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Report: Saab secures financing to restart production

Filed under: Saab, Earnings/Financials

blurry saab sign

Are the dark clouds parting over Trollhättan? According to Saabs United, it’s starting to look that way. Swedish automaker Saab has just received a green light that will allow it to borrow money from a European bank.

Saab’s plant is now owned by a company called Saab Automobile AB Properties, and that company is run by Vladimir Antonov. No money has yet been transferred, but this move clears the way to make that happen… pending a few conditions. The price paid for any property must be fair (whatever that means), Antonov will have to resolve any outstanding questions regarding his history and the money will go through a bank that has no connection to Antonov. It’s clear that the automaker is still nervous to do business with Mr. Antonov, but the time has come where cash is urgently needed.

There’s still no word yet on when production will resume. A sign that this is close to occurring, however, has come by way of suppliers agreeing to start sending in needed parts. Head over to Saabs United for more insight on this most recent development in the ongoing Saab saga.

[Source: Saabs United | Image: Fabrice Coffrini/AFP/Getty]

Report: Saab secures financing to restart production originally appeared on Autoblog on Fri, 15 Apr 2011 18:13:00 EST. Please see our terms for use of feeds.

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Dodge Viper ACR breaks Miller Motorsports Park production car lap record [w/video]

Filed under: Coupe, Performance, Dodge

Dodge Viper ACR at Miller Motorsports Park

Dodge Viper ACR at Miller Motorsports Park – Click above for high-res image gallery

The Dodge Viper ACR is no longer in production, but it remains one of the most impressive sports cars ever built as evidenced by a recent trip to Miller Motorsports Park in Tooele, Utah. Dodge Motorsports brought a 2010 Viper ACR to the track along with road racer Kuno Wittmer, and the result was a record-smashing lap time of 1:59.995 – nearly four seconds faster than the previous record of 2:03.86 held by a Corvette ZR1 driven by Jan Magnussen.

This isn’t the first time the Viper ACR has broken a track record for a production car. In 2008, Dutch driver Tom Coronel piloted a Viper ACR to a record 7:22.1 lap time around the Nürburgring, and one year later, an SRT vehicle dynamics engineer broke the Mazda Raceway Laguna Seca lap record with a time of 1:33.92.

You can read more about the Dodge Viper ACR’s lap record at Miller Motorsports Park as well as watch video footage of the car on track after the jump.

Gallery: Dodge Viper ACR at Miller Motorsports Park

[Source: Chrysler]

Continue reading Dodge Viper ACR breaks Miller Motorsports Park production car lap record [w/video]

Dodge Viper ACR breaks Miller Motorsports Park production car lap record [w/video] originally appeared on Autoblog on Fri, 15 Apr 2011 13:31:00 EST. Please see our terms for use of feeds.

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Mopar Avenger Rally Car: More power, less pork… and not for production [w/video]

Filed under: Motorsports, Sedan, Videos, Chrysler, Dodge

Mopar Avenger Rally Car

Mopar Avenger Rally Car – Click above for high-res image gallery

When we think of rally cars, the Subaru Impreza and Ford Focus immediately come to mind. At no point does the Dodge Avenger enter our thoughts, but that didn’t stop Team Pentastar from building its own dirt-ready rally sedan.

Chrysler wanted to celebrate a new business partnership with Fiat subsidiary Magneti Marelli by building a collaborative vehicle that combines the talents of the Italian components maker and Chrysler’s iconic Mopar team. The result is an Avenger that can handle more than America’s urban jungle.

Magneti Marelli and Mopar spent a few weeks modifying a stock Avenger Heat with a 3.6-liter Pentastar V6 underhood. The Avenger chassis remains intact, but a Magneti Marelli suspension was added for improved handling, lowering the Avenger by 1.5 inches. Brakes were upgraded to include 14.25-inch front rotors and 13.5-inch rear rotors, and a rear brake rally package with a hand-operated brake was included.

Continue Reading: Mopar Avenger Rally Car: More Power, Less Pork…

Gallery: Mopar Avenger Rally Car

Continue reading Mopar Avenger Rally Car: More power, less pork… and not for production [w/video]

Mopar Avenger Rally Car: More power, less pork… and not for production [w/video] originally appeared on Autoblog on Wed, 13 Apr 2011 14:59:00 EST. Please see our terms for use of feeds.

