Toyota announces prices of the Prius V and Prius P...
Toyota announced pricing of the new Prius V and Prius Plug-in on Friday. The new compact V wagon will carry an MSRP of $27,160, while the plug-in hybrid stickers at $32,760. ...
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Acura announces 2012 TSX pricing, special edition
The 2012 Acura TSX sedan and sports wagon gets a $200 price bump across the line, which puts the base model with a five-speed automatic at $30,695.
Acura also ...
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Archive for April, 2011
2012 Mercedes-Benz C63 AMG Black Series revealed!
There is Mercedes-Benz, there is AMG, and then there is the Mercedes-Benz AMG Black Series. The last mentioned are so highly tuned and rare that AMG has slapped the Black label on only four models so far: the SLK55, the CLK63, the SL65 and now this, the C63 AMG Black Series coupe.
We did not get to drive a C63 Black Series–but AMG did let us stand next to one and look at it. The coupe starts with the already formidable C63 AMG and goes up from there. With forged pistons, con rods and crankshaft from the SLS AMG, the car’s naturally aspirated output rises from 480 hp to 510 hp, while torque goes from 433 lb-ft to 457 lb-ft.
This car does not make the leap to the higher-efficiency 5.5-liter turbo found in some AMG models, staying instead with the tried and true 6.2-liter V8. Granted, the chrome signage on the sidepod says “6.3,” a branding moniker inspired by an early AMG race car. You may recall the semifamous picture of the 300SEL 6.3 AMG at Spa 40 years ago.
Torque is routed through AMG’s Speedshift MCT seven-speed, with the same four modes as on other AMG models: sport, sport-plus, manual and race start. Using race start, 0 to 60 mph comes up in 4.0 seconds, according to AMG.
The track on the car is widened one and a half inches in front and three inches in back. Overall width is up an inch in front and an inch and a half in back. There are no ceramic brakes available, but the steel rotors are bigger, measuring 390 millimeters front and 360 millimeters rear, with six pistons grabbing them. About 24 pounds of the car’s 44 pounds of weight reduction compared with the AMG model comes from the Black Series’ forged alloy wheels, which are wrapped in 255/35 front and 285/30 rear Dunlops.
Inside are two racing seats. Two rear seats are optional, in case you need to bring three riding mechanics.
The body tries hard to convey all of that power, perhaps a little too hard, depending on your tastes, with extremely wide fender flares, meaty hood scoops and slats and vents seemingly everywhere. The optional Aero package includes a rear wing. The tarted-up exterior may work for you or it may remind you of something you’d see at the SEMA show on a Ford Mustang, not in the main hall but off in one of the more remote locations. Forgo anonymity, all ye who enter here. Personally, we’d like a sleeper version with less of the bodywork and just as much horsepower.
All 510 hp are coming to the U.S. market in March 2012. Pricing will be released closer to that date. We are supposed to get to drive it sometime in November. Look for a (very fast) driving impression around that time.
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V6s now trump V8s in Ford F-150
For the first time since 1985, Ford Motor Co.’s F-150 pickups equipped with V6 engines are outselling those with V8 engines. And Ford is struggling to keep up with demand for the V6s.
Dealers are clamoring for Ford to ramp up production of the 3.5-liter direct-injection turbocharged EcoBoost V6 engine because of its popularity.
“It’s an impressive engine,” says Martin Gubbels, owner of Big Sky Ford-Lincoln in Torrington, Wyo. “Now Ford just has to build enough of them.”
Gubbels has sold seven F-150s with the EcoBoost V6 since March. He has one in stock but wants four.
Through Tuesday, July 19, the EcoBoost V6 engine accounted for about 41 percent of July F-150 sales in North America. The 3.7-liter naturally aspirated V6 engine accounted for 15 percent, Doug Scott, Ford’s manager of truck group marketing, told Automotive News.
The two V6 engines made up 57 percent of F-150 sales in April and May and 56 percent in June.
“We haven’t been able to match the demand for EcoBoost,” Scott says.
A Ford spokesman says Ford’s two engine plants in Ohio are running on overtime to catch up to demand.
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Honda previews new 2012 CR-V
Honda is injecting a fresh attitude–and buffer body–into the 2012 Honda CR-V set to go on sale later this year.
The company released a photo of a concept that features bolder headlights, a three-bar grille and more pronounced flowing lines. There are also five-spoke alloy wheels and bolder fender flares.
Honda didn’t reveal specifics, but the next iteration of the CR-V will get a new interior with more room, a more fuel-efficient engine and a reduced curb weight.
