When sold and to Tata Motors for $2.5 billion, the auto industry was in rough shape. And it didn’t help that the luxury combo pack didn’t exactly have a lineup full of fresh rides.
Only four years have past since that historic sale, but the industry is in much better shape and new vehicles like the and have seemingly done wonders for the luxury brands. In fact, Tata’s investment may be in much better shape than most anyone would have thought. According to Bloomberg, analysts predict that an Initial Public Offering could show that the brands are worth a combined $14 billion.
That’s a monumental return on investment, and there are plenty of reasons for the lofty estimate. Tata reportedly earned $2 billion off JLR in 2011, and sales are at all-time highs. The brands are also expecting major growth in China and Russia, and Tata has promised to double its investment in new products. Tata has also pledged 40 new or refreshed models in the next five years, which is likely more new metal than some full-line manufacturers would be willing to promise.
But while JLR is apparently worth an estimated $14 billion, it appears that Tata isn’t quite ready to issue an IPO. Company spokesman Debasis Ray told Bloomberg in an email that Tata is planning to fund the brands through internal cash accruals.
We for the coming-some-day-but-not-anytime-soon Acura NSX starring Jerry Seinfeld, but we really wish it would have popped back onto our radar for a different reason than this. (Like a production announcement from .) TMZ is reporting that when the commercial was cast, the ad the agency responsible had sought an African-American actor to play the car dealer who was, “Nice looking, friendly. Not too dark.” And the website has a copy of the document to prove it.
To paraphrase one of Seinfeld’s catch phrases: “Yes, there’s everything wrong with that.”
While we’d like to think that some day the obvious interpretation might be that the casting director was referring to the actor’s mood, clearly that’s not the case here. TMZ says an unnamed source associated with the commercial told it that “not too dark” had something to do with lighting and special effects, and we hope that’s true. Still, the way the brief description reads, it certainly sounds like whomever was casting the spot thinks dark-skinned people are neither nice nor friendly.
We’re not about to throw Honda under the bus – it was, after all, an outside ad agency named RP& that shot the ad, according to Motoramic – as the automaker apologized, issuing the following statement:
We apologize to anyone offended by the language on the casting sheet used in the selection of actors for one of our commercials.
We sought to cast an African-American in a prominent role in the commercial, and we made our selection based on the fact that he was the most talented actor.
The casting sheet was only now brought to our attention. We are taking appropriate measures to ensure that such language is not used again in association with any work performed on behalf of our brand.
While we’re glad to see Honda react promptly and properly, re-watching the commercial gave us further pause: If Honda indeed sought to cast an African-American in a prominent role, did it consider an African-American for the part of the guy who’s first on the list for the NSX, as opposed to the salesperson?
The minds at Car and Driver recently took a moment to speak with Robert Davis, senior vice president of U.S. operations, about the automaker’s plans for the future. According to Davis, the rotary engine will continue to play a role in the company’s products moving forward, with engineers applying the lessons learned through the SkyActiv program to the powerplant. That means the next-generation rotary will likely feature reduced internal friction and lightweight internals in a quest to reduce emissions and increase fuel economy. But the engine may find applications outside of its traditional role.
Not only is Mazda pursuing a rotary engine to power a vehicle, Davis admits Mazda is also investigating ways to use the design in tandem with an electric motor, with the pistonless engine responsible for charging an extended-range EV’s batteries. Given the compact size and relatively low torque supplied by a rotary, this application would seem to hold promise. Of course, we’ve heard .
And what of a SkyActiv V6? Davis makes it clear there’s no room in the SkyActiv stable for a six-cylinder, saying that the company will focus on lighter platforms and forced-induction four-cylinder engines instead.
After years of doing without a grand prix in the United States altogether, Formula One is gearing up to return to these shores in a big way. The United States Grand Prix is set to take place later this year at the newly constructed Circuit of the Americas in Austin, Texas. And next year, the Grand Prix of America is scheduled to join the calendar in New Jersey, just across the river from Manhattan. But will the Jersey race be ready in time?
According to the latest reports, that second grand prix in the U.S. could be pushed off until 2014. This according to a quote attributed to Bernie Ecclestone, the man who orchestrates the commercial aspects of the sport – including where the races are held.
