Official: Audi reinvents the rearview mirror for its Le Mans racers

Audi R18 rear-view camera system

Every year at every auto show we see concept cars that envision replacing the rearview mirrors with digital cameras. They’re usually the exterior mirrors and not the central one above the windshield, but whatever the case, and however much sense they seem to make, government regulations prevent them from being put into production. But Audi has found another use for the idea: its racing cars.

The latest R18 Le Mans prototype features, among other more considerable advancements, an AMOLED screen in the closed cockpit that’s hooked up to a video camera, housed in carbon fiber and protruding ever so slightly from the tail fin. The system allows the drivers – who are put under enormous strain over the course of an endurance race – to clearly see the traffic coming up behind (or that they’ve just passed), which is apparently of great benefit considering that these mid-engined, closed-cockpit LMPs have no room for a rear window through which a conventional mirror would peer.

While they were at it, Audi moved the gear indicator, some warning lights and the tire slip gauge to the high-mounted central display. The side mirrors are still there on the outside, so the system doesn’t eliminate that drag (for now), but it operates independent of the sight-limiting vibrations that can occur at the high speeds an LMP can reach, and of the weather conditions that can cause reduced visibility from spray in the wet.

Though it may take some time, if Audi wins on Sunday, it could end up selling this technology in its road cars on Monday.

Continue reading Audi reinvents the rearview mirror for its Le Mans racers

Audi reinvents the rearview mirror for its Le Mans racers

    



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    Video: Watch country music’s Mac Davis sing a Carroll Shelby tribute

    Country musician Mac davis playing guitar on couch

    The passing of automotive legend Carroll Shelby has led to an outpouring of support, including a replay of a toe-tapping melody from country music great Mac Davis. Davis has enjoyed a long and successful career as both a performer and songwriter, with several number one songs including three written for Elvis Presley.

    If you watch Mac’s tribute to the one and only Carroll Shelby, you’ll see his talent on display. Davis took the time to sing his Shelby song that he’d written years before, and you can view it yourself by scrolling below. The lyrics are pretty amazing, and they can be a bit of an elaborated history lesson for enthusiasts who thought Shelby’s fame is relegated to a few Mustang GT500 models.

    Continue reading Watch country music’s Mac Davis sing a Carroll Shelby tribute

    Watch country music’s Mac Davis sing a Carroll Shelby tribute

        



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      Nissan begins work on next-generation Maxima

      2012 Nissan Maxima - black - front three-quarter dynamic view

      Nissan has already tipped its hand, revealing that it will introduce five new models over the next 15 months. Those five models include the Altima, Pathfinder, Sentra, Versa hatchback and Rogue. Of those, we’ve already spent some time with the Altima, and its improved performance, upscale interior and slightly larger dimensions once again had us wondering if there was still a need in Nissan’s portfolio for the pricier Maxima.

      Apparently, there is. Despite the Max sharing the Altima’s basic platform and powertrains for some time now, Nissan says its most expensive sedan is viewed differently by consumers. Officials we spoke with at the Altima’s launch in Tennessee this week noted that the company sold about 59,000 examples last year, of which some 51,000 went to actual retail customers. For those keeping track of such things, Nissan says that actually makes Maxima America’s top retailing non-luxury V6 sedan, Number One in a catch-all segment that includes everything from the Buick LaCrosse to the Ford Taurus, Hyundai Azera, Toyota Avalon and Volkswagen CC (not to mention six-cylinder versions of cars like the Chrysler 300, Dodge Charger and Hyundai Genesis). The current Maxima has been on sale since 2008 and received a very minor facelift for 2012.

      According to J.D. Power and its Power Information Network data, those purchases transacted at around $30,000, well above the Altima’s $24,000 sales sweet spot.

      Add all this up, and you get a solid business case for the next-gen Maxima, on which work has just kicked off in earnest now that the company’s decks have been cleared of the Altima. Officials declined to nail down a timeframe for us, but given what we know about Nissan’s product cadence over the next 12 months or so, we suspect the eighth-generation Maxima will arrive for 2015. Given the current car’s quiet sales success, we don’t expect the next Maxima to radically change the formula, so exorcise any thoughts you have about a shift to rear- or all-wheel-drive architecture. The original Maxima arrived in 1980 as a RWD sedan but made the shift to FWD in 1984 and hasn’t looked back since.

