December 2008
Fisker To Unveil New Plug-In Concept at Detroit Auto Show
By John O'Dell December 31, 2008An early Happy New Year from Fisker Automotive. The fledgling Southern California plug-in-hybrid manufacturer says it will be introducing a new concept car at the North American International Auto Show in Detroit next week, along with the production version of the Fisker Karma. Fisker Automotive isn't providing much more info - just the design detail shot shown here (left) and word that the new "Karma S," (it stands for "Sunset"), will use the same plug-in series hybrid powertrain as the original Karma, which debuted a year ago at the 2008 Detroit show. Hmmmm. Wonder if the Sunset might be more
Jetting to D.C. To Seek Bailout $$ Lands Auto CEOs Atop Year's Dumb Moves Lists
By John O'Dell December 30, 2008Automotive News ranks the maiden journey of the Detroit Big Three CEOs to Washington to beg for bailout funds as second on its list of the 10 top automotive blunders of the year. But Fortune magazine, even though surveying things with a bit more detachment, puts that ill-fated trip at No. 1 on its list of the year's top blunders in all business segments. We tend to agree with Fortune, which calls its list the "dumbest moments" review. Having to go hat-in-hand to D.C. to ask Congress for help was bad enough, but to fly there in private corporate more
Production of Porsche Cayenne Diesel Begins - Now Where's That Hybrid?
By John O'Dell December 30, 2008Porsche, which complained mightily earlier this year about European CO2 rules it said would make it impossible for the company to continue turning out vehicles imbued with Porsche DNA, is trying nonetheless. The carmaker on Monday began production - for the European market only, it says - of a diesel version of its Cayenne SUV (right). Porsche's first diesel will be outfitted with the same 3.0-liter, 240 horsepower V6 TDI engine that Audi and Volkswagen are using for their upcoming diesel SUVs, the VW Touareg (the Cayenne's cousin) and Audi Q7. Porsche has said that it expects its diesel more
Federal Help Allows GM To Offer 0% and Low-Interest Car Loans to Consumers
By Michelle Krebs December 30, 2008By Michelle Krebs DETROIT -- In stark contrast to banks who still largely refused to give consumers loans despite receiving billions from the government to do so, General Motors wasted no time in pumping federal cash into car loans for consumers. GM announced Tuesday morning it was offering no-interest financing for up to 60 months and low-interest loans on select 2008 and 2009 model-year cars and trucks through January 5, 2009. The loans will be provided through GMAC and be more widely available to consumers as GMAC has lowered its credit criteria. The zero-interest and low-interest loans were made possible more
Billionaire Kerkorian Sells Last of Ford Stock
By Michelle Krebs December 30, 2008By Michelle Krebs Perhaps now, at age 91, Las Vegas billionaire Kirk Kerkorian has finally given up on the auto industry that has not been particularly good to him. On Tuesday -- just in time to take year-end losses -- Kerkorian sold the last of his investment in Ford. The move came just six months after Kerkorian's Tracinda Corp. bought a 6.49 stake in Ford and carries with it deep losses. Kerkorian's purchase was seen as a vote of confidence in Ford's turnaround strategy and its management led by former Boeing exec Alan Mulally. more
Buffett Invests in RV Business
By Michelle Krebs December 30, 2008By Michelle Krebs As investor Kirk Kerkorian was selling off the last of his shares in the U.S. auto industry, another elder American investor was easing into the business. Warren Buffett's Berkshire Hathaway, Inc. reported to government regulators Monday that it had purchased $40 million in recreational vehicle maker, Coachmen Industries Inc., which assembles Viking travel trailers in Middlebury, Ind. more
Challenge Bibendum Bows to Economic Crunch, Postponed 'til 2010
By John O'Dell December 29, 2008Sad news. Michelin, citing the "depth of the current economic crisis," said today it is cancelling the planned 2009 Challenge Bibendum -- a premier global showcase and test bed for alternative fuels and power train technologies. ---------- The 2007 Challenge Bibendum was held in Shanghai. ---------- The biennial green car event, which was to have taken place in Rio de Janeiro in april, will be held over until 2010, the French tire giant said. In a brief statement, the company said the decision "takes into account the increasing financial constraints of several of Challenge Bibendum's traditional partners. Many will more
Rumor Mill: BMW EVs, Honda Insight Details
By John O'Dell December 29, 2008The folks at the BMW Blog say they've seen Bimmer's '09 product plan and it contains a pair of new BMW electric-vehicle concepts. BMW has been talking EV most of the year, and the blog report says the first of the new concepts, to be introduced in March at the Geneva Auto Show, is an eDrive concept that uses the Mini E's battery-electric drive system installed in either a BMW 1- or 3-Series. The second, if the rumor mill is grinding true, is a battery-electric version of the Z roadster, to be dubbed the Z Vision Concept and due more
Is Toyota Warming Up For Prius Battery Replacement Boost As 1st Hybrids Age?
By John O'Dell December 29, 2008Toyota has boasted, justifiably, that very few of its Prius hybrid batteries have needed replacement since the car was introduced at the end of 2000. But as the number of older Priuses (right) with steadily mounting odometer tallies grows, the automaker apparently is getting ready for the numbers to start changing. In an entry on the company blog today, Toyota spokesman Jon Thompson posted a piece entitled "Prius Battery Change is No Big Deal." After mentioning that a number of Prius taxis have racked up more than 300,000 miles on their original battery packs, Thompson notes that the batteries are warranted more
Chrysler's 'Thank You' Ads: Not the Best Idea
By Michelle Krebs December 31, 2008By Bill Visnic Readers of the nation's major newspapers -- those still reading paper, anyway -- by now have seen splashy full-page ads from Chrysler LLC thanking "America" for its bailout-investment in the company. No harm in being contrite, but just like winging into Washington, D.C., on a trio of exec jets to demonstrate their dire financial straits, the "Thank You, America" ad isn't going to go down as one of Detroit, Inc.'s more wizened PR stunts. more