“The 2012 CR-V concept introduces the exterior styling for the more sophisticated and dynamic design of the upcoming production model,” John Mendel, executive vice president of sales for American Honda, said in a statement.
The CR-V remains a strong seller for Honda, and sales are up 28 percent this year through June, tallying 110,916 units.
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A Nissan GT-R drag races a Jeep Grand Cherokee SRT-8 [Video]
Godzilla versus an SUV? That doesn’t sound like a fair fight, yet Drag Times arranged exactly that matchup–between a 550-hp Nissan GT-R Stage 2 and a force-fed, 640-hp Jeep Grand Cherokee SRT-8. The results are perhaps predictable, but closer than one might imagine.
The race appears to take place outside the United States–the track is demarcated in meters–yet the results are displayed in Yank units. We’ll have to take Drag Times at its word regarding the results data at the very end. Assuming the timing is accurate, those are some impressive numbers, indeed.
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Hyundai to show redesigned Azera at Los Angeles auto show
The redesigned 2012 Hyundai Azera sedan will debut at the Los Angeles auto show
in November.
The upscale sedan will be the latest update to Hyundai’s lineup featuring the brand’s “fluidic sculpture” design language, a major change from the current Azera’s tame styling. The car is expected to go on sale in late 2011 or early 2012.
John Krafcik, CEO of Hyundai Motor America, announced the Azera’s L.A. auto show debut on the company’s @Hyundai Twitter account. A Hyundai spokesman confirmed the information.
“We’re in the final stages of ride/handling tuning for the 2012 Azera, and it’s dialing in nicely. Look out for it at the LA Auto Show,” Krafcik said in the tweet.
Hyundai has not announced powertrain, specifications or pricing details for the 2012 Azera. But a new 3.3-liter direct injection V6 engine is expected to power the redesigned Azera. Dealers who have seen the car have said the engine will produce around 300 hp.
Hyundai hopes the new Azera will appeal to Sonata owners looking to upgrade within Hyundai’s lineup without jumping to the Genesis luxury car. Even though Hyundai is sure to follow its recent pattern of loading its new and redesigned products with content, technology and upscale touches, don’t expect 2012 Azera pricing to stray too far from the 2011 model’s $26,270 sticker.
Pricing too high above the base Sonata’s $20,455 sticker makes the jump less appealing, especially considering a base Hyundai Genesis starts at $35,050, including delivery
Hyundai has also said it expects the Azera’s front-wheel-drive layout to appeal to buyers in cold-weather states where the Genesis’ rear-wheel-drive system can be a deal breaker.
The Azera has been a nonstarter for Hyundai for a few years. Sales were just 3,051 units in 2010, a 20 percent drop from 2009. Azera sales in the first half of 2011 were down 31 percent from the same period in 2010 to just 1,095, making it Hyundai’s lowest-volume vehicle.
For context, Hyundai sold 1,392 of its new, roughly $60,000 Equus luxo-barge through June, nearly 300 units more than the Azera.
But Hyundai expects its fortunes with the Azera to change when the 2012 model hits showrooms. Hyundai has said the potential exists to sell 18,000 to 20,000 units annually after the redesign.
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Maserati banks on Chrysler to boost global sales
Fiat CEO Sergio Marchionne has bold plans for the automaker’s Maserati luxury sports car unit: to boost annual sales almost tenfold to 50,000 units from 5,675 last year.
Three new models are key to this midterm goal and all are based on systems and components from Chrysler Group.
Maserati will introduce two new sedans to replace its Quattroporte flagship model using technology from Chrysler’s large sedans such as the Chrysler 300 and the Dodge Avenger.
The third new Maserati will be the company’s first SUV. Chrysler will build it alongside the Jeep Grand Cherokee in the Jefferson North plant in Detroit.
Maserati officials say the new models will not be rebadged Chryslers. They will have different bodies and interiors, as well as new front and rear suspensions and dedicated powertrains. The parts to be shared will be where the custome
r does not see it, the same as in the Bentley Continental, which is a rebodied Volkswagen Phaeton.
Quattroporte’s size problem
Maserati’s two new sedans will be produced at the Officine Automobilistiche Grugliasco (OAG), the new name Fiat gave to the former Carrozzeria Bertone factory it bought in 2009. Maserati will invest 550 million euros ($774 million) to refurbish the plant and launch the models.
The sedans will solve the current Quattroporte’s size problem. The car is too big to be a compelling driver’s car but too small–particularly in terms of rear legroom–to serve as a good chauffeur’s car.
