After successfully getting General Motors Company and Chrysler Group LLC out of bankruptcy protection, the Obama administration said that it is now ending the government-financed warranty program for the two automakers. Ron Bloom, the head of the auto task force, told a House Judiciary subcommittee about the decision in testimony yesterday, reports Automotive News. “With the [...]
According FoMoCo, the U.S. auto market has bottomed out but recovery could still be months away. Ford Americas President Mark Fields told reporters yesterday that leading economic indicators suggest that the economy will recover in the second half of the year. “Things have stopped getting worse,” said Fields. “The question is, at what point does it [...]
Fiat, which reported a first quarter net loss of euro 578 million ($819 million USD), announced today that it has narrowed its losses in the second quarter reporting a net loss of euro 168 million ($238 million USD). Fiat said the losses continued due to a significant decline in sales of the trucks and commercial vehicle [...]
Tuner Reiter is known for turning road-going Lamborghini into motorsport fun for the track. Their latest creation is based on the Lamborghini Gallardo LP560-4. Known as the Reiter LP560 GT3, the car is equipped with a new and more powerful 5.2L V10 making 570-hp with a maximum torque of 398 lb-ft. With the new LP560 [...]
Before the end of last year, it was reported that Honda killed the much-anticipated successor to the Acura / Honda NSX – apparently those reports were interpreted the wrong way. According to 7Tune, the NSX project is moving ahead with some changes on the drawing board. Sources say that the program has been steadily progressing [...]
Bentley has released yet another teaser video of its upcoming ‘Grand Bentley’ scheduled to debut next month at the 2009 Pebble Beach Concours D” Elegance in Monterey, California. “The all-new grand Bentley captures the 1920s “˜grand touring” spirit of the Bentley Boys, delivering the effortless driving, exclusivity and adventure desired by the real motoring enthusiast,” Bentley [...]
UK publication AutoCar is reporting that Fiat is working on a Abarth version of the new 500C convertible. Sources say that unlike most convertibles that suffer from a loss stiffness in the bodyshell, the Abarth 500C will have the same roll-back canvas roof, which retains the roof rails and pillars. As a result, the car will [...]
The day is almost over and that means it’s finally time for our Miscellaneous Thoughts post for the day. Sandra Bullock loves herself some Top Gear: Hollywood actress Sandra Bullock loves Top Gear and that may be the fault of her West Coast Choppers CEO husband Jesse James. ”I love Top Gear. I live for Top Gear. [...]
Ron Bloom, leader of Obama’s auto task force, warned the U.S. Congress today that the House-approved measure to restore some 3,000 dealerships scheduled to be closed by General Motors and Chrysler would threaten the recovery of the two automakers that recently exited bankruptcy. Bloom told a House Judiciary subcommittee that the plan would set a ”dangerous [...]
According to a report by UK’s Guardian newspaper, Nissan is working on a wireless charging technology that will allow the process of charging electric-cars to become faster and easier without the hassle of plugging in. The system is based on the concept of inductive charging, the same electromagnetic field technology used to charge an electric [...]