      Nissan begins work on next-generation Maxima

          



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        Study: Alt-fuel cars unsustainable without government assistance

        Chevrolet Volt Charger

        According to the 2012 U.S. Automotive Industry Survey and Confidence Index by Booz & Co., alternative vehicle powertrains may take up as much as 10 percent of the total market by 2020, but only if the federal government continues to support development.

        Without a helping hand from Uncle Sam, only 30 percent of the researchers, executives and consumers who participated in the survey believe alternative-fuel machines will be able to carve out that small slice of the market. Specifically, federal tax incentives for potential buyers could help push the technology forward in the future.

        According to Wards Auto, further development faces a double hurdle. First, additional urban planning is required to demonstrate plug-in hybrids and EVs will be viable options for buyers, but at the same time, government agencies also need to see fuel cell and battery costs come down before being willing to pony up for chargers or incentives.

        Even so, 70 percent of those surveyed said they were more confident about future hybrid demand than they were in 2011. Take a look at the full survey results here.

        Alt-fuel cars unsustainable without government assistance

            



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          Official: 2013 BMW 7 Series arrives with more power, gadgets and safety

          2013 BMW 7 Series, dynamic shot, front three-quarter view

          The 2013 BMW 7 Series gets incremental improvements everywhere. Outside the changes are minimal: fewer vertical slats inside the kidney grille and a larger chrome surround, two horizontal chrome accents bars splitting the lower intake, restyled side mirrors with turn-signal indicators, and new shades of red on the taillights. Inside are resculpted front seats, more soundproofing, redesigned ambient lighting, an updated iDrive controller and “floating” screens for the Rear Seat Entertainment package, and an optional Bang & Olufsen sound system. Along with those changes, the look of the navigation system has been updated with new menu organization, displays, a “pie menu” and 3D elements. The Attention Assistant system provides gives BMW drivers their own coffee cup icon to remind you when it’s time to rest and hands-free trunk operation makes its first appearance in the range.

          The eight-speed steptronic transmission, fitted to every model, allows the new 7 to make more of its engines. Under the hood, the inline six-cylinder in the 740i maintains the same power ratings, 315 horsepower and 330 lb-ft, but is mated to the new eight-speed Steptronic transmission and said to have “significantly improved” efficiency, with a 20 percent increase noted in the EU cycle. The 4.4-liter V8 in the 750i gets fitted with Valvetronic and gets bumps of 45 hp and 30 lb-ft, for 445 hp and 480 lb-ft total. The changes reduce its 0-60 time to 4.7 seconds, at the same time as fuel economy on the EU cycle climbs 25 percent with the new transmission.

          The second-gen ActiveHybrid 7 drops down an engine size, swapping its previous V8 for the 3.0-liter six-cylinder from the 740. It’s yoked to a 55-hp synchronous motor. Rated at a combined 349 hp and 367 lb-ft, BMW says it is 14 percent more fuel efficient than the 740i.

          Both the 740i and 750i will come with a new powertrain management system dubbed ECO PRO that joins the other Driving Dynamics Control settings and that includes a coasting mode operable between 30 and 100 mph. Other driving enhancements include Dynamic Damper Control, an electronically controlled damping system that works on each shock individually dependent on road conditions, self-leveling rear suspension now standard on all models, and xDrive available on the 740i.

          Both the 740i and 750i will arrive in showrooms this summer, the ActiveHybrid 7 coming this fall. The high-res gallery above can show you what’s coming, scroll down to read all about it in the press release.

          Continue reading 2013 BMW 7 Series arrives with more power, gadgets and safety

          2013 BMW 7 Series arrives with more power, gadgets and safety

              



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            Report: Motorcycle fatalities stay steady while auto deaths decline

            crashed motorcycle

            The numbers haven’t been definitively crunched, but it is expected that the estimated 32,310 traffic fatalities in 2011 were the lowest on record in the 62 years that records have been kept. Yet the good news about the total number of fatalities masks regrettable news for traffic safety authorities: automobile fatalities are down, but motorcycle fatalities are up.

