Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[REPORT: Saab dealers 'running out of cars']]>http://www.autoblog.com/2009/11/17/report-saab-dealers-running-out-of-cars/http://www.autoblog.com/2009/11/17/report-saab-dealers-running-out-of-cars/http://www.autoblog.com/2009/11/17/report-saab-dealers-running-out-of-cars/#commentsFiled under: , , ,


2010 Saab 9-5 - Click above for high-res image gallery

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 sale of Saab to Koenigsegg Automotive AB, and the fact that an all-new Saab 9-5 model is still sitting on the horizon. With the transaction still not complete, financial limitations have kept new vehicle production low. In addition, the Swedish assembly plant tasked to build the new 9-5 sedan is in the process of retooling. "When we close the deal and change owners we can start producing again for real as we then will have financing," Eric Geers, a Saab spokesman told Bloomberg.

Even if the deal with Koenigsegg closes as planned, the 2010 Saab 9-5 (the company's first all-new car in seven years) won't hit European showrooms until early next year. U.S. dealers will likely have to wait even longer, starving as the last of their dwindling inventory rolls away.


Gallery: 2010 Saab 9-5


[Source: Bloomberg]

REPORT: Saab dealers 'running out of cars' originally appeared on Autoblog on Tue, 17 Nov 2009 10:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>2010 Saab2010 saab 9-52010Saab2010Saab9-59-5dealer networkDealerNetworkdealersinventorykoenigseggkoenigsegg saabKoenigseggSaabpendingplant closurePlantClosureProductionretoolingSaab 9-5Saab9-5saleSwedishTue, 17 Nov 2009 10:28:00 EST<![CDATA[Koenigsegg reportedly rejects 81 out of 218 U.S. Saab dealers]]>http://www.autoblog.com/2009/11/13/koenigsegg-reportedly-rejects-81-out-of-218-u-s-saab-dealers/http://www.autoblog.com/2009/11/13/koenigsegg-reportedly-rejects-81-out-of-218-u-s-saab-dealers/http://www.autoblog.com/2009/11/13/koenigsegg-reportedly-rejects-81-out-of-218-u-s-saab-dealers/#commentsFiled under: , ,

2010 Saab 9-5 - Click above for high-res image gallery

According to Automotive News, Federal Express letters arrived at 81 of Saab's 218 dealers on Thursday stating that their franchises had not been selected to move forward and become a dealer for the post-sale entity, Saab Cars North America. The package from General Motors said that Swedish supercar maker Koenigsegg, Saab's buyer, had selected only certain stores based on its business plan requiring strong, well-located dealers showing profits and high volume.

All Saab dealers signed termination agreements in June when GM entered bankruptcy. The dealers who received reject letters today will follow the terms of those agreements. Meanwhile, the remaining 137 U.S. Saab dealers will have to wait patiently until the end of November when the sale is scheduled to close (although those close to the deal say it may take longer). Current Saab dealer contracts with GM will not expire until October 2010, at which point the remaining dealers will sign new franchise agreements with Saab Cars North America.


Gallery: 2010 Saab 9-5


[Source: Automotive News, subs. req'd]

Koenigsegg reportedly rejects 81 out of 218 U.S. Saab dealers originally appeared on Autoblog on Fri, 13 Nov 2009 14:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>2010 saab 9-3X2010 saab 9-52010 saab 952010Saab9-3x2010Saab9-52010Saab95BankruptcyDealersGeneral MotorsGeneralMotorsgm saleGmSaleKoenigseggRetailersSaabSaleFri, 13 Nov 2009 14:28:00 EST<![CDATA[REPORT: Saab deal between GM and Koenigsegg finalized]]>http://www.autoblog.com/2009/08/18/report-saab-deal-between-gm-and-koenigsegg-finalized/http://www.autoblog.com/2009/08/18/report-saab-deal-between-gm-and-koenigsegg-finalized/http://www.autoblog.com/2009/08/18/report-saab-deal-between-gm-and-koenigsegg-finalized/#commentsFiled under: , , , , ,


2010 Saab 9-5 - Click above for high-res image gallery

The deal has been signed, but the cash still hasn't changed hands. In a nutshell, that's where the share transfer agreement between GM and Swedish manufacturer Koenigsegg sits. Those close to the deal say the two companies have agreed on a very low price for Saab, but the exact figures are still undisclosed.

