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Throughout The Car Industry
Scion’s VP announced recently that the new redesign of Scion tC coupe could potentially “double sales and breathe new life into the struggling youth-focused brand.” Next year Scion is hoping to sell between 35,000 to 45,000 units of what the Toyota owned company is calling “more-powerful coupes in 2011.”
Scion posted sales of 18,000 tC units last year, down 56% from the previous year, after a peak of 79,125 units sold in 2006. According to The Bloomberg news, the most recent forecast from Hollis came in below that of 40,000–50,000 reported in March.
The tC model has accounted for more than 41% of Scion’s overall sales for the past 6 years since it was first introduced; Scion is depending heavily on a strong future market for the 2011 tC model.
So far this year, sales of the coupe have followed suit with many other brands in that numbers have fallen—down 36% through the end of August for a total of only 8,848 vehicles sold in 2010, so far. But according to Hollis “the slide is typical for a sporty subcompact car late in its product life cycle.” He cited unemployment in the 26-year-old age group that is double the national average as one reason for decreased sales, as the Scion has sucessfully appealed to that younger market. Hollis stated: “I think we're kind of timed right for this, where hopefully the unemployment rate will turn here at the beginning of the year.”
Posted In: Car News, Reports
Tags: Scion tC, Toyota Motor Corporation, Scion tC Coupe, Jack Hollis, brakeassist, Brake Assist, Vehicle Stability Control, vehiclestabilitycontrol, ESPN Monday Night Football
A short eight months ago, Saab was on the brink of extinction. GM didn't want it. The greater auto market wasn't exactly rolling in dough and financing deals to take it off of GM's hands. And proposed bids were falling through like finely shaved sawdust in a large collander. In fact, Saab straits were so dire that GM even began to wind the company down.
Then an unlikely hero emerged and swept Saab from the arms of the reaper. Spyker, a Dutch company known for aero-inspired supercars, succeeded in its bid to take Saab off of GM's hands. Usually, it's an established, mainstream brand name buying up an exotic supercar brand, but in this case it was the reverse.
Now that production on Saab 9-5 models is underway, and life is back to normal in Trollhattan, Saab is ready to look toward the future. The company announced an electric vehicle that it's calling "‘the first practical family estate with all-electric propulsion."
Posted In: Auto Shows, Car News, Hybrid / Green
Tags: Saab, green, electric vehicles, EV, 9-3, ePower
In a move that some are using to infer that the North American and global auto industries are officially on the rebound, Porsche will make a return to the North American International Auto Show in Detroit this January. The Stuttgart-based automaker has missed the past three shows, opting to focus on less conventional ways of reaching customers here in the States and zeroing in on larger markets.
It's too early to tell what Porsche will be displaying at the show, but those that will be there can hope that Detroit marks the North American auto show debut of the 918 Spyder Hybrid. Porsche confirmed the hybrid for production earlier this summer, so it would make sense to show it off. The 918 made its world debut at the 2010 Geneva Motor Show in March.
Just this week, Porsche also unveiled the 2011 911 Carrera GTS, a 408-hp Carrera distinguished by exhaust modifications, a widened stance and new body work. That model goes on sale early next year for $103,100 for the coupe and $112,900 for the Cabriolet.
Posted In: Auto Shows, Car News, Reports, Exotics
Tags: Porsche, North American International Auto Show, auto shows, 2011 Detroit Auto Show, business, auto market
The newest development in the Toyota Unintended Acceleration Saga is that Toyota Motor Corporation has settled the original lawsuit brought against the Japanese automaker regarding an accident that resulted from alleged sudden acceleration.
The suit pertains to the death of four people killed in a San Diego accident, which was the impetus for Toyota to initiate the recall of millions of vehicles pertaining to sudden acceleration.
Toyota was quoted in an email statement: “Through mutual respect and cooperation we were able to resolve this matter without the need for litigation.” Toyota refused to disclose details regarding the terms of the settlement.
In February, Akio Toyoda, president of Toyota Motor Co., apologized in a statement to Congress. Toyoda also apologized to Mark Saylor’s family, the California Highway Patrol officer who was killed along with his family-wife, daughter, and brother-in-law. The accident resulted from a Lexus that reportedly sped out of control. When federal investigators examined the Lexus they discovered that misplaced floor mats were the most likely cause of the accident.
Posted In: Car News, Recalls
Tags: Toyota Motor Corporation, Unintended Acceleration, unintendedacceleration, sticky gas pedals, Sticky Gas Pedals, Lexus ES 350, Akio Toyoda, National Highway Traffic Safety Administration
In automotive news, the Obama Administration has agreed to guarantee loans for small auto dealerships of up to $5 million with a bill that passed the Senate last Thursday. The federally guaranteed loan amount was only $2 million in the past and the bill raised the limit to $5 million.
The stipulation resulted from a new jobs bill for small businesses. It was intended to increase lending. Federal tax cuts of $12 billion were also offered to small businesses in hopes that the result will be an increase in hiring for many companies that have been in dire financial distress. The legislation plans to assist small businesses in being approved for loans by increasing the maximum federal guaranteed loan amount that small dealerships will qualify for, which will in turn cause credit requirements to be lowered by the Small Business Association (SBA). This new bill will improve last year’s “floorplan” financing program offered by SBA, which was not very effective in gaining participation by lending institutions.
