Cars.com News Briefs: March. 1, 2012

Here's what we have our eye on today: Ford may lose $500 million to $600 million in the tough European market this year, according to Ford CFO Lewis Booth, who spoke with Bloomberg News. Other large carmakers, such as Opel (owned by GM) and PSA Peugeot Citroën, also are having a tough time operating in Europe and have agreed to collaborate on some vehicle developments together. Europe's unemployment levels continue to hit record highs, according to the Economist. The economies of Italy, Belgium, Greece, the Netherlands, Spain and Portugal have officially slipped back into recession.  Chrysler may dump Ally Bank as its preferred lender, according to Bloomberg Businessweek. General Electric Capital Corp., U.S. Bancorp, JPMorgan Chase & Co. and Ally are all vying for Chrysler's auto loan originations, which come in at over $25 billion a year. Wells Fargo is interested, too, according to Bloomberg. Ally's current relationship with Chrysler's dealers and customers ends in April 2013.  Terrafugia, maker of the first "flying-car," will debut its vehicle at the 2012 New York auto show, according to the company. The Transition, which is the name of the model (shown above), has folding wings and a propeller. It will be street legal, too. The company will discuss its plans for the Transition at the show, with a new round of flight tests scheduled for next month, according to the Wall Street Journal.  The state of California is set to pass new laws that will permit automated cars on its roads, according to Bloomberg News. The new law will mimic the legislation passed in Nevada earlier in the year that gave its highway authority the permission to develop regulations for self-driving cars on state roadways. Google, who's developing its own advanced automated-vehicle technology, had a strong hand in the legislation passed in Nevada and in California. Similar bills have been introduced in Hawaii, Oklahoma, Florida and Arizona, says Bloomberg. from KickingTires http://blogs.cars.com/kickingtires/

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February Sales (Developing Table: ) Strongest Month In 4 Years

February sales are coming in stronger than expected, indicating a post-Presidents Day boom. Chrysler and Volkswagen lead the charts with a 40 and 43 percent gain over February 2011. February 2012 New Car Sales (Developing Table) Automaker Feb. 2012 Feb. 2011 Pct. chng. 2 month 2012 2 month 2011 Pct. chng. BMW Group – – –% – – –%     BMW division – – –% – – –%     Mini – – –% – – –%     Rolls-Royce – – –% – – –% BMW Group – – –% – – –% Chrysler Group 133,521 95,102 40% 234,670 165,220 42%     Chrysler Division 27,008 12,628 114% 44,612 22,333 100%     Dodge 42,692 33,561 27% 74,146 57,875 28%     Dodge/Ram 65,974 53,855 23% 115,898 91,189 27%     Fiat 3,227 – –% 5,138 – –%     Jeep 37,312 28,619 30% 69,022 51,689 34%     Ram 23,282 20,294 15% 41,752 33,314 25% Chrysler Group 133,521 95,102 40% 234,670 165,220 42% Daimler AG – – –% – – –%     Maybach – – –% – – –%     Mercedes-Benz – – –% – – –%     Smart USA – – –% – – –% Daimler AG – – –% – – –% Ford Motor Co. 178,644 156,232 14% 314,938 283,213 11%     Ford division 171,732 150,284 14% 302,905 271,459 12%     Lincoln 6,912 5,948 16% 12,033 11,506 5%     Mercury – – –% – 248 –100% Ford Motor Co. 178,644 156,232 14% 314,938 283,213 11% General Motors 209,306 207,028 1% 377,268 385,925 –2%     Buick 14,023 15,807 –11% 24,231 29,076 –17%     Cadillac 11,505 15,768 –27% 20,429 28,349 –28%     Chevrolet 151,197 142,919 6% 275,061 268,308 3%     GMC 32,581 32,534 0% 57,547 60,192 –4% General Motors 209,306 207,028 1% 377,268 385,925 –2% Honda (American) – – –% – – –%     Acura – – –% – – –%     Honda Division – – –% – – –% Honda (American) – – –% – – –% Hyundai Group – – –% – – –%     Hyundai division – – –% – – –%     Kia – – –% – – –% Hyundai Group – – –% – – –% Jaguar Land Rover – – –% – – –%     Jaguar – – –% – – –%     Land Rover – – –% – – –% Jaguar Land Rover – – –% – – –% Maserati – – –% – – –% Maserati – – –% – – –% Mazda – – –% – – –% Mazda – – –% – – –% Mitsubishi – – –% – – –% Mitsubishi – – –% – – –% Nissan – – –% – – –%     Infiniti – – –% – – –%     Nissan Division – – –% – – –% Nissan – – –% – – –% Porsche – – –% – – –% Porsche – – –% – – –% Saab Cars North America – – –% – – –% Saab Cars North America – – –% – – –% Subaru 25,374 21,683 17% 48,181 40,541 19% Subaru 25,374 21,683 17% 48,181 40,541 19% Suzuki – – –% – – –% Suzuki – – –% – – –% Toyota – – –% – – –%     Lexus – – –% – – –%     Scion – – –% – – –%     Toyota division – – –% – – –%     Toyota/Scion – – –% – – –% Toyota – – –% – – –% Volkswagen 30,577 21,462 43% 57,786 39,862 45%     Audi – – –% – – –%     Bentley – – –% – – –%     VW division 30,577 21,462 43% 57,786 39,862 45% Volkswagen 30,577 21,462 43% 57,786 39,862 45% Volvo Cars NA – – –% – – –% Volvo Cars NA – – –% – – –% Other (estimate) 262 255 3% 524 510 3% TOTAL 577,684 501,762 15% 1,033,367 915,271 13% February shapes up to be the strongest month in almost four years, says Automotive News [sub], which also supplied this developing table. from The Truth About Cars http://www.thetruthaboutcars.com

