Official: Fiat darts into China with new Viaggio

2012 Fiat Viaggio on display at 2012 Beijing Motor Show

The alliance between the Chrysler Group and Fiat SpA has been a two-way street: Auburn Hills has given Lancia a new lease on life, for example, while Alfa Romeo has given Dodge the underpinnings for the new Dart. And now Dodge can return the favor in the form of the vehicle you see here.

Called the Viaggio, it’s essentially a Fiat-badged Dodge Dart with a few minor tweaks here and there. But don’t expect a shipment of Fiat badges to be arriving at the assembly plant in Belvedere, Illinois, anytime soon: what you’re seeing here is actually the first Fiat that will (starting in June) be built in China for China, through a joint venture with Guangzhou.

The resulting GAC Fiat enterprise unveiled the Viaggio at the Beijing Auto Show following teasers released a couple of weeks ago. The result looks like a Dart with some extra chrome. Buyers in China will be able to choose from 120- or 150-horsepower versions of Fiat’s 1.4-liter T-Jet four with either a five-speed manual or six-speed DCT. Scroll down below for the full press blast and take a look at the high-res image gallery.

Continue reading Fiat darts into China with new Viaggio

Fiat darts into China with new Viaggio

    



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    Video: Israelis stop on highway to commemorate Holocaust victims, two injured

    holocaust remembrance day

    Every year on Holocaust Remembrance Day, the people of Israel take two minutes to honor those who died in the Holocaust. When the sirens go off, everything stops, including traffic. This year, the two-minute ceremony was unfortunately marked with a pair of accidents due to the abrupt stop in traffic.

    The Times of Israel reports that a woman in her 60s was run over as she was standing outside her car and another was struck as she stood by her vehicle on the highway. Both women were hurt badly enough to require medical attention and the older woman was listed in serious condition.

    The incidents scarred an already solemn occasion, but after watching the post-jump video, we’re surprised more people aren’t injured. Scroll down to watch the unorganized chaos of freeway drivers pulling over at different times. Just as unorganized is the minute after the sirens stop, when everyone seems to want to leave as quickly as possible.

    Continue reading Israelis stop on highway to commemorate Holocaust victims, two injured

    Israelis stop on highway to commemorate Holocaust victims, two injured

        



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      Report: Scion xB, xD models getting the axe

      2011 Scion xB in silver - front three-quarter view

      Scion xD Release 3.0 - front three-quarter view, brownScion has long been labeled as a “youth brand,” so perhaps we shouldn’t be surprised to read word of parent Toyota turning over the marque’s aging nameplates so quickly. According to Ward’s Auto, Scion is set to kill off its xB and xD models – the first a onetime icon for the brand, the latter an econobox that never truly caught on with buyers (not unlike it’s predecessor, the xA).

      A model like the xB was always going to be a love-hate proposition, and indeed, the subcompact sharply divided opinion because of its its t-square styling and funky stance back when it was introduced in 2004. But enough buyers fell enough with its good qualities – remarkable space efficiency, solid fuel economy, ease-of-driving and low pricing that the xB sold surprisingly well, in the process becoming something of a totem for the brand. The second-generation model, which bowed for 2007, seemed to alter all the things that made the original so endearing: the xB grew substantially, had the uniquely sharp corners of its design chamfered off, and it gained more power without adding much in the way of performance because the vehicle had been so radically upsized. Fuel economy dipped, too, as did the xB’s popularity with shoppers. Last year, Scion only moved about 17,000 examples – in its heyday, the xB sold over 60,000 units.

      A couple of years ago, Jim Farley, Ford’s vice president of global marketing, told Autoblog that Scion’s intent wasn’t to be a youth brand at all – it was to be an experimental division, an incubator for product and marketing techniques. Farley, as you may recall, was one of the driving forces behind Scion, ascending to the role of its vice president before being reassigned to Lexus. By Farley’s yardstick, perhaps Scion had pushed the xB and xD as far as they could go, and now it’s simply time to test new vehicular hypotheses. Indeed, more recent models like the tiny iQ and FR-S coupe show the brand experimenting in bold new directions… exactly the sort of innovation we can get behind.

