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industry news

Merrill Lynch "Car Wars" Report Claims Cerberus Readying Chrysler For Chop Shop

The new Dodge Challenger is hitting showrooms. The 2009 Dodge Ram launch is scheduled for fall. But it's the sounds of silence after that when it comes to product. What's going on? One influential industry study, the Merrill Lynch "Car Wars" report (yes, that's it's real name), states Chrysler's lack of new product may be a deliberate effort on the part of owners Cerberus Capital Management to thin the herd in advance of a breakup and subsequent sale. In an excerpt that again proves financial analysts are paid by character count, the report says,
"Chrysler's product pipeline severely lags the industry on a number of key metrics, which is an ominous sign for its market share. We believe that this is an active decision by new owners to rationalize the product portfolio in advance of a breakup/sale."
Cerberus, of course, is denying any such plans, stating that, "We have a model that is buy, fix and hold." Uh-huh. Didn't Gordon Gecko say that too? More »

10:00 AM on Mon Jun 30 2008
By Andrew Stoy
3,251 views, 32 comments

Latest by Chairman Kaga: @jaylake: MoPac'll do that to you every time. more »

industry news

Ford In Talks With Chinese About Volvo Sale

Ford is reportedly negotiating the sale of Volvo to Shanghai Automotive Industry Corp. While no deal has been announced yet, and Ford is officially continuing to say Volvo is not for sale, Kirk Kerkorian, the billionaire investor who recently gained control of 6.5% of Ford shares, has come out in favor of a Volvo divestiture. Considering the performance of Chinese cars in recent crash tests (though not specifically SAIC cars), the logic of purchasing an automaker with a reputation for safe cars is diabolically sound. Chinese world takeover theories begin in five, four, three... [Automotive News (sub. req.)]

1:20 PM on Wed Jun 25 2008
By Andrew Stoy
1,226 views, 26 comments

Latest by mr.chophoppers: @SeanKHotay: I believe that sos10 was referring to Sir Winston Churchill's famous quote: "India" is as much a country as the Equator. more »

industry news

GM To Offer Zero-Percent Financing, Raise Prices, Screen Hummer Buyers

With sales in the toilet, GM plans to offer 0% financing for up to 72 months starting tomorrow and running through next Monday. The special Hail Mary offer will be valid on approximately 80% of the automaker's unsold inventory, and is a last-ditch effort to show at least passable June sales. And, to ensure GM has to repeat this profit-draining stunt next year, the company will raise the prices for most of its 2009 models by approximately 3.5%. Maybe that ZR1 price gouging was just a sign of things to come? Oh, but there's more. More »

2:40 PM on Mon Jun 23 2008
By Matt Hardigree
3,896 views, 39 comments

Latest by n/a: Mahindra & Mahindra will probably buy Hummer, to have a cachet truck brand to compete with Tata/Land Rover. I have to agree with others, even with 0% financing, I can't think of any GM vehicle I'd jump at, except maybe the more »

industry news

More Evidence Points To Hummer Sale; Russians, Chinese Interested?

More evidence is emerging that GM is moving quickly to solve its Hummer problem. The Detroit Free Press reports today on John Voss, a Dayton-area dealer who purchased a Hummer franchise in April, who says that GM offered to refund his money. "They have three choices and they said they want to make this decision very quickly," Voss said. "They are either going to make a smaller Hummer hybrid and change the H2, close the brand or sell it." Given the lead time needed to create a Hummer hybrid or impose radical changes to the H2 and the implications of closing the brand, a sale still seems to be the most practical option for GM. More »

12:15 PM on Thu Jun 19 2008
By Andrew Stoy
1,137 views, 20 comments

Latest by n/a: Sell it back to the Austrians. more »

industry news

Hummer To Join Fred, Be Not-Yet-Dead?

Mark Phelan, columnist for the Detroit Free Press, today argues both sides of the "should Hummer stay or should it go?" coin. On one hand, Hummer's gas-sucking asshole image isn't doing GM any favors, and poor sales numbers make the abuse harder to absorb. On the other hand, Hummers are truly capable vehicles with a rabid (if shrinking) fan base. Then there's the issue of Hummer dealers getting all sue-happy if GM shut the brand down. There still seems to be a logical option, however. More »

11:20 AM on Tue Jun 17 2008
By Andrew Stoy
1,385 views, 43 comments

Latest by danio3834: 30 years ago, did people feel the same way about the IH Scout? more »

industry news

Hummer Up For Sale, Four Truck Plants Gone?

