You wouldn’t think $7.7 million is something to complain about, but then again, you’re probably not in the running to be CEO of General Motors. Despite the fact that GM is no longer the largest company in the world – or, depending on whom you ask, even the largest carmaker – it’s a big job. On most days, we imagine it’s a pretty thankless one too. So when you compare the salary of GM CEO Dan Akerson to that of his cross-town rival at , perhaps $7.7 million does seem like chump change compared to Alan Mullaly’s .
And according to a report in The Detroit News, GM apparently isn’t happy to see its CEO sitting in third place among Big Three CEOs when payday comes. GM’s proxy statement filed with the Securities and Exchange Commission yesterday said that the company is having an “extremely difficult” time hiring qualified executives because of limits to compensation set by the U.S. Treasury Department. The Treasury has capped the amount Akerson and other execs can make as part of GM’s 2009 bailout.
Here’s a thought: Maybe GM just needs to do a better job emphasizing all the benefits that come with working for the General, like getting to drive a gratis.
The new Opel minicar has been so long in gestation that it has worn three names (so far). From the Junior and Allegra, we are now being told that it will now be called the Opel Adam, no doubt a nod to company founder Adam Opel.
Still clothed in enough camo to hide a barn, we can’t tell much about how it looks, but with the latest spy shots we do know its sporting chops have been tested at the Nürburgring. That’s a necessity since a longer version of the Adam’s platform will go under the next Opel/Vauxhall Corsa. Beyond that, we aren’t sure what will power it at launch but three-cylinder engines co-developed with are . The electric version, however, .
At 3.70 meters, the Adam extends 15 cm beyond the Volkswagen Up! but is smaller than the Opel Agila. It is expected to go on sale in the Spring of 2013 for a base price of under €10,000 (Roughly $13,000 USD). If it does, that would be a turnabout from last year when former Opel chief Nick Reilly said the “Junior” and cost more than the larger Agila, which currently ($14k), but still wouldn’t to the .
Stay tuned, for those and other mysteries will begin to be solved on May 8, which is when Opel will officially announce the car. So the rumors say. The showcase reveal will come at this year’s .
We’ve had the good fortune of getting up close and personal with quite a few of Icon 4×4’s creations, from their off-road wares like the and to one-off restomod hot rods like their . While few people may be able to afford the company’s offerings, the creativity and thought that goes into each of their vehicles is something everyone can appreciate.
We have a particular affection for Icon and its latest project, the Bronco. We went for a brief drive in the very first example just before it made its debut at last year and fell in love with every detail of the modernized off-roader. Every trim piece on the car has been laser cut or machined from stainless steel. The unique gauge cluster is inspired by Bell & Ross watches. The interior aluminum is the same found on the inside of luxury skyscraper elevator doors. The Icon Bronco is capable of proving its worth both on and off-road too, thanks to an Art Morrison chassis, custom-built Dana 60 and 44 solid axle assemblies, and a 5.0-liter V8 under the hood.
Jonathan Ward, creator of Icon, recently invited a documentary filmmaker inside his facility to take a closer look at the Bronco. The resulting film will give you a better idea of what went into developing the Bronco as well what makes Ward tick as both a designer and a builder. If you’ve like any of Icon’s creations, it’s definitely worth a watch. Just and hit play.
Three years ago, released the documentary Truth in 24 highlighting its three-car effort at the 24 Hours of Le Mans. Despite the Four Ring’s success at the race in the last decade, they were undoubtedly the underdogs to the much faster Peugeot teams that year, making for a Hollywood-like ending when Audi managed to take home the victory with teamwork and a little help from the weather.
The first film was such a success that Audi , once again featuring their three-car team battling Peugeot at the world’s most famous endurance race. We’re fully expecting the film to be packed with drama, as last year’s 24 Hours of Le Mans was one of the most action-packed and closest races of all time. Two bad crashes ended the race for two of the Audi teams, leaving a single R18 TDI to battle the Peugeots.
Sadly, with Peugeot having quite suddenly in January, it will also be the last such battle at Le Mans for the foreseeable future – all the more reason to watch the documentary when it comes out in a few weeks. For now we just have the trailer, which you can watch by .
And now for some good news from : it is doubling the run of its limited edition Spirit R, adding 1,000 more units to production due to demand. Announced late last year, this Japan-only model celebrates the end of the RX-8’s nine-year existence. The final Wankel-engined four-door is scheduled to roll off the line in June.
The Spirit R doesn’t skimp on the extra trim bits inside and out, with larger brakes clamped by red calipers, piano-black transmission tunnel trim, Recaro Sprint R bucket seats, leather-wrapped steering wheel and an enhanced traction control system among the bonus features.
