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- Geely-owned Volvo seeks €600 million EIB loan
- 2011 Toyota Tundra gets more powerful V6
- Travis Pastrana smashes 12-year-old Mt. Washington Auto Road record
- 2011 Nissan Xterra, Pathfinder, Frontier and Altima pricing announced
- Mini Countryman rally car shown testing for WRC
- Video: Mazda Shinari concept and Kodo-fied Mazda3 make the scene
- Kia Motors chairman resigns over recalls?
- Spy Shots: Jaguar XF will look more like XJ for 2012
- New GM CEO Akerson to earn salary of $1.7 million
| Geely-owned Volvo seeks €600 million EIB loan Posted: 11 Sep 2010 07:37 PM PDT
Filed under: Europe, Government/Legal, Volvo, Earnings/Financials, Geely 2011 Volvo S60 – Click above for high-res image gallery Volvo received a €200 million loan from the European Investment Bank in March of this year, and sought another €300 million to cement its finances as it navigated the process of being sold by Ford. The rest of the funds were put on hold as Ford concluded the deal with China’s Geely, but now that the sale is complete Volvo is ready to take delivery of the additional sum. Geely-owned Volvo has revised its product timeline compared to when when it first applied for EIB assistance, however. As a result, it now seeks €600 million. At the moment, the process is on hold while Geely discusses loan guarantees with the Swedish government, but perhaps that extra dosh – assuming it’s approved – will help pay for Volvo’s 7 Series and S-Class competitor. Gallery: 2011 Volvo S60 [Source: Reuters] Geely-owned Volvo seeks €600 million EIB loan originally appeared on Autoblog on Sat, 11 Sep 2010 14:12:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments View full post on Autoblog   |
| 2011 Toyota Tundra gets more powerful V6 Posted: 11 Sep 2010 07:35 PM PDT
Filed under: Truck, Work, Toyota 2011 Toyota Tundra – Click above for high-res image gallery The full-size truck market here in the United States is about as accommodating as a pool full of piranhas and rusty razor blades. In this one, shining segment, the Big Three enjoy unparalleled dominance; safe from attack from intruders from Japan and Germany thanks to a quirk in the tax structure and a lifetime worth of experience in crafting vehicles built to work. Toyota is attempting to lure buyers away from the F-150, Silverado and Ram by offering a more powerful V6 engine in the 2011 Tundra. The automaker says that the reworked 4.0-liter V6 now packs the company’s variable valve-timing technology, helping it churn out a full 270 horsepower. That’s a bump of around 34 ponies compared to last year. Similarly, torque will see a nudge up to 278 pound-feet of twist, though the company hasn’t said where in the rev band those numbers show up. Toyota has been using its twin variable valve timing system on both its 4.6- and 5.7-liter V8s to increase power and fuel economy for years, but this is the first time it has shown up on the smaller displacement six-pot. Hit the jump for the full press release. Gallery: 2011 Toyota Tundra [Source: Toyota] Continue reading 2011 Toyota Tundra gets more powerful V6 2011 Toyota Tundra gets more powerful V6 originally appeared on Autoblog on Fri, 10 Sep 2010 17:29:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments View full post on Autoblog  |
| Travis Pastrana smashes 12-year-old Mt. Washington Auto Road record Posted: 11 Sep 2010 07:35 PM PDT
Filed under: Motorsports, Performance, Hatchback, Subaru, Off-Road, Racing Travis Pastrana sets Mt. Washington Auto Road record – Click above for high-res image gallery Just the other day we mentioned that Travis Pastrana was spotted on Mt. Washington. We were curious if he was going to try and take on the Auto Road. Well, he didn’t just “take it on” – he went after the 1998 record set by Frank Sprongl. The time set back then was a blistering six minutes and 41.99 seconds. Pastrana beat it by 20 seconds. Driving a rally-prepped 2011 Subaru Impreza WRX STI, Pastrana attacked the 7.6-mile long course and slid across the line in six minutes and 20.47 seconds, also beating our own Editor-in-Chief’s time by some 19 minutes. The Mt. Washington Auto Road is 149 years old, features over 100 turns, a one-mile unpaved section and the road climbs from a base of 1,527 feet up to the summit, 6,288 feet above sea level. The average gradient for this road is 11.6 percent. The project is being called the Red Bull Speed Chasers and it seems Pastrana and his crew did just that. The Subaru was prepared by his Vermont Sportscar team and it’s clearly an extremely quick machine. Pastrana, along with officials from the Mt. Washington Auto Road, used this run to evaluate the conditions of the route ahead of the 2011 Climb to the Clouds. The event is scheduled to run June 22-26 in 2011 and marks the first time in 10 years it will take place. It also coincides with the 150-year anniversary for the road itself. Pastrana was quoted as saying:
