Fiat-Chrysler gets billions in record European crisis loan

-
The audit court in Italy has formally approved a crisis loan to Fiat-Chrysler Automobiles (FCA), the largest ever to a European automaker according to a report by news agency Reuters. The record €6.3 billion loan received criticism from locals after FCA moved its headquarters to the Netherlands ahead of a merger with Peugeot-Citroen-Opel (PSA), but Italian authorities have offered assurances that the money will remain in the country.

Comments

Post a Comment

Popular posts from this blog

JLR: Consumer confidence on the rise post-election

-
Jaguar Land Rover Australia believes consumer confidence has returned to the luxury car market following the recent Federal election, where the sitting LNP government was returned to power. Speaking to local media at this week’s launch of the new Range Rover Evoque, JLR Australia managing director Mark Cameron said the conservative coalition victory has already been felt in the company’s showrooms.
Read more

Teacher accused of using rented Toyota Supra for land-speed record attempt

-
Image
A high-school teacher in the US could be more than $6000 out of pocket if he is found to have violated the terms of use of a rented Toyota Supra driven to a top speed record. A US high school teacher is facing legal action – and $US4000 ($AU6000) in costs – after being accused of renting a turbocharged Toyota Supra performance coupe from a car-sharing service and used the vehicle in a racing competition without the owner’s knowledge. The high-school teacher from Indiana – and his team of female mechanic students – were on their way to compete in the 2023 U.S. Mile land-speed trials in Texas last month. The girls and their teacher had built a high-performance Chevrolet S10 pick-up for the ‘Texas Mile’ – a competition which sees vehicles try to achieve the highest possible speed from a standing start within one-mile (1.6km) on a runway. However, the 1997 Chevrolet S-10 ute suffered a mechanical failure on the way to the event. Due to the hard work put in to make the 1800km j...
Read more

Donald Trump’s Lamborghini Diablo sets new auction price record

-
Image
The 1997 Diablo VT Roadster – custom-ordered by the now-former US president – has smashed records after selling for more than a million dollars at auction. UPDATE, 1 February 2024: A 1997 Lamborghini Diablo VT Roadster previously owned by former President Donald Trump has set a new record for the Italian supercar. Bidding pushed up the hammer price for President Trump’s Lamborghini to $US1.1 million ($AU1.67 million), far exceeding the average auction price paid for Diablo models at $US277,000 ($AU407,000). According to auctioneers Barrett-Jackson, bidding exceeded the $US1 million mark in just 90 seconds. According to Classic.com , the average value of the Lamborghini Diablo has risen almost 80 per cent in just three years. The original stories continues unchanged below. View this post on Instagram A post shared by Barrett-Jackson (@barrett_jackson) 13 January 2024: A 1997 Lamborghini Diablo VT Roadster reportedly on...
Read more

Honda confirms NSX successor in the works

-
Image
Honda boss has again confirmed the car maker is working on an electric sports car which may see the hallowed NSX badge return to showrooms. A successor to the Honda NSX supercar is coming, after Honda CEO Toshihiro Mibe once again confirmed the car maker is working on a new halo electric sports car. Mibe told UK publication Autocar that work was ‘progressing’ with a ‘good analysis’ on an electric sports car being carried out by the Japanese brand’s research and development department. “We have not decided on mass production or timing but, personally, I would like to make it happen.” Honda – which began in September 1948 – has hinted that it would have a halo sports car in showrooms to celebrate its 75th anniversary year. Honda teased two electric sports car concepts in 2022 , seen as successors to the S2000 and the NSX, as it announced a $AU53.7 billion (five trillion Japanese yen) investment in electric technology. Honda also said it would introduce 30 electric cars by...
Read more

New Norweld tray revealed for popular utes

-
Image
It’s a new design from one of Australia’s most respected aftermarket tray manufacturers. Norweld Elite Tray on a LandCruiser 79 Series Norweld – one of Australia’s top-selling manufacturers of aluminium trays for cab-chassis utes – has released a new design, known as the Elite. It is understood to cost more than the current range of Norweld Deluxe trays – set to remain available alongside the new design – which are priced from $13,490 fitted. Norweld Elite Tray Norweld Elite Tray The Elite tray is currently available for the Toyota HiLux, Ford Ranger, Volkswagen Amarok, Isuzu D-Max, Mazda BT-50 and Toyota LandCruiser 79 Series, with versions to suit further vehicles to follow. The Norweld tray can also be made to suit a variety of wheelbase and track-width modifications. Norweld Elite Tray tool box Compared to earlier designs, the Norweld Elite tray gains a new headboard design with mandrel bends and an adjusted height claimed to offer improved roof r...
Read more