One towering hurdle in front of the deal is financing - the consortium, led by Koenigsegg Group, has yet to completely lock down funding as it is waiting on a hefty 4.3 billion kronor (about $593 million) loan from the European Investment Bank. The money won't be cleared unless the Swedish government secures it. Needless to say, there are countless other smaller hurdles (including word of investors backing out) that need to be knocked over before the deal is sealed. As of now, GM expects Saab to exit bankruptcy reorganization "shortly" and will share technology and services with Koenigsegg for a "defined time period" that has yet to be disclosed but should last at least a generation cycle as a number of new models that were developed by GM, including a redesigned 9-5 (above), are just about to launch.


Gallery: 2010 Saab 9-5 Leaked Again


[Source: Swedish Wire, General Motors]

Continue reading REPORT: Saab deal between GM and Koenigsegg finalized

REPORT: Saab deal between GM and Koenigsegg finalized originally appeared on Autoblog on Tue, 18 Aug 2009 09:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bankruptcyDealForced saleForcedSaleGeneral MotorsGeneralMotorsKoenigseggSaabSaleSwedenTue, 18 Aug 2009 09:29:00 EST<![CDATA[REPORT: GM to announce tentative sale of Hummer tomorrow]]>http://www.autoblog.com/2009/06/01/report-gm-to-announce-tentative-sale-of-hummer-tomorrow/http://www.autoblog.com/2009/06/01/report-gm-to-announce-tentative-sale-of-hummer-tomorrow/http://www.autoblog.com/2009/06/01/report-gm-to-announce-tentative-sale-of-hummer-tomorrow/#commentsFiled under: , ,



According to a report by the Wall Street Journal, General Motors plans to announce a tentative sale of the Hummer brand less than a day after filing for Chapter 11 bankruptcy protection. Although GM won't release the name of Hummer's (possible) future owner(s) on Tuesday, the WSJ's sources say that a deal could be struck by the end of the third quarter and the H2 and H3 will continue to be produced at GM's plants in Indiana and Louisiana.

It's been widely accepted that if GM couldn't offload Hummer this month, it would be killed during the bankruptcy proceedings, and the General has been entertaining bids from a interest parties, including a Chinese firm, for somewhere in the sub-$500 million range since late last year. When the announcement is made tomorrow, expect GM to be hyping the sale as part of its turnaround efforts and that the SUV purveyor's new parent will continue to work on expanding the Hummer line, including the production of future alternative-fuel models.

[Source: Wall Street Journal]

REPORT: GM to announce tentative sale of Hummer tomorrow originally appeared on Autoblog on Mon, 01 Jun 2009 20:28:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>general motorsGeneralMotorsgmhummersaleMon, 01 Jun 2009 20:28:00 EST<![CDATA[REPORT: BMW warns employees of looming pay cuts]]>http://www.autoblog.com/2009/03/19/report-bmw-warns-employees-of-looming-pay-cuts/http://www.autoblog.com/2009/03/19/report-bmw-warns-employees-of-looming-pay-cuts/http://www.autoblog.com/2009/03/19/report-bmw-warns-employees-of-looming-pay-cuts/#commentsFiled under: , , ,



With 58,000 fewer new vehicles sold in 2008 and a net profit nearly 90 percent lower than it was in 2007, The Independent is reporting that BMW is cutting its board member bonuses by 40 percent. In addition, the balance of its 100,000 employees are facing pay cuts. The sales slowdown will also take a bite out of salaries at all levels, as chief executive officer Dr. Norbert Reithofer, explains:
A profit-sharing program for our board members, executives and all employees is an important element of our compensation system. We apply this system in good times as well as in challenging times. I am convinced that our employees understand the difficulty of the current situation and are willing to accept this hardship.
Although sales and profits have taken a beating (and BMW is clearly not alone), Reithofer is quick to reiterate that BMW is solvent and determined to remain independent... regardless of any rumors.

