Autoblog

What recession? Ferrari just confirmed that the Ferrari California is officially sold out through 2010. The 179,000 Euro supercoupe/cab is scheduled to be produced in batches of about 2,000 per year and has been a runaway success for the Maranello manufacturer. Company President Luca di Montezemolo was recently quoted as saying, "In 2008 there was the success of the Scuderia. 2009 will be characterized by the California. It has been an incredible success. We have already sold all of the 2008 and 2009 production. You have to now wait until 2011 for one."

Rather than act as a replacement for anything in the current lineup, the California was intended to be an eight-cylinder car that would compliment the F430 and be a vehicle with a lot of flexibility according to Ferrari. While some say it isn't the most beautiful Ferrari they've ever seen, the performance should be pretty spectacular for those lucky souls with a signed contract already in hand. The new direct-injection, 460-hp 4.3L V8 should be more than adequate for propelling this prancing pony down the road with gusto. We'll keep our fingers crossed that someone listening will loan us one for a short stay in the garage so we can confirm our suspicions.



[Source: la Repubblica via Eurocar Blog]

And with these words, the Alfisti shall rejoice: Alfa Romeo is finally back in the United States. While a full scale return by the Italian maker won't happen until 2009 or 2010, you can officially buy the Alfa 8C Competizione starting this month through one of the designated Maserati dealers tabbed to carry this rolling piece of automotive hotness. Check that, you can arrange delivery. Seems all of the 8Cs earmarked for the U.S. are already spoken for. So at least in theory, Alfa has returned. The 8C Spider open air version won't show up until 2010, but we really like the coupe enough not to be too distressed about the wait.

When the full operation ramps up, we are expecting that someone strolling into an Alfa Romeo dealership will be able to purchase not only the 8C Competizione and 8C Spider, but hopefully the hotter 8C GTA, the Brera and 159 or their replacements, the MiTo and 149, and whisperings also suggest a large rear-drive car possibly based on a Jaguar platform, along with a BMW X3 rival. Sounds a bit like Heaven. As always, we'll keep you posted.



[Source: Automotive News, sub. req.]

Leasing is down industry-wide by about 50% from 2007 levels, but General Motors' captive credit arm took an even bigger bite out of its vehicle leasing in September. GMAC leased only 2% of all GM products in September, and the decision to do so had everything to do with the recent events of the financial markets. While leasing was down GM-wide in September, GMAC and Chevrolet were hit the hardest. The General's two volume brands accrued only .6% and .7% of its sales through leasing, compared to 11.2% and 13.6% respectively last year. Leasing is virtually non-existent for vehicles with low residuals, and Cadillac, which typically leases over 40% of its vehicles, leased at an 8.4% clip last month.

Nobody on Wall St. is purchasing securities right now, giving GMAC very little money to offer leases to its customers. A controlling interest in GMAC was purchased by Cerberus well before the private equity firm took control of Chrysler. Chrysler stopped leasing all together on August 1 in response to the huge losses it took on returned leases of SUVs and trucks. Both GM and GMAC say the break from leasing is only temporary, but with the financial markets still in flux, don't expect this trend to reverse itself any time soon.

[Source: Automotive News, sub. req'd]

Ford announced today a new technology called MyKey that will be standard on the 2010 Focus Coupe and quickly spread to the rest of the Blue Oval's lineup. MyKey can do three basic things: allow parents to limit a vehicle's top speed to 80 mph and/or the stereo's volume up to 44% of its max, and set a sustaining chime if the seatbelts aren't being used. Clearly targeted towards worry wart parents, the MyKey system is meant to keep teens safe despite their protestation that a system like this curtails their kiddy freedoms. Ford did some polling and found that 67% of teens didn't like the idea, though that number fell to 36% if the MyKey system led to parents letting the kids use the car more.

The MyKey system uses off-the-shelf technology from within Ford, particularly the SecuriLock passive anti-theft system, to identify which keys are in the ignition and therefore which driving mode to enable. It's certainly feels a lot like Big Brother, but we suppose parents have the right to play Big Bro' when the safety of their children is at stake.

Other things the MyKey system can do is permanently enable the traction control system and set chimes for when the car reaches 45, 55 or 65 mph. This technology will likely make the Ford Focus Coupe a popular choice for both parents and teens, the latter of which may be appeased by the SNYC system that's also available in these cars.

[Source: Ford]

The highly anticipated 2010 Chevy Camaro is now only a few months from hitting the showroom floor, and we're just getting the final scoop on standard and optional content that will be available for all five Camaro variants. Customers wanting to order a Camaro can choose from LS, 1LT, 2LT, 1SS and 2SS models, and standard and optional equipment varies greatly between each package. The base model LS comes equipped with OnStar, 18-inch rims, and a 300-hp V6 engine, and the only optional item is floor mats. The 1LT package includes optional 19-inch rims, a Boston Acoustics sound system and a sunroof. The 2LT gets standard 19s, the sound system, leather seats, ambient lighting and Bluetooth and USB connections.

