William Maley

Just when you thought Fisker was out of the hot water, they're back in it. Bloomberg reports that founder Henrik Fisker and the board of directors have been hit with a lawsuit over losses incurred by the company's financial problems. Atlas Capital Management LP, an investor in Fisker, filed a federal suit in Wilmington, Delaware, on December 27 claiming the automaker withheld information regarding its financial health. The suit also alleges that Fisker kept quiet about a recall involving 239 Karmas until the day after it closed a round of financing. Had Atlas known the truth, it “would not have purchased or otherwise acquired its Fisker securities, or, if it had purchased such securities, it would not have done so at the artificially inflated prices which it paid,” lawyers representing Atlas wrote in the filling. Anita-Marie Laurie, a spokeswoman for Fisker with Sitrick & Co., declined to comment when asked. Source: Bloomberg William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article

Fiat is planning to expand their 500 lineup once again by introducing a larger five-door model that will replace the aging Punto. Auto Express reports that Fiat engineers will use the Punto's platform as the base for the larger 500 and not use the current 500's platform. As for the design, the new model will retain many of the cues found the normal 500 such as the two-part headlights and short hood length. The new model could arrive in 2015 and slot in between the standard 500 and 500L. Source: Auto Express William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article

Kelly Blue Book has listed the ten vehicles that deprecate at alarming rate and top three happen to be electric vehicles. The Nissan Leaf according to KBB is projected to only retain 18 percent of its new-car price after five years. Behind the Leaf is the Fiat 500e which is expected to retain 21 percent and the Smart ForTwo EV which is expected to retain 21.5 percent. Few key items to keep in mind: Fiat 500e is only available to lease in California A number of automakers, like Nissan have been dropping the price of the EVs Electric vehicles come with a number of incentives from the U.S. and state governments, which in turn hurt the resale value Eric Ibara, director of residual consulting for Kelley Blue Book tells USA Today EVs have a problem of finding someone to buy a used one. "Pure electrics have been slow to catch on in the resale market." Customers "have been willing to buy a new one, not a used electric vehicle." As to why, Ibara doesn't have a good answer to this. The remaining seven vehicles on KBB's list are all luxury vehicles such as the BMW 7-Series, Lincoln MKS, and Jaguar XK. Nissan Leaf - 18% Fiat 500e - 21% Smart fortwo electric - 21.5% Jaguar XJ - 22.2% Volkswagen CC - 25% Mercedes-Benz CL-Class - 25.8% BMW 7 Series - 26% Volvo S80 - 27.3% Lincoln MKS - 27.5% Jaguar XK Series - 27.6% Source: USA Today William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article

Like every other automaker, Jeep is looking at ways to reduce emissions and increase fuel economy in light of more stringent regulations. One technology the off-road brand is looking at is hybrid technology. “We are absolutely looking at different things in that field and we are very active behind the scenes in the development of these systems and how it fits into our profile,” said Chrysler’s Asia-Pacific product planning manager, Steve Bartoli, to Drive.com.au. “With greenhouse gas and regulatory constraints around the world, it is definitely pushing our hand in that way but we haven’t made any decisions on that and we’re not ready to talk about that.” Bartoli said the brand has concern about hybrid systems, including the reliability of the electric motors and battery range when traveling off the beaten path. “We always want to make sure a Jeep can get you home. These are very complex and expensive systems, not just for us to develop but also for the consumers. Not only that, but [battery] range is a very important issue and we need to make sure how we can fit that into our systems because you don’t want to be stuck in a creek in an electric Jeep that is going nowhere. It is still a big problem in that regard so we need to understand it a bit more.” Source: Drive.com.au William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article

Audi has some very ambitious plans in the coming years. It's planning eleven new models and has set a new global sales goal of two million vehicles in the next few years. How will Audi pay this off? Well by investing more money. According to Bloomberg, Audi has increased its investment by 500 million euros to 22 billion euros ($30.3 billion US). Seventy percent of the investment will go towards development of new vehicles and technologies. “We are now decisively steering toward our next milestone. This is why we’re keeping our foot on the gas pedal regarding investments,” said CEO Rupert Stadler said in a statement. There are two possible reasons why Audi has increase their investment. One is that the company has already achieved its goal of selling 1.5 million vehicles two year earlier than expected. Secondly, Audi is trying to get ahead of BMW and Mercedes-Benz who are planning their own product offensives in the coming years, Source: Bloomberg William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article

