First production Cadillac model to be auctioned with proceeds to SAE Foundation
WARREN, Mich. – Mary Barra, General Motors senior vice president, Global Product Development, was honored Wednesday evening with the Society of Automotive Engineering Foundation’s 2013 Industry Leadership Award. Barra is the first woman recipient in the 25-year history of the award.
Barra said GM would donate the first production 2014 Cadillac CTS Vsport, including a performance driving school package, to the SAE Foundation.
The CTS Vsport will be the first Cadillac model to offer an eight-speed automatic transmission. The car is built on the high-performance award-winning ATS architecture and is equipped with a Twin-Turbo V-6.
Tesla Motors, an electric car company making a final $451.8 million payment on the $465 million loan from the U.S government. It is a great achievement as the car maker settle nine years earlier than scheduled.
The massive payment came courtesy of a stock offering last week that raised $1 billion for the California automaker. It is also make Tesla the only automaker to have paid back its Department of Energy loan in full.
Tesla’s pay off marks a rare bit of good news for the Department of Energy program which has seen its loans to Fisker and an Indiana start-up end in shuttered companies. The loan gave Tesla credibility among private investors which is rival couldn’t get.
Source :- Auto Yahoo
KUALA LUMPUR, May 22 (Bernama) – The local automotive industry is bracing for a healthy competition once the government reduces car prices gradually as promised in the 13th General Election manifesto by the Barisan Nasional (BN).
BMW Group Malaysia Chief Executive Officer Gerhard Pils said the reduction would cause local carmakers — Proton and Perodua — to compete with imported cars locally and internationally.
“Local manufacturers should not be afraid if the government reduces car prices. They must start thinking of how to make local cars better and more competitive with international car manufacturers like Honda, Mazda and Mercedes-Benz,” he told Bernama Wednesday.
Pils said both local and international manufacturers could adopt the high technologies used by them not only to invent new high technology but also to develop existing technologies for a brighter future in the industry.
Mitsubishi has now announced the production of its new small sedan, Mitsubishi Attrage. The Attrage is the sedan sibling of the new Mirage supermini for buyers on a budget that is offered in several markets and regions around the world.
The styling differences with the G4 concept are limited to the conventional head-, tail- and fog-lamp fixtures, front grille, smaller alloy wheels and the absence of an aero kit. The end result is as awkward to look at as the Nissan Versa sedan, which is 295mm (11.6-inches) longer than the Mitsubishi model (4,095mm or 159.5-inches) Read the rest of this entry »