The federal government is keeping up its effort to stimulate the economy, while the economy is keeping up its resistance to those efforts. The latest effort to prod spending comes in a bill that, among other things, increases the federal guarantee for small dealer floorplan loans from the Small Business Administration from $2 million to $5 million. Part of the bill would also reinstate fee waivers that ran out in May, meaning loan applicants could save more than $50,000 in fess alone on a $2 million loan.
Federal floorplan assistance has been around for a year, but banks haven’t been receptive and some believe that raising the limit won’t change that. It is customers who are needed to provide the real relief, and in the words of a former Federal Reserve vice chairman, “If the economy grows at one and a half percent, we’re spitting in the wind because there’s no demand.”
The bill passed the House and Senate along party lines and President Obama signed it into law yesterday afternoon. This is expected to be the last jobs bill to leave Congress before the midterm elections in November.
[Source: , sub. req. Image: AP Photo/J. Scott Applewhite]
Morning commute in Russia on a Yamaha R1 – Click above to watch video
Driving to work in the morning can be a tedious and annoying affair. At least, we imagine it is, since we are chained to the wall of a basement staring at a computer screen for 23.5 hours per day. One vehicle that can make any commute quicker is a motorcycle… perhaps even a stupid-fast literbike like the Yamaha R1.
Combine a rider with a need for death speed, a 25-mile commute through Russian traffic and a powerful two-wheeled samurai sword, and you get a showing the “quick” way to work. Sometimes this two-wheeler even becomes a one-wheeler as rare empty stretches of road disappear when the nose goes skyward.
According to our tipster Andy (Thanks!), the title translates to “A couple minutes of my life could be more interesting than the whole life of the other people.” It’s certainly interesting, but we prefer pushing vehicles to our limit on a track. Regardless, the music choice is excellent and the riding would make Trinity jealous. We don’t condone this type of action, but that doesn’t mean we can’t all enjoy the video, which you can watch .
2008 Bugatti Veyron at Barrett-Jackson Las Vegas – Click above to
It’s not very often you see a going up for auction…especially at Barrett-Jackson. Perhaps better known for their muscle cars and classics, the occasional late-model sportscar will sometimes pop up, but we can’t ever remember a Veyron crossing the block. Well, on Saturday night, a on the clock did indeed cross the block at B-J…but things didn’t go quite as planned.
The one-time fastest production car on the planet (it’s been trumped by Bugatti’s own ) might have sold for over $1.8 million new, but was struggling to break the 1 mil mark in Vegas. Heck, it barely got to $700,000. Now, that’s still a lot of money for a car, but it should have brought much more – we’ve never heard of a non-wrecked example going for anywhere near that little. In the end, the Bug went to a guy seated near the stage who outbid a couple of phone bidders – but that’s when it got weird.
Saying that he hadn’t actually bid and then that he was only trying to help, the would-be buyer rescinded his bid… and was promptly escorted from the premises. Barrett-Jackson didn’t want to lose any credibility – so CEO Craig Jackson stepped up and bought the car himself. Just as he was announcing what had happened, he got a phone call from one of the other phone bidders who was saying he’d take the car off Craig’s hands. Quite the little soap opera, but good theater nonetheless. to see the video and take a look at the gallery below as well. Hat tip to Larry!
To say we were impressed by Ford’s latest pickup engines would be an understatement. As of today, Ford officially offers the very best range of powertrain packages in the half-ton pickup truck marketplace.
Exagon Motors’ 340-horsepower, extended-range Furtive e-GT is said to hit 60 in 3.5 seconds with a 248.5-mile electric-only range. The French manufacturer wants to begin production as soon as 2012.
Volvo’s new Pedestrian Detection with Full Auto Brake is under scrutiny after a series of demonstrations for journalists in Australia went awry when an inflatable test dummy was mowed down after the system failed to detect its presence in time to stop.
A group of employees have been in the news lately, causing a bit of a black eye for the automaker. Originally, a Detroit Fox affiliate – by smoking weed and drinking beer. , by identifying and suspending 15 employees who were ID’d in the clip. Now, after taking time to investigate the entire incident, Chrysler has put the hammer down – 13 of the Jefferson North Plant employees have been fired and the other two get an unpaid, one-month “vacation.”
It’s a shame that this happened, but it’s good to see Chrysler respond so quickly. The automaker has issued a brief statement on the matter, which you can read .
Expect to hear the words, “range anxiety,” a lot in the months to come, what with the , and an assortment of other battery-electric vehicles and plug-in hybrids ready to hit the market.