Some very surprising news coming out Hyundai this afternoon. The automaker announced that president and CEO John Krafcik will be stepping down from his position January 1st, at the completion of his contract. "On behalf of Hyundai Motor Company, we sincerely thank John for his visionary leadership and relentless pursuit of customer satisfaction, which has driven Hyundai's record growth over the past five years," said Im Tak Uk, the COO and executive vice president of HMA's parent company, Hyundai Motor Company. Krafcik's five-year tenure as Hyundai Motor America's CEO saw the company grow from a budget brand to one that is compared with the likes of Honda, Ford, Chevrolet, Nissan, and Toyota. Hyundai also saw its sales and market share grow dramatically. “It’s been a sincere privilege and honor to lead Hyundai Motor America over the past five years, and I am confident that with Dave’s succession, our brand will continue to expand and thrive for years to come. We have many of the best and brightest employees in the business coupled with a committed and talented dealer network that will continue to pay dividends,” said Krafcik. Taking Krafcik's place as CEO is David Zuchowski, executive vice president of Sales for Hyundai. Previously, Zuchowski worked for Ford and Mazda. "I am both humbled and excited to lead Hyundai Motor America into the next chapter by continuing to build on John's great legacy, and focusing on what matters most – building the highest quality, safest and most diverse fleet of models that customers love," said Zuchowski. Source: Hyundai William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] you can follow him on twitter at @realmudmonster. Press Release is on Page 2 DAVE ZUCHOWSKI NAMED PRESIDENT/CEO OF HYUNDAI MOTOR AMERICA COSTA MESA, Calif., December 27, 2013 - Hyundai Motor America today announced that President and Chief Executive Officer John Krafcik will step down upon the successful completion of his contract on December 31, 2013. David Zuchowski, executive vice president of Sales, will assume the position of President and CEO effective January 1, 2014. "On behalf of Hyundai Motor Company, we sincerely thank John for his visionary leadership and relentless pursuit of customer satisfaction, which has driven Hyundai's record growth over the past five years," said Im Tak Uk, executive vice president and chief operating officer of Hyundai Motor Company. "John's forward-looking perspective, commitment to quality and design, and pursuit of innovative new product offerings have elevated the Hyundai brand and introduced our vehicles to a new generation of satisfied and loyal customers." Under Krafcik's tenure with the automaker, Hyundai Motor America experienced dramatic increases in sales volume and market share, while garnering numerous prestigious industry awards. During the same time period, the model year 2009 Genesis and 2012 Elantra took top honors as North American Car of the Year, while numerous Hyundai models received the Insurance Institute for Highway Safety's Top Safety Pick designation. "It's been a sincere privilege and honor to lead Hyundai Motor America over the past five years, and I am confident that with Dave's succession, our brand will continue to expand and thrive for years to come," said Krafcik. "We have many of the best and brightest employees in the business coupled with a committed and talented dealer network that will continue to pay dividends." Incoming President and CEO David Zuchowski joined Hyundai Motor America in February 2007 as vice president of Sales with responsibility for all sales, sales operations, market representation, field operations and overall dealer relations. A proven 33-year veteran of the automotive industry, Zuchowski was previously with Mazda North America, where he served as vice president of Sales and Field Operations. Zuchowski began his career in 1980 at Ford Motor Company, where he progressed through various executive-level positions including regional manager, product marketing manager, national merchandising manager and field operations manager for the Ford and Lincoln Mercury divisions. Zuchowski earned his Bachelors of Arts in Communications from the University of Washington. "I am both humbled and excited to lead Hyundai Motor America into the next chapter by continuing to build on John's great legacy, and focusing on what matters most – building the highest quality, safest and most diverse fleet of models that customers love," said Zuchowski. "Dave has consistently distinguished himself as a results-oriented and motivational leader in our industry," said Im. "During his time at Hyundai, Dave has been instrumental in our growth, especially among our dealers. He exhibits a rare combination of passion, intelligence, creativity and diligence, and we are confident that he is the right choice to build on John's momentum and take Hyundai to new and greater heights." View full article

While the Porsche 911 has a well-earned reputation for being a master of roads and racetracks, it has a lesser-known reputation for playing in the dirt. During the late seventies and early eighties, 911s could be seen running in rallies, sliding around in the dirt, snow, or whatever else. Porsche apparently is revisiting this with a new concept. According to Motor Revue, sister publication of Auto Bild, Porsche will be showing the 911 Safari Concept at the Beijing Motor Show next April. Using the 911 Carrera 4 as a base, the concept will feature an off-road-capable suspension, higher ground clearance, skid plates, and beefier tires. Now if there is enough interest, Porsche could ready a production model by 2016. Source: Motor Revue via Car and Driver William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article