            After a steady rise in motorcyclist death rates through the first decade of the new century, numbers fell in 2009 and the beginning of 2010. Observers hoped the trend would continue, but that didn’t happen when deaths ticked up slightly over the course of 2010 and stayed steady through 2011.

            Causes are varied, from high gas prices leading more people to ride motorcycles to inadequate training for both riders and automobile drivers on how to ply the roads safely. A report breaking down the numbers also “noted that 29 percent of fatally injured riders in 2010 had a blood-alcohol concentration at or above the legal limit, and 35 percent of motorcycle riders involved in fatal crashes were speeding.” It didn’t, however, indicate how much of those numbers overlapped – how many of those riders were over the limit when they died.

            Nor does it look like current developments will allay the trend in the near-term. Only 19 states require riders to wear helmets, Michigan just repealed its compulsory helmet law and five other states are considering such measures. Again, the overall number of fatalities is welcome news considering how many more people and cars there are on the roads now compared to 1949, but the takeaway for motorcyclists is that there is now more reason to be extra careful when you ride.

            Motorcycle fatalities stay steady while auto deaths decline

                



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              Official: Gemballa debuts real diamond finish for cars

              300be gemballa diamond finish Official: Gemballa debuts real diamond finish for cars

              Matte. Mirrored chrome. Gold-plated.

              You can now add diamonds to the growing list of ostentatious and extravagant finishes being applied to cars these days. Longtime Porsche tuner Gemballa has announced a new automotive finish that literally uses diamonds to create its million-dollar sparkle.

              The German-based company claims its new diamond finish is the first of its kind to ever use the actual gem rather than other reflective ingredients like metal pigments, glass fragments or crystals. The trick was grinding the diamonds down to a size small enough that they could be applied like paint, which Gemballa says also helps increase the refractive qualities of its shine.

              There’s no mention of price or other specifics like how many precious stones are sacrificed per gallon of twinkle juice, but you can imagine as well as we can what kind of premium it will command. With any luck, Justin Bieber can’t afford it.

              Continue reading Gemballa debuts real diamond finish for cars

              Gemballa debuts real diamond finish for cars

                  



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                Renault Alpine: New images and teaser video surface [w/video]

                Renault Alpine A110-50 Concept

                Renault has turned over a few more photos of its all-new Alpine A110-50 ahead of the machine’s debut at this weekend’s Monaco Grand Prix. The new shots show off the sports car’s rear end for the first time. The total package looks more than a little like the Renault DeZir concept, though we’re told the chassis is borrowed almost entirely from the company’s Megane Trophy.

                If the two machines share more than bones, that means we can expect to see a 3.5-liter V6 engine mounted mid-ship. The powerplant churns out 360 horsepower in standard guise, though the A110-50 is said to clear over 400 horsepower.

                In addition to the few photos, Renault also served up a brief teaser video showing the covered machine as it is being unloaded from a transport. Check it out for yourself, and stay tuned for more information as it becomes available.

                Continue reading Renault Alpine: New images and teaser video surface [w/video]

                Renault Alpine: New images and teaser video surface [w/video]

                    



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                  Report: More Americans paying their car loans on time

                  Female car buyer signing documents at dealership

                  Nearly everyone in America with a car loan is making the payment on time, the Detroit Free Press is reporting.

                  A scant .36 percent of people with a car loan are 60 or more days behind on making their payment, according to a TransUnion report looking at the January through March quarter of auto loan payments. That means more than 99-percent of customers borrowing cash for cars are on time.

                  The tiny percentage, which represents a drop of about 27 percent year-over-year is the lowest since TransUnion started tracking it in 1999.

                  The fall in loan delinquency, however, may not be great news for banks overall. TransUnion attributes some of the on-time payments to recession weary consumers placing a priority on their car payment while foregoing payments on credit cards and underwater homes.