While he was at it, Ecclestone also reportedly indicated that the French Grand Prix will be back on the calendar within the next couple of years. But rather than holding it at Magny-Cours where it was held from 1991 through 2008, the renewed French Grand Prix – absent from the calendar every year since – will go back to the Paul Ricard circuit where it was held in the 70s and 80s (a track which Ecclestone just happens to own himself).
The arrangement will, according to reports, alternate year-to-year with the Belgian Grand Prix at Spa.
is not going to take attacks on the electric car lying down – the closest he’ll come to that is . After spending for their attacks on the , he is switching to a positive message about how plug-in cars can help with American national security. It is not surprising that Lutz, a former Marine, co-authors the article with two former U.S. Marines commandants and the CEO of FedEx (the three are all members of Securing America’s Future Energy’s (SAFE) Energy Security Leadership Council). The gist? Well, here’s part of the opening paragraph:
When … threats exist because the United States is the protector of the world’s global oil supply lines, it is a clear illustration of how our nation’s over-reliance on a single, globally priced fuel impacts our national and economic security.
America’s addiction to gasoline costs the government billions of dollars a year, an estimated $80 billion, in fact, to guard the sea lanes, including one little area by Iran:
From a national security perspective, the U.S. military is forced to protect the world’s vital oil infrastructure. The single greatest chokepoint is the Strait of Hormuz, through which 17 million barrels of oil per day passed in 2011 – 20 percent of global supplies. Protection of the sea lanes of commerce has become an American burden and will remain so, costing the United States Treasury an estimated $80 billion per year while taxing our military, which is already engaged on multiple fronts.
It’s arguments like this that have made the recent right-wing criticism of the Volt such a mystery. If we use less gasoline, we can spend fewer lives and less treasure importing the fuel (of course, we don’t lose many lives at the Canadian border, which is where most of our imported oil comes from). The Army says that .
Lutz and his co-authors are quite clear that high gas prices are hurting Americans’ pocketbooks, “essentially” wiping out tax cuts that Presidents Bush and Obama put into place. That’s why, they say, “government action is needed to mitigate the risks of oil dependence, because there is no free market for oil.” This intervention contains both expanded domestic production and – surprise – plugging in our light-duty transportation fleet as much as possible and feeding our big trucks lots of natural gas. To that end, they write:
Regarding electrification, the beauty of plug-in hybrids and pure electric vehicles like the Chevy Volt and the is that they are powered by electricity, which can be generated from many sources: nuclear, coal, natural gas, and renewables. Best yet, these are all domestic energy sources, meaning OPEC won’t be able to corner the market. And the retail price of electricity is far less volatile that the price of oil.
Cadillac’s and are two of the most distinctive designs to come out of a mass-market brand in some time, and we’re big devotees to both here at Autoblog. Predictably, the two models attract a much smaller slice of the North American market than the four-door sedan, but says it remains committed to offering both a two-door and a load-lugger in its lineup. However, that doesn’t mean such future models will wear badging.
According to Car and Driver, Cadillac is undecided, but one or both bodystyles could migrate to the smaller platform. While neither of the two CTS variants has been any great shakes sales-wise (Cadillac does say the wagon has outsold its equivalent), the models are seen as important tools to woo shoppers – conquest sales in particular.
We might add that since General Motors remains committed to the idea of making Cadillac a global brand, a smaller coupe and wagon model could give the marque entry into larger volume segments in Europe. For its part, C/D expects Cadillac to position a coupe between the ATS and next CTS, mimicking pricing and hierarchy strategies at and , . The publication also predicts that a wagon will stay in the CTS family, as it “better meets the needs of older, richer luxo-wagon buyers,” noting that ATS wagon intenders could likely be wooed into the anyhow.
What do you think? Leave your musings in Comments.
There’s an old newspaper adage that dictates: “Dog bites man” is not news. “Man bites dog,” now that’s news. In other words, the subversion of the usual order of things is what sells papers. And you might say the same about . A Caddy getting bigger, by that logic, is hardly news, but a Caddy getting smaller sure is.
That’s what makes the new such a big step for the top-end of the brand portfolio. Occupying the place once taken by the Catera (which led to the ), that model now has to kick up a size to make room for its new baby brother. And so it appears to be doing.