Both automatic and manual transmissions are offered, but takers have gone decisively for the row-your-own cogswapper, making up 66 percent of orders. Compared to the automatic, they receive larger 19-inch wheels on lower profile tires, a “hard suspension,” alloy pedals and aero bits. for the press release with more details.
What a difference a few years make. Back in 2009, Ford Motor Company’s North American operations were dragging down its earnings. The company reported a net loss of $1.4 billion in that year’s first quarter when market share in the U.S. was falling but rising overseas. The situation today, however, is the mirror opposite.
Today reported a first-quarter net income for 2012 of $1.4 billion on the strength of sales in the States. While that’s a 180-degree turnaround compared to the same quarter in 2009, it’s still a decline in earnings compared to the $2.6 billion earned just last year. This time, however, the blame for the fall lies with Ford’s operations in Europe and Asia.
In Europe, Ford reported an operating loss this quarter of $149 million, blaming the continent’s shrinking markets and weaker demand for parts and accessories. The company’s Asian operations reported an operating loss of $95 million, which can be attributed more to investments in new plants for increased production than shrinking sales. Ford attributes the rest of its losses during the first quarter to higher tax expenses and special charges.
Fortunately, Ford’s North American operations were able to offset most of the company’s losses elsewhere. The region reported a pre-tax operating profit of $2.1 billion, up from $1.8 billion last year and the highest quarterly profit here since 2000. Revenue in this region alone was $18.6 billion, up $700 million from the same quarter last year and the largest chunk of the automaker’s global quarterly revenue of $32.4 billion, which was down $700 million.
The breadth and scope of the Chinese car market has ballooned to such an extent that it makes sense for many foreign automakers to design cars specifically for China. Case in point: the new Renault Talisman.
Instead of building the Talisman in China through a joint venture, manufacturing is handled in nearby Korea by Renault Samsung Motors – the same division that has already brought Renault eight awards and sales increasing fourfold since 2009 due to the success of the Koleos crossover.
As for the Talisman itself, Renault has releases suspiciously little information, and even less photos. It’s billed as a “casual luxury” sedan, whatever that means, but more than that we couldn’t tell you. Which is just fine, because unless you live in China, you’ll probably never see one. Feel free to peruse the press release .
When the all-new recently, was still awaiting official EPA certification for fuel economy. Now, though, the numbers are in, and the Blue Oval can confidently state that it offers the most fuel-efficient vehicle in the small crossover segment… with an automatic transmission, that is.
The hero engine for the new Escape is Ford’s new 1.6-liter EcoBoost inline-four, offering up 178 horsepower and 184 pound-feet of torque. Combined with a six-speed automatic transmission, this engine is good for 23 miles per gallon in the city and 33 mpg highway, besting the highway numbers of the , , and others. At 33 mpg, this means the new Escape is not only more efficient than the outgoing four-cylinder model, but it bests the numbers of the old , too.
But again, this only pertains to automatic transmission-equipped vehicles (the Escape does not offer a manual transmission with any of its powertrains). The with its 2.0-liter Skyactiv inline-four and six-speed manual ‘box is rated at 35 mpg highway, but opting for the six-speed auto drops that number to 32 mpg.
The other powertrains offered in the Escape are returning some pretty impressive fuel economy numbers, too. The naturally aspirated 2.5-liter base engine is rated at 22/31 mpg, and the range-topping 2.0-liter EcoBoost with 240 hp and 270 lb-ft of torque is good for 22/30 mpg. for the full details in Ford’s press release.
Say goodbye to the Maserati Kubang, and say hello to…well, we don’t know what it’ll be called yet, but we’ll be seeing it come January 2014.
According to Automotive News Europe, will unveil the production version of its SUV – complete with a new name – at the 2014 , a little over a year and a half from now. In the meantime, however, the Kubang concept (pictured above) that previews its form will be put into retirement.
This after the concept has made the rounds on the international circuit including the (where it was first unveiled back in September), in Dubai (where it was shown to a large portion of its target market), at the (near where it will be built alongside the on which it is based, with engines shipped in from Italy) and at the , where it is currently on display for what is reportedly the last time.
One day, someone will make a list of all the unique special-edition Pagani Zonda models and all the one-off one-offs produced over the past few years. It’ll be a gargantuan task, because there have been many of each, and we suspect that we only hear about some of them. And you can bet that most of the buyers ordering them have little to no idea how to get the most out of their new rides. However, if new reports prove accurate, the Modenese atelier’s latest customer sure will.
