Volkswagen boosts production in Mexico
Volkswagen’s group head of production, Jochem Heizmann, opened a new part of the company’s massive Puebla plant in Mexico on Tuesday. He reaffirmed plans to build a powertrain plant in North America that could start producing engines starting in 2013.
Investments of $1 billion have been earmarked for Mexico through 2013.
“The choice of location has not been finalized yet, but a decision will be taken soon. Mexico is one possible option,” Heizmann said.
Puebla, which will manufacture over half a million vehicles every year, will start building the next-generation Beetle in 2011.
The factory is VW’s largest in the Americas and one of the largest worldwide. An engine plant in Mexico close to Puebla is therefore considered the most logical choice for a location in North America.
Why buying second hand car equals money saved?
Investing in a new car is a very bad idea. This is one asset which loses its value the moment it steps out of the car showroom. It continues to depreciate over the years. In the first year itself, it can depreciate by as much as 35%. Many people are of opinion that cars are much more than a means of transport. For them it symbolizes a lifestyle. But in these tough economic times, it makes more sense to make wise purchases then to buy something only because you fancy it.
A new car is a very expensive proposition with loans, insurance and other maintenance expenses. Buying a car can be a big drain on your finances. If you are planning on buying a car then you will be advised to think about second hand cars.
By purchasing a second hand car, you can save a lot of money. A brand new car is worth only about 60-70% of the original price by the end of the third year. Another advantage of buying used cheap cars is that you could buy a full loaded higher model with lot of features and accessories at very affordable prices.
However, buying a second car can be a tricky decision. You should always check a used car thoroughly and only buy it once you are full satisfied.
Ford stock tumbles on sales estimates
Ford’s stock price fell to its lowest level since Dec. 22, 2009 during mid-day trading today following reports that industry sales were sluggish in June and as the company faces a Wednesday deadline to make an $860 million payment to a UAW retiree trust fund.
Ford’s stock traded as low as $9.82 mid-day.
The automaker is required to pay the UAW’s Retiree Medical Benefits Trust by Wednesday to fund health care benefits for former hourly workers.
Ford must pay $250 million of the required payment in cash and can pay as much $610 million in stock.
Bloomberg News reported on Monday that Ford might issue stock to make the payment so it can use cash to better manage its balance sheet. In the past, Ford shareholders have been concerned about additional stock diluting the company’s stock.
“We do not run our business based on day-to-day stock changes,” said Ford spokesman John Stoll.
But Ford’s falling stock price probably has little to do with how it will meet the trust fund payment obligation, said Mirko Mikelic, senior portfolio manager at Fifth Third Asset Management in Grand Rapids.
Where should one go to find the best car lease offer?
With the numerous car lease offers available in the market, finding for the best car lease offer is a tough thing to do. Before finally availing a certain offer, it is important that you know if you are on the best offer in town. However, how will you know if the car lease offer presented to you is a good one if not the best?
Majority of us consider a low lease price as the best offer available. However, it is also important to consider other factors when choosing for the best car lease offer like the ability to get high residual, low money factor or lease rate, and low acquisition or bank fee. A combination of these factors will make a good and probably the best.
After knowing the factors that comprise the best car lease deal of offer, it is now time for you to know where you should go in order to find the best car lease offer.
Media – members of the media like the newspaper, radio and television will definitely be able to provide you with the best deals in town through their informative advertisements. If you are fond of reading the newspaper, you surely have notice of the section that contains numerous ads from your local care dealers, car leasing companies, manufacturers and more offering almost the same offers. Through these ads, you can surely compare one offer to another and end up with the best one after considering all the factors that comprises a best car leasing deal. On radio and television ads on the other hand, you can jot down all the information stated on the ads and have them compared with each other.
Car pricing Services – this type of source is available online. These car referral or pricing services will offer you with deals at discounted prices. All you have to do is to provide them with the type of vehicle you need, they will be the one to look for dealers in your area, and the ones who will agree to provide with the best offer will be the one to contact you displaying their offer. It is best to ask for a quote from different companies to have a good comparison.
Internet – the internet is another great source in finding for the best car lease offer. Bear car deals website normally have list of current lease deals of different car model and makes, which you will surely found one that suits best for your need.
With the above list of sources, you will definitely find one great deal that is best for you.
Worst used car one should avoid
Buying used cars is probably the most practical way when buying a car. Used cars are normally priced almost half the price of the new ones and majority of them are still in good shape and working condition. Used cars for sale can easily be found at many of the online used car sale sites or at many of the used car showrooms near you. Of course when buying our car, everybody wants to end up with the best. Thus, below are some of the used cars listed as worst by many of the independent and honest reviewers. However, you can always depend on your own judgment and buy whatever you feel like buying.