If you want your Camaro to include a 422-hp V8, you'll need to step up to the SS. The 1SS package includes standard 20-inch rims, four-piston Brembo brakes, a limited-slip differential and engine and transmission cooler. Options include polished aluminum wheels, a sunroof, and the upgraded sound system. The 2SS model adds all the standard features of the 1SS package and the 2LT package plus options including dual rally strips, a sunroof, and the Inferno Orange Accent interior. All trims except for the LS model have the option of adding the RS package, which gets you 20-inch rims, HID lamps, a spoiler (for the LT model), a Midnight Silver paint finish, darkened tail lights, and body colored molding.

Camaro sales may still be a few months away, but you'll be able to order yours at a local dealer beginning October 13. The complete list of standard and optional equipment is available for your perusal after the jump.


[Source: Camaro5]

Further proof that no automaker is immune to effects of the sales downturn in the U.S. comes as Toyota has just announced 0% financing on 11 of its models, including the hugely popular Camry and Corolla and a slew of SUVs and trucks. Last month, incentive-averse Toyota posted a drop in sales of over 30% compared to a year ago and the rest of the year isn't expected to look much better. General Motors, which still posted a decline in sales, fared better than most of its rivals, including Toyota, thanks to aggressive incentives including its employee pricing for everyone.

Toyota itself is calling the move to offer 0% financing "unprecedented," and indeed it is. Historically, the Japanese automaker has not needed to offer such sweeping deals to move its metal. It apparently has the cars, the means to finance them and just needs buyers. If you want in on the deal, it's available until November 3. See the full press release from Toyota for more details after the break.

[Source: Toyota]

On Wednesday, Chrysler told its dealerships that it will be increasing the sticker price of its 2009 models by an average of $500. Shipping costs are also being raised by about $50 per vehicle, which could very well have something to do with the price of fuel. While this may seem like odd timing for a price increase considering the well-covered sales slump from which all auto manufacturers (yes, we truly do mean all auto manufacturers) are suffering, some dealership owners are commending Chrysler for holding the line on pricing for as long as it has. Cross-town rivals General Motors and Ford have already increased their prices, and both of their increases were for higher amounts. Thus, it was only a matter of time before Chrysler followed suit. Still, with the sagging economy and current credit crunch, the news isn't likely to help sales any.

[Source: Automotive News - sub. req'd]

If you've got it, flaunt it. The super high-end automotive market has been counting on that attitude for years, and it may now be coming back to bite them. It seems that sales of luxury marques such as Bentley, Maybach and Aston Martin have been on a downward trajectory over the last year. Despite the fact that there are a number of people who still have plenty of dough to purchase these expensive toys, public perception is causing some of them to hold back and keep those fat wallets in their pockets.

To combat the problem, some high-end brands are choosing to aim even higher. If ex-customers with a net-worth of less than $5 million find it socially unacceptable to make a purchase, Bentley has said it will begin marketing to those with at least a net worth of $25 million. Let us add that we've driven a few Bentleys and Rollers and can say with certainty that they are definitely conspicuous in a sea of CamCords and Mustangs.


[Source: Advertising Age]

Last week Congress signed a bill that frees up $25 billion in low interest loans for all automakers (including non-domestics if they plan to spend the money on green tech) and suppliers that spend money in the U.S. to develop green technologies. That was a big deal for Detroit automakers struggling to stay afloat during an abominable automotive downturn.

According to the Wall St. Journal, the $700 billion economic "rescue plan" fighting its way through Congress at the moment also includes money to bail automakers out of bad car loans, which in turn would supposedly go a long way toward freeing up money in the woeful car loan market. We're assuming this car loan bailout issue isn't just for Detroit automakers, as several overseas automakers offer financing here in the States, and plenty of banks are knee deep in car loans, as well. After looking at the positively radioactive sales for September, it's clear that the economic crisis is also affecting car sales. Not only are people finding it harder to get car loans even if they have good credit, but many would-be shoppers are staying away from big ticket purchases altogether until this fiscal mess gets fixed.

[Source: Blogging Stocks]

Bill Heard Chevrolet, which had been the largest Chevy dealer in the world by volume, filed for Chapter 11 bankruptcy protection this week after closing down all of its 13 stores last week, and the tale of financial ruin is surprisingly bad. The dealer conglomerate owes $229 million to GMAC financing, BMW financing, and JP Morgan Chase, but with the Chapter 11 filing, much of the money owed will likely never see the light of day.

Bill Heard Chevrolet was the self-proclaimed "Mr. Big Volume" car shopping superstore that pushed Motown metal out its showroom doors even for customers with bad credit. The Georgia-based dealer seems to have had as many enemies as it had vehicle sales, and the state of Georgia just last month accused it of misleading business practices and forging signatures. The over 2,000 employees at the 14 dealerships are also considering a class action wrongful termination lawsuit that stems from the abrupt conclusion of their employment. Bill Heard Chevrolet was losing between $2 and $5 million dollars per month since mid-2007, and with woeful sales across the U.S., we're guessing it won't be the last dealership conglomerate to end abruptly. Thanks for the tip, Rahim!

[Source: Forbes]