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GM projected to have most profitable Q1 in 11 years

Filed under: GM, Earnings/Financials

GM logo

Most automakers have already reported earnings for the first quarter of 2011, but General Motors is still busy counting its loot. We don’t know how well the largest automaker in the United States fared, but Bloomberg reports that GM could post a profit of $1.74 billion for the quarter. That would be a 63 percent improvement versus Q1 2010 and the best first quarter for GM in 11 years. A first quarter profit would also be the fifth consecutive quarterly profit for The General – a significant task given the fact that the automaker exited bankruptcy protection less than two years ago.

GM’s profit is expected because of the automaker’s successful quarter in the U.S. and China. The automaker sold 26 percent more vehicles in the U.S. during Q1 2011 than it did in the first quarter of 2010, while car buyers in China appear to be picking up as many GM products as they can.

In the short term, analysts are questioning whether a solid profit statement will affect the company’s stock. GM is still trading at levels close to the same $33/share when the company’s IPO was released. The stock briefly climbed to nearly $39/share before dropping back down into the low $30 range. Analysts claim that GM stocks could take a turn for the better due to supply chain issues for Japanese automakers. The General is reportedly in a good position to reap additional sales as the result of its competitors’ issues.

GM projected to have most profitable Q1 in 11 years originally appeared on Autoblog on Wed, 04 May 2011 13:00:00 EST. Please see our terms for use of feeds.

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Ferrari offers scheduled maintenance program for 7 years in Europe, other markets to follow

Filed under: Car Buying, Convertible, Coupe, Performance, Europe, Ferrari, Luxury

Ferrari has started offering a free, seven-year maintenance plan for customers in Europe. The plan covers all 2011 Ferrari 458 Italia, California Spyder or FF models bought at an authorized Prancing Horse dealership. For now, the program is only available across the pond, but will make it to these shores later in the year.

According to Ferrari, the plan is attached to each individual car, which means it’s transferable to different owners if the vehicle is sold within its first seven years. Coverage includes the cost of labor and original replacement parts, as well as oil and brake fluid.

When the program goes global, Ferrari says it will be the first maintenance plan of its kind to be offered around the world. With any luck, the new perk will help Ferrari gain back some consumer confidence after the the bad publicity surrounding the 458 Italia’s annoying propensity to burst into flames. Read the full Ferrari press release after the jump. Top tip, Don!

[Source: Ferrari]

Continue reading Ferrari offers scheduled maintenance program for 7 years in Europe, other markets to follow

Ferrari offers scheduled maintenance program for 7 years in Europe, other markets to follow originally appeared on Autoblog on Tue, 26 Apr 2011 18:27:00 EST. Please see our terms for use of feeds.

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Porsche’s Walter Röhrl, Christian Geistdörfer team up 30 years later for Targa Tasmania

Filed under: Motorsports, Classics, Coupe, Porsche, Australia, Racing

Rohrl-Gesitdorfer Porsche 911 SC

Walter Röhrl and Christian Geistdörfer with their 1981 Porsche 911 SC – Click above for high-res image gallery

Thirty years ago, Walter Röhrl and his co-driver Christian Geistdörfer very nearly won the San Remo Rally, after a comeback that would have been one for the ages. Röhrl and Geistdörfer were up against a field of faster, more powerful four-wheel-drive cars in their rear-wheel-drive Porsche 911 SC, and somehow managed to pull within an eyelash of victory.

Unfortunately, a broken driveshaft forced the pair to retire, leaving Michele Mouton’s Audi Quattro to run away with the race. Now, exactly thirty years after their heartbreak in San Remo, Röhrl and Geistdorfer are back in their 911 SC for the five-day, 2000-km Targa Tasmania. The rally starts today, and you can follow Röhrl and Geistdörfer’s progress here at Porsche UK.

The car that Röhrl drove in the 1981 San Remo rally was thrown together last minute because he was without a drive until just before the start of the race. The ill-fated San Remo run was the car’s only outing in professional competition. For this year’s Targa Tasmania, the car was found in a garage and restored to its 1981 competition specification.

Gallery: Rohrl-Gesitdorfer Porsche 911 SC

Rohrl-Gesitdorfer Porsche 911 SC

[Source: Porsche]

Continue reading Porsche’s Walter Röhrl, Christian Geistdörfer team up 30 years later for Targa Tasmania

Porsche’s Walter Röhrl, Christian Geistdörfer team up 30 years later for Targa Tasmania originally appeared on Autoblog on Wed, 06 Apr 2011 18:31:00 EST. Please see our terms for use of feeds.

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‘Bye Dad: David Evan Davis, Jr., shuts his eyes one last time at 80 years, 140 days

Filed under: Classics, Etc.

David E. Davis, Jr., with wife Jeannie and son Matt

Talking about my dad just after the day of his death, I’m sort of forced to quote him. Right up to the last, he was “one tough summbitch” as he would say in praising anyone worth their salt. He saved that Burnside, Kentucky, inner country boy just for such moments as these.