[Source: The Independent]

REPORT: BMW warns employees of looming pay cuts originally appeared on Autoblog on Thu, 19 Mar 2009 16:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BMWbonusesDr. Norbert ReithoferDr.NorbertReithoferfiringsindependentlayoffSaleThu, 19 Mar 2009 16:28:00 EST<![CDATA[Saab head says five possible buyers identified]]>http://www.autoblog.com/2009/03/04/saab-head-says-automaker-has-five-possible-bidders/http://www.autoblog.com/2009/03/04/saab-head-says-automaker-has-five-possible-bidders/http://www.autoblog.com/2009/03/04/saab-head-says-automaker-has-five-possible-bidders/#commentsFiled under: , , ,



Two months. That's how long the world will have to wait for Saab to identify its new owner, according to Managing Director Jan-Ake Jonsson. Although he didn't specifically mention candidates, Jonsson told Automotive News Europe that, "There are about five we want to talk to. There are a couple more we are also looking into." Possible suitors include China's Geely Automotive and Dongfeng Motor Company, although there has been no official word from either. Private equity firms and representatives of retired Swedish workers have also expressed interest. Sweden's government, with an obvious stake in the company's future, has reportedly considered loan guarantees to the right successor.

General Motors said it will end ownership of the brand on January 1, 2010. GM bought 50% of the company in 1990 for about $700 million, and paid another $125 million for the balance in 2000. With sales down 35% in 2008 (and a loss of $340 million during the period), Saab's market price is expected to be a basement bargain.

[Source: Automotive News, subs. req'd | Photo by FABRICE COFFRINI/AFP/Getty]

Saab head says five possible buyers identified originally appeared on Autoblog on Wed, 04 Mar 2009 18:22:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>DongfengGeelyGeneral MotorsGeneralMotorsJan-Ake JonssonJan-akeJonssonSaabSaab GMSaabGmSaleWed, 04 Mar 2009 18:22:00 EST<![CDATA[GM offering buyouts and bonuses to HUMMER dealers]]>http://www.autoblog.com/2008/07/28/gm-offering-buyouts-and-bonuses-to-hummer-dealers/http://www.autoblog.com/2008/07/28/gm-offering-buyouts-and-bonuses-to-hummer-dealers/http://www.autoblog.com/2008/07/28/gm-offering-buyouts-and-bonuses-to-hummer-dealers/#commentsFiled under: , , ,


Click on the above image for our 2009 Hummer H3T high-res gallery

Taking heed of lessons learned when it shed the Oldsmobile brand, General Motors is quietly negotiating with HUMMER dealers to prevent lawsuits if the brand is sold or extinguished. Even though confidentiality agreements have been signed, HUMMER dealers are reporting heavy discussions with GM to buy back stores and compensate owners. GM has even paid second- and third-quarter bonuses (averaging six figures) in advance. June delivered gloom to HUMMER as the brand's sales fell 59.3 percent (to just 2,072 units) as near $5-per-gallon fuel prices began flowing through pumps. If that weren't bad enough, the rugged off-road brand was hit with another mass exodus of sales on GM's announcement that HUMMER might be sold. With sales falling, experienced dealership staff leaving, and fuel prices still up in the air, GM's Jeep-fighting brand has literally fallen off the road.

[Source: Automotive News, subs. req'd, Photo by Scott Olson/Getty]

GM offering buyouts and bonuses to HUMMER dealers originally appeared on Autoblog on Mon, 28 Jul 2008 11:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bonusesbuy outBuyOutdealersHummerOut of businessOutOfBusinessretailersSaleSoldMon, 28 Jul 2008 11:28:00 EST<![CDATA[J.D. Power lowers U.S. sales forecast... again]]>http://www.autoblog.com/2008/07/25/j-d-power-lowers-u-s-sales-forecast-again/http://www.autoblog.com/2008/07/25/j-d-power-lowers-u-s-sales-forecast-again/http://www.autoblog.com/2008/07/25/j-d-power-lowers-u-s-sales-forecast-again/#commentsFiled under: ,

J.D. Power and Associates have lowered their U.S. sales light-vehicle forecast for 2008 to just 14.2 million units. This is the third time the global information services company have updated their numbers. In March, they announced that sales would not hit their initial 15.7 million estimate, instead they would come in at about 14.95 million units. Now, the company is estimating sales at 14.2 million units (the industry sold 16.2 million units in 2007). J.D. Power is citing the prolonged credit crisis, deteriorating economic conditions, and the high cost of fuel as reasons consumers are holding off on purchasing new vehicles. Not helping the matter, fleet sales (a common way for the automakers to boost sales in the past) are also down 21 percent from last year.

