Autoblog

JDM Retrofuturism: Mitsuoka launches updated New Viewt

Jonathon Ramsey — Mon, 19 Oct 2009 09:29:00 EST

Mitsuoka Viewt -- Click above for high-res image gallery

You know that unique thing that Mitsuoka does? If not, see for yourself. And here's another example of it: the new Viewt. Originally introduced in 1993, the Viewt is a Nissan Micra underneath what kind of resembles a Jaguar MkII shell. The latest version of the Viewt underwent some slight changes to ensure compliance with Japanese safety regulations, such as integrating the bumpers into the front end panels.

We consider it a testament to Mitsuoka's designs that a shrunken, ill-proportioned Jaguar clone that sits on a Nissan microcar isn't the strangest thing the company has done. To see more of it, check out the gallery of high-res images below.

Gallery: Mitsuoka New Viewt

[Source: Mitsuoka]

JDM Retrofuturism: Mitsuoka launches updated New Viewt originally appeared on Autoblog on Mon, 19 Oct 2009 09:29:00 EST. Please see our terms for use of feeds.

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Texas truck sales uptick seen as bellweather for auto sales?

Chris Shunk — Wed, 09 Sep 2009 09:29:00 EST

Filed under: Truck, Chevrolet, Dodge, Ford, GMC, Nissan, Toyota

2009 Ford F-150 - Click above for high-res image gallery

When auto sales began to circle the drain in 2008, no single segment was hurt more than pickup trucks. Sales were cut in half in many instances, pummeling the domestics from Detroit more often than their foreign competition. Truck sales even dropped in Texas - easily the world's largest market for all things with four wheels, a bed and a V8 engine. Some Texas dealers saw sales drop 30% or more in 2008 and 2009, but some signs point to a turning point for truck sales and perhaps even the auto industry as a whole.

In August, the Ford F-150 saw its first year over year sales increase in three years. Automotive News is reporting that dealers in Texas are reporting more fleet and retail traffic, and one ton trucks are beginning to move off the lot again. Analyst Erich Merkle with Autoconomy.com told AN that the increased truck activity in Texas could mean that the auto industry is on the back swing, and more importantly, perhaps the entire American economy.

As an example of how this could play out, Texas is home to many of our nations biggest ranches. Dealers often sell entire fleets of trucks to these massive ranches, and if they are asking for more trucks, the results will be noticeable in our monthly By the Numbers update. And if ranchers are buying trucks again, that means we're making more things and more money changes hands, which means the economy may be bouncing back to life.

We know it's a bit of a stretch to hang the entire economy on Texas truck sales, but more trucks usually means more building and more construction. We're not sure if that's a bellweather for success, but it can't exactly be a bad thing either.

Gallery: 2009 Ford F-150

[Source: Automotive News - Subs. Req'd]

Texas truck sales uptick seen as bellweather for auto sales? originally appeared on Autoblog on Wed, 09 Sep 2009 09:29:00 EST. Please see our terms for use of feeds.

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Triple Play: Mercedes reportedly files patent papers for three-seat Smart

Jonathon Ramsey — Mon, 03 Aug 2009 16:19:00 EST

Filed under: Budget, Mercedes-Benz, Smart, Design/Style

Trying to give buyers more chances to get into a Smart, the company produced a four-seat hatch called the ForFour in 2004. It sold so poorly that the car was axed after just two years. In spite of that, Autocar says that parent Mercedes-Benz has filed patent papers for an embiggened Smart.

This time, it's the Smart ForThree, with a 1+2 seating arrangement a la the McLaren F1. Unlike the F1, though, the Smart's center-positioned driver's seat would be completely forward of the rear seats. That way, it could rotate or be mounted on lateral sliders to make it easier for the driver to get in.

Engines aren't mentioned, but Mercedes does have a line of modular three-cylinder engines as well as a seven-speed dual-clutch gearbox that are being prepped for small car use. Sources report that the car could be in showrooms by 2014.

