Autoblog

MEC Design takes another (eyeball) stab at the SLS AMG

Jonathon Ramsey — Sun, 13 Dec 2009 12:33:00 EST

Filed under: Aftermarket, Coupe, Performance, Europe, Mercedes-Benz, Luxury

2010 Mercedes-Benz SLS AMG by MEC Design - Click above for image gallery

Germans are generally so conservative that we sometimes wonder if their aftermarket scene exists only to provide for the anomalies that every society needs. Not many of you fell for MEC Design's first attempt at visually tuning the Mercedes-Benz SLS AMG, and we would have thought it was something from Tron Legacy if not for the fact of it being yellow. It appears that boys from Berlin returned to their easels and now present the MEC SLS, take two.

It's called a "style study" and to its credit, MEC has deleted the most obscene gestures from the previous rendering: the mommy-make-it-stop nose and horrendous wheels. Nevertheless, MEC's Erector-Set-and-Laffy-Taffy design ethos has only been barely restrained, and the result is still quite troubling. If you have suggestions, you can leave them in the comments section below. We think MEC is reading...

Gallery: MEC Design Mercedes-Benz SLS AMG

[Source: Caradisiac]

MEC Design takes another (eyeball) stab at the SLS AMG originally appeared on Autoblog on Sun, 13 Dec 2009 12:33:00 EST. Please see our terms for use of feeds.

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DTM cars to run in Japan's SuperGT series?

Jonathon Ramsey — Tue, 08 Dec 2009 18:01:00 EST

Filed under: Motorsports, Europe, Japan

Germany's DTM series is presently contested by just two automakers, Mercedes-Benz and Audi. In an effort to increase manufacturer participation, global reach, and television audiences, Autosport reports that DTM's overseers to be talking to Japan's Super GT series organizers about a tie-up. The GT500 class includes Honda, Lexus, Nissan, and a single Aston Martin DBR9.

The talks are centered around letting the cars race together, not DTM and Super GT actually coming together. The hurdles would be rationalizing the specifications: GT500 racers employ a different construction, as the series doesn't mandate spec electronics, tire, gearbox, differential, fuel, and brake suppliers as in DTM. However, Super GT does have its own way of creating parity and close racing, using restrictor plates and pit stop regulations.

If the two can find a way to come together, it might encourage BMW to join the series and bring its American Le Man M3 to the party. The Munich marque has resisted DTM, saying it isn't interested in a series so heavily focused on Germany. Don't get any hopes up, though - the Super GT management said they don't see the link-up as "a matter for the very near future."

[Source: Autosport | Image: Alex Grimm/Bongarts/Getty]

DTM cars to run in Japan's SuperGT series? originally appeared on Autoblog on Tue, 08 Dec 2009 18:01:00 EST. Please see our terms for use of feeds.

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Flash Mob: Police reportedly bust illegal night race on Hockenheim circuit

Noah Joseph — Mon, 23 Nov 2009 11:00:00 EST

Filed under: Motorsports, Europe, Government/Legal

We don't condone illegal behavior here at Autoblog. Heaven forbid. But if you are going to break the law, this strikes us as a good way to go about it.

Reports out of Germany indicate that a group of some 100 people in 43 cars descended upon the Hockenheimring (host of the German Grand Prix) in southern Germany this past Saturday night for what we can only describe as the racing equivalent of a flash mob. The group reportedly coordinated over the interwebs, showed up at night after the track was closed and staged an impromptu race around the circuit.

That is, until 50 cops showed up to bust the illegal race. Officials say they'll all be fined - presumably for trespassing, since we don't imagine there's anything illegal about actually, you know, racing on a race track - and that this wasn't the first time this kind of race has been held on the track after hours. Giggity. Thanks to everyone for the tips!

[Source: The Local | Image: Vladimir Rys/Bongarts/Getty]

Flash Mob: Police reportedly bust illegal night race on Hockenheim circuit originally appeared on Autoblog on Mon, 23 Nov 2009 11:00:00 EST. Please see our terms for use of feeds.

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Brilliance importer for Europe goes belly up

Jonathon Ramsey — Wed, 11 Nov 2009 08:02:00 EST

Filed under: Sedan, China, Europe

When Chinese automaker Brilliance wanted to invade The Continent, it chose Germany-based importer HSO Motors to introduce models like its BS4. Brilliance kept up its end of the agreement, shipping cars to HSO; HSO, however, couldn't get the cars sold, and a little more than a year into the partnership HSO has gone bankrupt.

