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REPORT: BMW, Mini to let Mercedes-Benz inspect, prep its vehicles at port
The Mercedes-Benz Baltimore vehicle process center has secured a five-year contract to inspect, process, and repair pre-delivery BMW and Mini vehicles arriving in the United States. It's a deal that makes economic sense for both companies, say that automakers. BMW models currently arrive in Charleston, South Carolina, and are shipped to nearby Spartanburg (home of BMWs assembly plant) for inspection and pre-delivery work. That plant is "no longer appropriate" once the X3 starts production next year, says Jim O'Donnell, president of BMW ... Read more →
Fed may reconsider $500k salary cap for new GM CEO, limit pay for 2nd tier execs Jonathon Ramsey
It's official: pay czar Kenneth Feinberg's executive compensation rules for companies yet to return their bailout funds means a cap of $500K for second-tier executives. Importantly, that number ...
REPORT: Fed predicts it will lose $30B on auto industry bailout Chris Shunk
2009 isn't quite over yet, but we're pretty sure most automakers would rather forget that it ever happened. And while General Motors and Chrysler suffered the pain and humiliation of bankruptcy ...
REPORT: Automotive advertising plummets 30.8% Michael Harley
Automobile manufacturers and dealers spent $7.5 billion on advertising during the first six months of 2009, says TNS Media Intelligence. The company that keeps track of nearly every form of ...
Mitsubishi launches big incentives through Sam's Club Chris Shunk
Twin pack of bread, 36 bottles of water, 24 rolls of toilet tissue, a 64-oz. box of cereal and... a 2010 Mitsubishi Galant. That may sound a bit odd, but if you want certain 2009 and 2010 ...
Officially Official: VW and Suzuki tie the knot 6 days ago on Autoblog
As you can see from the image above depicting Osamu Suzuki, chairman and CEO of Suzuki Motor Corp. and Martin Winterkorn, his counterpart at Volkswagen AG, the two auto companies have agreed to link arms. Volkswagen has properly announced that it has "reached a common understanding to establish ...
REPORT: Volkswagen to take 20% stake in Suzuki 7 days ago on Autoblog
Where there's smoke, there's fire. Though Suzuki CEO Osamu Suzuki would beg to differ, it seems that the old saying has once again been proven prescient. After a ton of rumor, innuendo and speculation on the matter along with the subsequent denials, a fresh report from Reuters indicates that ...
REPORT: Even while pursuing Volvo, Geely again mulling bid for Saab? 8 days ago on Autoblog
Just about every time an automaker decides to sell one of its brands, Chinese automaker Geely comes up as one of the potential suitors. Geely executive Lawrence Ang has reportedly told Automotive News that the reason Geely has been present at a lot of negotiating tables is because it wants to ...
REUTERS: China's BAIC secures $2.1B line of credit... is it for Saab? 9 days ago on Autoblog
Beijing Automotive Industry Corporation (BAIC) could still be in the game for Saab, having secured a $2.93 billion line of credit from the Bank of China. On the other hand, BAIC could just be gearing up for its own home-grown expansion plans, with an eye on ramping up production and putting ...
Is Peugeot-Citroën on the verge of buying Mitsubishi? 11 days ago on Autoblog
The French and the Japanese have gotten together to form a magic partnership once already with Carlos Ghosn at the helm. The question is, then, can that success be replicated? PSA Peugeot-Citroën seems to hope so, and it is reportedly on the verge of purchasing a controlling stake (somewhere ...
BREAKING: Whitacre to shakeup GM management, put Lutz in product planning [UPDATE: Confirmed] 11 days ago on Autoblog
Having just been appointed interim CEO at General Motors earlier this week, ex-AT&T man Ed Whitacre isn't wasting any time in exercising his newfound authority. According to The Wall Street Journal, Whitacre is to announce a number of management changes this morning, including moving Vice ...
REPORT: GM selling control of Chinese joint venture to SAIC, half of India operations 11 days ago on Autoblog
It has been a busy week at General Motors. The week started off with CEO Fritz Henderson's abrupt resignation, then executives converged on the LA Auto Show where Bob Lutz was the keynote speaker and then the U.S. market Chevy Cruze was revealed. Now, the General is reportedly deep in negotiations ...
REPORT: U.S consortium now in lead for Volvo purchase 12 days ago on Autoblog
Just about a month ago, news hit the interwebs that Chinese automaker Geely officially became Ford's preferred bidder for Volvo once concerns over intellectual property were sorted out. Today, though, we're hearing that Crown, a consortium led by former Ford director Michael Dingman, former Ford ...