The first generation of battery cars, like Leaf, will likely deliver an average of only about 100 miles on a charge – not much more than the range at which the typical motorist starts to look for a gas station in a conventional automobile.
Actually, that figure is only a rough approximation, as I learned recently while getting ready for my first drive of the 2011 Leaf. Under ideal conditions, I was advised, engineers have traveled as many as 140 miles. But on a cold and dreary day, creeping along in traffic with the heater on full, the little battery car might barely clock 70 miles before its batteries are fully discharged. (Similarly, now cautions that Volt will typically get somewhere between 25 and 50 miles, rather than the oft-quoted 40 on battery power.)
Sure, driving conditions and driver habits have always had a big impact on mileage. Slam the throttle at every light and you might get less than half the fuel economy your new will deliver on the highway. But while that may cut into your budget, the only other downside is having to fuel up more often.
Paul A. Eisenstein is Publisher of , and a 30-year veteran of the automotive beat. His editorials bring his unique perspective and deep understanding of the auto world to Autoblog readers on a regular basis.
Opponents to , otherwise known as the Regulate, Control and Tax Cannabis Act of 2010, argue that if the measure passes on November 2, 2010, the roads will become more dangerous. USA Today quotes spokesman Roger Salazar as saying “there won’t be anything to stop anyone from legally finishing off a couple joints before getting behind the wheel.”
Proponents point to the provisions in the law upholding current laws prohibiting driving under the influence, but Salazar’s group notes a lack of clarity. While the proposal has provisions for the establishment of restrictions, opponents argue that there are no actual standards to determine impairment by marijuana like there is for blood-alcohol concentration.
Law or no, there currently isn’t a way to stop clandestine cannabis use prior to driving, and police departments are burning tax revenue to enforce current drug laws. Federal drug laws remain in place, however, and will be in direct opposition to Proposition 19 if voters approve it. The uproar may be a new wrinkle to the argument, though voters eying new sources of tax revenue may find the monetary potential more compelling.
Volvo V60 Pedestrian Detection test failures – Click above to
Volvo’s new is under scrutiny after a series of demonstrations for journalists in Australia went awry in rather spectacular fashion. During the presentation, an inflatable test dummy was mowed down after the system failed to detect its presence in time to stop. This, despite the fact that the technology was showcased under controlled conditions. The optional hardware, which debuts on the and , utilizes both radar and camera technology to avoid or mitigate an accident with a pedestrian by automatically slowing the vehicle to either a full stop or at least initiating full braking to lower the rate of impact (Volvo: “The system can avoid a collision at speeds up to 22 mph. At higher speeds, the focus is on reducing the car’s speed as much as possible prior to the impact”).
Volvo officials themselves cautioned… that the system may not always detect the dummy’s presence.
According to Aussie motoring website Car Advice, journalists at the demonstration were told by a spokesperson that the system may have been ‘confused’ by a tractor-trailer parked around 30 meters behind the dummy, but the subsequent removal of the big rig still saw two more failures resulting in impacts. According to the same report, Volvo noted that “around 650 media participated in the week-long demonstration – with a claimed 99.7 per cent success rate – the nature of the failed 0.3 per cent of runs appears to be undisclosed.”
Autoblog had the chance to sample this system firsthand at the earlier this month in similar parking lot tests with different dummies. It performed as-advertised for us, though a few other journalists did record failures of their own – though those lapses were evidently at least partially exacerbated by the drivers giving-in to their instinct to tromp on the brake pedal. Interestingly, Volvo officials themselves cautioned us in advance that the system may not always detect the dummy’s presence, in part because it doesn’t mimic the behavior of a human (the Pedestrian Detection system is trained to look for human movements – arms swaying, legs moving, and so on). In fact, when we asked if the system would also detect and activate when animals are in the road, officials said that the safety feature has not yet been trained to do so – it is only capable of registering bipeds.
As you may recall, this is not the first failure of Volvo’s new auto-stop impact avoidance systems. , we told you about another incident in which an S60’s City Safety auto-brake system test resulted in the car plowing into the back of a semi truck. Volvo would apparently later state that the crash was caused by a ‘low-voltage event’ in the car’s electrical system that turned the rear-impact avoidance system off, a flaw that has since been repaired.
Follow to watch videos of the PSD failures as well as an official Volvo video explaining how the system is designed to work.