Three reasons are blamed for the flame-out: the crash test videos for the BS4 and BS6, along with pricing. If you'll remember, when the German ADAC tested the Brilliance BS6, the result was a horror film that would have frightened Freddy Krueger with an official rating of zero stars. After a great deal of improvements and added equipment were put on the BS4, tested two years later, the results were much more palatable -- yet the car still received just three stars. The ADAC's had raised its testing standards, so what would have earned the BS4 a three-star rating under the old methods was only good for zero this time around. That didn't make German buyers comfortable.

The ADAC's testing methods have been labeled unfair, and it's been noted that the ADAC is not a regulatory body. Yet other cars tested under the new methods, like the Skoda Yeti and Honda Jazz, earned five stars. Beyond that, the BS4 is priced at about €16,000 ($24,000 U.S.). Even though it's larger, it's priced against cars like the Focus and Golf, and well above a Skoda Octavia. As a maker trying to earn its way into the field of German car offerings, Brilliance will need to go well beyond the norm to to make its case. For now, Brilliance has taken over HSO Motors' role as importer.

[Source: Euro Car Blog]

Brilliance importer for Europe goes belly up originally appeared on Autoblog on Wed, 11 Nov 2009 08:02:00 EST. Please see our terms for use of feeds.

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SPOILER ALERT: Champion's Champions Crowned at 2009 Race of Champions

Noah Joseph — Wed, 04 Nov 2009 19:26:00 EST

Filed under: Motorsports, China

2009 Race of Champions - Click above for high-res image gallery

Every year, around the world, drivers compete wheel to wheel in all manner of racing series, from rally to F1, touring cars to Le Mans and everything in between. It gives racing fans plenty of varied action to follow, but it leaves one question ultimately unanswered: who is the world's best driver? That's where the Race of Champions comes in.

The event has been held every year since 1988 at the end of the regular racing season, giving the world's best from all manner of racing series the world over a chance to compete against one another on equal footing and common ground. And this year's Race of Champions was no less decisive. Follow the jump to read who claimed victory as the champion of champions.

Gallery: Race of Champions 2009

Continue reading SPOILER ALERT: Champion's Champions Crowned at 2009 Race of Champions

SPOILER ALERT: Champion's Champions Crowned at 2009 Race of Champions originally appeared on Autoblog on Wed, 04 Nov 2009 19:26:00 EST. Please see our terms for use of feeds.

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Germany not happy with GM abandoning Opel sale

John Neff — Wed, 04 Nov 2009 11:19:00 EST

Filed under: Europe, GM, Opel

It was an exhausting 7-month process that finally winnowed down a pool of suitors for Opel, General Motors' European subsidiary, to Canadian parts maker Magna and Russian bank Sberbank. The deal was all set to go through, but GM pulled the plug yesterday at the 11th hour, claiming that because of Europe's improving markets and its own better-than-expected financial footing, the automaker could do better for Opel and employees than any of its proposed buyers.

Not so says government officials in Germany, who are reportedly crying in their steins and cursing the day Fritz Henderson was born (we're guessing). Of course, there's money involved, but GM has vowed to pay back the €1.5 billion bridge loan it received from the German government to keep Opel afloat during the selling process. It reportedly only borrowed €1.1 billion and has already paid back €200 million, so Germany is still owed about €900 million.

Aside from the money, German officials and Opel employees in the country are concerned that there will be more job cuts and plant closings by GM than there would have been if the company had been sold to Magna. As such, some of the unions in Germany that had agreed to concessions in order to woo Magna into ownership have vowed not to extend those same concessions to GM.

Outside of Germany, however, GM Europe workers are reportedly happy with the decision to keep Opel in the family fold. Their jubilation stems from fear that had Germany succeeded in brokering the sale of Opel to Magna, other countries like the UK, Spain and Belgium would bear the brunt of restructuring instead of Deutschland. This way, GM is more likely to evenly spread out the costs of restructuring, including job loss, without one region being able to exert too much influence.

