Wednesday, January 25, 2012

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Bailout Execs Criticized for Receiving Big Salaries, Some Claimed they Couldn't Survive with $500k…

Posted: 24 Jan 2012 06:51 PM PST


On Tuesday, the Office of the Special Inspector General charged with auditing the government's Troubled Asset Relief Program (TARP), which bailed out among others General Motor and the Chrysler Group, came out with a report criticizing the U.S. government for failing to implement salary caps.

To brief you up, back in 2008, the U.S. government used US$700 billion under Tarp to bailout more than 700 institutions from which seven companies stood out due to the amount of money they received and the nature of their bailouts.

The seven companies that received so-called "exceptional assistance" were General Motors, the Chrysler Group, Ally Financial (formerly GMAC, Inc.), AIG, Bank of America, Chrysler Financial Services and Citigroup.

Although using taxpayers' money to bailout privately owned institutions was an issue debated for a long time, as it turns out, saving those companies and thousands of American jobs was not the only issue on hand.

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SPIED: New Audi RS6 Avant Prototype Shows up in Sweden

Posted: 24 Jan 2012 04:50 PM PST


Like its BMW M5 compatriot, the RS6 Avant was one of those cars that allowed you to have a mid-life crisis without upsetting the family as it offered supercar-crushing levels of performance in a surprisingly practical estate package.

In its previous iteration, it sported a 5.0-litre bi-turbocharged V10 capable of delivering a maximum output of 580HP and peak torque of 650 Nm (479.42 lb-ft).

The introduction of the new generation A6 Avant last year meant that there was a good chance we'd see the rebirth of the RS6. And true enough, our spy shooters captured a prototype model conducting winter tests in Sweden.

But what makes us believe that this is indeed an RS6 Avant prototype? For starters, Audi has already presented all versions of the A6 Avant including the V8-powered S6. Then there's the flared wheel arches that are a signature trait of the RS series. In addition, the test car also featured a modified front bumper and massive brake discs.

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PG Elektrus is a $312k Pure Electric Lotus Elise with a Carbon-Fiber Body

Posted: 24 Jan 2012 03:38 PM PST


Production of the Tesla Roadster may have ended but the pure-electric roadster model from Silicon Valley showed the way to other companies – and we mean that in the literal sense, as the PG Elektrus is an all too similar proposal.

Created by German manufacturer PG and Düsseldorf-based automobile designer Michael Fröhlich, the roadster model is once again based on the Lotus Elise and features an electric motor powered by a lithium-ion battery.

However, the Germans went one-step further and dressed the body in a carbon fiber suite to reduce the car's weight. Another highlight is the solar panel mounted behind the driver that collects the sun's energy and converts it into electricity to power up the batteries – or so the company claims.

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$1.4 Million Rolls-Royce Phantom Drophead Coupe gets Soaked in Australia

Posted: 24 Jan 2012 02:45 PM PST


We don't know what's more annoying about this video that shows a Rolls-Royce Phantom Drophead Coupe in Adelaide, Australia, with its top down being drenched in rainwater, reportedly for at least half an hour: the careless owner that didn't come out to see what was going on or the indifferent bypassers whose only concern was to film the spectacle.

According to news reports from Australia, the convertible Rolls-Royce, which costs upwards of AU$1.35 million, the damages to the car's interior from the rain may cost the owner as much as AU$100,000. Watch the rainy clip in the video after the jump.

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Video: Things Honda Car Guys Say [NSFW]

Posted: 24 Jan 2012 02:13 PM PST


If you regularly surf the internet aimlessly for hours, there's a good chance that you are aware of the new fad to hit YouTube with a string of videos usually titled "Shit –insert something here- Say", and which may or may not have started with the "Shit Girls Say".

Not surprisingly, someone came up with a car-related clip titled "Shit Honda Guys Say" which you can watch right after the break. We must warn you, though, there is some foul language…

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Buick Excelle is the Best Selling Car in China for 2011, GM and VW Take 7 of the Top 10 Spots

Posted: 24 Jan 2012 01:40 PM PST


In Europe, the most popular model in terms of sales in 2011 was the aging Volkswagen Golf with 485,547 units followed by the VW Polo and the Ford Fiesta, while in the United States, Ford's F-Series took first place with 584,917 units and was trailed by the Chevy Silverado and the Toyota Camry.

In China, while the overall top sellers continue to be commercial microvans, the bestselling passenger model for 2011 was the Buick Excelle with 254,000 units, according to data provided by the China Association of Automobile Manufacturers.

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Scoop: Fiat Prepares 4x4 Edition of its New Panda City Car

Posted: 24 Jan 2012 01:06 PM PST


Since the first generation of the Panda, Fiat has always offered four-wheel drive versions of its popular city car and this is not going to change with the newest iteration of the model that was unveiled at last year's Frankfurt Motor Show.

