Nov20
New Ford M-Sport Fiesta S2000, Lee Noble Launches Fenix Automotive, New Lamborghini M-Sport reveals their new Ford Fiesta S2000 Rally Car, Fenix Automotive -- a new company founded by Lee Noble, looks to be developing their first car. Also, some Lamborghini rumors in the Internet Rumor Mill, and Commenter of the Week. Hosted by Derek DeAngelis.
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Ford Motor Co. plans to invest 2 billion reais ($1.15 billion) in Brazil through 2015, most of it on a plant in the northeastern Bahia state, to expand production and benefit from expected growth in Latin America's largest economy, the state governor said on today. As part of the investment plan, which will be officially unveiled in a ceremony with President Luiz Inacio Lula da Silva later today, Brazil's government will extend state and federal tax breaks to Ford, Bahia state...
Nov19
Porsche puts out another track-car, the 911 GT3 R. Volkswagen has closed a 3-week-long hiring period with great success. Also, the Internet Rumor Mill has a bunch of goodies. Toyota-Subaru's partnership has some more news info on the FT-86 Concept, and could Ferrari be working on a GTO version of the 599GTB? That's all today, plus Shakedown with Leo Parente. Hosted by Derek DeAngelis.
Forecaster J.D. Power & Associates said today that it expected U.S. auto industry sales to increase slightly on an adjusted basis in November from a year earlier due to stable retail sales and growth in fleet sales. U.S. auto sales are expected to grow by 0.4 percent in November when taking into account two fewer selling days this year than last year, J.D. Power said. The seasonally adjusted annualized rate of sales, a key measure for economists, is expected to rise to 10.2 million...
Nov18
Shoppers looking to buy the safest 2010-model cars will have 67 fewer choices this year than they did in 2009. That's because the test for safety ratings got a lot tougher. A new roof-strength requirement aimed at protecting passengers in rollover crashes cut the number of top-rated vehicles to 27 for the 2010 model year, compared with 94 in 2009. The Insurance Institute for Highway Safety added the roof test to the already-rigorous tests it uses to address increasingly specific...
Nov17
Ford Motor Co. stock today reached a new two-year high after disclosures that billionaire investor George Soros' hedge fund bought a 7.3 million-share stake in the automaker. Ford shares briefly hit the $9 mark this morning for the first time since October 2007. Ford shares closed the day at $8.98, up 27 cents or 3.1 percent on heavy volume. According to a regulatory filing on Monday, Soros Fund Management took the 7.3 million stake in Ford during the third quarter. The stake...
Nov16
LeaseTrader.com estimates that more than 50 percent of car lease shoppers today are not qualifying for a tier-1 lease price at a dealer with many turning to the secondary lease swap market for the right deal. Failing to qualify for tier-1 pricing because of a confusing credit threshold can end up costing consumers thousands over the life of a new lease.
General Motors Co. posted a $1.15 billion loss during the third quarter following its exit from bankruptcy and said reduced costs and stabilizing sales would allow it to begin repaying $6.7 billion in U.S. loans. "We have significantly more work to do, but today's results provide evidence of the solid foundation we're building for the new GM," CEO Fritz Henderson said in a statement. The "managerial net loss" was for the period from July 10, the day GM exited court protection, through...
Nov13
Two days after GM Chairman Ed Whitacre said the government should loosen its restrictions on executive pay for bailed-out companies, the White House pay czar signaled his willingness to raise salary caps for new hires. Kenneth Feinberg, the U.S. Treasury's special master for executive pay at the seven firms that have received taxpayer bailouts, last month ordered pay and bonuses cut in half on average for the top 25 earners at the companies. That included executives at General Motors...
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