[Source: The Detroit News, Automotive News - sub. req'd | Photo by TORSTEN SILZ/AFP/Getty]

Germany not happy with GM abandoning Opel sale originally appeared on Autoblog on Wed, 04 Nov 2009 11:19:00 EST. Please see our terms for use of feeds.

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Opel sale on hold, GM asked to have a word with EU Commission

Jonathon Ramsey — Mon, 26 Oct 2009 07:26:00 EST

Filed under: Europe, GM, Opel

The EU's Directorate-General for Competition (EUDGC) is looking at the Opel deal that should have been concluded already, and is asking questions of Germany and GM. Principally it is trying to resolve the issue of state aid; it was reported before that if Opel was purchased by Magna then the German government would provide financial assistance. However, if the bidder GM is said to have preferred, Belgian investment fund RHJ, won, then there would be no money coming from the German authorities.

The EUDGC wants to ensure that Magna was chosen for sound business reasons that had nothing to do with politics. It also wants to make sure that money promised to Magna was also clearly made available to other bidders. Lead GM negotiator John Smith said "The German Government was asked by DG Competition to communicate its position on financing availability to GM and the Opel Trust Board." And Germany's Economic Minister has asked GM to also tell the EU that it chose Magna based on reason and logic.

Meanwhile, GM continues to work with Magna on finalizing issues relating to the sale. No matter what happens with the EU, GM has to work with Magna right now because Magna is making decisions for Opel, such as whether to close down an Opel plant in Zaragoza, Spain. The EUDGC will want to complete its investigation in a timely manner, since having to unwind -- or redo -- what has taken six painful months to put together would be a massive blow to all involved.

[Source: GM Fastlane Blog via Automotive News - Sub. Req.]

Opel sale on hold, GM asked to have a word with EU Commission originally appeared on Autoblog on Mon, 26 Oct 2009 07:26:00 EST. Please see our terms for use of feeds.

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Inden Design gets Mercedes-Benz SL 500 to go "deep and wide"

Jonathon Ramsey — Sun, 25 Oct 2009 11:28:00 EST

Filed under: Aftermarket, Convertible, Performance, Mercedes-Benz, Specialty

Inden Design SL -- Click above for image gallery

The Inden Design SL will turn your ordinary aging SL 500 into a previous-gen SL65 AMG lookalike and then some. The firm installs fascias front and rear and exhaust pipes that mimic the SL65, then the whole body is given the blackout treatment right down to the door handles. And could we even call it German tuning if it didn't get a set of custom 20-inch wheels tucked fender-deep on Pirelli rubber bands?

Interior bits get some varnish, the SL65 steering wheel makes an appearance, and to combat that ridiculous ride height an adjustable suspension module is installed to provide 50mm of vertical movement. The engine, however, only gets a 15-hp upgrade to 330 horsepower. So if you see any real SL65 AMGs, you'll probably want to keep looking straight ahead.

You can read about all the mods in the press release after the jump, and check it out in the gallery of photos below.

Gallery: Inden Design SL500

[Source: Inden]

Continue reading Inden Design gets Mercedes-Benz SL 500 to go "deep and wide"

Inden Design gets Mercedes-Benz SL 500 to go "deep and wide" originally appeared on Autoblog on Sun, 25 Oct 2009 11:28:00 EST. Please see our terms for use of feeds.

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VIDEO: Microsoft may one-up Google Street View with virtual video drives

Jonathon Ramsey — Tue, 20 Oct 2009 09:58:00 EST

Filed under: Europe, Technology, Videos

Click above to view the video after the jump

Until cars drive themselves and we absolutely can't get lost, automakers and sat nav companies are steadily enhancing the graphics of navigation systems to make it easier to find the next right turn. Navigation systems in Renaults, for instance, provide a graphic representation of buildings that you'll see as you drive along, and now Microsoft, working with researchers at the University of Konstanz in Germany, have added video to navigational maps.

The project took the snapshots of cities collected by mapping companies (like Google Streetview does) and 'plays' them like video at important sections of the route. The text route and route overview are still provided, the video simply aids in noting or remembering where you need to remember a crucial direction.

You can watch the video before you actually get in your car so that, like cheating for an exam, you'll visually recognize the turn or a landmark when the time comes. The photographs are also skewed as necessary to create the right perspective, and when you get to a turn, the video will look in the proper direction beforehand so that you can note specific features. It's currently still in trial phase, but during the first study it improved people's ability to follow direction by 20 percent. Follow the jump to watch the video, and here's to no more getting lost. Soon.

