William Maley

William Maley Staff Writer - CheersandGears.com September 24, 2013 From the 'we delayed it once again' file, Bloomberg is reporting that Alfa Romeo's return to the U.S. has been delayed once again. Rick Deneau, a Chrysler spokesman says the first Alfa Romeo for the U.S., the 4C has been pushed back to the second quarter of 2014. No reason was given for the delay. Back in January, Fiat/Chrysler CEO Sergio Marchionne told reporters that the Alfa Romeo 4C would be coming to the U.S. by the end of the year, “For sure it’s coming back this year with the 4C. We’ll be selling the Alfa Romeo 4C. We’re finalizing the car now so it should be here by the end of the year.” 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

I don't think its a botched project. Chrysler has been dealing with nine-speed automatic problems since the summer.

William Maley Staff Writer - CheersandGears.com September 24, 2013 Yesterday, Chevrolet announced the basic pricing information on the new 2014 Silverado High Country. The High Country will start at $45,100 (includes destination charge) and comes with a 5.3L EcoTec V8 engine with 355 horsepower and 383 pound-feet of torque, and two-wheel drive. A 6.2L EcoTec V8 and four-wheel drive are optional. The Silverado High Country stands out from other Silverados by being offered in the crew-cab configuration only and coming with such touches as a chrome grille and trim; projector headlights, body-colored bumpers, twenty-inch wheels, and High Country emblems. Inside, the Silverado High Country boasts leather seats that are heated and cooled for the front passengers, and a premium Bose audio system. The Silverado High Country's pricing puts it right smack dab in the middle of the premium pickup arena. The Ford F-150 King Ranch starts at $43,920, while the Ram 1500 Laramie Limited starts at $47,780. 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 Silverado High Country Defines Rugged Luxury DALLAS – Like a finely crafted saddle or pair of custom-fitted boots, the 2014 Silverado High Country embodies rugged luxury – craftsmanship, authenticity and functionality rolled into a truck that's stronger, smarter and more capable than ever. It is Chevrolet's first premium truck and one of the industry's most capable, backing up an exclusive package of distinctive design elements, comfort and convenience features with segment-topping capability – including the segment's most powerful V-8 and a 9,800-pound trailering rating. It goes on sale this fall, priced at $45,100 (including destination charge) for 2WD models equipped with the standard 5.3L engine. The crew cab body is exclusive to the High Country, and it is available with a 5'8" or 6'6" cargo box. Unique content includes a chrome grille with horizontal chrome bars, body-color front and rear bumpers – including Chevrolet's CornerStep rear bumper – and specific 20-inch chrome wheels with P275/55R20 all-season tires. Additional standard equipment includes halogen projector headlamps, along with chrome body side moldings, door handles and mirrors. Inside, Silverado High Country features an exclusive saddle brown interior. Heated and cooled perforated premium leather front bucket seats with High Country logos on the headrests are standard, along with Chevrolet MyLink connectivity with an 8-inch touch screen, Bose premium audio and front and rear park assist. "There's a Western flair to the High Country's cabin that reflects the truck's polished yet rugged stature," said Maria Rohrer, Silverado marketing director. "It's a passenger environment that's equally adept when working a ranch during the day and stepping out for the evening." Optional features include a sunroof, navigation system and a rear-seat entertainment system with a BluRay/DVD player, as well as a High Country Premium Package that includes heated steering wheel, driver alert package, adjustable pedals and integrated trailer brake controller. "Silverado High Country adds a higher degree of capability to the premium truck market and broadens the all-new Silverado's lineup with a unique combination of exclusive features and purposeful technologies," said Rohrer. "Its class-leading power is matched with the strong chassis and new suspension and drivetrain elements that make the 2014 Silverado 1500 the strongest, most capable and most refined truck in Chevrolet's history." Launched earlier this year, the 2014 models contributed to a 13.9-percent jump in Silverado sales in August, while sales were up more than 25 percent for the first eight months of 2013. Complementing capability The Silverado High Country gives customers the capability they want with confident power to back it up, delivering a maximum payload of 1,957 pounds – more than Toyota Tundra and RAM 1500 – and a 9,800-pound towing capacity. The EcoTec3 5.3L is the High Country's standard engine, with SAE-certified at 355 horsepower (250 kW) and 383 lb.-ft. of torque (519 Nm), and class-leading V-8 fuel economy of up to 23 mpg highway (2WD models). The available, all-new EcoTec3 6.2L delivers is the segment's most powerful V-8 engines, with an SAE-certified 420 horsepower and 460 lb.-ft. of torque. Both engines feature direct fuel injection, Active Fuel Management and continuously variable valve timing, producing refined power and torque truck customers demand – and both seamlessly switch to four-cylinder mode to save fuel during light-load driving. Each engine is matched with a six-speed automatic transmission featuring auto grade braking, which downshifts the transmission on downgrades to reduce brake wear. The brake system includes GM's new Duralife rotors, which feature a hardened and strengthened surface to reduce corrosion, helping them last up to twice as long as conventional rotors and providing quieter braking with less vibration. Additional chassis and powertrain details include: - Electric power steering, which helps save fuel and enables a more consistent, crisp steering feel and plenty of assist for parking maneuvers - New, larger rear axles with the strength to accommodate the engines' higher outputs - Standard locking rear differential with 3.42 ratio - Standard trailering package, with frame-mounted trailer hitch, seven-pin and four-pin connectors - Trailer sway control is standard and works with StabiliTrak to provide an added measure of confidence when towing a trailer. - A fully boxed frame with the main rails and major cross members formed from high-strength steel provides a rigid base for maximum hauling capability, as well as greater noise and vibration isolation – contributing to the Silverado - High Country's balance of segment-best capability and industry-leading refinement. The stiff chassis enables more precise tuning of the front and rear suspensions, giving the Silverado a more responsive feel with smoother performance and less vibration and shake, particularly on harsh terrain. View full article