      Scion xB, xD models getting the axe

          



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        Official: Ferrari previews Enzo successor’s V12 HY-KERS powertrain [w/video]

        Ferrari HY-KERS V12 engine - static preview image

        Go back just a few years ago, and you’d easily conclude that Ferrari and hybrids would go together about as well as ice cream and pickles. But a lot’s changed since then, and Ferrari is making no secret of the fact that it’s developing hybrid powertrains of its own.

        The first system it developed is the Kinetic Energy Recovery System, a type of regenerative braking device developed with its sister company, Magneti Marelli, for use in Formula One. That lead to a similar system installed in an experimental version of the 599 called the HY-KERS concept displayed at the 2010 Geneva Motor Show. More recently reports surfaced that Ferrari had patented a more conventional hybrid powertrain system, leading to speculation that the KERS type had been abandoned for road-car use – most poignantly in the upcoming successor to the Enzo. But while Ferrari apparently pursues development of that more conventional hybrid system, it appears that its next mid-engined V12 hypercar will adopt an evolution of the HY-KERS system displayed on that green 599 two years back.

        A revised HY-KERS system has just been announced by Ferrari at the Beijing Auto Show, where the Prancing Horse also marked the Asian debut of its new F12 Berlinetta. Ferrari says the new system – installed on a V12 engine mounted amidship – is more effective than the one that preceded it, bringing emissions down to 40 percent of what a conventional engine with the same output would produce (compared to a 30 percent reduction from the previous incarnation), all while bringing engineers closer to their target of producing one kilowatt of energy for every kilogram of weight the system adds.

        As for the F12, Ferrari has revealed that its latest supercar set a lap time at Fiorano of one minute, 23 seconds, making it the company’s quickest road car yet: a full second quicker than the 599 GTO it replaces, and about two seconds quicker than the Enzo, the 458 Italia and the 430 Scuderia. With that kind of progress, we can count on the new hybrid V12 hypercar to set an even quicker time still. Scroll down for the press release and video clip.

        Continue reading Ferrari previews Enzo successor’s V12 HY-KERS powertrain [w/video]

        Ferrari previews Enzo successor’s V12 HY-KERS powertrain [w/video]

            



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          Beijing: Lamborghini Urus stomps onto the stage in China [w/video]

          Lamborghini Urus Concept - live on Beijing Motor Show stand

          The Lamborghini Urus super-SUV is, arguably, the most significant debut of the 2012 Beijing Motor Show. Maybe not in terms of sales volume, but at it’s a completely new direction for the modern Lamborghini brand (nevermind the LM002 “Rambo Lambo” from the ’80s), and moreover, it shows the first glimpse into the new premium SUV architecture that will gradually make its way through the entire Volkswagen Group portfolio.

          We’ve already divulged the nitty gritty details about the Urus, including the meaning behind its questionable name (it’s a Spanish bull – go figure), but now it’s time to take a look at the bruiser live on the stage in Beijing. Before its debut, we were skeptical about how a high-riding Lamborghini SUV would look, but if we’re honest, we like what we see. It’s absolutely in-tune with the rest of Lambo’s design language, and it’s not nearly as enormous as you might think. We just wonder how much space there is in the back seat and how much utility is offered by the cargo bay.

          Click above to peruse through a high-resolution gallery of images live from Beijing, and scroll down to watch a video of the SUV’s unveiling live from the Chinese expo.

          Continue reading Lamborghini Urus stomps onto the stage in China [w/video]

          Lamborghini Urus stomps onto the stage in China [w/video]

              



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            Official: Volkswagen E-Bugster concept lowers its lid in Beijing

            Volkswagen E-Bugster concept - top down in Beijing

            Back in January at the Detroit Auto Show, Volkswagen unveiled a concept car called the E-Bugster. A chopped-down, electric-powered Beetle roadster, the E-Bugster cut a lean, mean, green profile. The only thing that was missing, ironically, was a chance to see the convertible with its top off.