His amazing wife Jeannie Luce Kuhn Davis (one of the great names in the annals of stepmothering) and I drove up to the hospital yesterday before I had to get to the airport to head to New York City, where I am writing this now. Jeannie was in her Chrysler minivan – her favorite for hauling dogs and people, in that order – me in a nice Saab 9-5 sedan. We’d brought the two big Italian Spinone hunting dogs, Tavi (for “Ottavio”) and Pucci (for “Puccini”), to the hospital the two previous days so they could give some love to their bedridden master. Jeannie was going to bring them again in the afternoon since my dad and everyone else on the floor got such a kick out of them with their silly bearded faces and warm affection.

In the morning my dad was fine and we had a good last bye-bye, saying we’d see each other really soon again anyway. After all, all post-op tests revealed that he was now completely cured of any cancer and he’d be heading home in maybe five or six days to heal up completely. We were all telling as much to the many well-wishers who phoned the room.

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Continue reading ‘Bye Dad: David Evan Davis, Jr., shuts his eyes one last time at 80 years, 140 days

‘Bye Dad: David Evan Davis, Jr., shuts his eyes one last time at 80 years, 140 days originally appeared on Autoblog on Mon, 28 Mar 2011 12:30:00 EST. Please see our terms for use of feeds.

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Mirrored Smart Fortwo Electric Drive: Seven years of bad luck if you crash? [w/video]

Filed under: Coupe, Videos, Smart, Electric

disco-ball smart fortwo electric drive

Apparatjik rocks the disco-ball Smart Fortwo – Click above to watch video after the jump

What happens if you take a Smart Fortwo Electric Drive, add a disco-ball finish and then throw in Electriconic Rock group Apparatjik? You get the mirrored two-seater shown above, as well as a rather odd video featuring enough flashing lights to push epileptics into DEFCON 1.

The electric party-mobile is a one-off creation thought up by the Apparatjik crew. It’s a music group comprised of Coldplay bassist Guy Berryman, A-Ha guitarist/keyboardist Magne Furuholmen, Mew lead singer Jonas Bjerre and producer Martin Terefe. The car will be used in a film called Pixel City. It also has a starring role in an Apparatjik music video, which can be seen after the jump. Just don’t crash… that’s a lot of mirrors ripe for a shattering.

Gallery: Disco-ball Smart Fortwo

[Source: Daimler]

Continue reading Mirrored Smart Fortwo Electric Drive: Seven years of bad luck if you crash? [w/video]

Mirrored Smart Fortwo Electric Drive: Seven years of bad luck if you crash? [w/video] originally appeared on Autoblog on Thu, 17 Mar 2011 18:59:00 EST. Please see our terms for use of feeds.

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Lamborghini Gallardo Tricolore commemorates 150 years of Italian unification

Filed under: Coupe, Performance, Lamborghini

Lamborghini Gallardo Tricolore

Lamborghini Gallardo Tricolore – Click above for high-res image

Typically, automakers unveil new cars at or before a major auto show, not after. Then again, Lamborghini indeed had its hands (and show stand) full at the Geneva Motor Show earlier this month with the all-new Aventador. This special edition Gallardo simply would have been overlooked.

Following the Bicolore edition announced a month ago comes the new Tricolore, which commemorates the 150th anniversary of Italian unification. But rather than upgrade on the former with the addition of a third color, the Tricolore arrives in white with the three colors of the Italian flag as an offset stripe, running over the top of the car and through the cabin. And hopefully, unlike its cross-town rival’s latest grand prix racer dedicated for the same occasion, its name won’t be subject to legal action.

The limited edition model is set to be unveiled next week in Turin, when we can expect more details – including the quantity to be built and the specific drivetrain configuration. The Gallardo’s 5.2-liter V10 engine is currently offered in 550-, 560- and 570-horsepower states of tune, driving either the rear wheels or all four, and with manual or e-gear transmissions. Stay tuned for more.

[Source: OmniAuto.it]

Lamborghini Gallardo Tricolore commemorates 150 years of Italian unification originally appeared on Autoblog on Thu, 10 Mar 2011 13:00:00 EST. Please see our terms for use of feeds.

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Report: Corvette sales enjoying modest uptick after years of ‘freefall’

Filed under: Car Buying, Convertible, Performance, Chevrolet

2010 Chevrolet Corvette Convertible Grand Sport

2010 Chevrolet Corvette Convertible Grand Sport – Click above for high-res image gallery

According to Automotive News, General Motors has seen Corvette sales increase slightly after months of decline. The General’s sports car saw sales jump by 13 percent in both January and February compared to the same months one year ago. All told, Chevrolet saw 955 Corvette models slip off of dealer lots in the first two months of 2011. That’s good news for General Motors. Well, maybe good is too strong of a word.

See, Corvette sales haven’t exactly been breaking any records as of late. Automotive News reports that, since 2006, the vehicle’s sales have been in a steady state of freefall. In fact, back then Corvette models were selling at a rate of roughly 3,000 units per month for a total of 36,518 vehicles. Last year, that figure was just 12,624.