                  More Americans paying their car loans on time

                      



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                    Report: Saab to be saved by mystery Swedish electric car company

                    2011 Saab 9-4X - white - front three-quarter view

                    The all-but-lifeless corpse of Saab continues to stagger forward in hopes of finding a juicy investor to sink its teeth into. Autocar reports that National Electric Vehicle Sweden is currently close to buying the brand’s remaining assets. The freshly minted electric car consortium is helmed by none other than Karl-Erling Trogen, the former head of Volvo Trucks. Beyond that, few details are known about the company or its plans for Saab. National Electric Sweden is owned by two bodies, Sun Investment and Mikael Kubu, the president of law firm Ac-Gruppen.

                    We can only speculate about what the consortium wants with Saab, though fan site SaabsUnited reports the company may have its eyes on an electric rear axle program developed with in conjunction with eAAM. Whether that means we’ll see electric or hybrid Saab models whirring around in the future is still uncertain. If we did, it would probably take quite a while. As SaabsUnited notes, “Saab, the company, right now has nothing in it, no dealership network, no finance structure, no personnel-structure, no communications network, nothing… everything needs to be completely rebuilt from scratch, which will take a huge amount of time.”

                    At this point, we’ll just be pleasantly surprised if the Griffin brand gets a new owner at all.

                    Saab to be saved by mystery Swedish electric car company

                        



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                      Video: Nissan Juke-R goes ice fishing in Norway

                      Nissan Juke-R on ice

                      There’s something about the boffins over at Nissan – particularly those working at its racing headquarters in the UK. We’re not quite sure what it is. Oh, right: they’re bonkers. Absolutely off their rockers, in the best way possible. How else would you explain the decision to take an entry-level crossover and swap out its powertrain for that of a supercar?

                      We’re talking, of course, about the Juke-R, the 480-horsepower demon cockroach from hell. After racing it against a field of supercars in Dubai, Nissan has taken the Juke-R to a decidedly different setting – an ice track near the former Winter Olympics site in Lillehammer, Norway – and set it loose.

                      And if that wasn’t quite enough, the Japanese automaker didn’t put it in the hands of an veteran ice racer – say, the four-time Formula One World Champion who drives for its sister company in the Andros Trophy, they gave it over to its gamer-turned-racer Lucas Ordonez who, being from Spain, had never driven on ice before. Sounds sane to us. Scroll on down to see the results in the brief video clip.

                      Continue reading Nissan Juke-R goes ice fishing in Norway

                      Nissan Juke-R goes ice fishing in Norway

                          



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                        Report: Suzuki cozying up with Fiat?

                        2012 Fiat Sedici - Front three-quarter view, purple static shot

                        Fiat and Tata has reportedly stepped away from a tieup in the Indian market that saw Fiats being built in India, using engines shared with Tata and Maruti models, and being sold through Tata dealers. Neither company commented, but according to analysts, the issue was that in addition to Tata was simply too busy with its other endeavors, especially Jaguar Land Rover, to attend to the Fiat deal. Sales of the joint-venture vehicles have declined by more than 20 percent year-on-year.

                        The Fiat-Tata union isn’t binding, and talk has now centered around Fiat snuggling up with Suzuki. Suzuki has a huge position in Asia, Suzuki-Maruti being India’s largest carmaker and the Japanese firm having sold more than half its cars in the Asia region, excluding Japan, over the year that ended March 31. Fiat, on the other hand, only sold three percent of its wares in Asia in 2011.

                        There is debate about how beneficial a Fiat-Suzuki tieup would be. Suzuki’s position is facing pressures, but some observers say the Japanese firm has all the strengths and, at most, would benefit from “a timely supply of engines,” but possibly confuse customers by adding Fiat to its distribution channel. Others think that it would be a good union, with Fiat providing “a sound name” and a technology exchange.

