At the New York Auto Show recently, Hyundai unveiled its newest model, the 2011 Hyundai Equus, which is a car that is definitely desirable. However, at a cost of around $55,000, it will not be affordable for many consumers.
A new U.S. government study indicates that new automotive technologies may boost mileage by as much as 50%, but could also add up to $9,000 to the cost of the new vehicles.
Chinese automaker and battery manufacturer, BYD (Build Your Dream), and Daimler AG, owner of Mercedes-Benz, have created a 50-50 partnership for a new green car project. Shenzen BYD Daimler New Technology Company will make all-electric vehicles for sale in the Chinese market.
In a filing last week, Tesla reported that it has generated $13.8 million in “zero-emission vehicle” credit sales since 2008. Purchasing the credits helps automakers comply with California’s stringent tailpipe emissions regulations.
General Motors Company’s new rear-wheel-drive Alpha platform, which was originally designed for the 2013 Cadillac, will be used to underpin a number of new designs.
Fiat S.p.A. has announced a sweeping restructuring of its European distribution network, which will reduce its Lancia and Chrysler dealerships by about 350. The plan also calls for Chrysler products to be sold under the Lancia name throughout Europe with the exception of Ireland and the UK, where Lancia vehicles are not sold. The Chrysler name will continue to be used in those markets.
Toyota Motor Corporation will continue its current level of incentive spending in light of last month’s lackluster sales numbers according to executives with the company’s largest independent U.S. distributor.
Now that Ford Motor Company has decided to wind down its Mercury brand, most analysts agree the challenge will be in building up the surviving Lincoln line to satisfy its customers and its dealers. Ford’s president of the Americas Mark Fields said, “We have to make a very compelling case to our dealers very quickly.”
In a recent interview with the Detroit News, former “Car Czar” Steve Rattner praised General Motors Company chairman and CEO Ed Whitacre but said the automaker “slightly elasticized the reality of things” when it claimed to have paid its government loans off “in full.”