            If you’re going to make a roadster, at least have the courtesy of showing it off with the roof down, right? Fortunately, Volkswagen has fixed that in time for the concept’s Asian premier at the Beijing Auto Show, revealing a cowled rear deck replacing the rear seats inside the chrome bezel surrounding the cabin.

            Aside from the open cockpit, the E-Bugster you see here is the same as the Detroit car, complete with its 114-horsepower electric powertrain that can take you up to 100 miles and quick-charge to 80-percent capacity in just half an hour. Scope it out with its hair down in the gallery above and with it up in the gallery below.

            Continue reading Volkswagen E-Bugster concept lowers its lid in Beijing

            Volkswagen E-Bugster concept lowers its lid in Beijing

                



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              Nissan suffers major cyber attack [w/video]

              nissan vp andy palmer

              Cyber crime is big business these days, and everyone from organized crime rings to governments are participating. The latest publicized attack was announced by Nissan, after the automaker detected malicious malware on its computer network.

              Nissan Vice President Andy Palmer issued a statement that the attack has been detected, adding that neither customer nor employee data was accessed. Palmer says that the incident “initially involved the malicious placement of malware within our IS network, which then allowed transfer from a data store, housing employee user account credentials.”

              Palmer did say that employee user IDs and hashed passwords were transmitted. That certainly sounds bad, but Palmer claims that Nissan has no indication that personal information was compromised.

              Palmer also added that the attack occurred on April 13, but the automaker apparently chose not to disclose the issue until the extent of the damage was known. Nissan has also reportedly taken the time to ensure that their system data was properly secured. Scroll down to view the video statement issued by Nissan.

              Continue reading Nissan suffers major cyber attack [w/video]

              Nissan suffers major cyber attack [w/video]

                  



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                Official: Bentley honors Her Majesty’s Diamond Jubilee with 60 special Mulsannes

                2012 Bentley Mulsanne Diamond Jubilee Edition

                It’s not every day that a country celebrates the diamond jubilee of its reigning monarch. In fact, this is only the second time they’re doing so in Great Britain, making the sixtieth anniversary of the reign of Queen Elizabeth II a cause for, well… jubilation. And to help with the festivities, Bentley has launched an exclusive special edition. But rather than make it another Continental, this time it went with the top-of-the-line Mulsanne.

                Limited to just 60 examples, the Bentley Mulsanne Diamond Jubilee Edition was unveiled not in the UK itself, but in Beijing – the capital of the country that is now Bentley’s largest market, where the automaker has just opened one of its largest showrooms, and where the Beijing Motor Show is now getting under way.

                For the special edition, Bentley’s own in-house coachbuilder Mulliner (which also built the unique State Limousine that carries Her Majesty about) gave the Mulsanne such special touches as gold-embroidered headrests, veneered fold-down tables in the back and leather cushions, all with the gold motif of a classic royal carriage.

                The jubilant Mulsanne can be ordered in a variety of muted combinations of the colors of the Union Jack, but one would simply not discuss the matter of the bill in polite company. You are, however, invited to peruse the press release below, as well as the high-resolution images in the gallery above.

                Continue reading Bentley honors Her Majesty’s Diamond Jubilee with 60 special Mulsannes

                Bentley honors Her Majesty’s Diamond Jubilee with 60 special Mulsannes

                    



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                  Official: Ford developing way to make car parts from cash

                  b1786 cco0008.jpg opt Official: Ford developing way to make car parts from cash

                  Ford
                  is looking to put a new twist on the term “old money.” The automaker may add old, shredded, out-of-circulation U.S paper currency to its list of recyclable materials that may be used for cushions, insulation and other components.

                  With about 10,000 pounds of paper money being shredded per day, Ford is exploring adding it to a list of recyclable or reclaimed materials that includes soybeans, denim and plastic bottles.

                  Ford has cut its petroleum use by about 5 million pounds a year by using soy-based material for foam that is installed in seat cushions and head restraints. And each Ford Fusion is built with the denim-equivalent of about two pairs of blue jeans that’s used for sound-dampening purposes.