That customer, according to reports, is one Lewis Hamilton. The 2008 Formula One World Champion has reportedly ordered his Zonda (dubbed 760 LH) with 760 horsepower – the same output as the we reported on a couple of weeks ago – 20 more than the track-spec Zonda R and 90 than the Zonda Cinque. And what else did Lewis ask for on his? A manual transmission. Apparently he has enough time with paddle-shift gearboxes at work. Solid.
In addition to the McLaren grand prix cars he drives “at the office,” Hamilton’s also got a very rare upon clinching the World Championship, and something tells us that he’s got a new MP4-12C waiting for him at home, too. Bringing a Zonda home, then, to park beside them would be high praise indeed.
SpeedTV has piped Le Mans racing action to American television sets since 1995, and with the signing of a new multi-year television deal, the annual Frankish displays of 24-hour madness will continue to have a home on the cable network. The length of the deal wasn’t disclosed, but it does include expanded digital rights, which we’ll hope is network code for “live streaming.” Now you know where to turn on June 16.
And in case you didn’t know, the channel also for 30-minute recaps of each day’s action this year, starting with this weekend’s Rally Argentina. It will also be covering the MotoGP race in Spain this weekend and live-streaming qualifying on Speed2. So double hurray and yay for SpeedTV emerging yet further from its NASCAR shell.
Watching television news can be depressing. Between the political rancor of election season and the “if it bleeds, it leads” mentality of most news directors, positive stories are scarce. But here’s one that should make any lover of fine automobiles pleased.
The story, as reported by CBS This Morning, starts when the owner of a Los Angeles-based rental car company that specializes in exotics and luxury cars noticed that one of his vehicles was uncharacteristically sitting still for a few days after being rented. The $2,000-per-day 2010 was equipped with a GPS tracking system, and the Italian Stallion’s lack of use made Eric Blumberg suspicious. So he notified the police, who eventually found the car – in Hong Kong. It had been shipped through the Port of Los Angeles, labeled as “used fitness equipment,” according to the Los Angeles Times.
It seems that the would-be joyrider who had “rented” the was part of an international crime syndicate worthy of a screenplay, according to the CBS report. When the police investigated further, they found between 15 and 20 other vehicles that were being loaded into shipping containers and exported to Asia, a total of $1.5 million worth of four-wheeled loot.
The investigators told CBS that the vehicles can command up to twice their value overseas. While no arrests have yet been made in the case, at least these cars now have a chance of being returned to their rightful owners.
Whenever Consumer Reports weighs in on the automotive landscape, we’re always eager to hear what its editors have to say. We value their opinions, not because we necessarily agree or disagree, but because CR plays it straight. And sometimes, amidst all the folderol spewed about new models in the pages of car magazines and on the myriad websites devoted to automotive minutiae, it helps to read someone write things like this:
Overall, CR’s testers found the is functional and easy to live with, if not particularly exciting to drive. The Touring… is more athletic and engaging to drive, thanks to its agile handling, taut cornering, and responsive steering.
Now this may strike most of you as nothing more than CR displaying its usually astute command of the obvious. But it reads that way for a reason – call it art imitating life. So when the mainstreamers read that the CR-V narrowly beat out the CX-5, it will not just reflect the reality of a market in which the brand lags well behind , but confirm their worldview. The Honda CR-V will continue to appear on the magazine’s “Recommended” list, while the jury will await reliability reports before nominating the Mazda CX-5.
The sun will rise in the east and set in the west.
To read CR’s full press release, which also spills the beans on the June issue’s head-to-head test between the and , as well as road tests of the hatchback and , . We also have the magazine’s video reviews of the crossover pair in video form, so .
You’ve never seen a 1981 Yenko Camaro? Maybe that’s because only 19 were made and they usually sell for well north of what a new will cost you from your local dealer.
One gorgeously restored, matching numbers example is on eBay Motors for the eye-watering Buy-It-Now price of $180k. But please consider the car’s claimed history and stat sheet before passing judgement.
As the legend goes, in 1969, of Murray, Pennsylvania took a 12-year break from modding Camaros. But low compression ’80s engines got under the skin of , and in 1981, the tuning legend proceeded to cram a turbocharged, four-barrel, 350 V8 under the hood of the second-generation car. Horsepower on the rare Yenko is unclear, but it should definitely be way more than the stock Z-28’s meager 175 hp. Reports suggest this was to be , and the owner of this eBay find says this one is the very last 1981 Yenko produced.
On top of all that, the Charlotte, North Carolina seller says that the car has fewer than 30k miles, some of which were supposedly put there by curious automotive journalists. The winning bidder will get the original build sheet, window sticker and a production intent letter signed by Don Yenko.