So, why the slump? It’s no secret that C6 Corvette is growing long in the tooth. The latest generation of the baddest Bow Tie was introduced in 2006, and muscle cars like the Chevrolet Camaro, Dodge Challenger and Ford Mustang are now flexing similar power figures for significantly less cash. While it’s true that neither of those offerings can deliver the kind of handling that the still-wicked Corvette serves up, the majority of the population simply doesn’t care.

Gallery: Review: 2010 Chevrolet Corvette Grand Sport Convertible

[Source: Automotive News – sub. req.]

Report: Corvette sales enjoying modest uptick after years of ‘freefall’ originally appeared on Autoblog on Wed, 09 Mar 2011 18:31:00 EST. Please see our terms for use of feeds.

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Report: Ford now has more dealers than Chevy for first time in many years

Filed under: Car Buying, Chevrolet, Ford, GM

2010 was a good year for Ford. The Blue Oval outsold long-time rival Chevrolet by 160,000 units, but that’s not the only area where Ford managed a lead over the Bowtie. Ward’s Automotive reports that the Dearborn automaker ended the year with 47 more U.S. dealerships than its cross-town nemesis. The General lost 372 dealers during 2010, compared to just 61 for Ford.

Both companies shed a lot more dealers when counting all the brands that fall under their respective umbrellas, and both moves have helped helped remaining retail stores increase profits. In fact, Wards claims that sales are up between 38 and 129 percent per store. But given the atrocious 2009 automakers endured, 2010 looked like a dream year despite the fact that sales were still among the lowest in three decades. In all, there are about 17,660 car dealerships in the U.S. spanning all automakers.

[Source: Ward’s Automotive | Image: Paul Sakuma/AP]

Report: Ford now has more dealers than Chevy for first time in many years originally appeared on Autoblog on Tue, 22 Feb 2011 17:33:00 EST. Please see our terms for use of feeds.

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Video: Helmut Deimel packs 50 years of rallying into 90 beautiful minutes

Filed under: Motorsports, Classics, Videos

Rallying, evolution of the drifting angle screengrab

Evolution of the Drifting Angle (Half a Century Sideways) – Click above to watch video after the jump

Helmut Deimel has been involved in the sport of rallying since the Seventies. During that time he has participated and interacted with some of the all-time greatest drivers to ever click into a racing harness. Deimel’s involvment has also allowed him to cultivate a vast archive that spans 50 years of rallying history. He’s put it all together into one amazing 90-minute video called Evolution of the Drifting Angle (Half a Century Sideways).

Black-and-white footage gives way to color just as rear-wheel-drive yields to all-wheel-drive. Deimel’s film traces the history of a sport where drivers often find themselves driving through the side window. It’s a rather long video to watch over the internet, but it’s worth sitting through every second. You know you already wasted plenty of time on the Internet so click past the jump, let the video load and spend the next hour-and-a-half watching an excellent video showing the evolution of one of the most exciting forms of motorsports.

[Source: YouTube via ColdTrackDays]

Continue reading Video: Helmut Deimel packs 50 years of rallying into 90 beautiful minutes

Video: Helmut Deimel packs 50 years of rallying into 90 beautiful minutes originally appeared on Autoblog on Tue, 15 Feb 2011 19:25:00 EST. Please see our terms for use of feeds.

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Mercedes-Benz Celebrates 125 years with sculpture, battery patent

Filed under: Hybrid, Technology, Mercedes-Benz, Electric

Aesthetics 125 and 1886 Benz Patent-MotorWagen

Daimler celebrates 125 years since Carl Benz’s Patent-MotorWagen – Click above for high-res image gallery

Back on January 29th of 1886, Karl Benz filed the patent for his “vehicle with gas-engine drive.” It’s an important date in the history of the automobile, and Daimler is looking back at that special day that occurred 125 years ago and also using the anniversary of that day to look towards the future.

Daimler is embarking on a world tour to show off its Mercedes-Benz vehicles powered by fuel-cells. Over the course of 125 days, B-Class vehicles fitted with fuel cells will be touted all over the globe. As a nod to the past, the automaker received a new patent 125 years to the day that the original one was created. The bi-polar flat-cell frame is a brand-new technological development that will aid in the creation of lithium-ion batteries.

Mercedes-Benz took advantage of the 125th-anniversary celebrations to use art as a means of highlighting its own future. Thanks to rapid-prototyping technology, engineers were quickly able to produce a sculpture that started life as data in a computer. Called Aesthetics 125, the piece shows the level of technological sophistication available today while hinting at the design language of tomorrow.

Daimler is excited for the 125th anniversary of Mr. Benz’s wagon, and 2011 is chock full of milestones and further reasons to celebrate. Read all about them in the full press-release posted after the jump.

Gallery: Daimler celebrates the 125th anniversary of Carl Benz’s Patent-MotorWagen

Aesthetics 125 and the Benz Patent-MotorWagen

[Source: Daimler]

Continue reading Mercedes-Benz Celebrates 125 years with sculpture, battery patent

Mercedes-Benz Celebrates 125 years with sculpture, battery patent originally appeared on Autoblog on Mon, 31 Jan 2011 18:59:00 EST. Please see our terms for use of feeds.

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