seems to view them a little less skeptically. Last week, Honda announced a new electric vehicle concept that will debut at the LA Auto Show, and Ito said of the future of EVs and Honda: "...we have been researching [batteries] all along. Since I became president, that was accelerated quite a bit." Ito recently provided some further insight into Honda's EV plans in a discussion with Reuters.


Panasonic Partners with Tesla For Battery Development Project

On: Fri, Nov 5, 2010 at 10:26AM | By: Sherry Christiansen


Panasonic Partners with Tesla For Battery Development Project test 1-1

Tesla Motors is preparing to partner with the Japanese technology giant Panasonic. Automotive News stated yesterday that Panasonic, which is already working with Tesla to provide lithium-ion cells for the Model S, is planning to invest in the California automaker. Citing the Nikkei business daily, Reuters reported that Panasonic "aims to work with Tesla to develop battery systems for next-generation EVs."