                        Such a venture would rely on Suzuki extricating itself from its still-binding union with Volkswagen, an adventure that has probably soured Suzuki on the phrase “technology exchange” for a bit. Among the problematic issues, Suzuki has accused VW of breach-of-contract by not sharing VW technology and not initiating any of the joint projects that were Suzuki’s reason for the deal. Suzuki and Fiat presently collaborate on the Fiat Sedici/Suzuki SX4, and when Suzuki bought diesel engines from Fiat instead of VW, the German company accused the Japanese automaker of breach-of-contract. Both parties are in arbitration over the matter; last we heard, Suzuki wants its 20-percent stake returned, while VW is still in favor of the partnership. A VW victory would nix the kind of Suzuki deal with Fiat being speculated now.

                        Suzuki cozying up with Fiat?

                            



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                          Official: Nissan announces production of funky e-NV200 electric van

                          Nissan e-NV200 concept

                          There are two directions automakers can go to produce a vehicle with electric propulsion – be it a hybrid or an outright EV: make it look the same as any other car, or make it stand out. Like Toyota (for example) did with the Prius, Nissan made the Leaf look (for better or worse) unlike a conventional sedan. But while Toyota answered the call for more space with the equally “distinctive” Prius V, Nissan has gone a different route in producing a bigger brother for the Leaf.

                          That route is called the e-NV200, pictured above in concept form. And while the nose, unique shade of blue and electric powertrain are conceptually borrowed from the Leaf, the rest is nearly identical to the existing NV200 van that is being rolled out in New York as the city’s new taxi of choice.

                          Nissan has just announced the production of the e-NV200, set to start next year at the same plant in Barcelona, Spain, as the conventionally-powered NV200. As a result, Nissan will hire 700 more workers at the plant and invest some €100 million (U.S. $126 million at today’s exchange rates). Details like projected cost and annual capacity are not to be found in the press release below, but Nissan does say the electric van will be built starting some time in fiscal year 2013, which we take to mean before the end of March 2014.

                          Continue reading Nissan announces production of funky e-NV200 electric van

                          Nissan announces production of funky e-NV200 electric van

                              



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                            Report: Artist claims work censored at Transmission LA because of Mercedes-Benz

                            Transmission LAArtist Chris Silva has a bone to pick with the Los Angeles Museum of Contemporary Art. Silva was invited to participate in a show curated by the late Mike D of the Beastie Boys last month, wherein artists were asked to bring their own projector to display art on the museum’s walls. Silva opted to shine a 3D wire model of a Peugeot prototype Le Mans racer vertically. After the race car spent a bit of time shining brightly, Silva came back to his projector to see a note card taped over the lens. When he removed the card, an event organizer told him he would have to remove his image because the show’s sponsor found it offensive.

                            The “Transmission LA” was sponsored by none other than Mercedes-Benz. Silva claims that when he asked to speak with a Mercedes representative, he was denied after being told, “they are pissed.” Silva has a history of using automotive imagery in his art, including Mercedes-Benz wheels. Not anymore, he says. The artist says the experience won’t so much change his art as “my opinion of the materials I work with.”

                            Artist claims work censored at Transmission LA because of Mercedes-Benz

                                



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                              Rumormill: Subaru Tribeca getting the axe?

                              2010 Subaru Tribeca - front three-quarter view

                              Could it be? Could Subaru finally be killing the Tribeca?

                              We’ll admit it. We’ve been waiting for this day since we first spied the 2006 Subaru B9 Tribeca. So has every other too-clever-by-half automotive journalist who slammed Subie’s range-topper when it debuted in late 2005, looking like it had been styled by whatever group-think team General Motors had canned for unleashing the Pontiac Aztek on the world. We never thought Plan B9 From Outer Space would last this long to begin with, and we wouldn’t be surprised if someone told us that Subaru has been keeping the slow-selling, three-row crossover in production just to keep the automotive journalist peanut gallery from gloating. We do love to gloat.

                              Of course, the report from Motor Trend is nothing more than a rumor at this stage, and Subaru’s official response is that there will be a 2013 model year Tribeca. And who knows, maybe the powers that be at Fuji Heavy Industries will shove another delightfully refreshed model year down the pipeline. Volvo’s been doing it for years.