Tesla cars to be banned from Chinese government buildings amid security fears — report

-
Image
Restrictions on where Tesla electric cars can be driven are reportedly increasing across China as concerns over the data the vehicles can collect grow. Tesla drivers in China are reportedly facing entry bans in government-affiliated buildings as security concerns with the US increase.  According to a report published by  Nikkei Asia , an increasing number of meeting halls and exhibition centres across the country are refusing entry to Tesla vehicles. The report states previous restrictions for the vehicles were generally limited just to military bases, but now a growing number of highway operators, local authority agencies, and cultural centres are reportedly enforcing them.  In an interview with  Nikkei Asia , a local claimed the Grand Halls conference centre in Shanghai has banned Tesla vehicles on its grounds completely, whether it be to park, or just passing through. “If you have a meeting there, the meeting organizer will actually give you noti...
Read more

Which country has the most electric cars in the world?

-
Image
Most of the world’s EVs are found in one country, where more than a quarter of all new cars sold are electric – and growing fast. An electric car from Chinese car maker Jiayuan EV is seen parked in Warsaw, Poland in 2022. Image: Getty As of 2024, China is the country with the most electric cars in the world – and by a long shot. In 2021, there were 417 million registered vehicles in China, 319 million of which were passenger cars. RELATED: The world’s top-selling cars Of that, 13.1 million were “new energy vehicles” – those with electric, hybrid or hydrogen fuel cell powertrains. Pure electric vehicles comprised 81.6 per cent of this category, meaning there were approximately 10.6 million electric cars on the roads in China in 2021. This figure is growing rapidly. In 2022, more than 4.4 million new electric vehicles were sold in China, and in 2023, annual new EV sales reached 9.49 million. As of January 2024, we estimate there are around 20 million electric vehicles on...
Read more

How many cupholders are too many? | Drive Flashback

-
Image
Drive pondered the vexing question of cupholders on 30 January, 2009 and along the way learned a few things about the humble little in-car convenience. Story by Tony Davis originally published in Drive on 30 January, 2009 What is it with cupholders? Indeed. To some they are the most moronic thing ever fitted to cars. To others – many of them Americans – cupholders are an essential and important part of the driving experience. Otherwise, like, where would you put your 1.3-litre Super Big Gulp soft drink? As with nuclear weapons, cupholders are here and are not going to be uninvented any time soon. Wikipedia claims the first was created by James Guillow in 1943. This may be the same James Guillow who was a titan of the balsa wood toy airplane industry but I can find no other reference. In more general terms – and perhaps more accurate terms – the cupholder emerged from the US tradition of the drive-in diner, which gave people the pleasure of being served in their ca...
Read more

Europe’s vehicle emissions haven’t changed in more than a decade, say officials

-
Image
Despite the increase in electric vehicles, officials say vehicle carbon emissions have failed to drop in Europe, thanks to more powerful – and heavier – new cars. A new report from the European Union has revealed CO2 emissions from vehicles are the same as they were 12 years ago – despite the adoption of hybrid and electric cars. According to the European Court of Auditors, real emissions from cars – which account for three-quarters of new motor vehicle registrations – have not dropped. While petrol cars have “marginally decreased” by 4.6 per cent over the period, diesel cars have remained constant, it says. Despite improvements in engine efficiency, the scathing report claims this technological progress has been undermined by the average weight of cars rising by approximately 10 per cent, as well as engines increasing in power by 25 per cent. “The same applies to hybrid cars, whose real-world CO2 emissions tend to be much higher than those recorded in the laboratory,” the...
Read more

2024 Toyota Yaris Cross updated in Europe with new tech, more hybrid power

-
Image
Europe’s Toyota Yaris Cross has received a mid-life update with more power, a revised look and new technology. Plans for the Australian version are yet to be announced. The updated 2024 Toyota Yaris Cross small SUV has been unveiled in Europe with an upgraded hybrid powertrain and new styling.  This is the first update for the Yaris Cross – the SUV sibling to the Toyota Yaris hatch – since it was first introduced to the Australian market in 2020.  Mirroring changes to the European-market Yaris hatch, the 2024 Yaris Cross in Europe brings with it mild styling changes to the exterior and interior of the SUV, improved safety features, and a more powerful hybrid system.  While pre-orders in Europe are due to commence this month, there’s no word on when we can expect to see the updates flow onto the Yaris Cross in Australia.  European-market Yaris Cross vehicles are manufactured in France, whereas Australian-delivered examples are built in Japan. Most ...
Read more