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Report: Toyota to resume production at half-speed across Japan on April 18

Filed under: Japan, Plants/Manufacturing, Toyota

Toyota Prius production line in Japan

With the exception of the facility that makes the Prius, Toyota plants in Japan have been closed following the earthquake disaster in Japan, but that is scheduled to change by April 18. The Associated Press is reporting that Toyota will resume production that day, though assembly lines will only work at half speed. The plants will run through April 27, when they will close again until May 9 to honor Japan’s Golden Week holiday. That’s a fairly short production window, but the move is likely welcome news to Toyota’s rank and file. The automaker has already lost 260,000 units since the March 11 earthquake and tsunami.

Toyota’s plan to restart production comes as the automaker continues to struggle to procure parts needed for production. Toyota’s parts situation has improved, however, as the AP reports that problem part counts have gone from 500 to under 150.

Toyota president Akio Toyoda acknowledges that parts supply issues are still hurting the automaker, but adds “we are doing our utmost to improve the conditions so that we can deliver cars to many customers.”

[Source: Associated Press via Daily Tribune | Image: Toshifumi Kitamura/AFP/Getty]

Report: Toyota to resume production at half-speed across Japan on April 18 originally appeared on Autoblog on Fri, 08 Apr 2011 18:30:00 EST. Please see our terms for use of feeds.

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Report: Tata to double Nano production amidst sales uptick

Filed under: Budget, Plants/Manufacturing, Earnings/Financials, Tata

2011 Tata Nano CX

2011 Tata Nano CX – Click above for high-res image gallery

The Tata Nano has enjoyed an increase in sales in the last couple of months, reportedly sparking Tata Motors to double production of its budget-minded microcar this fiscal year. In March, the Indian automaker moved 8,707 examples, pulling to within spitting distance of its 9,000-unit sales record for July, 2010.

After a summer selling record numbers, the Nano’s sales plummeted to just 589 in November, following numerous reports that alleged that the cars were mysteriously bursting into flames. After the mysterious fires, Tata offered free extended warranties on the cars, up to 90 percent financing on easy terms, and a comprehensive maintenance plan at just 99 rupees a month (about $2.25 U.S.).

The incentives seem to have struck a chord with buyers, and the Nano is right back where it was a year ago. Currently, Tata is building 9,000-10,000 cars a month at its Sanand, India plant, and had planned to increase that rate to 15,000 this fiscal year. In light of the sales spike, though, that number was bumped to 18,000 to 20,000 units a month.

Gallery: 2011 Tata Nano CX: Quick Spin

[Source: The Hindu Business Line]

Report: Tata to double Nano production amidst sales uptick originally appeared on Autoblog on Fri, 08 Apr 2011 14:31:00 EST. Please see our terms for use of feeds.

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Production 2012 BMW M5 will debut at Frankfurt Motor Show

Filed under: Concept Cars, Frankfurt Motor Show, Sedan, Performance, BMW, Shanghai Motor Show, Luxury

BMW M5 concept

BMW M5 Concept – Click above for high-res image gallery

Images and details of the BMW M5 Concept have been soaking up the Internet’s bandwidth for the past few days now, but the fierce four-door hasn’t even motored onto its plinth at the Shanghai Motor Show yet.

Given its production-ready appearance and the Bavarians’ propensity for such things, there appears to be precious little about the Shanghai show car that’s actually conceptual, but even so, we haven’t had a clear bead on where the salable F10-based BMW super saloon will show up – until now.

Autoblog has learned that the 580+horsepower production M5 will debut at the Frankfurt Motor Show this September, and by the time it makes the scene, BMW’s elves will no doubt have fitted a full interior and spec sheet.

Gallery: 2012 BMW M5 Concept

Production 2012 BMW M5 will debut at Frankfurt Motor Show originally appeared on Autoblog on Wed, 06 Apr 2011 18:58:00 EST. Please see our terms for use of feeds.

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Report: Audi Quattro edging closer to production [w/poll]

Filed under: Concept Cars, Coupe, Performance, Audi

Audi Quattro concept

Audi Quattro concept – Click above for high-res image gallery

When the veil was lifted on the Audi Quattro concept at the Paris Motor Show last year, suffice it to say people stood up and paid attention. And ever since, reports have been circulating of its production potential. Call it an inside line, or call it wishful thinking, but the latest reports indicate that the Quattro coupe – a five-cylinder, turbocharged, all-wheel-drive tribute to the original rally machine – is edging ever closer to production.

According to the news from across the pond, Audi’s namesake Quattro division – the department in charge of all the S and RS models as well as the R8 project in its entirety – has a working prototype based on the S5 coupe but considerably lighter thanks to the intensive use of aluminum and carbon-reinforced plastics. At around 1300 kilos (2,866 pounds), the vehicle is said to be about 300 kg (660 lbs) lighter than an RS5, and 225 kg (500 lbs) lighter than an R8.