[Source: Automotive News, subs. req'd]

J.D. Power lowers U.S. sales forecast... again originally appeared on Autoblog on Fri, 25 Jul 2008 08:02:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>DeclineForecastinventoryJ.D. PowerJ.d.Powerjd powerjd power and associa...jd powersJdPowerJdPowerAndAssocia...JdPowersNumbersSaleFri, 25 Jul 2008 08:02:00 EST<![CDATA[Hyundai offers scorching deal on Genesis leases]]>http://www.autoblog.com/2008/07/14/hyundai-offers-scorching-deal-on-genesis-leases/http://www.autoblog.com/2008/07/14/hyundai-offers-scorching-deal-on-genesis-leases/http://www.autoblog.com/2008/07/14/hyundai-offers-scorching-deal-on-genesis-leases/#commentsFiled under: ,


Click on the image above for our high-res Hyundai Genesis gallery

To lure buyers towards the all-new 2009 Hyundai Genesis luxury sedan, the Korean automaker is aggressively pricing lease programs. Traditional Hyundai customers choose to lease about 10-12 percent of the time. The Genesis, however, is aimed at a more upscale buyer -- a segment that tends to lease more often (according to Hyundai's estimates, 50 percent of the Genesis customers will lease the new sedan). To drive sales, the standard six-cylinder model, with a base price of about $33,000, will lease for $399/month (24-month lease with $2,199 due at signing). It's a deal that undercuts the Cadillac CTS by nearly $150/month, according to a retailer who sells both. With 80 percent of customers expected to choose the V6 model (we would too), the lease program is bold enough to drive traffic. In case you were wondering, the V8 model won't be in showrooms for another month, and by that time the lease program will have expired.

[Source: Automotive News, subs. req'd]

Hyundai offers scorching deal on Genesis leases originally appeared on Autoblog on Mon, 14 Jul 2008 10:25:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>DealGenesisHyundai GenesisHyundaiGenesisLeaseLease programLeaseProgramOfferRetailerSaleShowroomMon, 14 Jul 2008 10:25:00 EST<![CDATA[Volvo's suitor of the week: China's Chery]]>http://www.autoblog.com/2008/07/08/volvos-suitor-of-the-week-chinas-chery/http://www.autoblog.com/2008/07/08/volvos-suitor-of-the-week-chinas-chery/http://www.autoblog.com/2008/07/08/volvos-suitor-of-the-week-chinas-chery/#commentsFiled under: , ,

Following up on our report last month about Volvo possibly going to the Chinese, state media is now reporting that Chery Automobile, one of the largest independent and fastest growing Chinese auto manufacturers, has its eyes on the Swedish automaker. Although officials at Chery rule out the possibility of buying Volvo, other sources have stated that the Chinese automaker has already negotiated funding for a possible acquisition. If so, that funding will be significant-insiders put Volvo's value at 30 billion yuan (about $4.4 billion dollars). This isn't the first time that Ford has been rumored to be cashing-out on Volvo... however, it was just two months ago that Ford officials reiterated that Volvo was not for sale. We wouldn't bet our yuan on it.