[Source: Microsoft and MIT]

Continue reading VIDEO: Microsoft may one-up Google Street View with virtual video drives

VIDEO: Microsoft may one-up Google Street View with virtual video drives originally appeared on Autoblog on Tue, 20 Oct 2009 09:58:00 EST. Please see our terms for use of feeds.

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Porsche Panamera already going to fleets, rent one from Avis in Germany

Sam Abuelsamid — Thu, 17 Sep 2009 08:58:00 EST

Filed under: Sedan, Performance, Europe, Porsche

2010 Porsche Panamera - Click above for high-res image gallery

Aside from four primary entry portals and four wheels, Porsche's new Panamera certainly doesn't have much in common with the Ford Taurus of earlier this decade. However, like the former queen of U.S. rental fleets, Porsche's latest will soon be available for visitors to Germany to sample. Avis locations throughout the fatherland will be offering the Panamera for hire starting October 1st. Both of the normally aspirated versions, the S and 4S, will be on hand at major airports and inner city outlets.

The rental rates will start at a surprisingly reasonable €189 per day from Monday to Thursday. If, on the other hand, you plan to hit the autobahn for a weekend getaway, the tariff goes up to a more Porsche typical €567. No word on whether the rental agreement explicitly prohibits visits to a certain race track in the Eiffel mountains...

Gallery: First Drive: 2010 Porsche Panamera

[Source: Porsche]

Continue reading Porsche Panamera already going to fleets, rent one from Avis in Germany

Porsche Panamera already going to fleets, rent one from Avis in Germany originally appeared on Autoblog on Thu, 17 Sep 2009 08:58:00 EST. Please see our terms for use of feeds.

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You didn't think the battle for Opel was over, did you? Belgium reportedly asking EU to investigate

Jonathon Ramsey — Sun, 13 Sep 2009 10:36:00 EST

Filed under: Europe, Government/Legal, GM, Opel, Canada

When GM decided to hand 55% of Opel to Magna, you didn't think the Belgians were just going to have some waffles and call it quits, did you? Oh no. Belgium's prime minister made a call to the EU president about the deal, and the EU Competition Commissioner Neelie Kroes told a Belgian newspaper, "If something happens against the rules, I will take action."

According to the prime minister, however, the rules have already been broken. Even though Magna has said it will need to trim more workers than expected, the Belgian leader said, "Financial aid given by a country that guarantees that the factories in their country don't close is against EU rules." The sale to Magna has observers screaming, "Politics!" but has made German Chancellor Angela Merkel look very good in the run-up to elections on September 27; with EU scrutiny all she really needs to hope for is that it takes them longer than two weeks to come to an adverse finding, if that should happen.

Opel labor, however, isn't so pleased anymore now that Magna has said it will need to eliminate more jobs than it originally proposed. Initial estimates put job losses at 2,500 workers in Germany; now the Canadian company is saying 4,100 jobs could be lost. It appears that Opel workers plan to assert themselves if Magna does anything differently than it said it would. In addition, labor wants "a veto right over job cuts, transfer of production or plant closures," which are the kinds of rights VW labor unions have. If you ask us, the dust on this one is nowhere near settled.

[Source: Automotive News, sub req'd]

You didn't think the battle for Opel was over, did you? Belgium reportedly asking EU to investigate originally appeared on Autoblog on Sun, 13 Sep 2009 10:36:00 EST. Please see our terms for use of feeds.

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BREAKING: GM board recommends coughing up 55% Opel stake to Magna, Sberbank

Jeremy Korzeniewski — Thu, 10 Sep 2009 11:30:00 EST

Filed under: Europe, Government/Legal, GM, Earnings/Financials, Opel, Vauxhall

Finally, after what seems like an eternity of protracted negotiations, bickering and stalling tactics, General Motors has agreed to sell a majority stake in its European operations to Magna International and its Russian financial partner Sberbank. Under the terms of the deal, 55% of Opel and Vauxhall will be owned by Magna/Sberbank; The General will hold on to a 35% stake and employees of the two companies will hold the final 10 percent.

Naturally, the European automakers will continue to offer the recently redesigned Astra and Insignia, and future technologies - such as the extended-range electric powertrain that will be used in the upcoming Ampera - will be shared between the U.S. and European companies.