These spy shots show what our intrepid auto paparazzi say is the next-gen CTS, applying the same Art & Science design language to a slightly larger form that’s expected to switch from the Sigma II platform to a stretched version of The General’s new rear-drive Alpha architecture.
In between the camouflage we can make out a new grille, projector headlamps with LED daytime runners, with radar sensors aplenty and dual exhaust tips around the back. Sources expect a 2.0-liter turbo four to come in with 270 horsepower as the base engine in the new CTS, with the 3.6-liter V6 also expected to be on offer as well as a turbo six sometime after production kicks off at Lansing Grand River Assembly in September 2013.
The National Highway Traffic Safety Administration (NHTSA) has issued a bulletin for the recall of the 2010 Can-Am Spyder RT to rectify an issue with its brakes. A pin in the brake pedal connecting rod on 3,259 units potentially affected could come loose; if that happens, total loss of braking is possible.
Bombardier Recreational Products, maker of the three-wheeled Can-Am Spyder, is notifying owners. Dealers will replace the pins in question free of charge. for the official word and more information from NHTSA.
Ward’s AutoWorld is well known for its annual list, but the trade publication has been compiling a second list for interiors for a few years now. Formerly known as the competition, Ward’s rebranded the list last year, naming the coolest cockpits under the “10 Best Interiors” moniker.
This year’s winners are a relatively diverse lot, with hatchbacks, sedans and crossovers all making the list. While Ward’s lists them in alphabetical order rather than crowning a single winner, we’re choosing to present them with the lowest as-tested MSRP first:
($15,925)
($18,745)
($21,485)
($25,195)
($30,415)
($36,875)
Luxury ($44,855)
($49,745)
($54,800)
($67,430)
The first thing we noticed then is that while fully half the models carrying base sticker prices under $25,000, Ward’s was clearly not testing the base models of any of these vehicles. The Chevy Sonic, for instance, starts nearly $5,000 below the price of the car Ward’s drove. Even so, that half of the cars on the list could be legitimately called “affordable” is impressive.
Ward’s says 40 vehicles qualified for the competition by having “new or significantly improved interiors,” and while 13 of those were luxury vehicles, they only made up half of the winners. Ward’s says it judged the interiors based on design, fit-and-finish, comfort, ergonomics, safety, material selection, overall value, aesthetics, and human-machine interface.
Check out all the award winners in our high-res image gallery above.
engineers have worked hard to get the emissions that come out of the tailpipe of the down to a low level, but that doesn’t mean everything is copacetic with the car’s exhaust system. To fix a known problem, Toyota has announced a service campaign for the Prius V, both in the U.S. and Japan.
TheWall Street Journal reports that the problem is with “weak actuators-control mechanisms” in the exhaust-heat-recovery systems that can end up leaking engine coolant, which will then force the car into a “safe” mode. Some second-gen, 2004-07 standard Prius models were affected by a similar problem in the past.
The new issue affects about 8,000 vehicles in Japan and 20,000 in North America. Prius V owners will get the problem fixed for free.
Citroën has finally given the world a closer look at the company’s next DS design study. The French automaker is set to introduce the DS line to China this year, and the Numero 9 design study is set to mark the occasion. Citroën will officially unveil the concept at this month’s Beijing Auto Show, and the manufacturer says the low-slung hatchback’s design hints toward future products, namely a premium c-segment sedan, an SUV (read: crossover) and a larger D-segment four door. All we know is, it looks damn good.
The Numero 9 shooting brake is powered by a plug-in hybrid drivetrain that offers a 31-mile electric range and 295 horsepower. Not too shabby. for an artsy video of the concept as well as the full press release. Of course, you can also sink your teeth into the dizzying slew of photos in the gallery above.
So how’s this for a way to celebrate National Robotics Week? has dug up some photos and press releases from the late 1960s featuring “Freddie Ford,” a quasi-robot made out of auto parts that entertained crowds on the auto show circuit.
To our modern sensibilities, Freddie barely qualifies as an appliance, let alone an actual robot like Asimo from , MABEL from the University of Michigan, or Robonaut from General Motors and NASA. From reading the press releases, we gather that Freddie mainly responded to questions from the audience with corny answers that touted Ford’s products.