[Source: Automotive News, subs. req'd]

Volvo's suitor of the week: China's Chery originally appeared on Autoblog on Tue, 08 Jul 2008 09:02:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>CheryChery Automotive GroupCheryAutomotiveGroupChinaChineseFord selling VolvoFordSellingVolvoSaleSuitorVolvoTue, 08 Jul 2008 09:02:00 EST<![CDATA[Chrysler selling Pacifica Design Studio to Mercedes-Benz]]>http://www.autoblog.com/2008/05/20/chrysler-selling-pacifica-design-studio-to-mercedes-benz/http://www.autoblog.com/2008/05/20/chrysler-selling-pacifica-design-studio-to-mercedes-benz/http://www.autoblog.com/2008/05/20/chrysler-selling-pacifica-design-studio-to-mercedes-benz/#commentsFiled under: , ,

The Chrysler Pacifica Advance Design Center, first opened in 1983, is credited with penning the Plymouth Prowler concept (pictured above), Dodge Challenger concept, Jeep Compass, and Dodge Intrepid concepts. Unfortunately, the Design Center closed earlier this year as Chrysler streamlined operations. Now, Mercedes-Benz will bring it back to life as they move their design studio from its current 13,000 square foot location in Irvine, to the larger 35,000 square foot former Chrysler location in Carlsbad, California. While both parties have confirmed the pending sale, terms and move-in dates have not been released.

[Source: AutoWeek]

Chrysler selling Pacifica Design Studio to Mercedes-Benz originally appeared on Autoblog on Tue, 20 May 2008 15:02:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ChryslerConceptDodge Challenger ConceptDodge InterpidDodgeChallengerConceptDodgeInterpidJeep CompassJeepCompassMercedes-BenzPacifica Advance Design CenterPacificaAdvanceDesignCenterPlymouth ProwlerPlymouthProwlerSaleTue, 20 May 2008 15:02:00 EST<![CDATA[Brits preorder 700 Nissan GT-Rs in 48 hours]]>http://www.autoblog.com/2008/04/08/brits-preorder-700-nissan-gt-rs-in-48-hours/http://www.autoblog.com/2008/04/08/brits-preorder-700-nissan-gt-rs-in-48-hours/http://www.autoblog.com/2008/04/08/brits-preorder-700-nissan-gt-rs-in-48-hours/#commentsFiled under: , , ,


Click on image above for a high-res gallery from our GT-R First Drive!

Nearly 700 Brits plunked down pre-order deposits of £3,500 (about $7,000) within the first 48 hours of Nissan's hot GT-R going on sale, proving demand for the latest Japanese supercar doesn't seem to be diminishing. Customers in the UK don't seem to be deterred by the GT-R's base sales price of £52,900 (about $105,000), or the fact they won't see delivery until March 2009. After our "First Drive" in the GT-R, you won't see us ridiculing frenzied buyers...

Gallery: First Drive: 2009 Nissan GT-R

[Source: Nissan UK]

Continue reading Brits preorder 700 Nissan GT-Rs in 48 hours

Brits preorder 700 Nissan GT-Rs in 48 hours originally appeared on Autoblog on Tue, 08 Apr 2008 07:05:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>depositgalleryGT-RNissannissan gt-rNissanGt-rORderPreorderPriceSaleTue, 08 Apr 2008 07:05:00 EST<![CDATA[Tata to (finally) announce Jaguar, Land Rover purchase March 5 or 6]]>http://www.autoblog.com/2008/02/26/tata-to-announce-jaguar-land-rover-purc/http://www.autoblog.com/2008/02/26/tata-to-announce-jaguar-land-rover-purc/http://www.autoblog.com/2008/02/26/tata-to-announce-jaguar-land-rover-purc/#commentsFiled under: , , , , ,

In what looks to be a merciful end to the world's longest foregone conclusion, Tata Motors will reportedly announce its purchase of Jaguar and Land Rover on either March 5 or 6. The announcement is expected after the first press day of the 2008 Geneva Motor Show, so as not to steal the limelight from Ford's new model and concept introductions. The press conference comes just in time for the first XF sedans to go on sale in the U.S. and Europe, so Ford's hard work and investment on the newest cat will benefit the brand's new owners. Tata is also expected to continue to utilize Ford powerplants in its new acquisitions, which will keep the Bridgend and Dagenham engine plants busy.