[Source: Autocar]

Triple Play: Mercedes reportedly files patent papers for three-seat Smart originally appeared on Autoblog on Mon, 03 Aug 2009 16:19:00 EST. Please see our terms for use of feeds.

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REPORT: Analyst urges Mitsubishi, Suzuki to exit U.S. market

John Neff — Fri, 10 Jul 2009 19:30:00 EST

Filed under: Mitsubishi, Suzuki

Click either image for a high-res gallery

Two U.S. domestic automakers have now entered and emerged from Chapter 11 bankruptcy. Other automakers that were doing well before the economic implosion are now scrambling to cut costs and get people into showrooms with creative incentives. And then there's Suzuki and Mitsubishi. While each brand offers a model or two that's genuinely competitive, neither has been able to fend off the huge sales decline that's hit the U.S. auto industry.

Suzuki sales in the U.S. were down a remarkable 78% last month, while Mitsubishi fared just a bit better with a 42% decline. These types of numbers have at least one analyst from Fukoku Capital Management, Inc. advising each Japanese brand to withdraw from the U.S. market altogether.

For its part, Mitsubishi says no way. Bloomberg quotes the company's president saying bluntly, "We will never give up the U.S. market." He went on to say that Mitsubishi won't seek alliances with other automakers or use its assembly plant in Illinois to build vehicles for other brands. In the meantime, Mitsubishi has shuttered its U.S. design studio and canceled the Raider pickup supplied by Chrysler.

Suzuki, meanwhile, has the Kizashi mid-size sedan on the way. Sales me be down now, but don't expect the automaker to pull out when it's got a potential game changer on deck.

While the analyst's advice is not surprising considering the numbers, the numbers aren't surprising when you consider the lineups on offer in Mitsubishi and Suzuki showrooms. Sure, Mitsubishi has the Lancer EVO and Suzuki's SX4 is not a bad little car, but the rest struggle to even compete and are backed by little-to-no creative marketing.

What we may be seeing are this market's two smallest Japanese import brands going into hibernation until the U.S. economy recovers. Other markets around the world are still profitable for each and Suzuki still makes some of the best motorcycles on earth (an association still far underutilized by its autos division). The question remains: Will either brand have anything worth buying when Americans open up their wallets again? Hat tip to Wave54!

Gallery: 2009 Mitsubishi Model Line Up

Gallery: 2009 Suzuki Model Line Up

[Source: Bloomberg]

REPORT: Analyst urges Mitsubishi, Suzuki to exit U.S. market originally appeared on Autoblog on Fri, 10 Jul 2009 19:30:00 EST. Please see our terms for use of feeds.

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REPORT: Lamborghini sees no recovery until 2011

Chris Shunk — Wed, 10 Jun 2009 18:00:00 EST

Filed under: Car Buying, Trends, Supercars, Lamborghini

Lamborghini Murcielago LP670-4 SuperVeloce - Click above for high-res image gallery

After several years of record growth, Lamborghini, like most automakers, is struggling in a tough economy. Sales are down 30% so far in 2009, and the Raging Bull even laid off factory workers for seven weeks in an effort to keep down inventories. Chief Executive Stephan Winkelmann told Reuters that he expects the sales slump to continue through 2010, saying that the "crisis is very deep."

Winkelmann points out that sales are down over 40% in the US (Lamborghini's top market), and the company's waiting list has dropped from one year to six months. Lamborghini's struggles closely mirror problems with the economy at large; areas that have been hit by investment banking and real estate woes aren't in the market for Italian supercars.

Regardless of the dim forecast for the next 18 months, Winkelmann is still bullish when it comes to profits. The company cleared 60 million euros in 2008 ($84 million in US funds) and the Italian automaker expects to remain in the black even if sales take a 40% plunge. And the world renown luxury exotic automaker will have to stay solvent while vastly improving its carbon footprint. Lamborghini plans to reduce CO2 emissions coming from its vehicles by 35% in six years.