Maserati Quattroporte Hearse – Click above to watch the video
Remember when we told you about ? We’re not sure if this is one of theirs, but the number of hearses built has to be very low, but that hasn’t stopped some fortunate soul from capturing one in the wild. The video is quick but the car is clearly visible. It’s a rare spotting of a vehicle people are dying to get into (Thank you!Try the veal!).
When you get set to leave this world, you may want to go out in style. Cadillacs and Lincolns are the chariots of commoners. A Mercedes is a step in the right direction. There are some, however, with a privileged palate and serious sense of style, and some of them will doubtlessly opt for coachbuilt Italian splendor. The hearse is a wonderful example of how someone can shoot through to the other side in fine style. Put on your best black suit and to see the video. Thanks for the tip, Monty!
2011 Chevrolet Camaro Convertible teaser – Click above for high-res image gallery
The hammer has fallen on the and the Barrett-Jackson crowd broke out their wallets for it. Final price for the drop-top muscle car? $205,000. Being the first person with a new toy costs money and an affluent fan of the bow-tie will be placing one of the earliest examples of the upcoming convertible in their garage.
products ending up taking three of the top five sales spots. A 1981 Corvette coupe sold for $150,000 and a custom 2010 Camaro coupe brought in $350,000. A pair of exotic supercars finished one and two as a 2009 Mercedes-Benz SLR McLaren convertible cost someone $412,500 and a sold for $770,000. More on that one later…
Is it worth that amount of money to have an early example of a new model like the reborn Camaro convertible? Only time will tell – but we could think of many other ways to spend $205,000, especially in Las Vegas. Regardless, congrats to the new owner, whose family will probably be selling the car at Barrett-Jackson Mars 2060.
Typically, when an automaker and a watchmaker team up, it’s to spec out a special-edition watch. But and Blancpain have already . The two marques are also behind the racing series, which Lamborghini claims is the fastest spec racing series on today’s circuits. The season just wrapped up at Vallelunga, where the two companies took the wraps off the new Lamborghini LP570-4 Blancpain Edition.
The special-edition Lambo is distinguished from the standard model with such unique touches as a vented engine cover and a big rear wing, along with carbon fiber parts, Skorplus wheels and carbon-ceramic brakes. A matte black finish with yellow accents further set its apart inside and out. The most interesting spec however, is the Blancpain Edition’s weight; at 2954 pounds, Sant’Agata lauds it as the lightest vehicle in Lamborghini’s roadgoing range. Couple that with the 5.2-liter V10 boosted to 570 horsepower (like the spec racers) and Lambo claims a 3.4-second sprint to 62 mph from a standstill, topping out a hair under the double-century mark.
We’re on our way to Paris to get a closer look at this among the myriad other excitements making their debut later this week. In the meantime, we invite you to read more about the Blancpain Edition in the press release after the jump and have a closer look in the image gallery below.
2010 Singapore Grand Prix – Click above for high-res image gallery
The naysayers will tell you that every grand prix – especially those held on newer-generation tracks – comes out looking the same. Different scenery, same story, they’ll say. But even the haters were silenced a few years back when the Singapore Grand Prix re-joined the calendar as the first night race in the history of Formula One. The spectacle of the most advanced machinery this side of a fighter jet zipping around a seaside circuit under the lights put a fresh spin on F1, and has now become a regular fixture of the racing season.
Now in its third running, the circus rolled in to Singapore’s Marina Bay against the backdrop of one of the most hotly contested championships in recent memory. Would this year’s night race crown a champion, or defer the suspense for another couple of weeks? Follow the jump to find out.
Infiniti IPL G Convertible Concept – Click above to enlarge image
The first Infiniti Performance Line offering was unveiled at Pebble Beach last month in the form of the . The 348-horsepower G hardtop wears a factory-designed bodykit and came with engine and chassis tweaks to make things slightly firmer and faster. It goes on sale in December.
This week, its droptop brother will arrive at the Paris Motor Show. Infiniti hasn’t announced power output, but we expect the IPL G Convertible Concept will probably be a shade less muscular than the coupe, as is the case with the non-IPL models. The automaker hasn’t given away any hint of pricing, either, but VP Ben Poore did say “IPL promises unique driving attributes from other Infiniti models, without adding stratospheric prices,” if that’s any consolation. Stay tuned for complete details later in the week
Record-setting Suzuki Kizashi – Click above for high-res image gallery
Remember that500+-horsepower that recently went at the Bonneville Salt Flats? The one that Road & Track’s Sam Mitani drove to a new F/BGC record of 203.720? Well, R&T brought it down to Cars and Coffee this weekend and we got our first up-close look at it. Color us impressed.
