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German bank ups stake in Chrysler to 14%

DaimlerChrysler AG said German bank WestLB “temporarily” boosted its stake in the company to 14%, according to the Detroit Free Press.
The paper's Web site says the world’s fifth-largest automaker and parent company of the embattled Auburn Hills-based Chrysler Group, announced this morning that WestLB increased its stake on April 4, the same day as the DaimlerChrysler annual shareholder meeting in Berlin. DaimlerChrysler also said WestLB’s holdings will be cut to less than 3% “in the foreseeable future.”
WestLB, the third-largest state bank in Germany, is now the largest share owner of DaimlerChrysler stock,

Posted by   at 12:54 PM to Companies | Permalink | Comments 0

Iacocca tears into the Bush and U.S. auto industry

Former Chrysler Chairman Lee Iacocca tears into the Bush administration and the U.S. auto industry in a new book, saying America's political leaders have failed the nation and urging voters to pick more carefully in 2008, according the Detroit Free Press.
The 82-year-old Iacocca -- who was urged to run for president in the 1980s after turning around Chrysler -- also says in "Where Have All the Leaders Gone?" that he's for higher federal fuel-economy standards, warns that Chrysler could become a "shattered remnant" if sold and offers suggestions for Detroit's automakers to turn their businesses around, the paper says.

Posted by   at 12:43 PM to Auto industry | Permalink | Comments 0

Yeah! Combining diesel and hybrid technologies

At last someone is combining two of the most promising alternative fuel technologies, according to leftlanenews.com. BMW is considering offering hybrid versions of its 5-Series sedan and X5 crossover in 2010, according to a new report by Britain's Autocar citing a BMW engineering source, leftlanenews.com says. Unlike most hybrids, the vehicles would run on a combination of diesel and electricity, rather than the typical gasoline-electric configuration.

Posted by   at 12:29 PM to Alternative fuels | Permalink | Comments 0

10 concept cars that should have been built

Looking back, dozens of concept cars could rightfully be considered significant, but thecarconnection.com has selected 10 that it says should have been built starting with the1938 Buick Y-Job which was built under the direction of Genera Motors' first design czar, Harley Earl. It says the car foreshadowed styling and engineering cues that would pop up on future GM vehicles. The Y-Job's stubby tail fins found their way onto the iconic 1948 Cadillacs, while the grille design still influences Buicks today.

Posted by   at 12:19 PM to Design | Permalink | Comments 0

Top ten sexiest luxury cars

Check out Forbes.com's tally of the 10 sexiest luxury cars.
Forbes.com ranks them by ideal driver/owners, including Hip-Hop Moguls
(Rolls-Royce Phantom sedan), Miami Beach plastic surgeons (Lamborghini Murciélago convertible) or Newly Divorced Moms (Mercedes-Benz SL65 AMG).

Posted by   at 12:12 PM to Design | Permalink | Comments 0

Is that car gay?

While cars are no more straight or gay than cellphones, office chairs or weed whackers, that truism has not stopped a perception among some motorists that certain cars can, in the right context, might be statements about a driver’s sexual orientation, according to the New York Times.
At a time when car makers are marketing aggressively to gay consumers and mainstream culture has become more literate about stereotypically gay tastes, it may not be surprising that some people make such assumptions about motorists based on their cars, the paper reports.

Posted by   at 11:43 AM to Design | Permalink | Comments 0

Hybrid technology spreading beyond cars

Hybrid cars and trucks, which use gas-electric technology, have become the poster children for energy savings in the automobile world, but industry has been paying attention, and hybrids are quietly starting to show up in other transportation uses, from locomotives to construction equipment, according to USA Today.
After looking over several hybrid and other "green" commercial vehicles recently, President Bush said they will play a role in meeting his administration's goal of reducing gasoline usage by 20% over 10 years.

Posted by   at 11:22 AM to Alternative fuels | Permalink | Comments 0

Sales of small cars soar

Fast-growing sales of the smallest cars are siphoning market share from compact sedans, according to USA Today. Citing auto industry experts, the paper says sub-subcompacts "are the new hot darlings of the market."
Sales of the minis doubled in the first quarter compared with a year ago, when some of the smallest models hadn't yet gone on sale.

Posted by   at 11:19 AM to Sales | Permalink | Comments 0