                  Ford started looking into using recycled materials about ten years ago as a way to cut use of petroleum in components that usually require plastic. At that time, oil cost about one-seventh of what it costs now.

                  In January, the company said it would use recycled plastic bottles from the North American Auto Show in Detroit and the Consumer Electronics Show in Las Vegas to create part of the polyester fiber used in the Ford Focus Electric’s seats.

                  Continue reading Ford developing way to make car parts from cash

                  Ford developing way to make car parts from cash

                      



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                    Official: Victoria Beckham edition Range Rover Evoque looks suitably Posh

                    2013 Range Rover Evoque Special Edition with Victoria Beckham

                    It’s been the better part of a year since we first brought you reports that Victoria Beckham – who had then just signed on as a celebrity “creative director” for the Range Rover brand – was set to get her own special edition of the chic new Evoque. We didn’t know quite what to make of the news then – much less when the British purveyor of luxury SUVs released a teaser just a few days ago – but now JLR has taken the wraps off its glamorous new special edition, and it’s not nearly as gaudy as you might think.

                    As you can see, the second vehicle released by Jaguar Land Rover’s new Engineered To Order division (alongside the new Jaguar XJ Ultimate) is characterized by matte black paint, which contrasts with the gloss black and rose-gold trim. The interior is finished in vintage-finish tan leather, with mohair floor mats and a microsuede headliner. It also comes with a four-piece set of fitted leather luggage, and a leather portfolio carrying the owner’s manual and bearing Victoria Beckham’s own signature.

                    In other words, it’s suitably posh for a vehicle resulting from a collaboration between the Land Rover Design team and the pop star who made her name as Posh Spice. Only five examples out of the 200 planned for production will make it Stateside, with no word yet on pricing. We’ll also be keeping an eye out for more images of the luxed-out, matte-finish Evoque when they surface, but in the meantime you can view the solitary pic released so far in high-resolution and delve into the full press release below.

                    Continue reading Victoria Beckham edition Range Rover Evoque looks suitably Posh

                    Victoria Beckham edition Range Rover Evoque looks suitably Posh

                        



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                      Official: Jaguar announces new supercharged V6 and turbo four-cylinder

                      5055f jagf typeimage1040412 opt 1333576970 Official: Jaguar announces new supercharged V6 and turbo four cylinder

                      The Jaguar engine lineup is about to get a lot more interesting with the addition of a pair of forced-induction powerplants. The engines, announced in time for this week’s Beijing Motor Show, will be mated to efficient eight-speed ZF transmissions.

                      The more powerful of the two is a supercharged 3.0-liter V6 making 340 horsepower or 380 hp, depending on the configuration. The all-aluminum V6 is derived from Jaguar’s 5.0-liter V8 and it features quad cams, direct injection and a Roots-type twin vortex supercharger with a water-cooled intercooler. The 3.0-liter boasts a 10.5:1 compression ratio, up significantly from the 9.5:1 ratio of the supercharged 5.0-liter.

                      Jaguar also notes in its press release that the 380-horsepower version of the supercharged 3.0-liter will rest under the hood of a high-output variant of the upcoming F-Type roadster (pictured above) when it arrives sometime in 2013.

                      Jaguar will also offer the 240-horsepower 2.0-liter turbo four that’s already available in the Range Rover Evoque. Jaguar hasn’t announced which vehicles will receive the efficient 2.0 turbo, but the new F-Type seems a good bet. Scroll down to read over Jaguar’s press release.

                      Continue reading Jaguar announces new supercharged V6 and turbo four-cylinder

                      Jaguar announces new supercharged V6 and turbo four-cylinder

                          



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                        Official: Vilner adds wood paneling to Land Rover Defender

                        Vilner Land Rover Defender Wood

                        d1094 13vilnerdefender2 opt Official: Vilner adds wood paneling to Land Rover DefenderBulgarian tuner Vilner has some kind of Luxo-Ray that fires munitions packed with at least two tons of quilted leather and Alcantara, then aims it at just about everything as soon as it can be reloaded. The latest target is the Land Rover Defender Wood, making this the second time in a year that the Defender has come into Vilner’s sights.