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February Sales: Very Strong Month Saves GM’s Honor

First new car sale numbers are coming in for February, and they are better than the most optimistic projections.  Chrysler Group is up 42 percent, with the sales of Chrysler branded cars up a whopping 100 percent. GM did beat expectations by registering a small 1.1 percent gain on 209,306 units sold in February. Analysts had expected a drop of GM sales by several percent. Ford came in slightly better than expectations by posting a 14 percent increase in February U.S. sales on 179,119 vehicles sold. The analysts had expected 12.7 percent (averaged.) GM's hide and honor were saved by a very strong overall market. GM thinks that 1.1 million light vehicles changed hands in February, the consensus prediction of Kelley, TrueCar and Edmunds was 1.08.  GM and Chrysler expect a February SAAR of around 14.9 million. Edmunds.com Senior Analyst Michelle Krebs commented on the early numbers: "What a difference four years makes and a change in product lines make for General Motors and Ford.  In 2008, when gas prices spiked, GM did not have competitive small fuel-efficient cars, but with today's rising gas prices, GM sales of the fuel-efficient Chevrolet Sonic and Chevrolet Cruze are soaring, carrying the brand and the company. At Ford, the revised Focus has taken off with a triple-digit increase over a year ago for its best year in more than a decade." We will report on February sales throughout the day.   from The Truth About Cars http://www.thetruthaboutcars.com

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2012 New York Auto Show: What we Know

Spring in New York typically means rain … and new cars. The 2012 New York auto show is a little over a month away. Press reveals start April 4, and the show opens to the public on April 6. We're starting to get a picture of what to expect at the show, though some surprises are likely. It looks like it's shaping up to be the show for significant sedan reveals. We expect to be introduced to a new flagship from Acura, an updated Nissan Altima (teaser pictured) and a redesigned Honda Accord. Continue reading below for a list of other vehicles that will be shown at the event. Check back with us as we add more. Acura flagship sedan 2013 BMW 6 Series Gran Coupe 2013 Buick Enclave Honda Accord 2013 Nissan Pathfinder  2013 Nissan Altima 2013 Porsche Boxster Porsche Cayenne 2013 Ram 1500 2013 SRT Viper from KickingTires http://blogs.cars.com/kickingtires/

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Chalk One Up To The Beijing Police

This Beijing policeman has a hard look at this BMW X1. Not because it's extremely dusty. A few days parked outside in Beijing, and any car looks like that. No, this car has no license plates. The plateless car has been gathering dust for a while on Beijing's streets. So the policeman has the X1 towed. In America, that would be that. But this is China. To maintain a harmonious society, the owner needs to be notified of the towing. Now, the policeman has a problem: There is no license plate on the car, so how should he know the owner? A fast thinking member of Beijing's Finest whips out a piece of chalk, kneels and writes (translation courtesy Carnewschina: ) "To the owner of the BMW X1 car. Please contact the local police station for information concerning your property." It looks like it hasn't been raining for a while. The chalk may still be there when the owner comes back.   from The Truth About Cars http://www.thetruthaboutcars.com

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Audi Overtakes Mercedes, Rolls In Money

The European malaise seems to have selective impact on European automakers. Audi announced record results today. Audi reported an operating profit of €5.35 billion ($7.16 billion) in 2011, and wants to have even better results this year. Don't mention Audi when you talk to Mercedes managers. Audi sold 1.3 million cars last year, and now is the world's second largest maker of premium cars, behind BMW. Mercedes-Benz was relegated to the #3 position. Audi's operating margin was a monstrous 12.1 percent last year. Mercedes-Benz used to be proud of their 9 percent. "These numbers turn Audi into one of the world's most profitable car companies," Audi CFO Axel Strotbeck told Automobilwoche [sub]. With 313.036 units sold (+37 percent,) China is Audi's largest market, before Audi's home market Germany (254.011 units, up 10.8 percent.) Audi chief Rupert Stadler is unimpressed by news that China might stop government purchases of foreign cars. Only 10 percent of Audi's sales in China are government sales.   from The Truth About Cars http://www.thetruthaboutcars.com

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Junkyard Find: 1977 Datsun 280Z

After a couple of 1970s Italian sports cars for our last two Junkyard Finds, it's time to look at the Japanese competition. Malaise Era Z Cars are not uncommon in California junkyards, and I spotted this fairly rough example in an Oakland yard last month. Judging by the extremely weathered paint, I'm guessing this car spent at least a decade in outdoor storage, getting fried by the Northern California summer sun and picking up body rust during the rainy Northern California winters. The old-school Raiders sticker, from the era before the team went to Los Angeles, indicates that this car is an East Bay native. The L28 engine in the '77 280Z made 149 horsepower in a 2,628-pound car, pretty decent numbers for the time. The '77 Corvette weighed 3,448 pounds and had 210 horses (if you got the optional L82 engine), which gave the Chevy a slight power-to-weight advantage… and a price tag of $9,143 versus the Z's $6,999. The Camaro is probably a fairer comparison to the 280Z, however, given the similar demographics of the two cars' purchasers. A '77 Z28 with the optional 170-horse 350 sold for $5,380 and weighed 3,529 pounds. Which would you have bought? This debate could go on and on. Early catalytic converters tended to run very, very hot, and cars not initially designed for them sometimes had less-than-optimal cat locations. If the floor above the cat got too hot, this warning light would come on, probably after the carpeting started to smolder. Fiat's approach to the same problem was a "SLOW DOWN" light. There's no telling the significance of this 70s-vintage vanity plate. Though this car doesn't seem to suffer from rust-through problems, you can still get much nicer 280Z project cars in California for reasonable prices. Some of this car's parts will live on in one of those cars. from The Truth About Cars http://www.thetruthaboutcars.com

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