The problem will be resolved by offering two cars: a “baby” Quattroporte, code-named M157 and a larger Quattroporte, code-named M156.
The “baby” Quattroporte will launch next year and is designed to be a driver’s car and compete with rivals such as the Audi A6, the BMW 5 series and the Mercedes E class.
The project was initially conceived as a flagship model for the Alfa Romeo brand but was switched to Maserati because this brand could win a higher pricing point and already has a global distribution network.
The new model keeps Maserati’s traditional layout of a front longitudinal engine and rear-wheel drive.
The car will use a heavily revised, high performance version of the Chrysler V6 Pentastar engine. With capacity reduced to 3.0 liters, the addition of Fiat’s fuel-saving MultiAir air management system, twin turbocharging and dire
ct injection, this variant will deliver more than 400 hp and good fuel economy. The most powerful version of the 3.6-liter Pentastar currently delivers 305 hp on the Dodge Challenger.
Europe would also get a diesel variant of the baby Quattroporte with a beefed-up version of VM Motori’s 3.0-liter V6 engine currently offered on the Jeep Grand Cherokee for export.
Maserati sa
ys the new car will fit a price range between 55,000 euros to 70,000 euros in Europe ($78,000 to $99,000).
Mercedes S class rival
The large Quattroporte will be considerably bigger than the current model to compete better with chauffeur-driven, long-wheelbase versions of German flagship sedans such as the Audi A8, BMW 7 series and Mercedes-Benz S class.
With overall length at about 203.5 inches, the new model would be 2.8 inches longer than the current Quattroporte and 8.7 inches longer than the “baby” Quattroporte.
Maserati’s new flagship will use a revised version of the Ferrari-built 4.7-liter V8, switching to direct injection and delivering about 475 hp, coupled with ZF Group’s eight-speed automatic transmission. This sporty, fuel-saving
transmission is already available on large Audi and BMW models, while Chrysler will begin offering it on the 2012 model year on the 300 sedan and its Dodge Charger sibling.
Maserati will add all-wheel drive and stop-start technology, aiming to reduce fuel consumption by 25 percent from the current Quattroporte.
Maserati said the new Quattroporte should increase the brand’s share in the global superluxury sedan segment to 8 percent from the current 3 percent. The company counts superluxury sedans as models priced between $180,000 and $215,000 (125,000 euros and 150,000 euros) in Europe.
The sedans will account for about 30,000 to 35,000 units of Maserati’s 50,000 annual sales target and the SUV for about 10,000 to 15,000. The remaining 5,000 units would come from Maserati’s current core products, the GranTurismo coupe and the GranCabrio convertible.
The new Maseratis were designed by the Maserati Styling Center in Turin, under the direction of Marco Tencone and the supervision of Fiat group design supremo Lorenzo Ramaciotti. For the past two decades, Maseratis have been styled either by Italdesign Giugiaro S.p.A. or Pininfarina S.p.A.
Frankfurt SUV debut
Maserati will debut a concept at the Frankfurt auto show in September that hints at its Jeep Grand Cherokee-based large SUV set to hit the market in 2013. The Maserati variant features specific body panels and a new interior.
The engine would be Maserati’s 4.7-liter V8 unit capable of about 450 hp, coupled with ZF’s eight-speed automatic transmission.
Possibly only for Europe, the Maserati SUV could also get a diesel variant using VM Motori’s 3.0-liter V6, with power increased to more than 300 hp from 241 hp the engine currently delivers on the Grand Cherokee exported to Europe.
Maserati declined to give a price target for its large SUV, but in Europe it would cost considerably more than the Jeep Grand Cherokee 5.7-liter V8 Overland that in Italy starts at $92,000 (63,800 euros).
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Chrysler posts $370 million net loss on costs tied to repaid loans
Chrysler Group LLC, after recording its first post-bankruptcy profit three months ago, posted a net loss of $370 million in the second quarter due to costs tied to the repayment of government bailout loans.
Chrysler incurred a charge of $551 million in paying back the U.S. Department of Treasury and the Canadian loans that kept the automaker afloat in 2009.
“Modified” operating profit nearly tripled from a year earlier to $507 million, while revenue climbed 30 percent to $13.7 billion, the company said Tuesday.
Helped by new models and a big advertising push, Chrysler’s second-quarter worldwide sales increased 19 percent to 486,000 units.
Cash reserves rose $300 million during the past three months to $10.2 billion.