The times, they are a changin', and this week GM Chairman and Chieftain Rick Wagoner seems to have noticed. Wagoner announced a "strategic review of our Hummer brand," yesterday. Translation: "Anyone want to buy Hummer? Anyone? C'mon...cheap! Cerberus, I'm lookin' at you." Also included in the statement was news that four truck plants will be making the ultimate sacrifice: Moraine, Ohio; Janesville, Wisconsin; Toluca, Mexico; and Oshawa, Ontario. More »

8:53 AM on Tue Jun 3 2008
By Andrew Stoy
2,458 views, 56 comments

retro

Aussie Wants $1.2 Million For Holden FX #46, We Choke On 'Roo Burger

It's one thing to sell an exceedingly rare and beautiful car for a big pile of cash, but what about just a rare car? Nobody is going to mistake this 1948 Holden FX — one of only 112 sold, and one of three thought to still exist — for any kind of concourse winner. It's just plain fugly in our opinion, but as they say, beauty is in the eye of the beholder. Apparently its pretty damned beautiful to owner Charlie McCarron, who has put it up for sale and is asking a stonking $1.2 million for it. More »

1:45 PM on Tue Apr 8 2008
By Ben Wojdyla
954 views, 28 comments

Latest by n/a: I happen to know Charlie very well. He has a wonderfull collection of cars, particularly holdens. His 48-215 is nice, but not that great, hardly worth that type of money. He has many cars in my opinion that should be more »

for sale

Now You, Too, Can Own Your Very Own Professional Drifter

There's not much history to drifting in America... yet. Here's a chance to get in on the ground floor of automobilia by purchasing Takahiro Ueno's D1GP USA-spec Toyota Soarer (aka Lexus SC 400). With no drifting series for 2008 there is suddenly a need to sell the drift machines, making it one of the fastest ways to get into highly-tuned JDM metal. There's no word on price, but we're guessing it won't be cheap, especially after looking at the parts list. Better description below the jump.

More »

9:30 AM on Wed Mar 26 2008
By Matt Hardigree
1,341 views, 36 comments

Latest by n/a: Not a sport. more »

cars for sale

Second Lamborghini Reventon For Sale By Innovation Cars

Five months ago we told you about the owner of Innovation Cars and his attempt to sell his yet-to-be-delivered $1.5 million Lamborghini Reventon. One of the limited run of only 20 of the bull-branded budget-busters first revealed at the Frankfurt Auto Show, we wondered whatever happened to his attempted sale. Well, it looks like although Hugh McAuley was able to part with the LP640-derived and up-priced Lambo it sure wasn't easy for a variety of reasons which he's detailed below the jump. The important news however is that he's got another Lamborghini Reventon to sell. Bidders interested should contact him via the link below the jump. Unless you're a scam artist. Or a "blagger." Then you should just leave him the hell alone.

More »

10:00 AM on Thu Mar 13 2008
By Ray Wert
2,254 views, 14 comments

Latest by nickoftime93: wow, i go to school with the kids of the person who bought the first one. more »

We don't care how great the 3.0-liter version is, we're not spending a dime over $2,000,000 for a BMW Z4 and that's that. [AutoTrader]

7 comments

military

Buy an Armored Personnel Carrier!

Take a look where you're livin'/You got the army in the streets/And the RUC dog of oppression/Is barking at your feet.
More »

4:22 PM on Thu Apr 6 2006
By Davey G. Johnson
855 views, 6 comments

news

Trivelle? Chevumph? Fuggit. Frankencar on Craigslist

Reader James hipped us to this post from the bountiful bosom of the Dallas-area craigslist. It's a '70 Triumph GT body fused to a shortened Chevelle chassis. We're not quite sure what the whole purpose of this excercise was, but since it's only $200 bucks, the money you saved by not buying a sensible car could go into a blown-alcohol 454, making this disturbing vehicle perfect for taking on the Main Force Police. More »

3:01 PM on Tue Jan 24 2006
By Davey G. Johnson
307 views, 2 comments

news

Who Needs an FXX When You Can Have a Pinto?

Bumbeck just tipped us off to a sweet little orange Pinto wagon on Craigslist in the LA area. We figured it was an appropriate antidote to all of this "FXX on eBay" hysteria that's going on. Apparently, the timing chain quit the team, but for 1200 bucks, how can you really go wrong? The thing's just dying for a 347 stroker motor to turn it into the ultimate white-trash drift machine. And yeah, the faux-wood paneling's pretty much mandatory unless you're gonna give it a psychedelic '70s Himsl & Haas-style paint job with lots of marblizing. More »

10:39 AM on Tue Jan 3 2006
By Davey G. Johnson
250 views, Comment