Question: “Are those oil pans really your feet?” Answer: “Yes, sir, these are 390 V-8 oil pans from the biggest V-8 that uses only regular gas.”
While Freddie is amusing enough, the real treasure here are the press releases from an era in which Ford could do no wrong. To read the casual mentions of the company’s victory at Le Mans with the GT40 and the launch of the original Cougar is a real treat.
for the vintage press releases and check out both the Freddie Ford photos in our .
Rally driving is so reliably mesmerizing that we never lack for viewers when we post rallying footage, especially when raw engine noises accompany the raw talent. Yet we rarely come across videos that take a deeper look at who races, the private lives of privateers and the urge to ‘run what you brung’ through quiet forests with few spectators and less money. Motorsports filmmaker wants to change that.
Johnston has started a Kickstarter campaign to raise funds for Easier Said than Done, a full-length feature on what might be the dirtiest side of rallying – finding the money and staying in the game. He isn’t trying to fund the whole project itself, he says it’s going to happen anyway. What he wants is more capital to hire equipment and crew.
for the trailer and check out for a breakdown of the project.
The National Highway Traffic Safety Administration has announced plans to update the agency’s current vehicle safety standards. In order to protect drivers in the event they depress both the accelerator and the brake pedal at the same time, automakers will be required to install a bake-throttle override on new vehicles moving forward. The hope is that the systems will curb instances of unintended acceleration. The new standards will apply on all cars, trucks and buses regardless of weight. NHTSA says many manufacturers are already including similar systems on their products.
The update will replace Federal Motor Vehicle Safety Standard No. 124, Accelerator Control Systems. The public has 60 days to comment on the proposed change, which may be viewed in full PDF form .
Early last year, NASA engineers found no electronic cause for the claims of unintended acceleration levied at . The report prompted Transportation Secretary Ray LaHood to blame the cases on “pedal misapplication.” for the full press release.
If wants to test out a new vehicle at speed – and you can usually bet that at any given time Porsche will be testing a new vehicle at speed – it’s got miles and miles of Autobahn at which to do it. Not enough? There’s the Nürburgring and all of its myriad turns and changes in surface. It’s also got at its disposal. But considering the quantity (and, for fans of the company’s products, quality) of Porsche’s vehicles, even that’s not enough. So what’s a sportscar manufacturer to do? Get a track in Italy, of course. And that’s just what Porsche has done.
Announced just today, Porsche has acquired the Nardo Technical Centre from Prototipo SpA, the Italian firm owned by Gian Mario Rossignolo (who has been hard at work reviving the De Tomaso marque). Now if the name Nardo rings a bell, that’s because it’s known for its 7.8-mile banked oval capable of handling high-speed runs in excess of 200 mph. But it also has a 3.8-mile handling circuit where a variety of automakers and tuners like to test out their prototypes.
And starting next month, they’ll need to rent space from Porsche (whose 918 Spyder prototype is pictured above undergoing testing at Nardo) to do so, assuming Porsche is willing to rent out the space. Something tells us that sister brands under the umbrella like and won’t have too much trouble getting some track time, though. Sroll down for the official announcement.
High gas prices burning through your checking account faster than a through premium? At least one analyst the pressure might drop soon. , senior analyst for thinks fuel prices have peaked for the year, with the national average sitting at $3.92 for the last week. According to USA Today, DeHaan expects average national gas price to fall to $3.70 before May.
If you’re the type to send Thank You cards, keep in mind all those owners who have sacrificed driving pleasure for greater fuel economy, and the leadership in who have kept things kind of quiet over there for a few days. Depending on your political bent, you can also thank either the and/or for fostering a slow economy. All those elements contributed to lower oil prices and, in turn, lower gas prices. In contrast, the Federal Energy Administration is still predicting a $4.01/gal peak next month.
Either way, don’t rush out and buy that gas-guzzling supercar just yet. Any number of factors could send fuel prices flaring. Meanwhile, enjoy your cheap, $3.92/gal regular while it lasts.
Because new wheels ain’t cheap, and spray paint isn’t permanent enough, Foliatec offers vinyl .