GMC Canyon – the GMC Canyon especially the 2009 model was able to praise car lovers with its V8 engine making it able to compete with other trucks of the same segment. However, users claim for its trouble reliability history. Its 2004-2008 models are good only for daily commuting and come with the electrical wiring problems as a common problems reported.
Chrysler Sebring – despite of the closed dealership for Chrysler and prices for both new and used car goes unbelievable, majority of the reviewers are still not into the Sebring sedan or convertible. Its shaky reliability, cabin quality, and relatively poor performance are a few of the reasons why the Chrsyler Sebring Sedan is categorized as one of the worst used car to buy.
Ford Explorer – the Ford Explorer ranks as one of the affordable midsized SUVs and was being appreciated by its excellent off-road capabilities. In addition, the Ford Explorer also has the ample cabin space. However, those models made from 2002-2005 have garnering complaints about cracked window panels and faulty transmissions. In addition, the later models of the Ford Explorer has common problem reports about its coolant and oil leaks, rattling timing belt problems, and ticking valves in it 4.6-liter engines.
Dodge Intrepid – the Dodge Intrepid has been hailed as one of the best buys during fro the period of 1998-2004. The model’s passenger and cargo room are the most liked. However, the Intrepid 2000 models have received the most complaints about engine trouble. In addition, the federal government because of its faulty airbags and seatbelts has previously recalled the Intrepid. Other problems reported for the Intrepid include electrical problems with the model’s cabin lights and headlights. In addition, there were also reported problems like engine tapping noise if you opt to drive a V6 Dodge Intrepid.
Ferrari 250 Testa Rossa set for Monterey auction
A good news for all you Ferrari lovers and vitage car lovers with loads of money. Now, they can buy 1958 Ferrari 250 “Pontoon Fender” Testa Rossa, which will be featured in August at RM Auctions’ 25th Sports & Classics of Monterey event.
The Scaglietti-designed race car, serial number 0738 TR, is expected be one of the most valuable cars ever offered during Monterey’s auction week.
“RM set the current world-record price for a car sold at auction with another pontoon-fender TR selling for $12.4 million,” said Rob Myers, chairman and CEO of RM Auctions. “That result was a true testament to the demand for these iconic Ferraris and is indicative of the strong potential for this example to set yet another auction record.”
One of 21 “Pontoon Fender” 250 Test Rossa cars to be produced from 1957 to 1958, 0738 TR was raced in South America for Esquardari Largartixa.
Mercedes, Renault-Nissan Team Up
Daimler chief Dieter Zetsche and Renault/Nissan chief Carlos Ghosn have signed an agreement to share technologies and platforms, with a small 3.1% equity exchanging hands. The two heads lead a 12-member committee to identify and work on projects where the three auto giants can find synergy to better compete with competitors.
This is the latest in a long line of attempts by luxury car Mercedes to partner with a mass-market automaker that can help with popularly priced models without compromising the three-pointed star brand. The 3 companies expect to realize cost savings and added revenue of about $5.4 billion from the deal, which is open-ended in time and number of potential projects. It also helps Renault/Nissan fill up its underutilized capacity and helps both pose credible threat to Volkswagen Group surge.
Van Leasing for Small Businesses
If you run a small business and you need a van, then leasing one can be advantageous compared to purchasing one outright. This article outlines some of these benefits.
Firstly, leasing does not require a large down payment. Although a leasing deposit is often required, it is mostly significantly less than when purchasing a van
Next, leasing provides a good way of budgeting. The monthly payments are fixed for the period of the lease which can be up to five years, so your cash flow forecasts will be accurate into the future. In most cases the payments will be less than those you would make on repaying a purchase loan.
As the payments are lower, there is the opportunity to get a better van for the same monthly outlay which is an opportunity to improve the status of your business.
If you opt for a contract hire type of agreement, you do not have to be concerned about what happens at the end of the lease. You simply return the van to the dealer. Maintenance and repair can be factored in with the lease, which protects you from any unpleasant surprises should your van break down.
There are some downsides to leasing that you should take into consideration also. With a contract hire agreement there are restrictions concerning the mileage that the van covers along with the minimum condition in which the van must be returned. If additional miles are travelled then there is a surcharge for each mile, and if the van is returned in a poor condition then there is also a surcharge.
As we have already alluded to, there are different types of van leasing models available. In addition to contract hire there are models in which the van becomes the property of the business at the end of the lease subject to making a final payment, often referred to as a balloon payment.