Spied here during cold weather testing in Europe, is a prototype of the third generation Panda 4x4, which is expected to join the range towards the end of the year or in early 2013.

The new Panda 4x4 will use a similar all-wheel drive setup with its predecessor featuring a hydraulic clutch in front of the rear differential. Engine choices are believed to include both diesel and petrol units.

Aside from the all-wheel drive system, Fiat's engineers will make changes to the suspension that will be strengthened and raised appropriately, as well as to the steering system.

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This is Not the All-New 2013 Maserati Quattroporte

Posted: 24 Jan 2012 12:34 PM PST


Regular readers will know that you can't ever be too careful with allegedly official photos of unrevealed cars floating around the internet. The examples are too many to list.

Earlier today, the guys over at GT Spirit tipped us off on these photos of the 2013 Maserati Quattroporte with the note that they were the first official pictures of the Italian firm's upcoming sedan model.

However, as it turns out, it's not the new Maserati Quattroporte but the Maserati...Quattroroute as the images are actually renderings from the November 2011 issue of the Italian car magazine Quattroroute, scans of which were posted over at Autoblog.nl. More pictures if you're interested after the break.

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New Porsche 911 Spot Takes us for a Ride Back in History

Posted: 24 Jan 2012 12:03 PM PST


There seems to be a new trend developing in new car commercials these days. The concept revolves around heritage, while a deep male voice tells a story – not so much about the car itself, but more about origins, people and company values.

It turned out so well for Chrysler with the "Imported from Detroit" campaign that its partner Fiat created a similar themed version for the new Panda.

And now Porsche has released a new commercial for the 911 talking about the car's identity. The video takes us for a ride through the years from the early days of the model to the current version codenamed 991.

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This is the New 2013 Ford Fusion NASCAR Racecar

Posted: 24 Jan 2012 11:42 AM PST


The presentation of the 2013 Fusion at the Detroit Motor Show earlier this month has brought a new look for Ford Motor Company's representative at the NASCAR Sprint Cup series.

And by that we mean only looks as the actual 2013 Fusion sedan you'll find in your local Ford dealerships has nothing else in common with the NASCAR racer seen here. Nevertheless, Ford sees the NASCAR racer's familiar looks as a good promotional tool to sell more Fusions to the masses.

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Stray Pooch Causes Multiple Vehicle Pileup on Ohio Interstate

Posted: 24 Jan 2012 11:23 AM PST


Raw footage from a police car dashcam shows a scary pileup that occurred in the beginning of January on Interstate 77 near Pike Township in Ohio.

What happened? Ohio State Trooper Jim Donohue was on the scene trying to catch a stray dog that was wondering on the highway when drivers started stopping in the middle of the road.

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Honda's Cumulative Worldwide Hybrid Sales Surpass 800,000 Units Since 1999

Posted: 24 Jan 2012 11:00 AM PST


While not as near as successful as its native rival Toyota when it comes to hybrid models, Honda remains a major player in the category having recently topped the 800,000 sales mark.

As we learned today, the milestone came at the end of December 2011 and was achieved 12 years and 2 months after Honda launched the first generation of its Insight hybrids in Japan in November 1999. For the record, last April Toyota sold its 1 millionth Prius in the States.

The first Insight delivered a fuel economy of 35km/liter (equal to 82.3mpg US or 2.9lt/100km) on the Japanese driving cycle, lending it the title of the most fuel-efficient gasoline-powered model of its time - according to Honda.

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2012 Edition of the Qatar Motor Show in Photos

Posted: 24 Jan 2012 10:30 AM PST


As one of the largest and most important auto shows in the Middle East, the annual Qatar Motor Show's primary goal is to serve as the launching pad for the local debut of the industry's latest models before they arrive in showrooms.

That said, with the exception of some non-significant debuts such as the one-off, black and yellow themed Bugatti Veyron Grand Sport that we told about on Monday, the show doesn't host any noteworthy world premieres.

Nevertheless, for those of you that want to get a sample of the 2012 edition of the Qatar Motor Show that will be open to the general public from January 25 to 28, we've prepared a high-resolution gallery that you can check out for yourself right after the break.

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Wanted: Automotive Partner for Small Car Development; Contact Volvo

Posted: 24 Jan 2012 10:04 AM PST


Going it alone on new model development is a costly endeavor even for large automotive groups – and practically out of the question for smaller manufacturers.

Volvo until now has built all of its models around the platforms and powertrains from its former owner Ford. Now it is seeking a new partner to jointly develop its next generation of compact models.

Currently owned by Chinese carmaker Geely, Volvo recorded an impressive 20 percent increase in sales last year. Still, with some 450,000 units, it remains a small player in the global automotive industry, thus the need for cost sharing on new model development.