Gallery: Lamborghini Murcielago LP 670-4 SuperVeloce

[Source: Reuters]

REPORT: Lamborghini sees no recovery until 2011 originally appeared on Autoblog on Wed, 10 Jun 2009 18:00:00 EST. Please see our terms for use of feeds.

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Rumormill: Could the Fiat-Chrysler deal yield a North American Ford Ka?

Jonathon Ramsey — Mon, 11 May 2009 09:58:00 EST

Filed under: Budget, Plants/Manufacturing, Hatchback, Chrysler, Ford, Fiat, Rumormill

The 2009 Ford Ka - Click above for a high-res gallery

It's a long shot, but according to The Detroit Free Press, Chrysler's deal with Fiat could result in Ford offering the cutesy Ka for sale in North America. As you may recall, Ford co-developed the Ka's platform with Fiat (it shares its chassis with the 500), and the Italian automaker builds both cars in Poland. If and when Chrysler and Fiat finish dancing and commit, the Freep reasons that models built on the 500's platform might be built in Chrysler's Toluca, Mexico plant. If so, that could offer Ford the kind of economies-of-scale necessary to sell the thousands of thin-margin Kas to make the venture worthwhile.

If the Ford Fiesta takes off and Ford can keep the Ka's price down - it starts at £7,995 ($12,150 US) in the UK - the case might make itself. Sure, there are a fair number of ifs, mights, and maybes in there, but as a cheap city car for when gas prices doubtlessly skyrocket again, it's certainly worth a thought or two.

Gallery: 2009 Ford Ka

[Source: The Detroit Free Press]

Rumormill: Could the Fiat-Chrysler deal yield a North American Ford Ka? originally appeared on Autoblog on Mon, 11 May 2009 09:58:00 EST. Please see our terms for use of feeds.

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Opel reportedly mulling reviving Wartburg as low-cost brand

Jonathon Ramsey — Mon, 11 May 2009 09:00:00 EST

Filed under: Budget, Plants/Manufacturing, Hatchback, Opel

Despite an uncertain future, Ward's Auto is reporting that Opel is looking at the possibility of starting a new low-cost line under the revived moniker "Wartburg." Made by East German company VEB AEW until 1991, in their most recent guise, Wartburgs were cheap transportation for the Communist set, vying for breadline parking spaces with Trabants and the like. The cheap and cheerless models were assembled in a facility in Eisenach that was within sight of Wartburg castle. When the Soviet-era factory closed, Opel opened up its own factory in Eisenach the following year.

For Opel, a €7,000 Wartburg could create more sales openings for the Corsa and more output for the Eisenach factory where the model is presently made. Still, it is "only one of several options" according to an Opel source, and with General Motors' financial situation, we expect options to be changing daily. If it did occur, a cheaper Corse-based economy model could make sense... but do people really have fond memories of Wartburg?

[Source: Ward's Auto | Source Images: Opel; Wikipedia, Creative Commons 2.0]

Opel reportedly mulling reviving Wartburg as low-cost brand originally appeared on Autoblog on Mon, 11 May 2009 09:00:00 EST. Please see our terms for use of feeds.

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Rendered Speculation: Is this the 2011 Renault Clio?

Jonathon Ramsey — Sun, 26 Apr 2009 13:39:00 EST

Filed under: Budget, Hatchback, Renault, Rendered Speculation

Click above for what could be renderings of the 2011 Renault Clio

Is this the next Renault Clio? A spy shot forum has posted grainy black-and-white renderings of what could be the basis of the 2011 hatchback. While the protruding nostrils raise eyebrows, from the front and rear 3/4-view the car has an engaging line, the Mazda-like upswept creases moving nicely from stem to stern, wavelike. From the side, however, it looks a little stretched out, less like a wave, more like taffy. We'll have to wait and see if these shots have anything to do with the actual Clio, but regardless, there are some interesting elements we wouldn't mind on the real car. You can check out the rest of the renderings and weigh in below.