Each of these models has benefits and drawbacks and the one that is the most appropriate for any specific business will depend on individual circumstances and these should be discussed with the dealer before taking out the contract.
General Motors commits $245 to Canadian Plant
General Motors has finally declared the investment of an additional $245 million to fund the updating of its transmission production line at the St. Catharines plant in Ontario, Canada.
Though the investment will not directly create any new jobs, GM management says the investment will help to secure the 400 jobs currently at the facility. The investment will also provide GM with a new fuel-efficient six-speed automatic transmission, to be used in front-wheel drive applications beginning in the first quarter of 2012.
GM plans to use the transmissions produced by the updated Canadian plant for production of the Chevrolet Equinox coming out of the CAMI plant located in Ingersoll, Ontario, as well as the GMC Terrain and Buick Regal, both of which will be produced at the Oshawa, Ontario plant.
Today’s announcement is the second announced investment of nearly $250 million for the St. Catharines plant, as GM had previously committed $235 million for the production of a yet-to-be-named V8 engine. In total, GM will invest $480 million and procure 800 jobs for at least the next few years.
The decision to produce transmissions at St. Catharines was not always final, as GM already had a transmission production facility in Windsor.
Kansas City car dealer admits to sending $23,500 to Al-Qaida
A Kansas City used-car and auto-parts dealer admitted in federal court to sending $23,500 to banned terrorist group al-Qaida.
Khalid Ouazzani pleaded guilty on Wednesday to terrorism-related charges in court in Missouri and admitted he sent the money to the terrorist organization through a bank in the United Arab Emirates in 2007-08. He also pleaded guilty to bank fraud and money laundering.
The 32-year-old was born in Morocco but is a naturalized U.S. citizen. His car business was called Truman Used Auto Parts. He sold it in 2007 and used the money to repay a coconspirator, federal officials say.
Ouazzani admitted his intent to join al-Qaida and swore an oath to the terrorist organization to an unnamed coconspirator. He faces a sentence of 30 years to life.
“National security is the highest priority of the Department of Justice,” Beth Phillips, U.S. Attorney for the Western District of Missouri, said in a statement. “I applaud the diligent work of our law-enforcement partners from local, state and federal agencies . . . much of their work is done behind the scenes, investigating and gathering information, but they play a crucial role in preventing terrorist activities.”
Ouazzani’s lawyers issued this statement after the plea:
“He deeply regrets what he has done and is taking steps to atone, to the extent he can, for his crimes. He will continue to do so.”
Are Government seized cars for sale cheap?
Many of us have not known that we can buy Government seized car. Today with the growing economic crisis, many have sourced out as to where they can buy beast value cars for sale and many of us have now known that government seized cars are indeed the only way for us to own a good and reasonably cheap priced car. You might be wondering how those people afford to buy sleek and luxurious cars. Today, that you already know a good source for cheap cars, you will never get envy anymore, as like them, you too can easily own those highly priced car in the market.
Buying a used car is the most common way to save some amount of money for your car. However, buying on government car auction will surely let you save huge amounts even if you opt to buy a brand new one. Everyone wants to own a car, but only a few have the chance to buy one because cars are generally expensive. However, if you are not really into a brand new one, you can always rely on a second hand or used cars and government public auctions.
You might be wondering why government auctions have the cheapest price that you cannot find anywhere. The existence of government auctions is due to the high expense that the government will spend in order to maintain and upkeep those seized cars that they have. Since the purpose of the auction is not to gain any profits, you will most like to pay only the amount that the government spent in getting them and not more than those amounts. Since majority of the car seized by the government are from those tax evaders and criminals, the amount that you will be paying for cars like these will be most likely to none. For the government, keeping these sized cars would only mean maintenance and inventory cost, which is the main reasons why you will get cars for sale at its best value when buying from a government auction.
In order for you to have access to thousands of car auctions, join as many car auction membership sites as you can. They will inform you of the auction details like the location, models, time, and date of the next auction. Before heading to a car auction, it is important that you will know the price of the cars for sale when it is brand new or a used and sold via dealership. Government seized car auction is definitely the best place to be to find best value cars for sale.
Junk your Car in a Green Way
My dad finally decided to get rid of the eye-sore in the driveway, his 89′ Ford Probe! My mom has been on his back for the past four years because it does not start and he kept promising to fix it up (like new, he said) but he never found the time. My dad is a real hard-core environmental guy and recycles everything in the house. He even four huge compost containers in the backyard so we throw out very little garbage. Finally he agreed to get rid of his old junk car, but only if I could find an eco-friendly way for him.
