Warren Buffett sure knows how to pick em’. Most folks have never heard of China’s BYD auto company and by the time they do Buffett might have pocketed another cool billion or two. BYD is selling cars like crazy in China and be sure you will see them state side in the near future!
From the Detroit News:
Shanghai — BYD, the Chinese automaker with backing from billionaire Warren Buffett, says its net profit more than tripled last year as the company’s F3 sedan topped the country’s list of best-selling autos.
BYD is among several Chinese automakers whose fortunes have risen as sales took off last year, largely thanks to government tax cuts and subsidies aimed at boosting demand, especially for energy-efficient small vehicles.
BYD’s net profit soared to 3.79 billion yuan ($555.5 million) in 2009, the automaker reported late Sunday, up from 1.02 billion yuan the year before.
Just when you start to realize how good Kia is doing they one up it and release the 2011 Kia Optima ahead of the New York Auto Show. These events make you think about how much Kia will grow with home runs abound. The skin and interior are both serious upgrades and the new model is longer, lower and wider than it’s predecessor. It appears this car has styling, muscle and elegance at what will be a very reasonable price. I’m not too crazy about the rims but I need to see those in person! Other than that this will be a big, big seller!
Kia has just released a selection of photos of the all-new 2011 Optima (known as the Magentis in some markets), ahead of the car’s world premiere at the New York Auto Show. Simply put, it’s stunning, looking like a more premium German model with a touch of Ford Taurus muscle.
This new model is longer, lower and wider than the predecessor, which should result in a more comfortable ride, better handling and more interior room. Based on the same platform as the newly released Hyundai Sonata, the Optima doesn’t have quite the coupe-like look, with a rather high Lexus IS-like rear end. It features Kia’s “tiger” front end design with a flat nose and large grille, while LED lights are used on the bumper.
Looks like the runaway Prius in Cali might not have been what we were told? An investigation is underway and DashBoardNews.com will keep everyone posted on the outcome.
From the Detroit News:
An initial investigation by federal safety investigators has raised questions of whether a highly publicized incident of a runaway Toyota Prius in California could have happened, saying they could not replicate it during testing.
According to a draft of the memorandum by congressional investigators obtained by The Detroit News on Sunday, a review by Toyota officials and National Highway Traffic Safety Administration investigators of a 2008 Toyota Prius has not be able to duplicate the incident. Last Monday, owner James Sikes said the vehicle sped out of control to more than 90 mph before a California Highway Patrol officer helped him come to a safe stop.
NHTSA and Toyota investigators inspected the vehicle and took it out for a test drive last Wednesday and Thursday. Toyota has recalled more than 8.5 million vehicles worldwide, including 6 million in the United States, for sudden unintended acceleration. NHTSA has received more than 3,300 complaints and allegations of 52 deaths linked to Toyota vehicles since 2000.
You knew it was a matter of time before Saturday Night Live went after Toyota for their alleged runaway cars. Well, They did it Saturday night and here is a link to the skit.
Lexus is staying aggressive with this just announced and revealed IS350C F-Spot Special Edition. This one one great looking car and should bring in new buyers to the upscale showrooms of Lexus.
From AutoGuide.com:
After announcing the IS350C F-Spot Special Edition earlier this week, Lexus has now provided us with the first photos of the sporty drop-top. Priced from $57,500, it will be offered in only Tungsten Pearl (above) or Obsidian. Unique to the Special Edition is a set package of F-Sport goodies including: new 19-inch forged wheels with Michelin Pilot Sport tires, upgraded front and rear brakes, lowering springs, Bilstein shocks, sway bars, a new F-Sport grille, as well as F-Sport floor mats, an F-Sport shift knob and F-Sport badging.
The Orange County, California, District Attorney has announced plans to file a civil lawsuit against Toyota. The suit is over safety concerns with Toyota vehicles, and comes as Toyota has recalled over eight million vehicles worldwide due to several different safety issues. The suit aims to stop Toyota Motor Sales U.S.A. Inc. from “continuing to endanger the public through the sale of defective vehicles and deceptive business practices.”
The highly anticipated (in jails and FOP lodges around the country) “Police Interceptor” from Ford has finally been uncovered! That is one tough looking Cruiser and it comes with an optional AWD with 365 horsepower.
From the Detroit Free Press:
Ford introduced its all-new Police Interceptor to a crowd of law enforcement officials today at the Las Vegas Motor Speedway in Las Vegas and said it is developing a new sport utility-based police vehicle that it will unveil later this year.
The new Police Interceptor that Ford introduced today will replace the company’s iconic Crown Victoria Police Interceptor, which has dominated police car sales for years.
Ford said the new vehicle is more durable and performs better than the outgoing Crown Victoria Police Interceptor. The new car is based on the same structure as the Ford Taurus full-size sedan and will be built at Ford’s Chicago assembly plant.
Confusion with dealers at GM is not a good start to reinstatement. What has changed in the last year that GM now needs another 661 dealers? Why did they get rid of them in the first place? Who made the final call to ax these dealers last year?
From CNN.com:
NEW YORK (CNNMoney.com) — The 661 axed auto dealers General Motors is offering to reinstate aren’t ready to pop the champagne just yet. They’re still waiting to find out about the terms they’ll have to meet to regain their franchises.
“Initially, we were excited,” said Howard Braunstein, CEO of M&M Auto Group in Liberty, N.Y. “However, I am concerned that GM’s offer for reinstatement will mandate requirements that will be difficult or impossible for many dealers to meet, especially in the 60-day timeframe we were given.”
With all of the high profile safety recalls out there we need a what to do list on recalls. Here it is from Yahoo and it’s a good read if you have any concerns about your vehicle.
If you own a car, you’ve probably received a safety recall notice in the mail at some point. Manufacturers are required to attempt to notify owners of recalled products and to provide a free remedy. You may be inclined to ignore a recall notification letter – especially if it contains confusing jargon or seems like it concerns something minor.
But here’s a newsflash: In the realm of safety recalls, nothing is minor. According to Rae Tyson, spokesman for the National Highway Traffic Safety Administration (NHTSA), the federal agency that issues automotive recalls, every recall has a serious safety implication. “A defect exists that is a safety issue and it needs to be corrected,” Tyson says. “There are some worse than others, yes, but in some way they all have potential to lead to injury or death.”
GMAC is on the ropes? That’s right, after over $17 billion in US taxpayer bailout funds this is the new headline ” Congressional panel says GMAC has no business plan; suggests break up” We need some answers fast! Maybe Alan Mulally could right this ship?
From Automotive News.com:
WASHINGTON — GMAC Inc. still has no business plan even after receiving a $17.2 billion investment from the government, and the Treasury Department has been lax in making sure that the bank repays taxpayers, a congressional panel said today.
“The panel is deeply concerned that Treasury has not required GMAC to lay out a clear path to viability or a strategy for fully repaying taxpayers,” said the Congressional Oversight Panel, which was created to oversee Treasury’s spending of Troubled Asset Relief Program funds.
Treasury should consider the possibility of breaking up GMAC and merging its auto-finance unit back into General Motors Co., the panel said in a statement.