According to Automotive News, there are still strings attached to the deal and the German government doesn't expect anything to be completely finalized until after the next set of elections scheduled to take place in Germany on September 27, so the saga is likely to continue. Click past the break for the official statement from GM.

[Sources: General Motors; Automotive News - sub. req'd]

Continue reading BREAKING: GM board recommends coughing up 55% Opel stake to Magna, Sberbank

BREAKING: GM board recommends coughing up 55% Opel stake to Magna, Sberbank originally appeared on Autoblog on Thu, 10 Sep 2009 11:30:00 EST. Please see our terms for use of feeds.

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Weekend Watching: Modern Marvels: Autobahn on Hulu

Jonathon Ramsey — Fri, 28 Aug 2009 18:00:00 EST

Filed under: Etc., Europe

There is a road that has taken on the awe of a holy relic, practically the Dead Sea Scrolls of tarmac, and it goes by one simple name: Die Autobahn. There are few, if any, other roads in the world that are as significant for gearheads as those remaining polished stretches of German highway that remain unhindered by speed limits. Even for us jaded hacks, the opportunity to open up the right car in the left lane is, if not rapture, at least an out-of-body experience.

So this is merely a public service announcement for gearheads: if you need something to do this weekend, Hulu has the History Channel's Modern Marvels episode on the story of the Autobahn. Even with Hulu's commercials it's only 46 minutes, which means you can pay your respects quickly. And if there's anything better than the Autobahn, it's the Autobahn with a pillow and popcorn. Thanks for the tip, Jay!

[Source: The History Channel via Hulu]

Weekend Watching: Modern Marvels: Autobahn on Hulu originally appeared on Autoblog on Fri, 28 Aug 2009 18:00:00 EST. Please see our terms for use of feeds.

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REPORT: Opel labor union goes on the offensive, GM negotiator meets with German feds

Jonathon Ramsey — Wed, 26 Aug 2009 10:58:00 EST

Filed under: Europe, Plants/Manufacturing, GM, Opel, UAW/Unions

The battle for Opel has added another front: Opel labor unions at two of the company's German factories retracted an agreement made last year to forgo vacation bonuses. The move demands that General Motors pay the laborers €70 million ($100.2M U.S.) by next week, the amount that they agreed to give up when GM was trying to rescue itself. Workers at two other Opel factories in Germany are expected to make the same move some time this week. The workers want GM to sell to Magna, and if The General doesn't make its intentions plain soon, the next step will be for Opel labor to demand the wage hike they waived last year, which would see the automaker owe another several hundred million euros.

According to Automotive News, GM's board met to discuss which bidder, Magna or RHJ, it would go with, but instead of making a decision it sent its lead negotiator back to Germany to talk to government officials. As of last week, there were rumors of GM wanting a buyback option for Opel, which could get GM quickly back into Europe when the company restores its fortunes. The option seemed to make RHJ the leading bidder, but not the one German government or labor wants.

If RHJ wins, it will get no state aid. If Magna wins, it has been pledged €4.5B ($6.4B U.S.) in government loans. The disadvantage could cause RHJ to deal with Opel drastically, which would greatly displease a whole lot of Germans. Perhaps that is why there is now talk of GM not selling Opel at all, instead looking to raise $4.3 billion to keep Opel in the family. With GM barely out of bankruptcy, and with economies still shaky, observers aren't sure where GM would get that kind of money. It is thought that GM will announce its intentions in the next day or so.

[Source: Automotive News, sub req'd]

REPORT: Opel labor union goes on the offensive, GM negotiator meets with German feds originally appeared on Autoblog on Wed, 26 Aug 2009 10:58:00 EST. Please see our terms for use of feeds.

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GM issues a 'No-Decision' on fate of Opel, German government not happy

Jonathon Ramsey — Mon, 24 Aug 2009 07:58:00 EST

Filed under: Europe, GM, Opel

General Motors was meant to decide who would be the winning bidder for Opel last Friday. But it didn't. Instead, GM asked the German government for more information on federal financial assistance available to buyers. The German government would like Magna to take over Opel as it vowed to retain a huge chunk of jobs in Germany, but GM has given every indication of preferring Belgian investment fund RHJ.