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2011 Saab 9-3 and 9-5 Sedans for Half Price, but Would You Buy Them?

Posted: 24 Jan 2012 09:19 AM PST


Ever since we learned about Saab's bankruptcy, many pondered whether it would be a good idea to buy a brand new or a very low mileage example from dealers that wanted to get rid of the cars they had in stock at marked down prices.

The problem is that these cars are offered without a manufactures warranty while we're still not certain what's going on with parts, because sure you can get an awesome deal, but what happens if something breaks or needs replacement on your car; will you find a part in a timely manner and equally important, at what cost?

It's good to keep in mind that being an older model, it's much easier to find replacement parts for the 9-3 series than it is for the newer 9-5.

Lots of questions not too many answers, and this is something that will likely make most mainstream buyers wary.

What we can say is that over the past few weeks that we have been following the subject, prices of the remaining Saab cars in the U.S. have dropped significantly.

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Nissan 350Z Coupe Crashes Into 350Z Roadster on the Highway, How Did that Happen?

Posted: 24 Jan 2012 08:23 AM PST


Here's a video that will have you trying out YouTube's loop feature to find out what exactly happened to cause this crash between two fellow Nissan drivers, which looks like it took place either in the States (more likely) or in Canada.

The dashboard footage from the Infiniti G35 that was following from behind shows the Nissan 350Z roadster on the left lane and the allegedly supercharged 350Z coupe on the right side driving at what appear to be normal speeds.

Then when hear something that sounds like an engine revving and all of a sudden the coupe Z pulls to the left and smashes into the silver roadster with both cars falling into the grass median.

Fortunately, according to the YouTube poster's description, no one was hurt during this incident.

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Land Rover Joins Forces with Blaser Hunting Rifles to Create Special Edition Defender

Posted: 24 Jan 2012 07:36 AM PST


If you happen to be into hunting, then you're surely going to like Land Rover's new limited edition Defender Blaser just as long as you live in Germany and are willing to fork out a hefty €49,500 (equal to US$64,400).

Crafted in cooperation with German firearms manufacturer Blaser, which specializes in hunting rifles, production of the Defender "Blaser Edition" will be limited to just 60 units built exclusively for the local market.

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eBay Find: Fully Restored 1967 Datsun Sports 2000 Roadster

Posted: 24 Jan 2012 07:10 AM PST


Even though the name Datsun Sports (or Datsun Fairlady in Japan) may not ring a bell to many readers, the series was a very important model for the carmaker, which we know today as Nissan, as it led to the creation of the Z series starting with the 240Z in 1968.

The Datsun Sports line was introduced in 1959 as an inexpensive alternative to the MG and Triumph roadsters, borrowing many styling cues from British models.

The first model, codenamed S211, used a tiny 1.0-liter engine with just 36-horsepower but the lineup gained momentum and in 1967, the Japanese carmaker introduced the last version of the series, the SR311/SRL311.

It was fitted with a much more potent 2.0-liter inline-four producing 133HP in normal guise and 150HP with an optional package featuring dual Mikuni/Solex carburetors and a special camshaft, linked to a five-speed manual gearbox which was uncommon for the time.

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More than Half of Rolls-Royce Ghost Buyers Customize their Cars

Posted: 24 Jan 2012 06:33 AM PST


According to data provided by Rolls-Royce, 56 percent of the company's clients who ordered a Ghost and Ghost Extended Wheelbase model last year customized their vehicle through the brand's bespoke operations.

The British luxury brand's personalization program includes anything from the application of unique paint colors, coach lines and tread plates to special features such as champagne sets, humidors and picnic cabinets.

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BMW Takes the Joy Out of Driving with Autonomous Technology

Posted: 24 Jan 2012 06:01 AM PST


The maker of the so-called "Ultimate Driving Machine" is testing a new technology that allows the car to replace the driver under certain conditions such as highway driving or in traffic jams.

BMW first told us about its experimental Highly Automated Driving system last summer but now we have the opportunity to see it work in action through a video report released by the German automaker.

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Audi Purchases More Land to Expand its Ingolstadt Plant

Posted: 24 Jan 2012 05:32 AM PST


While Audi's production facilities in Ingolstadt have been growing for the past few years, the plant's available space has reached its limits. Back in 2005, the factory produced the A4 Sedan, A4 Avant, Audi A3 and A3 Sportback, but over the years, Audi added the A5 Coupe, A4 allroad quattro and Q5 crossover.

To relieve the situation, the German company decided to a acquire an adjacent site measuring about 40 hectares at the Münchsmünster industrial park of which it will initially develop 27 hectares (66.71 acres or 270,000 sq. meters).

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