Buying and selling vehicles in Cuba is an interesting proposition. If you own or want to buy a vehicle before 1959 (the year when Cuba underwent a revolution and became a communist nation), you don't have to ask the government for permission. If the vehicle built after 1959, then you would have to obtain a special permit from the government which allows you to buy that vehicle. But buying a vehicle in Cuba in the near future will become a much easier affair. The Cuban Government announced last week that it will eliminate the permit as a way to open up the marketplace to more people. “It’s become clear that while private sales of cars between individuals has developed smoothly, the sale of cars using ‘authorization cards’ has been inadequate and obsolete. The card, apart from being overly bureaucratic, became a source of speculation and illicit self-enrichment,” said the Communist Party newspaper Granma. The paper went onto say the “steps will be taken to eliminate restrictions that lost their reason for being with the passage of time. Administrative shackles that created opportunities for illegal activity will also disappear.” Even with this change, buying a new vehicle in Cuba might be a difficult task still. New models might carry a 100 percent sales tax, meant to fund Cuba's public transport system. Source: Associated Press via The Detroit News William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article

While the BMW i8 Coupe is heading into production, the convertible version has hit a snag or two. Autocar has learned from a BMW spokesperson that the i8 Spyder has presented "major challenges" in the engineering department. The problem is due to the carbon fiber-reinforced plastic construction that provides the rigidity and lightness for i8. If you take off the roof like on the i8 Spyder, it becomes very difficult to add rigidity to the shell. "The last architecture presented some fairly major challenges, to be able to produce a convertible in that format. The rigidity was hard to find with that particular architecture," said a BMW spokesman. The spokesman went onto say that there isn't a set time frame for the i8 Spyder. Earlier reports put the production date around late 2015. Source: Autocar William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article

A report from The Windsor Star says Chrysler is planning very soon to announce the next-generation of minivans. “We’ve been told (by Chrysler Canada) that Windsor Assembly is in position for new products. We’re waiting for an official announcement that could come any time now,” said Mike Lovric, Unifor Local 444 vice-president. Lovric went onto say that he has received a 2014 production schedule that shows layoff weeks slated for November and December, leading to the possibility that the plant could be retooled and production beginning sometime in 2015. Trying to figure out what Chrysler has in mind for their next-generation minivans has been difficult. CEO Sergio Marchionne has said that one the minivans will be gone come this next-generation, but didn't elaborate whether that will be the Chrysler Town & Country or Dodge Caravan. Source: The Windsor Star William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article

As we reported a couple weeks ago, General Motors has decided to pull Chevrolet from Europe to give Opel and Vauxhall some breathing room. But with this pullout comes a problem for GM in South Korea. The continent produced most of the Chevrolet models for Europe. With Chevrolet saying pulling out in late 2015, production volume is expected to drop 20 percent. This has GM thinking about cutting jobs. Reuters reports that GM Korea is planning to launch a "voluntary retirement" the 6,000 salaried workers by March. A spokesperson says this is the fourth round of job cuts since 2009. GM Korea CEO Sergio Rocha says that no production jobs will be cut. "Workloads are too light and there is a lot of anxiety about job restructuring," said an employee. GM Korea is currently working on 2015 Chevrolet Sonic, but reportedly has nothing to work on after that. "For me, this is the biggest crisis facing GM Korea since 2000 (when Daewoo Motor went bankrupt)," the employee went onto say. Source: Reuters William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article

While Mercedes-Benz and Audi have offered performance versions of the flagship sedans, BMW has been the outlier. The closest the German automaker has gotten is the B7 done by BMW specialist Alpina. But BMW M's engineering boss Albert Biermann has dreams of an M7. “I would love to compete in this area of the market. The money is just there to pick up. An M7 would be a much different proposition to the B7,” Biermann told Autocar. Now Biermann says such a model isn't in their plans at the moment. Currently, the division is looking into all-wheel drive for the M5 and M6, and possible M version of the 3-Series GT. Source: Autocar William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article