“There is no doubt that Chrysler Group has taken a huge step forward this quarter,” CEO Sergio Marchionne said in a statement. “Refinancing our debt and repaying our government loans six years early reinforces our conviction that we are on the right path to rebuilding this company and restoring it to its rightful place on the global automotive landscape.”
In the first quarter, Chrysler recorded a net profit of $116 million, its first since exiting a U.S.-steered bankruptcy under the control of Italy’s Fiat S.p.A.
Milestones in the second quarter included:
– The May 24 repayment of $5.9 billion to the U.S. government and $1.7 billion to Canada, six years ahead of the original schedule.
– Refinancing its debt with a $3.0 billion senior secured loan, $3.2 billion in secured notes and a $1.3 billion revolving line of credit.
– Worldwide shipments rose 19 percent to 514,000 units and marked this first time that figure had topped 500,000 units in a quarter since Chrysler exited bankruptcy in June 2009.
As part of the refinancing, Fiat exercised an option to lift its stake in Chrysler to 46 percent from 30 percent.
Last week, Fiat ended U.S. and Canadian taxpayer ownership by paying $625 million to acquire the U.S. Department of Treasury’s remaining 6 percent holding as well as Canada’s 1.5 percent stake.
Under terms of the bailout, Fiat will be allowed to boost its stake by another 5 percentage points, to 58.5 percent, by building a 40-mpg car in the United States. That is expected to happen in the fourth quarter when Chrysler begins assembling a replacement for the Dodge Caliber in Belvidere, Ill.
A UAW health-care trust will own the remaining 41.5 percent of Chrysler.
Chrysler said its adjusted net income for the second quarter was $181 million, compared with a loss of $172 million in 2010.
The company projected revenue for the full year at over $55 billion.
Modified operating profit for 2011 will be $2 billion, Chrysler said.
Marchionne, who is working to unify the companies under a single management structure as soon as this week, is aiming for $140 billion in combined Fiat-Chrysler revenues by 2014.
The company is introducing 16 new- or revamped vehicles in the United States this year. The rejuvenated lineup has pumped some life into Chrysler sales, which rose 21 percent in the first six months over the same period in 2010.
That number is far below the 45 percent increase Chrysler sales executives set as a goal when they addressed dealers at the NADA convention in February.
According to data released by TrueCar.com, Chrysler has made some progress in some other key industry metrics.
The company’s average transaction prices are up 11.4 percent during the first six months of the year; incentive spending per unit has dropped 19.3 percent and the percentage of units sold to fleets has dropped 8.9 percent — from 40.5 percent for the first six months of 2010 to 31.6 percent a year later.
BMW gets new North America boss
Veteran BMW executive Ludwig Willisch, who has led sales operations in Europe and Japan, will take over as CEO of BMW of North America on Oct. 1.
The 54-year-old German will replace Jim O’Donnell, 61, who is retiring.
O’Donnell, a native of Scotland, has held the job since July 2008. Willisch will arrive in the United States on Sept. 1 and work alongside O’Donnell during a one-month transition.
Since May 2009, Willisch has been head of BMW Group’s European sales outside of Germany. Before that he was president of BMW M GmbH, the brand’s performance division in Munich.
He began his BMW career in 1996 as head of the sales office in Duesseldorf, Germany. He later ran the sales subsidiaries in Germany, Japan and Sweden.
O’Donnell, previously BMW’s top executive in the United Kingdom, worked past the company’s mandatory retirement age of 60. He leaves with BMW in good shape in the United States. Last month BMW outsold Mercedes-Benz to extend its lead as the top-selling luxury brand this year. And BMW is on track to outsell Lexus in the United States for the first time since 1997.
Through June, BMW’s sales rose 13 percent to 113,705, while Mercedes was up 7 percent to 110,926 and Lexus fell 18 percent to 88,010.
“They’re too far behind now to catch up,” O’Donnell said of Lexus this month.
Last year BMW Group sales, including Mini, rose 10 percent to 266,269, while BMW-brand sales rose 12 percent to 220,113.
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Toyota gives paralyzed bride a mobility van
In the 14 months after bride-to-be Rachelle Friedman took a paralyzing fall at her bachelorette party, she’d become pretty dependent on her wheelchair-accessible loaner van.
Little did she know that Toyota planned to hand one over as a gift for her wedding–postponed until this week in Raleigh, N.C.
Toyota and Braun–a manufacturer for wheelchair-accessible van conversions–had lent Friedman and her fiancé a Toyota Sienna with a BraunAbility Rampvan to make life a little easier in the months following the accident that rendered her paraplegic.