I searched the web and found a company that specialized in disposing of old cars in an eco friendly way, actually someone from a cool green forum mentioned it and wrote an article about the success they had working with this company. Sure enough, pick up of the car was free and they even had a little video about the recycling methods they used on their website. Help my family and I keep the planet green by recycling your car with an eco-friendly auto recycler.
Nissan Juke
Sporting a very distinctive body, a raised ride height, the option of four-wheel drive with torque vectoring and a new 187bhp 1.6-litre turbo engine, the Juke will make its public debut at the Geneva Motor Show next month before going on sale in October. It will cost around £13,000, competing with competitors like Vauxhall’s Meriva and MINI’s Countryman.
The showroom-ready version features many touches from the Qazana concept that previewed it, including circular spotlights at the front, a wide-mouthed grille, pronounced wheelarches, hidden rear door handles and chunky, four-square proportions.
Inside, the cabin is just as stunning with a centre console inspired by a motorcycle fuel tank, finished in high gloss paint. Large twin chrome-ringed dials mark out the instrument binnacle, while the fascia also features color displays for the ventilation system. With seating for five and a rear bench that splits and folds flat, plus a hatchback boot and plenty of cubby holes, it should offer decent practicality too.
Beneath the skin, the Juke features a development of the same platform that underpins the Micra and the Clio of Nissan’s Alliance partner, Renault. Front-wheel drive versions get MacPherson struts with a torsion beam at the rear while four-wheel drive models have a multi-link rear suspension modelled on the system found on Qashqai.
The latter gets ALL-MODE 4×4-i – a new development of Nissan’s electronic all-wheel drive system, which now features torque vectoring designed to enhance agility and reduce understeer when cornering. However, don’t expect much off-road ability. “Juke was born in an urban environment and that is where it will spend most of its life,” said Simon Thomas, Nissan’s European senior vice president for sales and marketing.
Three engines will be available: a 1.5-litre diesel and two 1.6-litre petrol units. Topping the petrol line-up is a new direct injection turbocharged unit that produces 187bhp and 240 Nm of torque. It is the only engine to be available with four-wheel drive and gets a new six-speed CVT automatic.
Mercedes predicts strong Q2 growth after solid April
Sales of Daimler AG’s Mercedes-Benz brand rose 15.3 percent to 93,100 units in April, 2010, the third German luxury carmaker to confirm that a recovery in demand continued over last month.
“It’s a great start into the second quarter during which we plan to substantially boost sales,” Joachim Schmidt, head of sales and marketing for Daimler’s passenger car business, said in a statement. “In line with the sales development, our incoming orders have increased significantly as well. That is particularly due to the high demand in China and the U.S. and the great success of the E and S class.”
Mercedes continues to lag rivals BMW AG and Audi AG in global sales through April by about 20,000 units each.
Daimler also is struggling to achieve any growth with its Smart brand. After an 11 percent drop to just 9,000 units in April, Daimler hopes a refreshed ForTwo in the next quarter will provide a boost to sales.
BMW to save billions by 2012
World’s largest luxury automaker – BMW – announced that it is well on track to meet and even exceed its goal of reducing costs on components and supplies by $5.2 billion by 2012. BMW says that it was able to do so partly due to a partnership with rival carmaker Mercedes-Benz.
BMW has announced that it is on track to not only meet its goal of saving $5.2 billion by 2012, but that it will “significantly” surpass its goal.
“We can say that from today’s perspective we will certainly and easily reach the 4 billion-euro savings goal, and even significantly surpass it,” said Herbert Diess, the management board member responsible for the cuts.
BMW and Mercedes-Benz have worked together during Q1, 2010, which is expected to reduce costs for both automakers by roughly $129 million per year by 2012, according to Diess.
Now Chevrolet Corvettes added to Recalled lists
Now it’s the turn of Chevrolet Corvette to be added to the list of recalled cars.
General Motors is recalling some 2005 and 2006 models for a steering-column problem. About 40,000 cars produced between March 2004 and January 2006 could be affected.
The problem is that repeated movement of the tilt-and-telescoping steering column could cause a signal interruption, resulting in a warning message appearing and the brakes coming on. This could make the sports car pull to the right or the left. If the driver doesn’t respond, a crash could occur. The recall was expected to begin on April 30, and dealers will repair the Vettes free of charge.
Toyota Lexus GX 460 sales resumes
Toyota has resumed sales of the 2010 Lexus GX 460 SUV, a fortnight after it announced a recall of the 9,400 models already sold.
The Japanese giant stopped sales of the vehicle after Consumer Reports magazine declared the SUV a safety risk and warned that it was prone to oversteering in turns.