                              Subaru Tribeca getting the axe?

                                  



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                                Followup: Renault confirms 400-HP Alpine concept debuting on Friday *UPDATE [w/video]

                                3a291 alpinea110orig Followup: Renault confirms 400 HP Alpine concept debuting on Friday *UPDATE [w/video]

                                3a291 renalpzar Followup: Renault confirms 400 HP Alpine concept debuting on Friday *UPDATE [w/video]Renault has confirmed the unveiling of an Alpine concept at this weekend’s Formula One Grand Prix de Monaco, but as we get closer there are new details alongisde new questions. Just yesterday came the leaked image of a concept called the A110-50C, heavily based on the Renault DeZir concept, that could turn out to be the thing itself or pure Photoshop fancy. French press is reporting that Renault COO Carlos Tavares has confirmed that a 400-horsepower concept will appear that “could be homologated and on the road in the future,” and it will take a lap of the Monaco course.

                                Another story in the French press has a picture of Sebastian Vettel sitting inside a vintage Alpine 110 racer – the car that all this hubbub is about, an example of which is pictured above. It was taken in mid-April for German GQ magazine at the Barcelona F1 circuit. Vettel and Tavares will supposedly be presenting the concept, but that report indicates the car is called the ZAR and suspects the first letter is for “zero emissions,” the second for Alpine, the third perhaps for Renault. A report in CNET France also claims the ZAR appellation for the concept, allowing that the meaning of the acronym can only be supposition for now. True, the DeZir was an all-electric concept, so either the A110-50C/ZAR has 400 electric horsepower and there isn’t any mid-mounted 3.5-liter Nissan V6, or Renault has found a way to break every single law of internal combustion… or we just don’t know what’s really in there.

                                We’ll should know all come Friday at 1:00 PM local time.

                                * UPDATE: The leaked image (inset) is the real deal. Renault has released some teaser photos and a video, and the reveal will happen on French Yahoo! Autos on Friday at 1:01 p.m. Monaco time. Scroll down to watch the teaser vid.

                                Continue reading Renault confirms 400-HP Alpine concept debuting on Friday *UPDATE [w/video]

                                Renault confirms 400-HP Alpine concept debuting on Friday *UPDATE [w/video]

                                    



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                                  Followup: Renault confirms 400-HP Alpine concept debuting on Friday

                                  bdfde alpinea110orig Followup: Renault confirms 400 HP Alpine concept debuting on Friday

                                  Renault has confirmed the unveiling of an Alpine concept at this weekend’s Formula One Grand Prix de Monaco, but as we get closer there are new details alongisde new questions. Just yesterday came the leaked image of a concept called the A110-50C, heavily based on the Renault DeZir concept, that could turn out to be the thing itself or pure Photoshop fancy. French press is reporting that Renault COO Carlos Tavares has confirmed that a 400-horsepower concept will appear that “could be homologated and on the road in the future,” and it will take a lap of the Monaco course.

                                  Another story in the French press has a picture of Sebastian Vettel sitting inside a vintage Alpine 110 racer – the car that all this hubbub is about, an example of which is pictured above. It was taken in mid-April for German GQ magazine at the Barcelona F1 circuit. Vettel and Tavares will supposedly be presenting the concept, but that report indicates the car is called the ZAR and suspects the first letter is for “zero emissions,” the second for Alpine, the third perhaps for Renault. A report in CNET France also claims the ZAR appellation for the concept, allowing that the meaning of the acronym can only be supposition for now. True, the DeZir was an all-electric concept, so either the A110-50C/ZAR has 400 electric horsepower and there isn’t any mid-mounted 3.5-liter Nissan V6, or Renault has found a way to break every single law of internal combustion… or we just don’t know what’s really in there.

                                  We’ll should know all come Friday at 1:00 PM local time.

                                  Renault confirms 400-HP Alpine concept debuting on Friday

                                      



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                                    Official: Ferrari claims unofficial lap record at Laguna Seca

                                    Ferrari F2003-GA at Mazda Raceway Laguna Seca

                                    Setting the fastest lap on any race track is worth its share of bragging rights, but some are worth more than others. Like the Nürburgring Nordschleife, for example. Or the Top Gear test track. Or, on this side of the pond, Laguna Seca.