Before that, her mother had been carrying her in and out of the family’s SUV to go to wedding-planning events, physical therapy and hospital visits.
“The van’s made all the difference in the world,” Friedman said. “Not only has it saved my mom’s back, it’s just made it so much easier to get out and do things. I’ve missed this level of comfort, convenience and independence.”
Friedman and her fiancé tied the knot on July 22. After the wedding, Braun marketing director Joe Garnett and Toyota manager Scott Heyer presented them with the 2011 Braun Toyota Sienna.
Next, Friedman wants to learn to drive it.
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Ford posts $2.4 billion profit
Ford Motor Company reported a profit of $2.4 billion on revenues of $35.5 billion, excluding Volvo, during the second quarter, the automaker said Tuesday.
A year ago, Ford posted net profits of $2.6 billion on revenue of $35.07 billion, including Volvo. Excluding Volvo, Ford’s revenue in the second quarter of 2010 was $31.3 billion.
“We delivered very good second-quarter results while growing the business globally and serving more customers in every region,” Ford CEO Alan Mulally said in a statement. “Despite an uncertain business environment, we further strengthened our balance sheet and continued to invest for the future.”
More cash, less debt
“We’re off to a really good first half,” Lewis Booth, Ford’s CFO, said in a media briefing. “We’re now at $14 billion net debt and net cash of $8 billion, which is a substantial improvement from the first quarter.” Net cash is gross cash minus debt.
Ford’s cash total rose $700 million from March 31. Its debt fell $2.6 billion to $14 billion.
Ford said second-quarter profits declined in its South America, Europe and Asia Pacific Africa operations.
Ford Motor Credit Co. posted a pretax operating profit of $604 million, down $284 million from a year earlier. The finance unit continues to benefit from strong residuals but is still hampered by less favorable credit loss reserves and lease depreciation expenses.
Booth stopped short of predicting when Ford would earn an investment grade credit rating. He noted that the rating agencies have made it clear they want the automaker to meet several requirements, including resolving contract talks with the UAW this summer. But Booth said if Ford continues to report profits and reduce debt, “We expect to get to investment grade sooner rather than later.”
Booth added, “It wasn’t an easy quarter.” He said demand weakened in North America after the March earthquake in Japan interrupted production for many automakers. Even though Ford’s production was minimally impacted, a shortage of cars kept some shoppers out of the market in both North America and Europe.
Ford is maintaining its U.S. full-year industry volume outlook in the range of 13 million to 13.5 million units, Booth said.
“We expect it to be closer to 13 million,” he said. Several analysts have lowered their outlooks to below 13 million, citing sluggish economic growth and earthquake-related inventory shortages.
Booth added there will be some improvements in the second half as Japanese production ramps up.
“We expected a relatively quiet year this year and that’s what we’re going to see,” he said.
All oil-driven commodity prices–including steel, aluminum and plastic–remain under upward pressure, Booth said. He reiterated Ford’s guidance that its commodity costs would be $2 billion higher this year than last year.
First equals best
Ford posted first-quarter net profits of $2.55 billion on revenues of $33.11 billion and said in April it would be the best quarter this year because it planned to hike spending in following periods.
Ford has budgeted $5 billion to $5.5 billion in capital outlays this year, with the bulk of it taking place after the first quarter.
In the second quarter, Ford North America reported a pretax operating profit of $1.9 billion, an increase of $10 million from a year ago. Ford attributes that rise to improved net pricing, higher volumes and a more favorable mix of vehicles, meaning more sales of higher-margin cars and trucks.
Those positives were offset by higher commodity and structural costs, as well as increased spending on new products.
Special losses
Ford’s second-quarter net also was dragged down by special losses of $272 million, $177 million more than a year earlier. The special losses covered personnel-reduction actions, the closing of its Mercury brand and other dealer-related actions in North America, and pension settlements in Belgium.
Ford sold 736,000 vehicles to dealers in the quarter, up 77,000 from a year earlier. North American revenue was $19.5 billion, up $2.6 billion from a year earlier.
Ford said second-quarter profits declined in its South America, Europe and Asia Pacific Africa operations.
U.S. vehicle sales slowed across the industry during the second quarter compared with the first quarter because of inventory shortages and slower economic growth.
Ford’s U.S. sales rose 9 percent during the period to 574,228 units.
“The key debate around Ford continues to be the sustainability of–or potential for improvement in–North America pretax profits,” Barclays analyst Brian Johnson said in a report Monday.
Johnson and other analysts say Ford remains vulnerable to industry pricing trends, sales volumes, higher commodity costs and increased structural costs.
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