We’ve had the chance to sample Mercedes-Benz’s so-called technology in both the and roadsters, and it’s a pretty clever party trick. The technology can turn the overhead roof panel in either of the two-seaters from transparent to opaque by energizing the light-blocking crystals sandwiched in the glass. By electrifying the crystals, they reorder themselves, varying the amount of light that’s let through the glass roof panel.
We’ve seen similar electrochromic glass technology before in the 575 Superamerica, but that appears to have been a one-and-done effort in Maranello, whereas is reportedly keen to spread the technology around to more of its lineup. And not only are Benz engineers looking at more models, they’re apparently shifting their focus to side glass – in particular, rear side glass. In fact, Benz’s concept van debuted with the technology at this week’s . We can see Hollywood lining up already – this technology has real merit for keeping the paparazzi at bay.
But blocking out TMZ’s long-lenses isn’t the only issue – there’s not-inconsiderable concern of law enforcement. Window tinting standards vary wildly from state to state here in the U.S., as well as country to country globally, something that could prove to be a major hurdle for the German automaker’s legal team.
So, we think the crew at our sister site have lost their minds. Either that or they’re trying to steal our jobs.
While nominally a show and blog about mobility, most weeks Translogic is discovering all manner of geeky automotive technology, while driving alternative-fuel vehicles powered by , , , or they can find. This week, however, for the 100th show, they straight-up went to the track to drive supercars. At Disney World. Speedway.
Take that, greenies and transportation wonks. Everyone loves to flog roadgoing sex from and , even – make that especially – Translogic host Bradley Hasemeyer.
The latest hotted-up safety car for DTM is the . If we’d been in a racing accident, we’re not sure we’d trust the men who stepped out of a car that’s half steroids, half Satan, but after 12 years of providing the safety cars (along with ) for the German touring car series, we’ll assume knows what it’s doing.
The most powerful ever will rush to the scene with 517 horsepower, an “aerodynamically optimised light bar” and other Christmas lights, AMG Track and Aero packages and an AMG-specific exhaust.
The safety car is more powerful than the 500-horsepower Mercedes actually racing in the series, so if it weren’t for the extra weight it’s carrying, it might even beat the other cars to the scene of the accident. You can read all about it and peep it in the high-res gallery of images.
There’s a that the designers at might have been dreaming about before they penned the Lithia. We don’t think this kind of inspiration is anywhere near criminal, though, and before anyone broaches the topic of Chinese design, they should know that the is an ex-General Motors man: , who has work on the and the on his resume.
CH Auto helps automakers prepare cars for sale in China, from design through to engineering – part of Darancou’s brief is to make sure those two departments work together. The Lithia, showed off at the , has probably been done as a company calling card. Powered by lithium-ion batteries, the spec sheet claims a 150-kilometer range (93 miles).
There has been a lot of discussion from industry analysts about who will replace CEO , but he’s not the only CEO of a major American automaker that will eventually need a successor.
, CEO of since shortly after its emergence from bankruptcy in 2009, told Automotive News in an interview that he hopes his successor comes from within the automaker’s ranks, as opposed to bringing in an outsider. Candidates are said to include GM Vice Chairman Steve Girsky, North American head Mark Reuss and global product leader Mary Barra.
Interestingly, Akerson himself was imported from a private equity firm called The Carlysle Group, and he has indeed had to learn how the auto industry operates, as he told AN:
“This is the funniest industry. Most industries people are straight up with it. Here everybody slaps everybody on the back, you just got to make sure they don’t have a knife with it.”
Despite this acknowledgement, Akerson is still not one to pull punches. GM’s CEO , “They are trying like hell to resurrect . Well, I might as well tell you, you might as well sprinkle holy water. It’s over.” And he’s not backing down. “A little bit of holy water wouldn’t hurt, I won’t back off that.”
If a rumored and a is to “holy water,” we’d say Ford must agree with Akerson’s assessment.
To some residents of Midtown Manhattan, sex is a problem. Specifically, is a problem and they’ve asked the Community Board to ban weekend parking on their streets.
The board granted the request, citing chronic drug use, double parking and rampant sex. Unfortunately, the board has no power to enforce the ban and is awaiting a review by the Department of Transportation. If passed, the NYPD will presumably get involved and start asking frisky fornicators to get a room.
Half the problem could take care of itself soon. Patrons of two nightclubs in the area are being blamed for the illegal displays of public affection, medication and parkification: The Parlour Midtown and Rebel NYC. The Parlour’s liquor license is is under review due to “several violations.”
And, by the way, if you’re wondering how to properly do the backseat mamba, check out (kinda NSFW) for some helpful tips. Just stay out of Midtown.