General Manager of the Auto Road, Howie Wemyss added:
Congratulations are in order to Travis Pastrana and his Red Bull team. Do we spray him down with an energy drink or a bottle of champagne? Continue reading Travis Pastrana smashes 12-year-old Mt. Washington Auto Road record Travis Pastrana smashes 12-year-old Mt. Washington Auto Road record originally appeared on Autoblog on Fri, 10 Sep 2010 09:28:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments View full post on Autoblog  |
| 2011 Nissan Xterra, Pathfinder, Frontier and Altima pricing announced Posted: 11 Sep 2010 07:31 PM PDT
Filed under: Car Buying, SUV, Truck, Nissan, Off-Road 2011 Nissan Xterra – Click above for high-res image gallery You can quit biting your nails waiting for Nissan to unveil pricing information on the2011 Pathfinder, Xterra, Frontier and Altima. The company has just announced that, starting next year, the Pathfinder will start at $27,840 for the two-wheel drive, V6 S model. That marks a $300 increase over the 2010 version. Topped out, the SUV will set you back $42,600 for the four-wheel drive V8 LE. Meanwhile, the base, two-wheel drive Xterra X commands an MSRP of $23,850, which is about $1,100 more than the outgoing model. Option up to the range-topping four-wheel drive PRO-4X with an automatic gearbox, and you can expect to hand over $30,100 of your hard-earned cash. If a pickup is more your flavor, Nissan will let you hop into a Frontier S King Cab two-wheel drive for $17,750, though the topped-out SL Crew Cab with four-wheel drive, long-wheelbase chassis and a V6 engine coupled to a five-speed automatic gearbox will cost significantly more at $31,630. Finally, the company has priced the 2011 Nissan Altima sedan at $19,900 when equipped with a 2.5-liter four-cylinder engine and a CVT gearbox. Look to pay $22,940 for the Altima Coupe and $26,780 for the hybrid sedan. None of the prices above include destination, so you can expect things to be just a bit more expensive by the time you leave the dealer lot with keys in hand. Hit the jump for the full press release. Gallery: 2011 Nissan Xterra [Source: Nissan] Continue reading 2011 Nissan Xterra, Pathfinder, Frontier and Altima pricing announced 2011 Nissan Xterra, Pathfinder, Frontier and Altima pricing announced originally appeared on Autoblog on Sat, 11 Sep 2010 19:07:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments View full post on Autoblog  |
| Mini Countryman rally car shown testing for WRC Posted: 11 Sep 2010 07:31 PM PDT
Filed under: Motorsports, Performance, Europe, Hatchback, Mini, Racing The more we hear about Mini’s quest to run the Countryman in the World Rally Championship, the less and less it sounds like a publicity stunt. The company has just finished testing its prototype rally beater at Prodrive’s private test facility, putting the car through its paces over four days and multiple road surfaces. According to Mini, most of the abuse took place on a tarmac circuit, though the team did spend plenty of time getting the car situated on a few low-grip stages. The R&D was prep for an excursion to Portugal, where the team plans to put the Countryman through a full week of gravel testing. Despite the psycho-swirly camo, Mini says that the racer is currently wearing “an interim body and aero package” while the minds at Prodrive concoct the final lines. It remains to be seen who the company will come up with to helm its high-riding missile. We’re just happy to see Mini back in the WRC. Hit the jump for the brief press release. [Source: Mini] Continue reading Mini Countryman rally car shown testing for WRC Mini Countryman rally car shown testing for WRC originally appeared on Autoblog on Thu, 09 Sep 2010 12:31:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments View full post on Autoblog  |
| Video: Mazda Shinari concept and Kodo-fied Mazda3 make the scene Posted: 11 Sep 2010 07:30 PM PDT