We'd thought the previous sale of Aston Martin had been drawn out, but the Jaguar and Land Rover clearance sale has lasted over a year, with talks of a Jaguar sale dating back to the '90s. Now, after a year of wondering what would happen to Ford's two British marques, we can move on to the next thing. You know, like whether Tata's going to turn around and quickly unload Jaguar.

[Source: Automotive News, sub. req'd]

Tata to (finally) announce Jaguar, Land Rover purchase March 5 or 6 originally appeared on Autoblog on Tue, 26 Feb 2008 14:33:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BritishFordJaguarLand RoverLandRoverSaleTata MotorsTataMotorsUKTue, 26 Feb 2008 14:33:00 EST<![CDATA[Another Malaysian automaker interested in buying Lotus?]]>http://www.autoblog.com/2007/12/31/another-malaysian-automaker-interested-in-buying-lotus/http://www.autoblog.com/2007/12/31/another-malaysian-automaker-interested-in-buying-lotus/http://www.autoblog.com/2007/12/31/another-malaysian-automaker-interested-in-buying-lotus/#commentsFiled under: ,



According to a report by Reuters, a Malaysian company has approached Proton Holdings and asked if the automaker would be willing to part with its controlling stake in Lotus. The unnamed company is interested in purchasing the 63.75-percent of shares of the British automaker and automotive consultancy firm that Proton purchased back in 1996.

It's certainly not coincidental that this offer came in a few weeks after Proton and Volkswagen ended talks about a possible alliance, causing Proton's stock to drop by some 18-percent. Although the financial windfall gained by Proton may be beneficial in the short-term, the Malaysian automaker is dependent on Lotus' technological innovations for future products. We doubt anything will come of it, but we're curious as to what company made the offer and how it would benefit from the purchase.

[Source: Reuters, InsideLine]

Another Malaysian automaker interested in buying Lotus? originally appeared on Autoblog on Mon, 31 Dec 2007 14:24:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>lotusmalaysian companyMalaysianCompanyprotonsalevolkswagenvwMon, 31 Dec 2007 14:24:00 EST<![CDATA[Now-famous Schumacher taxi for sale]]>http://www.autoblog.com/2007/12/18/now-famous-schumacher-taxi-for-sale/http://www.autoblog.com/2007/12/18/now-famous-schumacher-taxi-for-sale/http://www.autoblog.com/2007/12/18/now-famous-schumacher-taxi-for-sale/#commentsFiled under: , ,

We just can't get enough of this saga. First, Michael Schumacher, family in tow, commandeers a taxi to get to the airport. Then the local police decide to launch an investigation into the purported violation of Germany's Personnel Transport Act. Now the cab driver, a hundred euros richer thanks to the champ's generosity, has said that he's considering selling the now-famous taxicab which Schumacher drove in the incident.

The taxi is a nine-seater Opel Vivaro minivan, and according to the driver, he's already been inundated with calls from potential buyers interesting in acquiring the cab. The top offer at the time of printing the story in the German newspaper Bild am Sonntag was 63,000 euros.

"I need the money - because of the Schumi-Ride I could be in big trouble with the police," said Tuncer Yilmaz, the owner and driver of the taxi.

[Source: F1-Live]

Now-famous Schumacher taxi for sale originally appeared on Autoblog on Tue, 18 Dec 2007 07:56:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>cabgermanymichaelopelsaleschumachertaxivivaroTue, 18 Dec 2007 07:56:00 EST<![CDATA[France family will not sell NASCAR]]>http://www.autoblog.com/2007/11/28/france-family-will-not-sell-nascar/http://www.autoblog.com/2007/11/28/france-family-will-not-sell-nascar/http://www.autoblog.com/2007/11/28/france-family-will-not-sell-nascar/#commentsFiled under: , ,



Nothing is better at propagating a rumor like a nasty social disease than the internet, and the France family just got a lesson. A report surfaced in Europe that an investment firm based there was investigating the potential purchase of NASCAR. Brian France, chairman of NASCAR, dismissed the report as speculation. According to France, the death of his father, Bill France Jr. most likely kicked off the baseless chatter. The current scoop is that the France family is not stepping down from the top of NASCAR or International Speedway Corporation, another France enterprise. While rising energy prices have taken a bite out of profits, and will likely affect attendance attendance somewhat, France assures that NASCAR will be "just fine."