GM wants to know how much money RHJ would get in case it was chosen to buy Opel. It looks like GM still has issues with Magna buying Opel and is looking for a way to choose RHJ and save at least a little face with the German government. If RHJ can get an attractive financial package from the feds, it can also save more jobs than it might be inclined to otherwise, and GM doesn't have to worry about Russian competitors using its own technology.

The German government wants none of it, though. It has called on the United States government to get GM to make a decision. That isn't likely to happen, but it shows how intense things are with Opel, politicians, labor and upcoming elections. On a side note, the BBC reported that part of GM's plan could include a buy-back option for Opel, which, if true, would probably make a lot more sense for RHJ than Magna.

[Source: Auto News, sub req'd]

GM issues a 'No-Decision' on fate of Opel, German government not happy originally appeared on Autoblog on Mon, 24 Aug 2009 07:58:00 EST. Please see our terms for use of feeds.

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RHJ ups offer for Opel, commits to Vauxhall, has "good chances of winning"

Jonathon Ramsey — Wed, 12 Aug 2009 08:30:00 EST

Filed under: Europe, Government/Legal, GM, Opel

Belgian investment firm RHJ, once considered a back-up bidder for Opel, is now considered a front-runner - at least according to its own CEO. RHJ head Leonhard Fischer has already told U.K. officials that the company is committed to retaining the Vauxhall name, and speaking to German newspaper Handelsblatt, he said he likes his chances in the run for Opel.

Opel workers still want GM to settle on Magna and have asked the German government to nudge to GM make that happen. In response, RHJ is considering lowering the amount of aid it will request from the federal government to an amount that is €900 million ($1.27B U.S.) lower than the number Magna has requested. The flip side: RHJ would pay GM less in royalties to make up the loss.

Not that The General seems to mind. GM's chief negotiator said that a deal with RHJ was "virtually wrapped up" and just waiting on government approval. A deal with RHJ would also give GM fewer headaches on the Russia and intellectual property issues - problems with a Magna deal that GM has described as "significant." With a basic deal between GM and RHJ concluded, the main dealings now appear to concern GM and the federal authorities. And if RHJ wins, the question everyone will want to know is: will RHJ be Cerberus with a Flemish accent?

[Source: Automotive News - Sub Req.]

RHJ ups offer for Opel, commits to Vauxhall, has "good chances of winning" originally appeared on Autoblog on Wed, 12 Aug 2009 08:30:00 EST. Please see our terms for use of feeds.

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REPORT: Opel, waiting on GM and the German government, heading toward bankruptcy

Jonathon Ramsey — Mon, 03 Aug 2009 09:31:00 EST

Filed under: Europe, Plants/Manufacturing, GM, Opel, UAW/Unions

There are five noteworthy parties involved in the negotiations over Opel's fate: GM, the German government, the Opel trust, states with Opel manufacturing plants, and the Opel labor union. The Opel trust is the body created to run Opel after GM's bankruptcy, and consists of five members: a chairman, a representative for the German states with Opel plants, a representative for the German government, and both the CFO and chief negotiator for GM Europe. Got all that?

At this point Opel's future looks to have three possible trajectories: a sale to Magna, a sale to Belgian investment bank RHJ, or bankruptcy. Beijing Automotive also bid on Opel but it hasn't been mentioned in any recent discussions. The negotiating parties, however, haven't come to a decision on which future is the best for the German brand.

GM is still negotiating with Magna, but Magna apparently made promises to its Russian backers -- Sberbank and GAZ -- regarding "intellectual property and [GM's] Russian operations that simply could not be implemented." GM says it doesn't have a preferred bidder, but it's working with Magna to make the Austrian company's bid acceptable. The German states' rep on the Opel trust, and labor are said to prefer Magna win.

On the other hand, the German government rep is said to prefer the offer from RHJ or letting Opel declare insolvency. GM's negotiator said the RHJ tender is "a much simpler structure and would be easier to implement." The hitch could be that the German government's financial assistance to Opel is dependent on a the new buyer having a long term plan for the company and saving German jobs. Those aren't the kinds of terms usually associated with investment banks. According to one German premiere, though, a "clear decision" on Opel should come next week.

[Source: Bloomberg]

REPORT: Opel, waiting on GM and the German government, heading toward bankruptcy originally appeared on Autoblog on Mon, 03 Aug 2009 09:31:00 EST. Please see our terms for use of feeds.

