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Left Lane Drivers Attack!

Summertime is when America hits the road, and — if you believe some people — it’s also when too many slow drivers clog the fast lane. Well, help is on the way for that beloved character, the Assertive American, according to the cars.com.

Left Lane Drivers of America has taken the lead in this national aggravation, and it wants to keep slower drivers where they belong — on the right-hand side of the road.

“As traffic gets increasingly congested, it’s time for citizens to reclaim the left lane,” J.A. Tosti, a spokesman for the group, said in a press release.

Tosti and his group are offering backward-reading “Move Over” windshield decal (complete with an arrow that points to the right) that “gently prods” those slower drivers into, well, getting the hell out of the way when they see it in their rearview mirror.

Posted by   at 10:20 AM to On the road , Popular culture | Permalink | Comments 1

BioFuel expects to raise $93 million from IPO

BioFuel Energy Corp., a development-stage ethanol producer, said it plans to sell 5.25 million shares at $10.50 a share in an initial public offering, below its expected IPO pricing range of $13 to $14 a share, according to Reuters.

In a regulatory filing, BioFuel said it will also sell 4.25 million shares in a private placement directly to affiliates of Greenlight Capital Inc., Third Point LLC and its chairman, Thomas Edelman.

The Denver, Colorado-based company expects to receive about $93 million in net proceeds, after deducting underwriting discounts and offering expenses.

BioFuel plans to use the net proceeds to fund the equity portion of the construction costs of its Alta plant and repay or defer debt.

Posted by   at 10:12 AM to Alternative fuels , Companies , Environment , Sales | Permalink | Comments 0

Gibbs Aquada Aquacar Floating to Reality?

Gibbs Technologies, founded by Britain 's Neil Jenkins and Alan Gibbs, is expected to announce a new deal to produce a military version of its prototype Aquada, a car-like vehicle that can operate on land or water, according to thecarconnection.com.

Specifics are expected to outlined today, but a prototype is expected to allow for a range of military operations, including the ability to deliver special forces troops and material at remote locations, or to provide flexible patrols along waterfronts.

According to Jenkins, the company's High Speed Amphibian technology would allow for fast travel off-shore, but unlike a traditional boat, the vehicles could quickly move onto dry land to pursue an enemy.

Posted by   at 10:05 AM to Companies , Design , Sales | Permalink | Comments 0

Nanjing to bring back Healey, Austin-Healey

Nanjing Automobile (Group) Corp. says it's reached a deal with Healey Automobile Consultants Ltd., to bring back the Healey and Austin Healey nameplates, according to thecarconnection.com

The Chinese company, the new owner of the MG Rover brands and their Longbridge, U.K., factory, and the Healey group, said "they were delighted to announce their intention to collaborate with each other on the future development of the Healey and Austin Healey brands and sports cars bearing their name," according to a news release.

Posted by   at 10:01 AM to Auto industry , Companies , Marques | Permalink | Comments 0

Chrysler Group dealers believe in Cerberus

Top Chrysler Group dealers emerged from their first face-to-face meeting with Cerberus Capital Management impressed with the investor's plan to make Chrysler "a great American car company" again, according to the Detoit Free Press.

Cerberus Chief Executive Officer Steve Feinberg sat at a table Thursday with 16 of the 20 members of the dealer council that represents about 3,700 Chrysler Group dealerships around the country.

The meeting was held at Cerberus' offices in New York City.

Feinberg, whose private equity firm is set to acquire the automaker, spoke about Cerberus' commitment to the U.S. auto industry, dealers at the table said.

Posted by   at 9:59 AM to Companies | Permalink | Comments 0

Gas alternatives are near, and on several routes

It's the end of the driving world as you know it, some of the automotive industry's top engineers and executives said Tuesday during a University of Michigan forum on alternative-fuel vehicles, according to the Detroit Free Press.

More than 700 people filled the Power Center in Ann Arbor to hear hybrid and advanced technology directors from General Motors Corp., Toyota Motor Corp. and Ford Motor Co. discuss what their companies are doing to address increasing consumer demand for more fuel-efficient vehicles and reduce carbon dioxide emissions.

Posted by   at 9:55 AM to Alternative fuels , Design , Environment , Fuel economy , Technology | Permalink | Comments 0

Detroit blasted over fuel rules

Detroit's auto industry was cast as an environmental villain Tuesday in an unusual blast of criticism by backers of tougher fuel-economy standards who contend the Senate must force the industry to build more efficient vehicles, according to the Detroit Free Press.

U.S. Sen. Dianne Feinstein, D-Calif., blistered Detroit automakers, saying the industry had "buffaloed" Congress with false claims of financial and technological hurdles to meeting a proposed standard of 35 miles per gallon by 2020.

Posted by   at 9:49 AM to Auto industry , Fuel economy | Permalink | Comments 0

Senate mulls tougher fuel standards

As motorists face near record gasoline prices, the Senate took up an energy bill Tuesday that would raise auto fuel economy standards for the first time in nearly 20 years and make oil industry price gouging a federal crime, according to USA Today.

Democratic leaders in both the Senate and House said they want broad energy legislation passed before the Fourth of July congressional recess, hoping to dampen growing voter anger over paying well above $3 a gallon at gasoline pumps across the country.

The Senate bill urges automakers to boost their fuel economy to a fleet average of 35 miles per gallon by 2020, about a 40% increase over what new cars and the less fuel efficient SUVs and pickups are required to attain today. The auto standard of 27.5 mpg was last increased 18 years ago. SUVS and small trucks must achieve a fleet average of 22.2 mpg.

Posted by   at 9:46 AM to Fuel economy | Permalink | Comments 0

Renault Reports Worldwide Sales Decline

French automaker Renault said vehicle sales slipped 4.2 percent in May from a year earlier to 214,358 amid competition from Asian brands and an older product lineup, according to the Associated Press.

Renault is hoping the launch of new and updated models in the second half of this year will arrest the slide and bolster prospects in 2008.

It is about to launch its latest version of the Twingo subcompact.

Posted by   at 9:41 AM to Auto industry , Companies , Marques | Permalink | Comments 0