Ruh-Roh: Marchionne reportedly puts Alfa Romeo under review 13 days ago on Autoblog
Take a look at the Fiat auto group. What division (barring Ferrari and Maserati) would you think holds the highest value for the company? If you thought Alfa Romeo, you're on the same page as yours truly, but you'd be mistaken. Horribly mistaken, as it turns out: Alfa has lost Fiat hundreds of ...
Merbanco out, Spyker in as Saab bidding heats up. Was Fritz axed because he wanted Saab closed? 13 days ago on Autoblog
As General Motors suddenly finds itself in search for a new CEO to replace Fritz Henderson, it is also looking to secure a buyer for perennially troubled Saab. GM originally thought it had a new parent for the brand in Koenigsegg, but after that deal went sour, Detroit officials confirmed that ...
REPORT: GM could sell some Saab assets to Chinese; brand has through year's end to find buyer 14 days ago on Autoblog
General Motors' Saab brand has been given a one month stay of execution as the Detroit, MI-based automaker has announced that it will hold off on a decision regarding the brand's fate until the end of the year. GM's apparent non-decision comes just one week after it announced that Swedish ...
REPORT: Renault and Russia come to agreement on AvtoVAZ 15 days ago on Autoblog
Renault has found a way to appease Russian Prime Minister Vladimir Putin that didn't involve writing a check for $850 million. The French company took a 25% stake in Russian carmaker Avtovaz, and when Avtovaz started having a hard time of it earlier this year Renault looked content to see how ...
How do you spell Hyundai's Kryptonite? J-D-M 16 days ago on Autoblog
As Hyundai continues to pull itself up by its bootstraps, the company is moving decisively and picking up share around the globe. However, one key market continues to be so problematic for the brand that they've decided to abandon it altogether: Japan. Rather than dodder around and wait for its ...
Followup: Auctioneer Kruse ordered to pay bank $1.3M, has jet repo'd 17 days ago on Autoblog
The walls are closing in on Dean Kruse, head of the Indiana-based Kruse International auction house. In September, a slew of lawsuits were filed against the company. Further opening the wound, a county court in Indiana has now ordered Kruse to pay more than $1.3 million to a bank in Warsaw -- just ...
REPORT: Saab still has at least two interested parties - BAIC and Merbanco 17 days ago on Autoblog
When Koenigsegg pulled out of its agreement with General Motors to purchase Saab, many thought that General Motors would dump the Swedish automaker much like it did the Saturn brand. But it appears that The General is still willing to look for another interested party, and speculation is that ...
REPORT: China's Changan delays plan to enter North American auto market 20 days ago on Autoblog
Changan is coming to America, just not yet. Aiming to establish a base in Mexico with which to move into the U.S. market, the Chinese automaker signed a deal last year to build a plant south of the border. The familiar story of planetary financial catastrophe has encouraged Changan to tap the ...
Williams sells minority stake to Austrian investor 20 days ago on Autoblog
With all the money that goes into running an F1 team, and the limited opportunity to make any of it back, we can't see why anyone would view owning a team as a sound investment. Evidently Herr Toto Wollf feels otherwise, as the Austrian financier and gentleman racing driver has acquired a minority ...
REPORT: GM offering special discounts to rejected franchise customers, move angers dealer group 21 days ago on Autoblog
Realizing that one of its keys to survival is retaining existing owners, General Motors is proactively enticing nearly one million customers – those loyal to now-closed dealerships – with significant financial incentives. According to Automotive News, GM started sending 950,000 ...
BREAKING: Koenigsegg backs out of Saab purchase, brand future up in the air 21 days ago on Autoblog
After riding in on a white horse, Koenigsegg Group AB has pulled out of negotiations to buy Saab from General Motors, leaving the Swedish automaker's future very much in doubt. In a brief statement issued by GM (available after the jump), president and CEO Fritz Henderson says that the company ...
REPORT: BMW hoodwinked by fraudster in sale of Sauber F1 team 21 days ago on Autoblog
Questionable past acquisitions aside, you don't get to be as large and successful as BMW without having some business acumen. That assumption, however, is being cast into question as reports out of Germany suggest that the Bavarian automaker may have been duped in its sale of the Sauber F1 ...
REPORT: Chrysler could lose up to 145 more dealers because they can't get financed 22 days ago on Autoblog
Chrysler's dealers haven't yet entered the portion of the game wherein they can catch a break. As if the dearth of inventory and lack of new vehicles weren't enough, nearly 150 dealers haven't been able to finalize floorplan financing. Since Chrysler Financial has exited that business, GMAC ...