                        Last time they only hit it with one barrel and left the floorboards and cargo area covered in black carpeting. This time they unloaded both barrels, so in addtion to black-and-brown Nappa leather and Alcantara wrapping everything from the sport seats to the third brake light, Vilner’s added leather arm rests, wood paneling underfoot and a new treatment for its 600-watt “Ground Zero” sound system that all but eliminates usable cargo space.

                        Oh, and the whole thing is soundproofed. So that no one can hear you scream at your passengers to remove their dark-soled shoes and not eat, drink or touch anything.

                        Continue reading Vilner adds wood paneling to Land Rover Defender

                        Vilner adds wood paneling to Land Rover Defender

                            



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                          Beijing: Lamborghini Urus super SUV officially unveiled in China

                          Everything You Want To Know About Lambo’s Super SUV

                          270cd lamborghini urus 1 Beijing: Lamborghini Urus super SUV officially unveiled in China

                          The promise is to make it the most powerful series production SUV on the market, but also the least polluting.

                          Lamborghini has told us repeatedly that it wasn’t planning on doing such a thing anytime soon. We expected most likely the front-engine four-door super sedan – playing off the 2008 Estoque showcar and 1968-’78 Espada – to become the raging bull’s third model line.

                          Feast your eyes on the Lamborghini Urus, or “LB736.” First off, yes, it is part of an upcoming (i.e. sometime in 2015) Volkwagen Group premium SUV onslaught. In the company of Lamborghini design director Filippo Perini and research and development guru Maurizio Reggiani, we were able to pry into all of the details back in mid-March during a special preview at company headquarters. We’ve had to hold off scribbling until today because the official debut for the edgy 4×4 happens right about now at the Beijing Motor Show. China is foreseen as a good market for the supersonic SUV, but the United States remains Job One.

                          In comparison to the clumsy Bentley EXP 9 F concept seen at the recent Geneva Motor Show, the Urus hits us almost gleefully by comparison; it’s right on the money with Lambo’s current design language. Lamborghini’s Perini understands that this is a polarizing proposition: “When Lamborghini creates a whole new model line, it’s automatically risky since it doesn’t happen so often.”

                          And we were nervous about it, too, imagining a four-seater setup that would need to ride way too high, sort of like the first generation Porsche Cayenne or that Bentley. But when the veil came off and the hard lights hit it, we were pleased.

                          Continue reading Lamborghini Urus super SUV officially unveiled in China

                          Lamborghini Urus super SUV officially unveiled in China

                              



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                            Report: Sun retrains staff over Jeremy Clarkson suicide jabs

                            Jeremy Clarkson

                            Of course you all know who that man in the picture is, don’t you? He’s Jeremy Clarkson, one of the stars of Top Gear, the BBC’s hilarious automotive variety show. Its 18th series just premiered on BBC America this past Monday, with more new episodes airing Mondays at 8:30 p.m. EDT/PDT.

                            We include this preamble because the powers that be at the BBC have kindly suggested that if we want to use this photo of their Mr. Clarkson, we do so “for show promotion only.”

                            Now that we’ve taken care of that, we’ll get on with the news, which of course, pertains to the aforementioned celebrity rankling yet another group in Britain. This time it’s a result of Clarkson’s commentary in The Sun newspaper, calling people who commit suicide by jumping under trains “selfish,” suggesting that trains should be put back on schedule after these incidents as soon as possible. According to a report by Press Gazette, five groups who assist suicide victims and their families have complained to the Press Complaints Commission, stating their belief that Clarkson and his newspaper employer violated a clause pertaining to “intrusion into grief.”

                            The Sun apologized, according to the report, removed Clarkson’s column from its website and agreeing to train its staff in reporting suicide sensitively, among other concessions.

