2011 Focus RS500 already sold out!

David Walker, LeaseTrader.com — Tue, 06 Apr 2010 22:00:59 GMT

Well, that didn't take long, did it? We knew the new 2011 Ford Focus RS500 would move fast, but not quite this fast. Powered by a 2.5-liter five-cylinder that produces 345 horsepower and 339 pound-feet of torque, Ford's hottest hatch one-ups even the already bonkers Focus RS with its piddly 305 horsepower and 325 lb-ft. Considering that the RS is capable of a 0-62 mile per hour sprint of under six seconds and a top speed of 163 mph, the RS500 should clock in around 5.6 seconds.

What we didn't expect was the fact that the RS500 would sell so quickly. With their matte black paint, 19-inch wheels and all that performance on tap, we certainly expected them to be a hot commodity, but if Autocar is to be believed, the whole run of 500 units has already sold out – some 12 hours after the reveal. Sales will be spread out over 20 European markets, with the UK getting 101 units, Germany getting 55 cars, France receiving 50 and Belgium scoring 50 units, with Denmark, the Czech Republic and Greece getting five units each, while Ireland receives three.

The best part of the story is the fact that all 500 units are already spoken for, even before prices have been announced. Ford is said to be sorting through the letters of intent from customers to figure out dealer allocations. And don't forget, the order books don't formally open until May. With the regular RS trading above sticker on the used car market, we're guessing there will be more than a few flippers in the initial owner group.

Source: [ Autoblog.com ]

GM to close Hummer brand for good, Final

David Walker, LeaseTrader.com — Tue, 06 Apr 2010 20:43:53 GMT

GM to close Hummer brand for good, Final

DETROIT -- General Motors Co. is shutting down its Hummer SUV brand for good, taking the last of its four discarded U.S. brands off the market.

GM had said it would consider offers to buy Hummer after a deal to sell the brand to Sichuan Tengzhong Heavy Industrial Machinery failed to receive Chinese government approval in February. Now GM has decided to move forward with closing the brand, Hummer spokesman Nick Richards said.

With the brand shutting down, Hummer CEO Jim Taylor has retired, effective immediately, Richards said.

Jim Bunnell, GM's general director of network support, broke the news to Hummer dealers on a conference call this morning, Richards said. Bunnell said GM had not found any viable buyer, according to dealers who listened to the call. Hummer has 153 U.S. stores.

GM put Hummer up for sale a year before its June bankruptcy. It has sold Saab and is shutting down Pontiac and Saturn as part of its U.S.-steered rescue.

“This is for real,” Texas dealer Will Churchill said. “I cried big crocodile tears.”

To clear out the remaining 2,200 new Hummers still in stock, Richards said Hummer will run incentives through the end of April. Consumers can get 0 percent financing for 72 months or choose consumer cash. GM is offering $4,000 off 2010 H3s and H3Ts, $5,000 off 2009 H3Ts and $6,000 on 2009 H2s or H3s.

In the next couple of days, Hummer will run ads in 20 key markets promoting the discounts. “Last chance to buy a Hummer,” Churchill said.

Hummer 153 U.S. dealers had already signed wind-down agreements that give them some cash, and those now go into effect, Richards said.

Some dealers had been delaying the start of life without Hummer until they heard the final verdict from GM. Churchill said he'll focus on his Cadillac and Honda franchises, servicing Hummer customers through Cadillac. Texas dealer Carl Sewell said he's exploring all options for getting new franchises for his two stand-alone Hummer stores.

“We're not quite there yet. We're chasing,” Sewell said.

GM put Hummer up for sale a year before its June bankruptcy. It has sold Saab and is shutting down Pontiac and Saturn as part of its U.S.-steered rescue.

SOURCE: [ Automotive News ]