A couple of other items help fuel the speculation, too. International Speedway endured a couple of abortive efforts in Washington state and New York to add new tracks to its holdings, but the long term plan is indeed for new venues when the right ones present themselves. Television ratings are also down, but that doesn't affect NASCAR so much as whacking the price that can be charged for ad space during television coverage of NASCAR events. So, while it might have been fun to kick the ball around thinking of NASCAR without the Frances - not this time.

[Source: Auto News - Sub Req Photo: NASCAR.com]

France family will not sell NASCAR originally appeared on Autoblog on Wed, 28 Nov 2007 09:03:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>brian franceBrianFrancefor saleForSalefranceinternational speedwayInternationalSpeedwayiscmotorsportsnascarracingsaleWed, 28 Nov 2007 09:03:00 EST<![CDATA[Mahindra & Jaguar? Not this time, one Indian bidder drops out]]>http://www.autoblog.com/2007/09/14/mahindra-and-jaguar-not-this-time-one-indian-bidder-drops-out/http://www.autoblog.com/2007/09/14/mahindra-and-jaguar-not-this-time-one-indian-bidder-drops-out/http://www.autoblog.com/2007/09/14/mahindra-and-jaguar-not-this-time-one-indian-bidder-drops-out/#commentsFiled under: , ,

At least one of the bidders in the race to buy Jaguar and Land Rover has dropped out of the competition. Indian manufacturer Mahindra & Mahindra apparently couldn't get the guarantees they wanted regarding powertrain supplies. With new limits on CO2 emissions expected to be enacted in the EU beginning in 2012, the ability of both brands to meet the standards with their larger vehicles poses a problem, as well.

The emissions issue may also be playing a part in Ford's decision to unload the companies and not keep any stake at all in them. Mahindra was really only interested in Land Rover, but Ford wants to sell the two companies as a package deal. Mahindra's Indian competitor Tata is still in the running and has lined up a technical support deal with Fiat if the sale goes through.

[Source: Automotive News - sub. req'd]

Mahindra & Jaguar? Not this time, one Indian bidder drops out originally appeared on Autoblog on Fri, 14 Sep 2007 15:54:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>indiajaguarland roverLandRovermahindrapurchasesaletataFri, 14 Sep 2007 15:54:00 EST<![CDATA[Mixed message: JD Power now reports hybrids will have record year]]>http://www.autoblog.com/2007/08/02/mixed-message-jd-power-now-reports-hybrids-will-have-record-yea/http://www.autoblog.com/2007/08/02/mixed-message-jd-power-now-reports-hybrids-will-have-record-yea/http://www.autoblog.com/2007/08/02/mixed-message-jd-power-now-reports-hybrids-will-have-record-yea/#commentsFiled under: , ,

A couple weeks ago, J.D. Power released its Alternative Powertrain Study, which found that hybrid consideration among new car buyers is slipping, while interest in diesels is growing. Today J.D. Power released its 2007 U.S. Hybrid Vehicle Forecast Second Quarter Update, which projects that hybrid sales for 2007 will increase up to 35% this year. Last year, 256,000 hybrids were sold in the U.S., while the report released today indicates that up to 345,000 may be sold by the end of 2007. That would give hybrids a 2.3% share of the total market in the U.S. Sure doesn't sound like interest is slipping to us.

And that number is only likely to grow as more hybrids enter the market like the Ford Fusion Hybrid, Chevy Malibu Hybrid, GM's stable of Two-Mode Hybrid SUVs and like models from Dodge and Chrysler. Toyota itself pledges to have a hybrid option for all of its vehicles by 2020.

Nevertheless, hybrids have become an increasingly tough sell based only on their green merits, as new procedures to estimate EPA mileage have driven down their city and highway mileage estimates to more realistic levels. Also consider a report from the National Renewable Energy Laboratory that claims in the eight years that hybrids have been on the market in the U.S., they've saved 230 million gallons of fuel. Considering that we use about 385 million gallons of dead dino juice a day in the U.S., that means hybrids have saved us a total of 14 hours of fuel use in 8 years.