                            Given Clarkson’s long history of seemingly attempting to offend everyone in Britain, from its clergy to public sector unions, if not the world (particularly Indians), we wonder if he’ll actually be forced to complete the training. And if he does, we can only imagine what an amazing BBC special that might make.

                            Sun retrains staff over Jeremy Clarkson suicide jabs

                                



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                              Video: Ken Block’s latest Gymkhana vid goes small scale

                              ef97a kenblockhotwheelscar Video: Ken Blocks latest Gymkhana vid goes small scale

                              If you’ve been waiting for someone to combine R/C cars and Ken Block’s brand of gymkhana, you’ll want to pay a visit to Hot Wheels. The toy maker has produced a replica of Block’s rallying Ford Fiesta, and after you load the required eight AA batteries you’ll be drifting it around corners WRC-style in much less time than it took Block to learn his craft.

                              We won’t mention the center-mounted wheel under the car that makes it all a bit easier. Instead, you can scroll down to see a video of Ken Block writ small for yourself.

                              Continue reading Ken Block’s latest Gymkhana vid goes small scale

                              Ken Block’s latest Gymkhana vid goes small scale

                                  



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                                First Drive: 2013 Ford Escape [w/video]

                                Don’t Call It A Comeback

                                2013 Ford Escape

                                In the music industry, a band’s third album is typically make-or-break. You start with the debut album, introducing the general public to the band’s polished works, then comes the sophomore record, which proves whether or not the band can keep its fan base happy and gain more traction in the music scene. But the third album must show if that band’s sound and style has a good enough mix of individual flare and mainstream appeal to keep them successful in the long-run.

                                If you think about it, the same can be said about the automotive landscape, and for the purpose of this review, the Ford Escape. The first-generation Escape, launched in 2000 as a 2001 model, entered during a time when small SUVs and “cute-utes” were booming. The redesigned 2008 Escape built upon the first model’s success, and now, as the curtain is about to close on that ruggedly handsome, boxy Escape, this new third-generation model has some mighty big shoes to fill.

                                Over the past year, the Escape has been an absolute sales superstar. In 2011, Ford moved over 254,000 of the compact crossovers – a 33-percent gain over 2010’s numbers. To get an idea of just how impressive that is, know that in the same timeframe, Honda moved just over 218,000 CR-Vs, while Toyota sold 137,000 RAV4s and Chevrolet hustled around 193,000 Equinox models. Building upon that success, Ford announced that with 60,000 units sold in the first quarter of 2012, the Escape posted its best Q1 numbers in its 11-year history. Talk about going out with a bang.

                                But rather than sticking to the original formula of a small, trucky crossover, Ford has completely redesigned the Escape for 2013. Perhaps the biggest point of contention surrounding the new model is its styling – the two-box, upright design has been ditched in favor of the automaker’s Kinetic language, employing a more, shall we say, Focused appearance.

                                So here it is, the ever-important third album. Does Ford’s all-new Escape have enough mainstream appeal to take on the best and brightest of the CUV set while still being able to appeal to loyalists? We headed to the roads around San Francisco to find out.

                                Continue reading 2013 Ford Escape [w/video]

                                2013 Ford Escape [w/video]

                                    



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                                  Breaking: Lamborghini Urus SUV storms out early

                                  Lamborghini Urus

                                  Here it is, folks: the Lamborghini SUV. The only thing missing from these photos are the flying pigs.

                                  Dubbed Urus, the Lambo sport-ute will officially be unveiled at the Beijing Motor Show shortly, but thanks to the magic of the Internets, the first few photos of the mighty ‘ute have been leaked. It looks pretty similar to all of the renderings we’ve seen in the past, albeit with sleeker headlamps and a more low-slung appearance.

                                  The Urus is expected to share its platform with the next-generation Porsche Cayenne, Audi Q7 and upcoming Bentley SUV, but is tipped to be about 220 pounds lighter than all of those. Power is expected to be provided by a 5.2-liter V10 that produces around 584 horsepower.

                                  We’ll have all of the official details shortly, so keep your eyes peeled for more. In the meantime, have a click through our attached gallery to see the full brace of leaked shots.

