Sorry, Says Marchionne for Italian-American Slur

Fiat/Chrysler apologizes for jest.

by on May.21, 2013

Fiat/Chrysler CEO Marchionne gets his point across -- but angers some listeners.

Fiat/Chrysler CEO Sergio Marchionne has apologized for using what some took as an offensive term for Italian-Americans during the Detroit Auto Show last January.

Describing his frustrations with the slow effort to return the Alfa Romeo brand to the U.S. market, Marchionne said the new 4C sports car didn’t have the right powertrain yet, adding that, “With all due respect to my American friends, it needs to be a wop engine.”

Stay on Top of the News!

The term was meant to convey the desire to have a distinctly Italian engine for the little Alfa – which ultimately won approval from Marchionne a few weeks later.

Read the rest of this entry »

Tesla Set to Repay $465 Million in Fed Loans

New Stock Offering could raise $1 bil for loan payoff and more products.

by on May.21, 2013

Tesla is raising more than $800 million to pay off $465 million in federal loans early and to bolster the company's development of new products.

His company’s stock surging, Tesla Motors’ CEO expects to use the potentially $1.08 billion windfall from a new stock offering to both pay off the maker’s $465 million in Department of Energy (DoE) loans – and to help fund additional products needed to help the California battery-car maker expand.

CEO Elon Musk, a fan of using tweets to signal his plans, is broadly hinting he will formally announce the payoff of the loans tomorrow. Such a move, coming nine years ahead of schedule, could save Tesla significant interest costs even as taxpayers receive as much as a $12 million profit. That would provide the Obama Administration a rare success in the highly controversial DoE loan program.

Your Trusted Source!

“Given govt loan repayment this week (prob Wed), Supercharger update will be next week,” Musk said in his post.

Read the rest of this entry »

GM Teams up with Stanford Auto Research Center

Goal is to “cultivate creative technology solutions.”

by on May.21, 2013

GM product czar Mary Barra is herself a Stanford grad.

General Motors is teaming up with Stanford University’s Center for Automotive Research in Palo Alto, California – the Detroit maker’s latest step in building up its high-tech research and development capabilities in Silicon Valley.

The announcement comes just days after Mercedes-Benz served as the lead automotive partner at the annual Google I/O developers conference and underscores the increasing emphasis the auto industry is placing on digital technology.

You're in the Know!

GM opened a research center in Palo Alto in 2006. A half dozen other automakers, including Mercedes’ parent Daimler AG, BMW, Volkswagen, Ford Motor Co., Renault/Nissan and Toyota, have established research centers in Silicon Valley, while Tesla Motors is based in Palo Alto and runs an assembly plant in Freemont. Google, which is based in nearby Mountain View, has meanwhile become a force in the auto industry and could play an even bigger role in the future thanks to its push to develop autonomous vehicles.

Mary Barra, GM senior vice president of Global Product Development, says the maker decided to team up with Stanford “to mine the best and brightest ideas and recruit top students studying toward careers in science, technology, engineering and math.”

One of the biggest problems the auto industry – and Detroit makers in particular – has is attracting top high-tech engineers who are often lured to more sexy jobs in the digital industry.

(Mercedes Goes Digital with Help from Google. Click Here for the story.)

“Joining the Center for Automotive Research at Stanford is a natural fit for GM,” Barra said. “In order to create the world’s best vehicles, we make every effort to remain on the cutting edge of automotive development. Our membership in CARS will allow us both to expand and share our knowledge with students, faculty and industry partners as we work together to move the industry forward.”

The Center for Automotive Research at Stanford bills itself as a community of faculty and students from a range of disciplines aimed at discovering, building, and deploying critical ideas and innovations for the next generation of cars and drivers. It provides shared resources for research, teaching, student project teams and new educational initiatives across many research centers, including the law and business schools.

“GM is dedicated to helping develop the next generation of science, technology, engineering and mathematics professionals and advancing the industry,” Barra said. “The Center for Automotive Research at Stanford offers us not only the chance to contribute to the education of future leaders, but also cultivate new and creative vehicle technology solutions.”

Barra is one of several senior GM executives – a list also including Susan Docherty, head of Chevrolet in Europe — to have earned a degree from Stanford, which also is one of GM’s key engineering and business recruitment institutions.

BMW-Toyota Sports Car to Debut in Tokyo

The goal is to “exceed all expectations.”

by on May.21, 2013

Senior officials, including Toyota CEO Akio Toyoda and BMW Chairman Nobert Reithofer, celebrate their expanding alliance.

What do you get when BMW and Toyota set down to develop a sports car? We’re apparently about to find out, their joint effort reportedly set to make its eagerly awaited debut at this year’s Tokyo Motor Show.

The midsize sports car is one of several projects that the German and Japanese automaker have announced as part of a growing alliance first announced in 2011. Among other things, the two makers plan to work on fuel cells, lithium-ion batteries and hybrid technology, while BMW is now providing diesel engines for Toyota to use in its European line-up.

Your Best Ally!

“I get so excited thinking about the cars that will result from this relationship,” Toyota chief Akio Toyoda said in January.

So do a lot of industry observers waiting to find out precisely what the two partners have in store.

Read the rest of this entry »

Three Former Saab Executives Face Fraud Charges

Ex-CEO among those under investigation.

by on May.21, 2013

Former Saab CEO Jan Ake Jonsson.