Filed under: Concept Cars, Sedan, Videos, Paris Motor Show, Mazda Mazda Shinari Concept – Click above to watch video after the jump We’re going to go ahead and say it: of all of the companies out there, few demonstrate a command of the concept car quite like Mazda. While most manufacturers seem to be eschewing the concept in favor of thinly-veiled production vehicles, Mazda continues to tantalize the imaginations of onlookers with cars like the Furai. Now, it looks like the company is planning to turn away from its somewhat controversial (read: smiley) Nagare design language in favor of a new theme. Mazda is calling it Kodo, meaning “soul of motion,” and if the Shanari Concept is any indication of what we can expect from future models, we’re sold. Mazda has just rolled out a couple of videos that show off the company’s new look. The first features a CG Shanari rolling through crowded city streets, tunnels and the rolling tarmac of what we assume to be the Japanese countryside. The second gives us an idea of what a Kodo-fied Mazda3 might look like. Hit the jump for a quick look see. [Source: Mazda via YouTube] Continue reading Video: Mazda Shinari concept and Kodo-fied Mazda3 make the scene Video: Mazda Shinari concept and Kodo-fied Mazda3 make the scene originally appeared on Autoblog on Wed, 08 Sep 2010 11:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments View full post on Autoblog  |
| Kia Motors chairman resigns over recalls? Posted: 11 Sep 2010 07:29 PM PDT
Filed under: Hirings/Firings/Layoffs, Kia, South Korea Jeong Sung Eun, the vice chairman of Kia Motor Corporation, has reportedly resigned on the heels of a large recall by the automaker. According to Automotive News, Eun stepped down on September 3 after a global recall sent a total of 85,900 Kia vehicles back to the factory due to faulty wiring. In the U.S., around 35,000 Soul and Sorento models were impacted by the fault, which could cause a short that can result in a vehicle fire. The company is also recalling 18,147 Sorento, Borego and Soul models in China for bad circuit boards. Before becoming the vice chairman of Kia, Jeong served as a president of the company’s production division. As of right now, it’s unclear who will take over Jeong’s duties within the company or what the former vice chairman will do now that he’s stepped down. [Source: Automotive News - Sub. Req.] Kia Motors chairman resigns over recalls? originally appeared on Autoblog on Tue, 07 Sep 2010 13:28:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments View full post on Autoblog  |
| Spy Shots: Jaguar XF will look more like XJ for 2012 Posted: 11 Sep 2010 07:28 PM PDT
Filed under: Spy Photos, Sedan, Jaguar, Luxury 2012 Jaguar XF spy shots – Click above for high-res image gallery The new Jaguar XJ is arguably the best-looking luxury flagship currently available in the United States. That’s quite a claim to stake, but stare at an XJ for five minutes and then study a BMW 7 Series or Mercedes-Benz S-Class – not as pretty, right? Jaguar isn’t oblivious to the fact that it’s created quite a stunner here, and thus, it only makes sense that the XJ’s styling cues will make their way to the smaller XF sedan. Seen here slightly camouflaged, the 2012 XF clearly sports revised fascias, both front and rear. Look closely and you’ll see that the XF’s new headlights and reshaped bumper are similar to what we see on the larger XJ. The taillights out back aren’t getting too substantial of a makeover, but we expect that full-LED units will be in place for the 2012 model year. Don’t expect the XF to get a whole host of changes for 2012 – the small nip/tuck to the exterior is about all we should see. That isn’t a problem, though, because even in not-so-XJ-ified form, we’re quite fond of the XF – especially the XFR. Scroll through the gallery below to see high-res spy photos of the refreshed XF. Gallery: Spy Shots: 2012 Jaguar XF [Source: CarPix] Spy Shots: Jaguar XF will look more like XJ for 2012 originally appeared on Autoblog on Fri, 10 Sep 2010 12:32:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments View full post on Autoblog  |
| New GM CEO Akerson to earn salary of $1.7 million Posted: 11 Sep 2010 07:26 PM PDT
Filed under: GM, Earnings/Financials
In addition to his $1.7 million, Akerson will also receive $5.3 million worth of GM stock, delivered over the course of three years beginning on September 30, 2011. Furthermore, he will receive an additional $2 million in stock under GM’s long-term incentive plan. This may seem like quite a bit, but things are a lot richer (literally) just down the road in Dearborn. Ford’s CEO, Alan Mulally, makes substantially more – he netted $17.9 million in cash and bonuses in 2009 – though this is largely due to the fact that the government bailouts have limited the CEO salary amounts for both GM and Chrysler. [Source: Edmunds Auto Observer | Image: John F. Martin/AFP/Getty] New GM CEO Akerson to earn salary of $1.7 million originally appeared on Autoblog on Fri, 10 Sep 2010 16:01:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments View full post on Autoblog  |
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