The exterior features a large air dam up front, Moon discs and a pair of dorsal ridges running along the roof, but other than that, the car looks pretty much stock. Sure it sits a bit lower and it is covered in decals, but it doesn’t look much different from a tuner Suzuki that one might see at this weekly show. Even the engine looks relatively streetable.
Looking inside, you see much of the same – a fairly stock dash and center console, the original door panels, and even the stock steering wheel, albeit with the airbag removed. The biggest mods inside are for safety, with a single racing seat and a roll cage, plus a couple of fire-suppression tanks and a slew of switches and levers to keep everything moving smoothly. The biggest tip-off that this is something a little more special than just a tuner Kizashi is that giant parachute out back. Click below to check out our high-res gallery.
Citroën DS3 WRC teaser – Click above to watch video
, the car they’ve chosen to adapt to the new regulations, will be unveiled at the Paris Motor Show next week. Among the deluge of pics and videos teasing all manner of creations we’ll be seeing on the French floor, the Gallic firm has strung together a few shadowy snippets of the hot hatch that Sébastien Loeb will pilot next year (according to him, his final year) in his attempt to win yet another title. He’ll have to beat the new along the way. to be teased. Hat tip to Dan
Despite packing an all-new, engine, is keeping the price of the 2011 within a stone’s throw of last year’s model. Starting next year, the middle child of the Subaru family will carry a price tag of $20,495 for the 2.5X – around $200 more than the 2010 high-rider. More importantly, the 2.5X will pack the company’s all-new 2.5-liter flat four-cylinder engine, complete with chain-driven dual overhead cams, 170 horsepower and 174 lb-ft of torque. Curiously, those numbers are nearly identical to what the old mill churned out, and the new powertrain’s 21/27 mile per gallon city/highway fuel economy estimates are only one mpg better than the 2010 model equipped with an automatic gearbox. Harumph.
Meanwhile, the company is throwing in an additional trim level. Buyers who opt for the Touring versions of the Forester will be met with niceties like an automatic transmission, HID headlights and dual-zone climate controls, among other goodies. Prices start at $27,995 for the 2.5X Touring, though the package can be fitted to the turbocharged XT for a bit more change.
Speaking of the XT, Subaru says that the forced-induction Forester will continue to get its grunt from the same 2.5-liter four-cylinder as last year, so don’t look to see any more power come from that mill. for the press release.
Just when you thought there wasn’t any more news to be drained from Stig-gate, Ben Collins has come out and announced his favorite car from his time beneath the white helmet. Surprisingly enough, it’s not some high-dollar sports machine. Instead, Collins says that the most fun he ever had behind the wheel while employed with the BBC was in a Aygo. He and a gaggle of other race drivers spent an afternoon playing car soccer with the Aygo, and after a full day of abuse, the little Toyota just kept on chugging along.
But if Collins is choosing a piece of high-end metal to adore, the guy said that the Super Sport helped form some of his best memories of Top Gear. Yeah, we can see that one.
The former tame racing driver’s least favorite car? Well, that’s a surprise, too. That honor goes to a Koenigsegg. Collins infamously binned one of the ultra-rare machines during shooting – the only car to suffer damage while in his care. Videos of both segments are available .
Publisher HarperCollins plans on releasing Collins’ autobiography, The Man in the White Suit: The Stig, Le Mans, The Fast Lane and Me soon. Thanks for the tip, Kris!
Plenty of us that grew up around a drag strip know the name Mickey Thompson, but fewer of us realize that the guy was more than a name on the sidewall of some seriously sticky rubber. He was also responsible for setting plenty of land-speed records in his day, including being the first guy to break the 400 mph barrier on the salt. His son, Danny Thompson, is no slouch behind the wheel, either. Last year, the younger Thompson managed to set the fastest land speed for any . With a supercharged 5.4-liter V8 swilling down E85, the Thompson clicked off 252 mph, and this year, he’s going back for more.
Danny Thompson will attempt to waltz past the 300 mph barrier with another Mustang owned by Brent Hojek. This car, like the last, will run off of E85, but will pack somewhere close to 1,300 horsepower. The new pony also wears soy-based carbon-fiber body work and unique soy-based yellow paint in an attempt to ecologically justify a supercharged V8. Hey, we aren’t complaining. Head over to for a closer look at the blown 5.4-liter.