Posted In: Car News, Miscellaneous, Reports
Tags: U.S. Senate, SBA, Small Business Association, Democratic, Mary Landrieu, National Automobile Dealers Association, George LeMieux, George Voinovich
Last Thursday, Toyota took a lead in demonstrating how green vehicles and renewable energy can work together to cut environmental impact. The company launched a tiny 'smart' village in Rokkasho, Japan to test and demonstrate how consumers can use renewable energy and green vehicles toward cutting their carbon footprint.
One of the biggest knocks against hybrids and electric vehicles is that electricity still runs largely on fossil fuels. While the end user feels better about pumping electricity and not gas into his car, that electricity is still polluting the environment. In other words, EVs and hybrids are simply masking the problem not solving it. That argument seems to get a whole lot of use by status-quo lovers that want to look more forward-thinking and informed than they really are. As if the notion never occurred to anyone else.
Posted In: Car News, Hybrid / Green, Miscellaneous, Reports
Tags: Toyota, EVs, hybrids, green, green energy, renewable energy, technology, smart grid, Rokkasho, Prius
In the time Scion has taken to redesign the tC, a lot has changed in the world. The country has had the biggest peak in real estate, followed by the biggest crash in the economy since the Great Depression. The city of New Orleans has been destroyed and rebuilt. We had our first African-American president. Being on Myspace went from making you cool to making you a social outcast. Michael Vick, Roger Clemens, and Tiger Woods all went from being sports icons to pariahs, and Brett Favre retired at least 50 or 60 times.
Needless to say Scion, and parent company Toyota, have taken their time (And about seven years to be exact) recreating their very popular sport coupe. So what do we get for all this waiting? Some unbelievable Ferrari-fighter? No, sorry. A hugely over-hyped disappointment? Nope, not that either. What we get with the newly redesigned 2011 Scion tC is simply what should have been expected all along: A better car than the one we had. And better in just about every way possible. Almost all of the car’s major aspects have been improved upon in some way, shape, or form.
Back in early July, a rather sickly looking yellowish-brown mess of a Dodge Viper rolled off production lines. That was the last Dodge Viper that we'll see from this generation, and it left a rather bitter taste in the mouth. The official idea was to make it an earth-toned Viper--for what reason we don't know--but the thing came off looking like some large animal had taken a squatter directly over it. It was that bad.
Luckily, that Viper will be long forgotten when the next-generation model makes its debut. Reports of the new Viper have been heating up, and according to Autocar, Dodge has already shown the new supercar to a group of dealers at Chrysler's dealer conference in Orlando earlier this week.
Posted In: Reports, Rumors, Exotics
Tags: Dodge, Viper, sports cars, rumors, debuts, new cars, supercars, Chrysler, Fiat
According to a recent Wall Street Journal article, China is creating a plan that may force foreign automakers to disclose their secrets regarding new electric vehicle technology. How? China is attempting to be the world’s leader in the growing light vehicle market. China's Ministry of Industry is writing a 10-year plan designed to enable the country to be a leader in hybrid and electric-car technology.
China’s proposition demands that foreign auto manufacturers become involved in affiliations with Chinese companies that hold majority stakes. China is currently the world’s largest automotive market, the most profitable market for many automakers across the globe. According to a recent automotive news report, “under China industrial policy, foreign automakers typically have to establish joint ventures with Chinese automakers to gain access to the market.”
While it’s true that China has the biggest automotive market, as far as imported sales are concerned, the country has not produced enough of their own vehicles to compete with companies like Toyota Motor Corporation, Ford Motor Company, or General Motors. According to the Wall Street Journal, “Chinese government officials see the electric and hybrid initiative as an opportunity to create such an automaker.”
Posted In: Car News
Tags: Chinese Automaker, Wall Street Journal, Toyota, General Motors, Ford, U.S. Chamber of Commerce, uschamberofcommerce, Wen Jiabao
Xcel Energy is the first company to receive the electric-powered Ford Transit Connect Van for commercial use. Azure Dynamics Corp., a hybrid electric power train innovator for commercial trucks, chose Xcel Energy as a lead customer program to receive 13 electric Ford Transit Connect vans.
The first electric van is scheduled to be delivered to Xcel Energy this year, with the remaining 12 EVs to be complete by 2011. The Ford Transit Connect Electric vehicle is a joint project between Ford Motor Company and Azure Dynamics Corp. with a common goal to create electric vehicles for the commercial sector.
Xcel, a major U.S. electricity and gas company, will not only add 13 electric vans to its fleet, the utility company also plans to put up $20,000 in grants to support the purchase of 11 additional Ford Transit Connect Electric vans for its project partners. These partners will agree to invest the remaining cost to take delivery of each van.
Posted In: Car News
Tags: Ford Transit Connect, fordtransitconnect, Excel Energy, hybrid electric, Hybrid Electric, Dick Kelly, Ford Motor Company, Azure Dynamics Corporation
In an effort to revamp its image and sales, Ford has been expanding EcoBoost options across its line over the past year, most recently with the addition of the 2.0-liter V4 Ecoboost in the all-new 2011 Explorer. According to a Detroit News report, this will be a part of Ford's greater strategy to offer EcoBoost options in all of its vehicles over the coming years.
Posted In: Car News, Hybrid / Green, Technology
Tags: Ford, EcoBoost, cars, business, green, efficiency, engine options, news