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Did you think the VW-Porsche deal was done? Nein.

Jonathon Ramsey — Tue, 21 Jul 2009 10:59:00 EST

Filed under: Europe, Porsche, Volkswagen, Earnings/Financials

When Volkswagen and Porsche sat down at dinner to discuss which one was going to eat the other one, they forgot to invite the German tax man. After VW came to terms with Porsche to take a 49.9% stake in the Stuttgart sports car maker for €8 billion (around $11.4 billion U.S.), the parties discovered there would be a €3 billion ($4.26B) tax bill on top of that.

Adding €3B just to conclude the deal, the way it's currently structured, makes it untenable for both parties. Qatar is still in the picture, but until it's decided who would pay the tax and what they would get in return, some sources are saying the whole thing could evaporate. And if that happened, that could force Porsche to turn to one of several unsavory chapters titled "BK" in the commercial code. Neither VW nor Porsche has yet commented on the tax issue. Thanks for the tip, John!

[Source: News.com.au]

Did you think the VW-Porsche deal was done? Nein. originally appeared on Autoblog on Tue, 21 Jul 2009 10:59:00 EST. Please see our terms for use of feeds.

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Hockenheim vs. Nürburgring: Nobody wants the German Grand Prix next year?

Noah Joseph — Fri, 17 Jul 2009 18:58:00 EST

Filed under: Motorsports, Europe, Government/Legal, Earnings/Financials

The right to host a Formula One grand prix in Germany was once a hot commodity. Both Hockenheim and the Nürburgring wanted it, and for years, both got it, with the former's event billed as the German Grand Prix and the latter's as the European Grand Prix. Both put up a fight when parallel events were reduced to one, and an alternation agreement was put in place for the Nürburgring to host in even years and Hockenheim in odd years. But in a spectacular sign of the times, it appears that nobody wants the race next year.

Hockenheim was counting on government support to pay the allegedly exorbitant fees demanded by rights holder Bernie Ecclestone, But with empty coffers, local government officials aren't willing to foot the bill any longer. All eyes were then cast upon the Nürburgring, which hosted the race just last weekend, but according to managing director Walter Kafitz, they don't have the cash to host it, either. Kafitz says the only solution would be for Ecclestone to reduce his fees, but after a meeting with the local governor was canceled in the wake of Ecclestone's recent comments, that seems about as likely as ~~Honda leading the championship~~... ~~Mosley resigning~~... ~~Ferrari failing to win a single race~~... well, you get the idea.

[Source: Autosport | Image: Atilla Kisbenedek/AFP/Getty]

Hockenheim vs. Nürburgring: Nobody wants the German Grand Prix next year? originally appeared on Autoblog on Fri, 17 Jul 2009 18:58:00 EST. Please see our terms for use of feeds.

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Ferrari opens new store at the Nürburgring

Noah Joseph — Thu, 16 Jul 2009 09:30:00 EST

Filed under: Ferrari

Ferrari Store at the Nürburgring - Click above for high-res image gallery

With Felipe Massa on the podium for the first time this season, Ferrari had enough cause to celebrate at this year's German Grand Prix. But that wasn't the only milestone the Maranello outfit marked at the Nürburgring this past weekend as Ferrari opened a massive new retail facility adjacent to the famed racing circuit.

The latest Ferrari Store is the first in Germany and the first at a race track (assuming you exclude the flagship store in Maranello near the company's own Fiorano circuit). We initially reported on the plans nearly a year ago, but full details have now emerged: the Iosa Ghini-designed store encompasses 240 square meters of space in the new Nürburgring trackside complex, including retail space for Ferrari's growing range of merchandise, a lounge overlooking the track, a business conference room and an F1 car on display. Massa and Raikkonen were on hand to dedicate the new site, which is only the latest step in a planned expansion that will include 40 new locations around the world over the course of the next three years. Check out the details in the press release after the jump and photos in the gallery below.

Gallery: Ferrari Store at the Nurburgring

[Source: Ferrari]

Continue reading Ferrari opens new store at the Nürburgring

Ferrari opens new store at the Nürburgring originally appeared on Autoblog on Thu, 16 Jul 2009 09:30:00 EST. Please see our terms for use of feeds.

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