                                    The Mazda Raceway near Monterey, California, is one of the most challenging circuits in the world. It’s got a double-apex hairpin at the start, an off-camber sweep to the left and of course the dreaded Corkscrew that drops five and a half stories with tight turns at top and bottom. Little wonder, then, that its lap record is a subject of such contention.

                                    The record was set at 1:07.722 by Helio Castroneves in 2000 behind the wheel of a Penske Champ Car. And that remains the fastest official time since the ones that followed were not set during an officially-sanctioned race weekend. But, in 2006, Ricardo Zonta drove the Toyota TF106 there to an unofficial new record of 1:06.039. Sebastian Bourdais took it back for the Champ Car series the following year at 1:05.880. But now Ferrari has taken the unofficial crown at 1:05.786.

                                    The record lap was set during the Ferrari Racing Days event by veteran scuderia test driver and Le Mans winner Marc Gené, behind the wheel of the Ferrari F2003-GA, the car named for the late Fiat chairman Gianni Agnelli with which Michael Schumacher and Rubens Barrichello took seven grand prix wins and both titles in the 2003 Formula One World Championship. And now it can go down in history with another accolade to its history. See below for the official announcement.

                                    Continue reading Ferrari claims unofficial lap record at Laguna Seca

                                    Ferrari claims unofficial lap record at Laguna Seca

                                        



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                                      Official: Blue Oval no longer in hock as Ford credit rating upgraded

                                      Ford badge

                                      Moody’s upgraded Ford’s credit rating to investment grade today, the final step for the company to be able to reclaim its Blue Oval. Ford had offered its globally recognized trademark as part of a 2006 loan package. According to the Detroit Free Press, the collateralized logo and the rest of Fod’s assets and intellectual property would not return to the automaker until it achieved an investment-grade credit rating with at least two of the three major agencies. Last month, Ford’s credit was upgraded by Fitch.

                                      At the time the loan was issued, the move was viewed as bold and risky, as Ford literally bet the farm that it could pay back the $23.5 billion. But as it turned out, the automaker’s head start on restructuring allowed it to weather the financial crisis and resultant industry downturn in 2008 without declaring bankruptcy and needing government intervention like its cross-town rivals.

                                      The upgrade from Moody’s is said to potentially help Ford by lowering its borrowing costs, and certainly having its assets back should allow everyone in Dearborn to sleep peacefully tonight.

                                      Scroll down to read Ford’s official statement.

                                      Continue reading Blue Oval no longer in hock as Ford credit rating upgraded

                                      Blue Oval no longer in hock as Ford credit rating upgraded

                                          



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                                        Autoblog Podcast #283

                                        Ford Shelby GT500, Chevrolet SS, Kia diesels

                                        autoblog podcast logo

                                        Episode #283 of the Autoblog Podcast is here, and this week, Chris, Dan and Zach chat about the 2013 Ford Shelby GT500, the Chevrolet SS, and Kia exploring diesels for the U.S. market. Your questions and comments power the end of the ‘cast, and for those of you who hung with us live on our UStream channel, thanks for taking the time. We’ve embedded our Q&A module after the jump for you to scroll through and follow along, too. Thanks for listening!

                                        Autoblog Podcast #283:

                                        Topics:

                                        In the Autoblog Garage:
                                        2012 Toyota Camry Hybrid
                                        2012 Audi A6
                                        2012 Honda Fit

                                        Hosts: Dan Roth, Chris Shunk, Zach Bowman

                                        Runtime: 01:08:54

                                        Get the podcast
                                        [UStream] Listen live on Mondays at 10PM Eastern at UStream
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                                        [MP3] Download the MP3 directly

                                        Feedback
                                        Email: Podcast at Autoblog dot com

                                        Review the show in iTunes

                                        Continue reading Autoblog Podcast #283

                                        Autoblog Podcast #283

                                            



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