The prototype is reportedly due to be driven by Audi’s board members before they sign off on its production. No word yet on what strategy the product would take – full production model or niche product – but here’s our question for you: if, for the sake of argument, it came in around the same price as an R8, which would you buy? Cast your vote in our poll below.

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Gallery: Audi Quattro Concept: Quick Spin

Audi Quattro Concept

[Source: Autocar]

Report: Audi Quattro edging closer to production [w/poll] originally appeared on Autoblog on Wed, 06 Apr 2011 12:30:00 EST. Please see our terms for use of feeds.

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Ford delivers 2012 Mustang Cobra Jet racers, lays claim to quickest production car [w/video]

Filed under: Motorsports, Coupe, Videos, Ford

2012 Ford Mustang Cobra Jet

2012 Ford Mustang Cobra Jet – Click above to watch the video after the jump

We’re all for an event that culminates with the serving of cake, especially when the sweet stuff is delivered in tandem with supercharged Mustang coupes built especially for drag racing. Ford recently threw a party at the Auto Alliance Mustang factory in Flat Rock, MI to celebrate the official delivery of its new 2012 Mustang Cobra Jet, a vehicle that the company proudly maintains is quickest accelerating production vehicle ever made. When pressed, Ford tells us the CJ will do a 60-foot launch in 1.3 seconds and the quarter-mile in under 10 seconds. We asked about a 0-60 mph time, but we were reminded that measurement is pretty meaningless in drag racing.

Cobra Jet buyers from all over came from as far away as Calgary, Alberta and Puerto Rico to participate in the ceremony and take delivery of their new racecars, and we’re betting they would have made the trek even without the sheet cake. All attendees signed a 2012 Mustang Cobra Jet hood that will later be placed on the walls of the production facility.

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Gallery: 2012 Ford Mustang Cobra Jet Delivery

Continue reading Ford delivers 2012 Mustang Cobra Jet racers, lays claim to quickest production car [w/video]

Ford delivers 2012 Mustang Cobra Jet racers, lays claim to quickest production car [w/video] originally appeared on Autoblog on Mon, 04 Apr 2011 15:00:00 EST. Please see our terms for use of feeds.

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Honda resuming production at Japanese plants

Filed under: Japan, Plants/Manufacturing, Honda

Honda logo

Honda has announced it will resume production at its Japanese plants effective April 11. Though the factories are ready to be up and running at full capacity again, Honda is keeping production levels at 50 percent due to a shaky parts supply.

The company says production at its U.S. facilities will have to slow in the coming weeks because of this parts issue. The reductions at American plants are scheduled to last until April 15, but may go on longer depending on when supplies come back on line. Honda says it’s working with suppliers who haven’t resumed production and is seeking new sources of critical parts in hopes of resuming full production soon.

Honda’s UK factory is yet to see slowdowns as a result of the earthquake in Japan, but it will likely face cutbacks if things don’t turn around soon.

[Source: Honda | Image: Drew Phillips/AOL]

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Honda resuming production at Japanese plants originally appeared on Autoblog on Thu, 31 Mar 2011 16:30:00 EST. Please see our terms for use of feeds.

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Study: Worldwide auto production could drop 30% due to quake in Japan

Filed under: Japan, Plants/Manufacturing

Auto production in Japan

You’ve likely seen plenty of news lately about how Japanese automakers have been affected by the March 11 earthquake in Japan, but what about the rest of the industry? The Detroit News reports that research firm IHS Automotive thinks that global auto production could drop by 30 percent, and nearly every major automaker will be affected.

The key to that dire prediction will be the speed with which Japanese suppliers can get back to making parts for the industry. IHS Vice President Michael Robinet reportedly told DetNews that if suppliers aren’t online within six weeks, global vehicle production could drop by 100,000 units per day. With average total production sitting at 280,000 to 300,000 units per day, 100,000 represents about 30 percent of all vehicles built. Robinet adds that if parts don’t start coming online quickly, automakers will begin feeling the pinch by mid-April.

IHS points to electronics and transmission components as the most likely to run dry. And that 30-percent figure could morph into 40 percent if automakers can’t get replacement parts within eight weeks.

Sobering statistics, indeed. We’re thinking automakers are hoping Japan can rebuild factories as quickly (and miraculously) as it can rebuild highways.

[Source: The Detroit News]

Study: Worldwide auto production could drop 30% due to quake in Japan originally appeared on Autoblog on Thu, 24 Mar 2011 18:31:00 EST. Please see our terms for use of feeds.

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