                                  Lamborghini Urus SUV storms out early

                                      



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                                    Official: Audi Sport scoops up ex-Peugeot driver Marc Gené for reserve role

                                    Marc GenéWhen a major automaker shuts down its racing program like Peugeot did at Le Mans, it leaves a big gaping hole for everyone involved. The French automaker’s departure from endurance racing left the series organizers scrambling for another team to take its place just as it was preparing to inaugurate the new FIA World Endurance Championship. It left Audi – the Diane Sawyer of Le Mans racing, to borrow an analogy from Talladega Nights – without its Katie Couric. And arguably most of all, it left Peugeot’s roster of highly skilled drivers without a ride.

                                    Easily among the most talented of these drivers is Marc Gené, the driver who helped Peugeot clinch the checkered flag at La Sarthe in 2009. A longtime factory test driver for Ferrari (and one time grand prix driver for Minardi and Willaims), Gené has a wealth of experience that couldn’t very well be left untapped. So it should come as little surprise that Audi has scooped him up.

                                    Although the German automaker already has a full roster of pilots – proven race winners, no less – at its disposal, it has found room for Gené as a reserve driver. In this capacity Gené will be filling in for an uninjured Timo Bernhard to drive the #3 Audi R18 Ultra together with French drivers Romain Dumas and Loïc Duval at Spa-Francorchamps in just a couple of weeks, and will undoubtedly be on hand to jump into the cockpit at Le Mans in June should duty call.

                                    Continue reading Audi Sport scoops up ex-Peugeot driver Marc Gené for reserve role

                                    Audi Sport scoops up ex-Peugeot driver Marc Gené for reserve role

                                        



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                                      Report: Abu Dhabi poised to get out of Daimler

                                      Daimler sign in the rain

                                      Abu Dhabi’s Aabar Investments spent $2.7 billion buying 9.1 percent of Daimler in 2009. At the time, Aabar said it was “excited by the commercial potential of our partnership,” both companies said it was a long-term investment and spoke of joint ventures, and Mercedes-Benz committed to building a training center in the emirate. Aabar then bought a share of Daimler’s stake in Tesla, and later that year said it wanted to take its Daimler stake to 15 percent.

                                      Turns out three years counts for long term these days, because a story first reported in Germany’s Manager Magazin indicates the fund wants to cash out. There are conflicting accounts as to how big a stake Aabar still has – Reuters says 9.1 percent, Automotive News says three percent, but based on “sources familiar with the situation” various watchers seem sure that the stock sale is on the way.

                                      Aabar won’t comment on the situation, Daimler has said it isn’t aware of Aabar’s intention to sell. Automotive News suggests increased fiscal discipline of Abu Dhabi’s deal making could be behind the move, other analysts say the position isn’t unusual since the stock price has doubled since Aabar bought in. Still others say that with Aabar having made $113 million from selling its Tesla stake earlier this year, walking completely away from Daimler with money still on the table could indicate broader back-room disagreements.

                                      Abu Dhabi poised to get out of Daimler

                                          



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                                        Report: Lada 2107 reaches the end of its road

                                        74dec lada2107 Report: Lada 2107 reaches the end of its road

                                        “It’s time to say goodbye,” said AvtoVAZ spokesman Igor Burenkov to Russia’s RIA Novosti about the end of Lada 2107 production, which happened this week. The Lada 2107, also called the Lada Riva, has been plying Russian roads since before Ronald Reagan started redesigning walls. It’s one of the cars you’re most likely to see in grainy film and video clips from the days before Glastnost.

                                        As you might suspect, the Lada 2107 has Fiat origins that go back to the early 1970s. This old comrade has been wound down to make room for the cars Lada is calling “new” classics. Newer Lada models like the Granta, Priora and Kalina are going to move into the Izhavto production facility that had been building the “Seven,” and Lada is expecting demand for the newer cars to continue rising as more features and body style variations continue to be rolled out. До свидания, друг.

                                        Lada 2107 reaches the end of its road

                                            



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