Gallery: Rendered Speculation - 2011 Renault Clio

[Source: Car Spy Shots]

Rendered Speculation: Is this the 2011 Renault Clio? originally appeared on Autoblog on Sun, 26 Apr 2009 13:39:00 EST. Please see our terms for use of feeds.

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Shanghai 2009: Geely IG Fantastic Concept makes us go "Awwww...."

Jonathon Ramsey — Mon, 20 Apr 2009 19:58:00 EST

Filed under: Concept Cars, Budget, China, Hatchback, Shanghai Motor Show

Geely IG Fantastic Concept - Click above for a high-res image gallery

If a local Chinese automaker wants to challenge the Smart, then they should do it with something like this, the Geely IG Fantastic (and not this, the Shuanghuan Bubble). It's kooky, and the headlights almost meet the taillights, but most importantly it's original. It also looks to be a three-seater with the driver sitting front and center, flanked by two seats behind. And there's only one door, on the passenger's side. Nifty, and we give it three cheers for Geely. Check it out in the gallery of photos below.

Gallery: Shanghai 2009: Geely IG Fantastic Concept

[Source: China Car Times]

Shanghai 2009: Geely IG Fantastic Concept makes us go "Awwww...." originally appeared on Autoblog on Mon, 20 Apr 2009 19:58:00 EST. Please see our terms for use of feeds.

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Rendered Speculation: Yet another next-gen Ford Focus photoshop

Jonathon Ramsey — Sun, 05 Apr 2009 14:01:00 EST

Filed under: Budget, Minivan/Van, Wagon, Crossover, Hatchback, Ford, Rendered Speculation

Ford's design language can be largely distilled to three words: "let it ride." 2005's Iosis Concept created the template for kinetic design, and ever since then Ford has cashed in a number of winning bets on that language. Next up is the 2010 Ford Focus, based on the Iosis Max concept, and all of the speculation so far hints at a fine-looking, capable performer.

Powering the Focus will be a range of EcoBoost engines ranging from an 89 hp 1.0-liter to a 1.6-liter with 197 hp. Look for the Europeans to also get a diesel lineup that that tops out with a 197-horsepower 2.0-liter oil-burner. The available powerplants are expected to be mated with either a manual transmission or a Powershift twin-clutch setup.

The car's handling and refinement will be improved, and options are are expected to include a panoramic glass roof, Ford's Human Machine Interface, and a reversing camera. The next Ford Focus is expected to go on sale later this year in China, then in the U.S. shortly thereafter along with the C-Max compact people mover.

[Source: Auto Express]

Rendered Speculation: Yet another next-gen Ford Focus photoshop originally appeared on Autoblog on Sun, 05 Apr 2009 14:01:00 EST. Please see our terms for use of feeds.

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Honda CEO says Insight price won't be reduced further

Jonathon Ramsey — Fri, 03 Apr 2009 17:30:00 EST

Filed under: Car Buying, Budget, Hybrid, Green, Hatchback, Honda, Toyota

2010 Honda Insight - click above for a high-res gallery

Honda's new Insight went on sale in hits homeland about a week ago, and already it's under attack. Before it hit the market, there were rumors that it would be much cheaper than the Toyota Prius. Toyota, however, has other ideas. The Insight is 1.89 million yen ($18,853 USD) in Japan, which is the same price as the current Prius. Toyota then priced the coming third generation Prius at 2.05 million yen ($20,437 USD) to keep it close to the Insight. Then Toyota said it would keep the second-generation Prius on sale in Japan, and there have been rumors that Toyota is also working on a cheaper Prius costing around 30% less than the current one. That would pit three Prius models against one Insight, all similarly priced.

In response, Honda CEO Takeo Fukui said Honda will not lower the price of the Insight. Said Fukui, "I think that is something we can't do right now. We have to carefully examine the new Prius to know whether it is necessary for us to take certain measures. We have to think about the balance between cost and effectiveness." If Toyota does come out with three Japan-market Priuses, Honda will be thinking long and hard about those issues.