Lamborghini has revealed the successor to the Gallardo, the all new Huracán. The small Lamborghini takes a lot from the bigger Aventador in its design. The angular front end features massive airducts and LED headlights. The side profile is a dead ringer for the Aventador with airducts around the door and low roofline. In the back is a look that is very reminiscent of the Reventón with a short length and narrow tailights. Moving inside, the Huracán comes with reconfigurable 12.3-inch screen that acts as the instrument cluster and loads of Nappa leather and Alcantara. Under the hood is a 5.2L V10 engine with 610 horsepower and 413 pound-feet of torque. A new seven-speed dual-clutch gearbox and all-wheel drive deliver all of that power to the road. Lamborghini quotes a 0-60 MPH time of of 3.2 seconds and a top speed of 201 MPH. Like the Aventador, the Huracán will offer three different drive modes that alter engine response, sound levels, power distribution and stability control. The Huracán will debut at the Geneva Motor Show in March, with sales beginning sometime later. Source: Lamborghini William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] you can follow him on twitter at @realmudmonster. Press Release is on Page 2 The new Lamborghini Huracán LP 610-4: A new dimension in Luxury Super Sports Cars - Innovative technology and absolute performance redefine the super sports car experience- Pure and powerfully dynamic design language - New V10 with 610 hp, acceleration from 0-100 km/h in 3.2 seconds, top speed of over 325 km/h- From January 2014: private preview events for qualified prospects Sant'Agata Bolognese, 20.12.2013 -- A new era is beginning for Automobili Lamborghini and the luxury super sports car segment: with the brand new Huracán Lamborghini is not only presenting the successor to the iconic Gallardo, but is also redefining the benchmark for luxury super sports cars in this segment. With its pure and unique design, an innovative technology package, outstanding dynamics and excellent quality, the Huracán offers a super sports car experience on a whole new level. The Huracán combines absolute performance with easy-todrive road behavior and both luxurious and sport-oriented finish. With the Huracán, Lamborghini is taking a big step into the future, and enhancing the brand's illustrious history with the next automotive legend. Starting from January 2014 the Huracán will be the protagonist of over 130 private preview events in more than 60 cities throughout the world. The Lamborghini Huracán will make its world public debut at the Geneva Motorshow 2014. Name With a total volume of 14,022 cars produced, the Lamborghini Gallardo has been the most successful Lamborghini ever and, in its ten-year lifecycle, lifted the Lamborghini marque to a whole new level. Its successor, the new Huracán, has been developed from scratch down to the very last detail and, like the Gallardo and most other Lamborghini models, derives its name from the world of bullfighting. The fighting bull Huracán of the Spanish Conte de la Patilla breed was known for his outstanding courage and strong sense of attack. He fought in Alicante in August 1879, showing his unrelenting character and remaining defiant and invincible, thus entering into the legend of fighting bulls' history. Design The new Huracán revolutionizes the design language of the Gallardo and is pure in its lines: precise technology and top level craftsmanship meet an audacious design with sharp edges, monolithic and sculptured volumes and precise surfaces. The starting point is the silhouette of the Huracán, born out of the desire of creating an automobile, whose profile is defined by only one line that merges the front with the cockpit and the rear of the car. The lateral windows come together to create a hexagonal form inserted like a glass jewel in the car's profile. Also by night is the Huracán unmistakably a Lamborghini. Not only are the main headlamps equipped with full LED illumination, but all other light functions also feature state-of-the-art LED technology as a standard feature for the first time in the segment. Interior The interior is dominated by an innovative cockpit. A 12.3 inch full-color TFT instrument panel delivers all car information to the driver, from rev counter to navigation maps and infotainment functions, and can be configured by the driver in different setups. Fine Nappa leather and Alcantara distinguish the interior, with several color combinations offered to ensure broad individualization options. The design of dashboard and central tunnel underline a new lightness in the interior. Superb craftsmanship guarantees the highest quality and sense of luxury throughout. Chassis and powertrain Systematic lightweight design and Automobili Lamborghini's extensive expertise in carbon fiber come together in the Huracán's new hybrid chassis -- an integrated structure of carbon and aluminum elements. With a dry weight of 1,422 kg it enables not only the excellent power-to-weight ratio of just 2.33 kilograms per horse power, but also guarantees race-car precision with outstanding stiffness. The new 5.2 liter V10 engine delivers a maximum power of 448 kW / 610 HP at 8,250 rpm and a maximum torque of 560 Nm at 6.500 rpm. In the new ''Iniezione Diretta Stratificata'' (IDS), direct and indirect gasoline injections are smartly combined. This results in more power and torque with lower fuel consumption and emissions compared with the Gallardo V10 engine. The top speed of over 325 km/h and the acceleration from 0 to 100 km/h in 3.2 seconds and to 200 km/h in 9.9 seconds only partially describe the dynamic experience at the wheel of the Huracán. Also thanks to the Stop & Start technology, the combined EU consumption figure has been further reduced to 12.5 liters per 100 km (290 g/km CO2 emissions). The engine complies with EU6 emissions regulation. Driving dynamics The power of the V10 engine is brought to the road via the new 7-speed dualclutch transmission ''Lamborghini Doppia Frizione'' (LDF) and fully electronically controlled four-wheel drive system. The different driving modes of the Huracán can be selected via a driving dynamics selector switch in the steering wheel - from traction-oriented on the road to extreme performance on the race track, with three setups of the dynamics system: STRADA, SPORT and CORSA. The different modes ensure extensive modification in road behavior of the Huracán. In particular they influence the set-ups of several systems, such as the gearbox and engine behavior, the sound, the four-wheel-drive system and electronic stability control. The Huracán's carbon-ceramic brakes are a standard feature for consistently superb braking performance. The ''Lamborghini Dynamic Steering'' variable steering ratio system and magneto-rheologic suspension damper control are both available as options for further customization of the Huracán's dynamic behavior. They are also calibrated via the three different dynamic set-ups. The Huracán is produced at the Automobili Lamborghini headquarters in Sant'Agata Bolognese on an entirely newly-equipped production line. Delivery to the first customers is planned for spring 2014. View full article