Three former Saab Automobile AB executives, including one-time CEO Jan Ake Jonsson, have been detained by Swedish authorities and could face charges involving tax and accounting fraud.

The unexpected development comes nearly 18 months after the long-struggling automaker filed for bankruptcy, most of its assets eventually sold to a Japanese-Chinese consortium. A $3 billion lawsuit filed by the Dutch company that purchased Saab from General Motors, meanwhile, has yet to be resolved.

Stay Focused - With a Free Subscription!

Ex-CEO Jonsson is one of three former executives who could face up to four years in prison based on the allegations raised in Vanersborg District Court which covers Saab’s former headquarters in Trollhattan, Sweden.

Read the rest of this entry »

Hyundai’s Krafcik Named “Executive of the Year”

"Superb team" shares credit.

by on May.21, 2013

Hyundai Motor America CEO John Krafcik.

John Krafcik, president and chief executive officer of Hyundai Motor America, has been named “Automotive Executive of The Year” for 2013.

The award for the one-time Ford Motor Co. engineer comes as the Korean carmaker sees a modest – but anticipated — slowdown after several years of record sales growth.

Your Source for News!

“With his superb team, John Krafcik has literally reshaped the way Hyundai approaches the market with consumer focus, compelling design, and enduring value,” said Robert Djurovic, executive director of the Automotive Executive of the Year Award program, and director of Automotive Services North America, DNV. “It’s no surprise that accolades for Hyundai products just keep coming,” Djurovic said.

Read the rest of this entry »

Plug-Based Car Tally Tops 100,000

But milestone still lags expectations.

by on May.20, 2013

The Tesla Model S has helped drive sales of plug-based vehicles in recent months.

While we’re not exactly sure when or where it happened, some green-minded U.S. motorist helped the nascent battery car market reach a critical milestone this past weekend, purchasing the 100,000th plug-based vehicle – or so claims the advocacy group Plug-In America.

“Our current estimate, based on monthly sales figures from automakers, is that the 100,000th highway-capable plug-in vehicle (was) sold on May 20,” said Tom Saxton, Plug In America’s chief science officer. “We are calling this the #PIA100K mark, and we are excited to see the continued growth of the market.”

Powering your Auto Knowledge!

Proponents are hailing the news and noting that it’s been barely three years since the launch of the modern battery-car industry  with the nearly simultaneous debuts of the Chevrolet Volt plug-in hybrid and the Nissan Lead battery-electric vehicles, or BEV.

Read the rest of this entry »

Driverless Cars Drawing Strong Public Interest

Survey shows people trust automated vehicles.

by on May.20, 2013

A recent survey showed 57% of consumers trust driverless cars.

The folks at Google may be onto something with their driverless car project at least if the results of a recent survey hold water.

Fifty-seven percent of people surveyed said they would “be likely to ride in a car controlled entirely by technology that does not require a human driver.” The survey, which was conducted by Cisco System as part of its Customer Experience Report, polled 1,500 people in 10 countries.

The Leader in Global Automotive News

Respondents in Brazil (96%), India (86%) and China (70%) were most likely to trust a driverless car. In the United States, 60% said they would.

Read the rest of this entry »

First Drive: 2014 Chevrolet Silverado 1500

More than first meets the eye.

by on May.20, 2013

The exterior changes to the 2014 Chevrolet Silverado have largely been aimed at improving aerodynamics.

According to some prognosticators, millions of Americans were supposed to be trading in on hybrids, plug-ins and battery cars this year.  The V-8 engine and the full-size pickup were both supposed to be relegated to the automotive scrap heap.

It hasn’t worked out quite as expected.  Battery car sales have barely registered, and though demand for V-8s has certainly fallen, pickups have been rapidly regaining momentum. We’re expecting sales will grow even more substantially in the months ahead as buyers get a look at the new 2014 Chevrolet Silverado 1500.

Keep on Truckin'!

While Chevy’s full-size truck is far from perfect, it is arguably the best pickup General Motors has ever built. The 2014 Silverado does everything you’d expect a truck to do such as pull a trailer, carry a load or traverse rugged trails. But it’s more than just a solid work truck.  The new Chevy Silverado’s cabin is both unexpectedly quiet nicely furnished, while the pickup delivers a firm, poised ride more similar to that of a large, expensive sedan than the classic, rough-riding truck.

Read the rest of this entry »

First Look: Aston Martin CC100 Concept

A retro step into the future for Aston design.

by on May.20, 2013

The retro-futuristic Aston Martin CC100.

About this time of year, car collectors start rolling out their classics at shows as diverse as Detroit’s Woodward Dream Cruise and the tony Pebble Beach Concours d’Elegance. The Aston Martin CC100 would likely look at home at either one – but the retro roadster is an all-new one-off designed to help celebrate the British marque’s centennial – and its 1959 victory at Le Mans.

The rakish Speedster made its formal debut at the 24 Hours of Nurburgring Race which will wrap up later today.  Aston CEO Ulrich Bez took it for a lap before the launch of the endurance race.

Forward Into the Past!

“This car is more, even, than a simple ‘birthday present’ to ourselves,” stressed Bez said in a statement.  “CC100 is the epitome of everything that is great about Aston Martin.  It represents our fantastic sporting heritage, our exceptional design capability, our superb engineering know-how and, above all, our adventurous spirit.”

Read the rest of this entry »