Unlike Toyota, though, Honda does have the CR-Z hybrid coming, which could give Honda some sporting hybrid credentials that Toyota doesn't yet have. Honda also said it is expanding its research and hybrid push into large sedans instead of counting on clean diesels for its bigger cars. Fukui feels that clean diesels are too expensive to develop be practical.

Gallery: ABG First Drive: 2010 Honda Insight

[Source: Automotive News, sub req'd]

Honda CEO says Insight price won't be reduced further originally appeared on Autoblog on Fri, 03 Apr 2009 17:30:00 EST. Please see our terms for use of feeds.

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Daimler's Car2Go program coming to Austin, Texas this fall

Jonathon Ramsey — Thu, 02 Apr 2009 08:28:00 EST

Filed under: Coupe, Budget, Hatchback, Daimler, Smart, Lifestyle

Last October we advised you not to hold your breath for Daimler's Car2Go program to come to America. You can breathe again. If you live in Austin, Texas you'll be able to rent a mild hybrid Smart ForTwo by the minute this fall. Austin was chosen because of its university population and its concern for the environment.

Car2Go makes its fleet available on-demand, with a clear price structure, and you can keep the car as long as you wish. Those in the program access the vehicles by swiping a tag on their driver's licenses over a card reader on the car. As with the pilot program in Ulm, Germany the service will start in Austin with an initial fleet, expected to consist of around 200 Smarts that will be available to city employees first and then expand to public use at the conclusion of a trial period.

Gallery: smart fortwo in Texas and Germany

[Source: Canadian Driver]

Daimler's Car2Go program coming to Austin, Texas this fall originally appeared on Autoblog on Thu, 02 Apr 2009 08:28:00 EST. Please see our terms for use of feeds.

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MINI pondering BMW-engined diesel models, including JCW?

Jonathon Ramsey — Tue, 31 Mar 2009 13:58:00 EST

Filed under: Coupe, Budget, Hatchback, BMW, Mini

Two weeks ago, Auto Express reported that MINI would be creating a John Cooper Works edition diesel with more than 160 horsepower and improved torque. Now, fellow UK publication Autocar looks to have the details, which includes speculation that the extra oomph will come from BMW engines now used in the 1 Series cars - and they might not just be for JCW models.

According to the report, the white coats at BMW inserted a detuned 2.0-liter diesel that is longitudinally mounted in the 120d into the transverse engine bay of the MINI. The result was a MINI diesel with 40 hp more than the Cooper D, which currently uses an engine that BMW developed with PSA Peugeot/Citroen.

Autocar also reports that the twin turbo lump from the 123d can be fitted to the MINI, which could be used to create a diesel JCW. If they don't detune the engine, that would mean a 7 hp drop versus the gas-engined version, but 105 more lb-ft. of twist and better than 40 mpg when the drivetrain isn't being stomped on. Autocar says that BMW has begun testing the new diesels with an eye on retail sales in 12 months.

[Source: Autocar | Photo credit: themullett]

MINI pondering BMW-engined diesel models, including JCW? originally appeared on Autoblog on Tue, 31 Mar 2009 13:58:00 EST. Please see our terms for use of feeds.

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Spy Shots: If this is it, the Mazda1 looks nothing like Kiyora concept

Jonathon Ramsey — Wed, 25 Mar 2009 09:26:00 EST

Filed under: Concept Cars, Frankfurt Motor Show, Spy Photos, Budget, Europe, Green, Paris Motor Show, Hatchback, Mazda

UPDATE: This is not a prototype for the Mazda1, it is a Chinese-market Haima subcompact based on the Mazda2. Thanks to everyone who sent in the correction

When we were told that the Mazda Kiyora concept unveiled at last year's Paris Motor Show would influence Mazda's coming city car, it looks like we overestimated the word "influence." At least, that's the case if the little Mazda caught in Evo's spy shots is actually the Mazda1.