[Source: J.D. Power, AutoblogGreen]

Mixed message: JD Power now reports hybrids will have record year originally appeared on Autoblog on Thu, 02 Aug 2007 16:57:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>2007estimatehybridhybridssalesalesThu, 02 Aug 2007 16:57:00 EST<![CDATA[A Swedish solution for taking Volvo off Ford's hands]]>http://www.autoblog.com/2007/08/02/a-swedish-solution-for-taking-volvo-off-fords-hands/http://www.autoblog.com/2007/08/02/a-swedish-solution-for-taking-volvo-off-fords-hands/http://www.autoblog.com/2007/08/02/a-swedish-solution-for-taking-volvo-off-fords-hands/#commentsFiled under: , ,

Ford: "Volvo's not for sale."

BMW: "You sure?"

Ford: "Volvo's not for sale."

Cerberus: "You sure?"

Ford: "Volvos' not for sale."

And so it goes. Another week, another rumor of a possible Volvo suitor. Ford's staked a lot of their future on Volvo technology, so it's understandable that of all the PAG brands, Volvo is the one that Ford's the most reluctant to sell. With whisperings flying as thick as 17-year cicadas, a Volvo insider has intimated that the brand's Swedish management would like to see Swedish owners return were a sale to occur. The Swedes are extremely proud of Volvo, even now there's a 3rd party set up after the sale to Ford with the sole purpose of looking after the name. Ready and willing to take up the reins, a consortium of Swedish investors, inventively named Investor AB, has already collected over half the estimated value of Volvo, and they're itching to get their brand back. Ford would retain a percentage, and the difference between what's already in hand and what Ford might ask would be raised on the Swedish stock exchange. In light of Ford's recent Q2 profit, Dearborn may just hold on to Volvo for now. The next time they're feeling the pinch, Ford would do well to remember that Volvo is the most salable piece of PAG, one that would actually bring a a decent price. We doubt they need reminding.

[Source: Motor Authority]

A Swedish solution for taking Volvo off Ford's hands originally appeared on Autoblog on Thu, 02 Aug 2007 07:55:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>investorpagsaleswedishvolvowallenbergThu, 02 Aug 2007 07:55:00 EST<![CDATA[RE: buhbye - Zetsche bids farewell to Chrysler employees via e-mail]]>http://www.autoblog.com/2007/07/28/re-buhbye-zetsche-bids-farewell-to-chrysler-employees-via-e-m/http://www.autoblog.com/2007/07/28/re-buhbye-zetsche-bids-farewell-to-chrysler-employees-via-e-m/http://www.autoblog.com/2007/07/28/re-buhbye-zetsche-bids-farewell-to-chrysler-employees-via-e-m/#commentsFiled under: , , ,



Looking to exit, stage left on a melodious note, Doc Zee has bid the Chrysler team a semi-farewell via email. The message was a polite "thank you," instead of the possibly more appropriate "thanks for letting us swoop in from Stuttgart, blast through your cash and let your product line languish." Dieter Zetsche and Tom LaSorda dashed off the e-mail to all Daimler and Chrysler workers this morning. The sale of the Chrysler unit to Cerberus Capital Management is wrapping up, and the executives extended thanks to employees for all the hard work they've performed over the past nine years. While they are splitting, the rhetoric in the e-mail indicates that there will be some intertwining of the two businesses going forward.

Collaboration will continue on electrical components (we hope Chrysler can teach Mercedes a thing or two about making reliable electrics), platform architectures for unitized SUVs and power units. Those collaborations were likely far underway when the schism occurred, and both companies will benefit from the cross pollination. We bet Dieter can bang out a convincing "Free BIrd" on that axe.

[Source Detroit Free Press]

RE: buhbye - Zetsche bids farewell to Chrysler employees via e-mail originally appeared on Autoblog on Sat, 28 Jul 2007 08:08:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>cerberuschryslerdaimlerdieterdoctor zDoctorZdr zDrZemailfarewellmercedesmergermessagesalezetscheSat, 28 Jul 2007 08:08:00 EST