REPORT: Tesla Motors planning IPO "soon" 25 days ago on Autoblog
Rumors about Tesla's plan to go public have been circulating since 2008, but a down stock market seemed to put a damper on the start-up's IPO. Now, the word on the street from Reuters is that Tesla is planning to go public "soon." When might that be, exactly? Who knows. A source told Reuters it ...
Swedish Pickle: Study says GM lost $5,000+ on each Saab sold over the last 8 years 25 days ago on Autoblog
When the automotive history of the last ten or so years is written, one of the most curious chapters will be why big, flush with cash American car companies purchased relatively diminutive, relatively oddball Swedish brands. Ford and Volvo, while still not a match made in heaven, at least gave ...
British GP track Donington Park declares bankruptcy 25 days ago on Autoblog
It's been one heck of a rollercoaster ride for Donington Park this year. The British racing circuit hosted a Formula One race back in 1993, and was set to take over the British Grand Prix from Silverstone until the race promoter fell on hard times. Donington Ventures Leisure Ltd signed a ...
REPORT: Billionaire investor Soros buys $53M in Ford stock, sends it soaring 27 days ago on Autoblog
About a year ago, when Ford's stock dropped to just above $1 per share, we had a total Ralph Kramden-style get rich quick epiphany. Take all our money and buy Ford stock. Why? Having driven Ford's new, excellent products (like, say, the 2010 Ford Fusion), we knew that barring some weird disaster, ...
GM's RenCen headquarters in Detroit 'at risk' without tax credits? 28 days ago on Autoblog
According to The Detroit News, General Motors has gone on record as suggesting that without state tax credits designed to keep 2,500 employees ensconced at its Detroit Renaissance Center headquarters, the automaker could pull out of Motown's skyline and into the suburbs and surrounding areas. ...
REPORT: Saab dealers 'running out of cars' 28 days ago on Autoblog
With new vehicle production at a trickle, and its dealer network slashed by a third, retailers of the Saab brand are finding inventory shrinking to drought levels. Some of the remaining dealers may even run out of new vehicles before replacements arrive. Point the blame towards the pending ...
Porsche suffers $6.6B loss thanks to VW share writedowns 28 days ago on Autoblog
In 2008, Porsche ended its year with a ginormous 8.5 billion euro profit. Pretty amazing for a company that only makes 100,000 vehicles per year. Or not. As it turns out, Porsche's profits had everything to do with the German automaker's plan to buy out the much larger Volkswagen Group, and ...
REPORT: Senator John McCain doesn't believe Chrysler will make it 29 days ago on Autoblog
It looks like everyone is thinking about Chrysler these days. First it was former DaimlerChrysler CEO (and current Daimler CEO) Dieter Zetsche offering advice to Fiat CEO Sergio Marchionne. Now it looks like former presidential contender and current Arizona Senator John McCain not only thinks that ...
GM loses $1.2B last quarter, ready to start repaying loans 29 days ago on Autoblog
This is one of the trickier press releases we've ever had to parse, but here goes. Despite losing $1.15 billion in the third quarter of 2009, General Motors sees this as a "solid foundation." GM President and CEO Fritz Henderson continues, "With a healthier balance sheet and a competitive cost ...
BREAKING: GM to begin repaying $6.7 billion in U.S. loans next month 1 month ago on Autoblog
digg_url = 'http://www.autoblog.com/2009/11/16/breaking-gm-to-begin-repaying-6-7-billion-in-us-loans-next-mon/'; General Motors will announce later today plans to repay the U.S. government some $6.7 billion in loans ahead of its initial due date of July 2015. The payments are expected to begin ...
Autoblog Podcast #157 - Mike Levine trucks along with us!
Quick Spin: Mitsubishi i is a good car with a bad name
Review: 2010 Nissan Maxima SV Sport is a lot of car for a lot of coin
First Drive: 2010 Hyundai Tucson a green machine with few compromises
First Drive: 2010 Lexus GX 460 sticks to its trucky roots
Volvo prices 2011 C30 T5 from $24,600, C30 T5 R-Design at $26,950*
More Bulk Store Buying: Costco and Volvo team up to sell cars
VIDEO: Pastrana practice for record New Year's Eve jump goes awry
VIDEO: Photographer snaps drag car crash with nerves of steel
Invisible to Cops: Top 10 Least Ticketed Vehicles
Autoblog Podcast #157: Mike Levine trucks along with us.
Mike Levine from PickupTrucks.com joins Chris, Sam, and Dan this week and gets a chance to talk about cars, too!
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