Evo makes a compelling case for the car actually being the Mazda1 - not merely a revised Mazda2. Save for the ascending shoulder line (now moved to shoulder height, way above the rocker panels as on the Kiyora) the prototype has almost nothing in common with the design of the swoopy Paris beastlet. At the very least, we hope this car comes with the concept car's tech, but we won't know for certain until the car's expected launch at September's Frankfurt Auto Show.

[Source: Evo]

Spy Shots: If this is it, the Mazda1 looks nothing like Kiyora concept originally appeared on Autoblog on Wed, 25 Mar 2009 09:26:00 EST. Please see our terms for use of feeds.

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Yep, That'll Fix It: Berlin youths torching Porsches, BMWs over economy

Jonathon Ramsey — Fri, 27 Feb 2009 18:59:00 EST

Filed under: Etc., Europe

French youth like to burn cars on New Year's - and they don't mind lighting a few the rest of the year, either. German youths apparently really get their "arson on" when the economy takes a dip, as it happens to be doing right now. According to Bloomberg, at least 29 luxury vehicles have gone up in flames in Berlin so far this year, instigated by "'youths across Europe who 'perceive their future as rather precarious'."

The torchings in Berlin have been centered on the nicer, gentrified areas of town like Prenzlauer Berg, where some residents feel they are being squeezed out to make room for the moneyed. There is even a group called BMW that is claiming responsibility for some of the fires, but this time the acronym stands for the Movement for Militant Resistance (auf Deutsch, naturlich).

If cars are going up in smoke so quickly right now, perhaps the real question is: What will the disgruntled turn to next when things get worse? The police have created a special unit to investigate the arson, since it's considered a political act, but the advice from a Berlin police commissioner is: "I wouldn't advise someone to park their Porsche on the street." Thanks for the tip, Eric!

[Source: Bloomberg | Image: Tigerhawk]

Yep, That'll Fix It: Berlin youths torching Porsches, BMWs over economy originally appeared on Autoblog on Fri, 27 Feb 2009 18:59:00 EST. Please see our terms for use of feeds.

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Geneva Preview: Caparo-baiting Fioravanti concept draws nigh

Jonathon Ramsey — Fri, 27 Feb 2009 15:26:00 EST

Filed under: Concept Cars, Budget, Geneva Motor Show, Hatchback, Supercars

Fioravanti has made a habit of showing interesting things at the Geneva Motor Show. This year it will reportedly be the LF1, a car built to demonstrate the application of Formula 1 design and build techniques to a production vehicle. Done up like the Caparo T1's open-air cousin, the LF1 doesn't look exactly like a production ca,r but we don't know anything further about it yet... except that we look forward to seeing it.

Fioravanti will also evidently be recycling another one of its Geneva concepts from 2000, the TRIS. A tiny subcompact that is also a display of novel build technologies, the car's two doors and hatch are identical, as are the headlights and taillights.

[Source: Motor Trend]

Geneva Preview: Caparo-baiting Fioravanti concept draws nigh originally appeared on Autoblog on Fri, 27 Feb 2009 15:26:00 EST. Please see our terms for use of feeds.

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Gordon Murray's city car prototype is "weeks away"

Jonathon Ramsey — Wed, 25 Feb 2009 17:57:00 EST

Filed under: Budget, Green, Hatchback

The T25, Gordon Murray's take on revolutionizing urban transport - and perhaps driving itself - the same way he did with supercars with his McLaren F1, is almost ready for center stage. Now that the design and engineering has been completed, T25 prototypes are expected on the roads in a few weeks for the next phase of testing.

The T25 is shorter, narrower, and lighter than even the smart fortwo, yet rumors say that it can carry more weight. Once the platform is proven, Murray plans for it to support a range of vehicle types, from a city car to a pickup truck. And Murray has applied his new thinking to the car's manufacturing as well: his iStream build process eschews large, stamped parts, focusing on "simple base mechanicals" that promote model flexibility and small factory sizes.