William Maley Staff Writer - CheersandGears.com September 24, 2013 Despite Volvo CEOs Stefan Jacoby and Hakan Samuelsson saying a flagship sedan isn't a good idea for the brand, Geely's chairman Li Shufu has been pushing for it for awhile. Shufu's pestering seems to be working as he told Chinese media last week that Volvo will be building a flagship. Tentatively called the S100, the sedan will utilize Volvo's Scalable Platform Architecture (SPA) architecture and be much longer and luxurious than the S80. The S100 will be built and sold in China. Shufu didn't say if the S100 would be exported. Shufu also didn't mention what would be powering the S100 would could present a problem. Volvo has announced they would be dropping their five and six-cylinder engines in favor of turbocharged four-cylinder engines. A four-cylinder flagship sedan really isn't doing any favors, even if it is producing 400+ horsepower. Source: CarNewsChina.com 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

William Maley Staff Writer - CheersandGears.com September 24, 2013 Last night, Chrysler announced they are preparing to do an initial public offering of some of its shares. This comes as a result of Chrysler/Fiat CEO Sergio Marchionne and the UAW's Retiree Medical Benefits Trust (AKA the VEBA trust) not coming to an agreement concerning the 41.5 percent stake of Chrysler the trust holds. Chrysler hasn't announced the amount of shares nor the price in their IPO documents, but it did set a maximum proposed offering price of $100 million. J.P. Morgan is the the investment bank for Chrysler's IPO. The shares will come from the VEBA trust. Why is Chrysler doing an IPO? Fiat and the UAW have been arguing over how much those shares are worth and have taken this court for a judge to decide. By doing an IPO, this allows the two parties to possibly see how much those remaining shares are worth. This move presents risk for both parties. Fiat and Chrysler have the most to lose in the IPO. The IPO complicates Sergio Marchionne's plan to merge the two companies. “Completion of this offering will prevent or delay Fiat from meeting this objective. Fiat has informed us that it is reconsidering the benefits and costs of further expanding its relationship with us and the terms on which Fiat would continue the sharing of technology, vehicle architectures and platforms, distribution networks, production facilities and engineering and management resources,” said Chrysler in its filling. If Fiat really wants Chrysler badly, they could boost their offer for the remaining shares. Also, Fiat and Chrysler are on the hook for IPO. The money made from selling the shares would go to VEBA. The UAW also has a big risk. If the share prices are much lower than UAW expects, Fiat could go low on their offer. “Chrysler’s IPO is being motivated by the need of the UAW health care trust to cash in on the company’s gains over the past several years to shore up their own cash reserves. This goes against Fiat’s desire for a 100-percent ownership stake in Chrysler, and in the end, may only serve as a negotiating tactic,” said Kelley Blue Book analyst Alec Gutierrez in a statement. Marchionne says the IPO could come as early as the end of November, but the end of the year is not generally seen as a good time to take a company public. If the IPO goes through, this would be the first time Chrysler has been publicly traded since 1998. Source: Chrysler, The Detroit News, USA Today 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 Chrysler Group LLC Files Registration Statement for Proposed Initial Public Offering September 23, 2013, Auburn Hills, Mich. - Chrysler Group LLC announced today that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the "SEC") relating to a proposed initial public offering of common shares. The number of shares to be offered and the price range for the offering have not yet been determined. The common shares to be sold in this offering are proposed to be sold by the UAW Retiree Medical Benefits Trust (the "VEBA Trust"), which has exercised demand registration rights under a shareholders' agreement with Chrysler Group LLC. The VEBA Trust will receive all of the net proceeds from this offering. J.P. Morgan Securities LLC will be the lead book-running manager of the offering. This offering will be made only by means of a prospectus. A copy of the preliminary prospectus, when available, may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling (866) 803-9204. A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Copies of the registration statement can be accessed through the SEC's website. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. View full article