Rumors of Ford selling part or all of its 33.4% share in Mazda have picked up steam this week since we first reported on them over the weekend, and analysts in Tokyo think a deal that “clears a cloud over Mazda” is imminent. Nikkei English News also reported that Ford has asked Japanese supplier Denso to purchase part of its stake in Mazda, but the Japanese news agency didn’t claim any sources and Denso has declined comment in the matter. Most are guessing that potential buyers would include Mazda itself, as well as a number of companies over which the risk of investment could be spread, while Ford would likely hold on to at least some of its stake in the brand but lose its controlling share of the company.
Management from Ford and Mazda are largely silent regarding any possible deal, but Mazda spokesman Ken Haruki said that “nothing has been decided,” which doesn’t sound like much of a denial. There is no question that Ford needs cash to get through these turbulent economic times, and its share of Mazda is currently worth $1.33 billion based on Wednesday’s share price, which itself has dropped 56% in the past year. The ownership status of Mazda is likely worth more than $1.33 billion, though, and anyone taking that title from Ford will surely have to pay a premium.
Even if Ford sells some or all of its stake in Mazda, the two companies would continue to share platforms, powertrains and components for a long, long time. That will help Ford continue to enjoy economies of scale while giving Mazda good hardware without the massive development costs.
Affordable rear-wheel drive performance looks set to make a comeback, as both Nissan and Toyota are planning small, sporty coupes that should stack up rather nicely in performance and price. Another player comes from Korea in the form of the Hyundai Genesis Coupe, which is set to do battle with the Mustang until the other Japanese players show up (assuming they make it to the U.S. market). We expect both the Toyota and the Nissan to use four cylinder engines, with manual transmissions sending power to the rear wheels. Reports indicate that the Nissan may use a turbocharged 1.6-liter unit putting out somewhere north of 200-horsepower, but less than 250. That would leave the 370Z to do battle at a slightly higher performance plateau and should allow Nissan to keep the price comparatively low, though we believe that both Nissan coupes could be based on the same platform. We should know more soon enough, as previous reports peg the new FR coupe to debut sometime in 2010.
As you read this, journalists in Europe are getting their first taste of the Ferrari California, flogging the new coupe/convertible through the rolling hills of Italy, and periodically stopping to snack on shaved white truffles and sip Brunello di Montalcino. Jealous? We are. But rest assured our time will come. If it doesn’t, then at least we know what we’ll have to remove from our tanking 401k to get a California of our own… in Europe.
Evo is reporting that the Ferrari California will set back our friends abroad £143,000, placing it right in between the F430 coupe and spider. To put that into a U.S.-dollar perspective, the F430 coupe costs around $185,000 in the States, while the drop-top F430 is priced somewhere north of $210,000.
We’ll have to wait to see how the 460-hp California fares in the first round of reviews, but in the meantime, start saving your pennies and get in line.
BRABUS tunes all manner of Mercedes-Benzes, and even branches out by pumping performance into diminutive smart cars that have very little business going fast. Likewise, BRABUS also tunes Mercedes SUVs that usually have no business bragging about their performance, and there’s a new Merc ute on the scene that has yet to get the German tuning firm’s treatment… until now. BRABUS has just released details on its new Exclusive Program for the Mercedes-Benz GLK that allows owners to tune the new soft-roader to their heart’s content. Whether you’re driving a diesel-powered GLK or gas-powered variant, BRABUS has a host of engine mods to eke out more power and two new suspensions to firm up the ride. Likewise, there’s a new front apron, roof attachment, rocker panels and rear apron, as well as an array of new wheels to choose from. There’s also a catalogue’s worth of interior accessories, and in all more ways to customize your GLK than we care to enumerate here. The gallery below shows a model decked out with all the goodies, and you can check out the official press release from BRABUS after the jump for more details.
It was only a matter of time before Mitsubishi’s British engineers tired of relentlessly beating the FQ300 and FQ360 versions of their homegrown Evos. So it’s no surprise that after a 400-hp version of the Evo X successfully campaigned in the Britcar Championship, Mitsubishi finally gave the go-ahead to its crack team of in-house tweakers to produce a road going version for public consumption. The FQ400 is on its way.
If the Mitsu team holds true to the original ADR Motorsport-developed Evo, expect a new turbocharger, exhaust manifold and fuel system, along with a reworked ECU to make use of the extra boost and petrol. Naturally, output will be related to the FQ400’s name, with 400hp being delivered to all four wheels through a manual gearbox. A top speed of 170 mph and a 0-60 time of around 3.5 seconds shouldn’t be too hard to achieve, and with a reworked suspension, upgraded brakes and some aerodynamic enhancements, Lambo owners should think twice before cutting the FQ400 off at their first track day at Silverstone. Pricing hasn’t been released yet, but expect the Mitsubishi Evolution X FQ400 to crest the £45,000 mark when it goes on sale next year in the UK.
Mercedes-Benz took the easy route when it comes to making its current CLC, using the previous C-Class coupe as a starting point instead of engineering a new entry-level model from the latest C-Class platform. That may be about to change, as CAR is reporting that MB will introduce a proper C-Class coupe to replace the CLC. The new model will ditch the cut-off hind-end of the current car, which isn’t quite as pretty as its competition from Audi and BMW. A soft-top convertible is expected to follow a few months after the new 2010 C-Class coupe is introduced.