[Source: Autocar]

Gordon Murray's city car prototype is "weeks away" originally appeared on Autoblog on Wed, 25 Feb 2009 17:57:00 EST. Please see our terms for use of feeds.

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Geneva Preview: Rinspeed's E2 delivers a Fiat 500 with a split personality

Jonathon Ramsey — Wed, 25 Feb 2009 13:28:00 EST

Filed under: Coupe, Budget, Geneva Motor Show, Green, Hatchback, Fiat

Click above for a high-res gallery of the Rinspeed E2

The mad Wissenschaftlers at Rinspeed have come up with a dual-mode Fiat 500 Abarth that gets you more power and better gas mileage - just not at the same time. Rinspeed started with the 500 Abarth that has a standard 135 horsepower, and they've given it a new engine management system that has one mode for the city and one for the highway.

In "Commuting" mode the has use of up to 60 hp, which is forty fewer horses than the bog standard petrol 500, but you'll be rewarded with almost 59 miles-per-gallon. Press a button on the console to go to "Highway" mode and you get 160 hp, which is the same hp number for the 500 Abarth SS, but it costs you a tad of frugality at 33 mpg. There aren't many ways we could think of to make the 500 better, but this trick could be one of them. You can read the press release after the jump, and check out the high-res gallery below.

Gallery: Rinspeed E2

[Source: Rinspeed]

Continue reading Geneva Preview: Rinspeed's E2 delivers a Fiat 500 with a split personality

Geneva Preview: Rinspeed's E2 delivers a Fiat 500 with a split personality originally appeared on Autoblog on Wed, 25 Feb 2009 13:28:00 EST. Please see our terms for use of feeds.

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Mahindra profits tank 99% amidst currency woes

Chris Tutor — Wed, 04 Feb 2009 18:26:00 EST

Filed under: SUV, India

You think that General Motors and Chrysler are in trouble? Take a look at India's largest SUV-maker, Mahindra. It posted a whopping 99% drop in profits last quarter due to the double blow of a 26% sales dip and a "currency loss."

The lack of interested car buyers is an all-too-familiar theme, but the currency loss is more complicated. In a statement, Mahindra said the loss was due mostly to "cancellation of forward covers entered into by the company to hedge certain anticipated exports." Translation: the company invested in the currency markets to cover any possible losses in its exports. When the rupee fell 19% last year, there was nothing to cover Mahindra's 54% drop in exports. But despite all that, the company actually did manage to make a profit, even if it was only $245,000.

What does this mean to you? Other than being another name on a growing list of carmaker carnage, it could mean an even longer delay for everyone hoping to buy one of Mahindra's trucks in the U.S., not to mention that Mahindra is almost definitely not interested in Hummer now.

[Source: Bloomberg]

Mahindra profits tank 99% amidst currency woes originally appeared on Autoblog on Wed, 04 Feb 2009 18:26:00 EST. Please see our terms for use of feeds.

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Mitsubishi pulls out of Dakar and other cross-country races

Jonathon Ramsey — Wed, 04 Feb 2009 11:28:00 EST

Filed under: Motorsports, Mitsubishi

Mitsubishi joins makers like Honda, Audi, Porsche, Suzuki, Subaru, and Kawasaki in pulling out of some form of motorsports because of... well, do we really need to say it? Neither the Mitsubishi Pajeros that won the Dakar Rally twelve times in total (out of 26 attempts), nor the diesel Racing Lancer that earned a seventh place in this year's race, will be seen plying the sands again any time soon. The Japanese automaker has ended its factory efforts in order to focus on its core business. Having stamped its red rhombus logo all over the Dakar after seven consecutive Dakar victories, its presence will be sorely missed come 2010. Official press release after the jump.

[Source: Mitsubishi]

Continue reading Mitsubishi pulls out of Dakar and other cross-country races

Mitsubishi pulls out of Dakar and other cross-country races originally appeared on Autoblog on Wed, 04 Feb 2009 11:28:00 EST. Please see our terms for use of feeds.

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