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Open a saving account with Spanish bank Banesto and they’ll give you a brand new, all-expenses-paid car. To qualify for a vehicle, a customer needs to lock between $26,400 and $235,000 into an account for at least 24 months, with the type of vehicle offered depending on how much one invests. For $235,000 and 36 months, you receive a Citroen C4 diesel, $175,000 a Citroen C3 and $145,000 a C2. Of course, there’s a catch. More »
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The Auto Affordability Index found that it's getting more expensive to buy a new car, as if we needed another reason to consider buying a vintage RWD import instead of something from a dealer's lot. In the third quarter of 2007, it took 24.8 weeks of median family income to buy an average-priced car or truck, compared to just 24.4 weeks in the same quarter of 2006. More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=320870&view=rss&microfeed=true According to the AIADA newsletter, Volkswagen is prepared to carry out an epic reduction in its cost structure. Company officials are planning to cut billions of dollars in costs, with "no sacred cows" spared. Engineers have reportedly reduced the production costs of the VW Golf by $1000 and the company will soon start squeezing suppliers until they cry "onkel," and instuting more component-sharing among models. The plan is to increase earnings by 4 billion euros ($4.9 billion) by 2008, including a "pretax improvement" of 7 billion euros ($8.6 billion) at the VW brand. More »
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