Moving up the Mercedes line, a new E-Class coupe is also in the works to offer a direct competitor to the Audi A5. We wonder if a “shooting brake” style hatchback could be offered as well. In any case, the two-door will lose its CLK nomenclature in favor of being known simply as a coupe. Also dead is the CL moniker, which will be replaced with an S-Class coupe. In addition to the expected gasoline and diesel-powered models, hybrids are expected to be offered across the entire Mercedes-Benz range in an effort to lower fuel consumption and carbon emissions.
When we got our hands on a Nissan GT-R, we can admit to laying waste to a little bit of rubber. With at least 480 horsepower at our command, it was hard not to. At no point, though, did we feel obligated to grind through 20 seconds of squealing, smokey donuts, but we can now be sure that at least one GT-R owner has. After the jump is one man’s attempt at YouTube fame behind the wheel of a Silver GT-R. He effortlessly (because the GT-R is badass) dives into a dizzying volley of tight spins that we like to call a donut, and when finishes appears to be awfully proud of his accomplishment. We’re not sure why, though, because all he did was get closer to a visit to his Dunkin Dunlop retailer for a new set of expensive rubber.
The Panamera is doing development time in Seoul, South Korea. In a city where it seems everyone has a cell phone camera, it’s no wonder that someone caught it on film. This time it appears to be wearing nothing more than a blue paint job and some pre-production panel gaps while filling up at a gas station. We know our opinion has swung on this car - first we didn’t like it, and then we kinda did - but for now we’re holding steady. It still looks better from the front than the rear, but this car is going to sell. Follow the jump to watch the video, and to our South Korean readers, there is a blue intruder among you, so please get him on video again and report to us… Thanks for the tip, Gabriel!
My wife and I thoroughly trained our oldest daughter on seat belt safety, and it got to the point where she would scream at the top of her lungs if one of us didn’t buckle our belts. When she first stepped foot on a school bus, she was terrified to learn that there were no seat belts and didn’t understand how school buses were the exception to the seat belt rule. After many years of extensive study, however, the National Highway Traffic Safety Administration is changing that, at least for buses weighing under 10,000 lbs. The NHTSA’s findings are the same as a 2002 study that smaller buses should receive belts and seat backs should be raised to 24 inches, but nothing was done about the findings back then. A series of bus crashes since has helped build the case to finally require the seat belts on certain buses and taller seat backs for them all.
Part of the reason for inaction was that adding seat belts would decrease seating capacity by 17% while also adding $40-$50 per seat to bus costs. With 25 million children riding 500,000 buses, that adds up to $100 million in annual costs that would, according to reports, save roughly one life per year. Statistics show that about 5 children die each year in school bus accidents, which represents .1 deaths per 100 million miles traveled. Kids that travel by bike to school die at a far greater rate of 12.2 per 100 million miles traveled, and kids who walk to school die at a rate of 8.7 per 100 million. The NHTSA’s ruling goes into effect November 2011, which is five months before my oldest daughter rides the bus for the last time and gets into her own car.
Tesla is now on its fourth CEO in just 12 months as the fledgling all-electric automaker has announced today that chief fund-raiser, architect and Chairman Elon Musk will take up the mantle from current CEO Ze’ev Drori. Early this morning Valleywag reported that Tesla would be firing up to 100 of its staff and that Drori might be leaving. A call to Tesla SVP Darryl Siry revealed that the story was not entirely accurate. Drori is not leaving the company, but will move over to become Vice Chairman. Exactly what that means is not entirely known at this point, although clearly Musk intends to take a more hands on role now that his Space-X rocket finally managed to get into orbit. Tesla is also laying off some staff, although the extent of lay offs is unknown at this time. Siry promised an official announcement sometime this morning, but we’re still waiting.
UPDATE: Tesla has finally published a blog post on the company site (sorta) detailing what’s going on. In short, the activity on Wall Street that’s decimated your 401k over the past week is part of the problem. Musk has decided to take the reigns as the company consolidates its efforts on shipping Roadsters and selling powertrain technology to other companies. Both of those will generate revenue. Almost everything else is essentially on hold for now. That means that Model S development is being scaled back temporarily and the Auburn Hills, MI engineering office is being shuttered. In the future all work will happen out of the new San Jose CA HQ. The slowdown will be in effect until Tesla is able to tap into low cost DOE loans that will help pay for development of the Model S and construction of the factory. Production of the sedan is now pushed back at least six months to mid-2011. Musk acknowledged a head count reduction, (aka lay offs) but didn’t reveal how extensive that would be.
Rumors of Ford selling part or all of its 33.4% share in Mazda have picked up steam this week since we first reported on them over the weekend, and analysts in Tokyo think a deal that “clears a cloud over Mazda” is imminent. Nikkei English News also reported that Ford has asked Japanese supplier Denso to purchase part of its stake in Mazda, but the Japanese news agency didn’t claim any sources and Denso has declined comment in the matter. Most are guessing that potential buyers would include Mazda itself, as well as a number of companies over which the risk of investment could be spread, while Ford would likely hold on to at least some of its stake in the brand but lose its controlling share of the company.