For only about $65 (plus shipping from Germany) a can, any kustom kar owner can get all fast-and-furious on their wheels, mirrors, bumpers, vinyl tops, dashboards, ex-girlfriends, etc. – pretty much anything metallic or plastic.
Foliatec says the “rubber-like coat” is fairly durable and protects whatever it covers. And when you tire of looking like a Vin-Diesel-wannabe, the street-racer “green silky matt” easily peels off to instantly return $500 to the resale value of your pocket rocket. Or choose one of the other two spray vinyl colors available: anthracite metallic and black matt. Either should last you well into your mid-20s.
Formula One has many homes: the Formula One Management company that controls its commercial aspects is based in London, the FIA that governs its sporting aspects is based in Paris, and you’d certainly have a point to make if you asserted its spiritual home was in Monaco. But none of these places are where its stakeholders are looking to float its Initial Public Offering. No, that place is Singapore.
CVC Capital Partners – the investment group that owns the majority of Formula One – has been toying with floating an IPO on the Singapore Stock Exchange for several weeks now, and according to reports is gearing up for the move. Both Bloomberg and Reuters are expecting that the stock issue would constitute about 20% of the business, likely to come mostly out of CVC’s end which amounts to 63.4 percent, and not that of its manager Bernie Ecclestone whose stake comes to 5.3%. (Lehman Brothers holds another 15.3%, Ecclestone’s ex-wife Slavica owns 8.5%, with the remaining 7.5% divided up between various minority investors.)
With the overall value of the business estimated at $10 billion, the 20% tipped to be offered on the open market is expected to bring in $2 billion in capital for its sellers, however CVC could opt for the minimum 15% to raise $15 billion. So… why Singapore? The vital Asian business capital has apparently been chosen to help F1 drum up support in the Far East, a region where grands prix are held in Malaysia, China, Japan, South Korea and Singapore itself.
How’d you like to go see Metallica at this summer’s Orion music fest? Sounds good to us, but this makes it even better; the cost: Free.
Yes, that’s right, if you’re into the hot rod and custom scene and you want to display your car or bike there, the band will comp you two passes to the weekend’s festivities. It turns out that besides being the lead singer of Metallica, James Hetfield (that’s him in the picture above) is a big car guy. One who wants to share his automotive passion with his legions of fans, hence the Custom Car and Motorcycle Show planned as part of the two-day Orion festival, scheduled for June 23-24 in Atlantic City, NJ.
To stock the 300-plus field of cars and bikes Metallica has planned, they’re looking for entries and dangling the aforementioned free tickets as bait. Entry is restricted to 1972 and earlier American models and the deadline is May 15. (Full details are available at the Orion .) It won’t be Pebble Beach, but hey, we’re pretty sure there’s more fun to be had headbanging to “Metallica” (a.k.a. The Black Album) and “Ride The Lightning,” which the band will be performing in their entirety on consecutive nights, than standing around on a golf course in a blue blazer anyway. If Metallica isn’t your bag, the Orion festival will also feature performances from acts like the Arctic Monkeys, Avenged Sevenfold, Modest Mouse and comedian Jim Breuer.
to watch a video of Hetfield talking about his love of classic cars.
Do you miss the opportunity to buy a Volkswagen Scirocco? You’re not alone. Of all the Group products offered overseas but not in these United States, the Scirocco tops our list. (Though we understand there are plenty out there pining for a Transporter van.) Discontinued in its previous iteration in 1988, the Scirocco made its triumphant return to the market in 2008, but with the global financial crisis setting in around the sometime, Volkswagen wasn’t up to spreading itself thin enough to bring it here.
That could change with the next-generation model, however. According to Automotive News, Volkswagen is working on a next-generation Scirocco, and this one could very well make it Stateside. This according to Volkswagen of America CEO Jonathan Browning, who admitted as much while speaking with journalists at the this past week. While it’s unclear if he’s referring to a facelifted version of the current model (expected to launch next year) or an all-new model, the prospect of finding a Scirocco – any Scirocco – in U.S. showrooms is tantalizing.
While he was at it, Browning reportedly also suggested the – which was shown in “concept” form in New York – could be sold here in diesel form, which strikes us as tantalizing (if expensive). Further, Browning reiterated that the company is looking into a mid-size crossover to slot in between the and the , something we’ve heard before and fully expect to happen.
