Yahoo! Finance: Hot Cars You Can’t Have
They don’t know how much it will cost, but more than 50,000 “hand-raisers” have already pledged to buy Chevy’s plug-in hybrid. The price (speculated to be around $40,000) means little to the first adopters waiting to get 40 miles on a single charge and itching to install outlets in their garages. The problem is that GM only plans to build 10,000 Volts in 2011 and 30,000 in 2012, which leaves 13,000 hand-raisers sitting on their hands for two years. Yep, that’s a two-year waiting list for a car that presents more questions than answers in its first iteration. Full Story…
USA Today: 2011 Ford Explorer Makes its Debut As An Evolved SUV
Ford spent a lot of time working on improving the Explorer’s fuel economy. The new version weighs 100 pounds less than the last Explorer, and it’s more aerodynamic. Official fuel-economy numbers are not yet out, but Ford says the 2011 will get 20% to 30% better government mileage ratings. Lindland says she expects ratings to come in even better: She thinks engineers will find a way for at least one engine option to get more than 30 mpg on the highway. “Thirty mpg is the new mantra. Everyone is looking for that 30 mpg threshold. I hope they get it.” Full Story…
USA Today: Watchdog Report Says GM, Chrysler Shut Dealers Too Fast
“Treasury should have taken every reasonable step to ensure that accelerating the dealership terminations was truly necessary for the long-term viability of the companies,” the report says. In its restructuring plan, GM had planned for a gradual termination of dealers, but the Autos Task Force sped that process up. The SIGTARP report, signed by Special Inspector General Neil Barofksy, questioned whether that was necessary. “Thirty mpg is the new mantra. Everyone is looking for that 30 mpg threshold. I hope they get it.” Full Story…
Los Angeles Times: Auto Sales in U.S. Down 10.8% in June from May
The industry sold 983,738 vehicles last month, fewer than many were predicting but up 14.4% from the recession-depressed levels of June 2009. Hoselton said there was still room for automakers to increase incentives, which “remain relatively low.” Easier credit and little risk of another large automaker bankruptcy also should make for a more positive selling environment in the second half of the year. Full Story…
Reuters: UPDATE 4-Fiat Drives Optimism for Euro Autos, Moves On Spin-Off
Fiat Chief Executive Sergio Marchionne told a conference call he saw a 10 percent drop in Europe’s car market in the second half. In April, when Fiat presented its new strategy along with its first quarter results, the company said it saw the European market falling 15 percent in the full year. Fiat said it saw overall passenger car sales remaining stable in the key Brazilian market in the second half, while light commercial vehicle sales would rise around 20 percent, it predicted. Full Story…
The Chevy Volt is A Hot Car You Can’t Have
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