Lexus tested the car in response to the warning and made changes to the vehicle’s electronic stability control software. New vehicles are being built with the new software and dealers will install software upgrades on the recalled vehicles.
The Lexus GX 460 is built on the same platform as the Toyota 4Runner, which is also currently being tested by Toyota to detect any similar problems.
Schumacher to try new chassis for Spanish Grand Prix
Seven-time F1 champion Michael Schumacher will not just have a racing car with a package of improvements for this weekend’s Spanish formula 1 Grand Prix but he will have a different car from the one he used in the season’s first four races.
Mercedes GP will give the 41-year-old German a different chassis in Spain, as the team attempts to help its driver find the much needed speed to make a mark in the races. Also, Mercedes will introduce a longer wheelbase on its cars in an effort to improve weight distribution, as well as a host of aerodynamic upgrades.
“It’s not a new chassis per se, it’s a chassis we used in testing,” team boss Ross Brawn told Reuters. “The one he had got damaged during the first few races and we repaired it as best we could at the races. But now we are back at base; we are going to reintroduce the test chassis, and he will be using that in Barcelona.”
Schumacher has been beaten by teammate Nico Rosberg in every qualifying session and race in 2010, a 0-for-4 record that the legend has never before experienced at any point in his F1 career. He is known to have had a difficult time coming to grips with the Mercedes GP W01’s handling, which has leaned toward an understeering characteristic, something Schumacher dislikes. The latest raft of changes is intended to give him a stronger front end.
Why Electric Cars are becoming Popular
Since, the global warming concerns and higher fuel prices, popularity of the electric cars is on the rise. According to an industry estimate, by 2020, electric cars will be in vogue globally, and their global sales will be up to $635 billion.
With this rise in popularity and sales for electric cars, the need for appropriate universal charging systems will be even more critical. And this can be made possible only through the interaction and concerted efforts of the stakeholders like policy makers, car manufacturers, researchers working in the field of automobile science, and consumers all across the world.
Electric cars are structurally very economic and have lesser automotive parts which cheaper than those available for cars with conventional fuel options. The most significant advantage of electric cars is that they are not polluting and cut down to emission level to the minimal, and in today’s time this is very vital, as ensuring sustainable development through the use of renewable energy sources is the need of the hour.
However, there is a challenge in the way of developing these alternative energy driven cars. The cost of a high-capacity rechargeable battery is almost two-third of the cost of the electric cars, and this makes them quite an expensive buy for average consumers. Also, the issue of the recharging standard is also there.
But regardless of these concerns, all the leading nations are working towards this critical issue. Cutting-edge technologies are being discovered every alternate day. It is expected that a solution will be worked out soon, and alternative mobility solutions like electric cars will be able put up a grand show in the years to come.
2011 Toyota Avalon gets a makeover
Toyota’s large car will get minor makeover for the 2011 model year, marked by fresh exterior and interior designs and a longer standard-feature list. It makes its world debut at the Chicago auto show.
It will sport a wider grille and new headlamp housings with xenon low beams and light pipes to produce a unique nighttime look. Fog lights are now integrated into the front trapezoidal bumper. The rocker panels and outside mirrors with integrated turn signals have also been updated.
On the rear side, the taillights sport a new, sleeker shape for reduced drag and include LED light pipes. The dual-exhaust outlets are integrated into the rear bumper through a trapezoid shape outlet to continue the theme started with the fog lights up front.
Interiors now more spacious and comfortable with luxury touches from the woodgrain trim. Rear occupants get larger and reshaped headrests to go along with reclining rear seats. A new instrument panel uses easy-to-read Optitron gauges, and steering-wheel controls for audio, climate and information systems are included.
New standard equipment includes Bluetooth hands-free phone and music streaming, XM satellite radio and both a USB and 1/8-inch auxiliary connectors for portable music players. A touch-screen navigation system with rearview monitor is an option.
Powertrain equipment is carried over from the current car with a 3.5-liter, 268-hp V6 bolted to a six-speed automatic transmission. However, fuel-economy ratings improved by 1 mpg in both the city and highway to 20 mpg/29 mpg over the current model.
When the 2011 Avalon goes on sale in April, it will be offered in base and Limited trims. Base Avalons will include an eight-way leather-trimmed power driver’s seat, backup camera, dual-zone automatic climate control, moonroof and 17-inch alloy wheels as standard equipment. In addition to all of that, Limited versions get an eight-way passenger’s seat with lumbar support, driver’s-seat cushion extension, rain-sensing wipers, Smart Key, cooled leather seats and 17-inch, 10-spoke mirror-finish wheels.