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William Maley

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Everything posted by William Maley

  1. William Maley Staff Writer - CheersandGears.com June 5, 2013 The U.S. Treasury said today it plans to sell an additional 30 million shares of General Motors stock (about 12 percent) in anticipation of GM's return to the S&P 500 on Thursaday. In addition, the UAW Retiree Medical Benefits Trust announced they would be selling 20 million shares. During the first three months of the year, the U.S. Treasury sold off about 20 percent of its remaining GM stake. Currently, the Treasury holds 16.4 percent of GM, down from a 60.8 percent share in 2009. The Treasury has said previously they plan to sell off all of their shares by 2014. But with this announcement this week, analysts think the Treasury is accelerating their plan. "The sale is opportunistic given the recent S&P500 inclusion announcement, which we estimate requires a 85.4mm share buy. The accelerated sell-down by the government should be viewed positively. We believe (the Treasury exit) could be quicker — perhaps by the end of the year," said RBC Capital analyst Joseph Spak. Source: 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.
  2. William Maley Staff Writer - CheersandGears.com June 5, 2013 Kelly Blue Book expects that prices for used 2013 Nissan Leafs will be lower than the 2012 Leaf. Announced this week, Kelly Blue Book forecasts that after three years, a 2013 Nissan Leaf will retain 35 percent of its original sticker price. That is five percent less than 2012 Leaf's resale value after three years. A major reason for the drop is attributed to 2013's lower MSRP. A 2013 Leaf starts at $29,650, a drop of $6,400 when compared to the 2012 model. Also hurting the resale value of the Leaf are nearly new models crossing the auction block. Ricky Beggs, managing editor of Black Book tells Automotive News he has seen a number of 2011 Leafs cross the auction block with fewer than 10,000 miles, and some with as few as 1,200 miles. "There were some Leafs purchased by a rental car company that didn't get a high amount of usage. The rental company had committed to buying, so almost immediately after the rental company took delivery they got remarketed," said Beggs. The average price of a Leaf at auction was just $13,700 in May, according to Black Book. Source: Automotive News (Subscription Required) 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
  3. William Maley Staff Writer - CheersandGears.com June 5, 2013 Kelly Blue Book expects that prices for used 2013 Nissan Leafs will be lower than the 2012 Leaf. Announced this week, Kelly Blue Book forecasts that after three years, a 2013 Nissan Leaf will retain 35 percent of its original sticker price. That is five percent less than 2012 Leaf's resale value after three years. A major reason for the drop is attributed to 2013's lower MSRP. A 2013 Leaf starts at $29,650, a drop of $6,400 when compared to the 2012 model. Also hurting the resale value of the Leaf are nearly new models crossing the auction block. Ricky Beggs, managing editor of Black Book tells Automotive News he has seen a number of 2011 Leafs cross the auction block with fewer than 10,000 miles, and some with as few as 1,200 miles. "There were some Leafs purchased by a rental car company that didn't get a high amount of usage. The rental company had committed to buying, so almost immediately after the rental company took delivery they got remarketed," said Beggs. The average price of a Leaf at auction was just $13,700 in May, according to Black Book. Source: Automotive News (Subscription Required) 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.
  4. William Maley Staff Writer - CheersandGears.com June 5, 2013 “The Power To Surprise” This was Kia’s tagline back in early to mid 2000’s. It was supposed to reflect that the automaker had grown from its cheap car roots to being somewhere in the range of mediocre. It is sad Kia doesn’t use that tagline anymore since now, their lineup really does have “The Power To Surprise”. Case in point, the 2013 Kia Sportage. The longest running nameplate in Kia’s lineup has changed from a rough and ready compact SUV to a compact crossover with some very distinctive looks. But is that all there is to the Sportage's "Power to Surprise"? I spent a week with a 2013 Kia Sportage SX to find out. Let's start with the exterior; a dramatic departure from previous models. The Sportage looks be something you would expect to see from the Europeans, not Kia. Up front is Kia's family grille and headlights with a strip of LEDs running along the outside edge. The side profile shows the curvy lines and sloping roofline. Also the doors feature scalloping to add a bit more character. The back is very smooth and clean. There are a couple of problems with Sportage’s design. The thick D-Pillars and sloping roofline make outward visibility somewhat null and void. Thankfully my test Sportage had a back-up camera to help me out somewhat. However, I was wishing for a blind-spot monitoring system whenever I was on the freeway. The other problem deals with the tailgate release. Any idea where it is? If you said the bottom edge, then give yourself a pat on the back. The problem with this location is that its a bit of stretch to get there. I’m hoping a power tailgate is in the cards for the Sportage. Heading inside, you get the impression that Kia had locked their exterior and interior design teams into two separate rooms and weren't allowed to see each others work till the Sportage was put into production. It doesn’t seem the interior really belongs here at all. Also, I found most of the dash materials to be of the hard plastic variety. This is somewhat of a disappointment since Kia has made great strides in adding more soft touch materials. Build quality is very high with no apparent gaps or trim pieces loose. Up front, driver and passengers get power adjustments and heated leather seats. The driver also gets a cooled seat, a surprising feature to find in the entry-level compact crossover class. The center stack is well laid out and controls are within easy reach. My test Sportage also came equipped with the optional navigation system which in my books is still one of the best out there for its ease of use and amount of features. In the backseat, headroom is somewhat tight due to the panoramic sunroof. Legroom though is very good. Under the hood, you’ll find two different engines. LX and EX models use a 2.4L inline-four producing 176 horsepower and 168 pound-feet of torque. The SX model uses a turbocharged 2.0L inline-four with direct-injection making 260 horsepower and 269 pound-feet of torque. That is mated to a six-speed automatic to either the front-wheels or my test vehicle’s AWD system. With torque arriving between 1,850 and 3,000 rpm, the Sportage SX really scoots. This is very noticeable when you’re trying to make a pass or you stomp on the accelerator. Also noticeable is how much time it takes for the turbo to spool up. You’re wondering where the power is when you leave a stop and a few moments, the power arrives. It isn’t a deal breaker per say, but adjust your driving habits accordingly. The six-speed does a very impressive job of providing smooth shifts. The EPA rates the 2013 Sportage SX at 20 City/25 Highway/22 Combined. During my time, I saw an average of around 21 MPG. The Sportage SX’s ride attempts to be sporty with a firmer suspension. However the suspension doesn’t quite make it the Sportage SX feel sporty at all. It does reduce body rolls, but also makes for a very unpleasant ride - especially if you live in area where the roads are less than perfect. Steering is okay with the system providing a good amount of weight. Kia has got half of the recipe right with the Sportage SX. The turbo engine adds quite the punch and the exterior design could be in an art museum for how beautiful it looks. However the interior looks to be a bit of an afterthought and the ride needs some finessing. If Kia can work on those problems, the Sportage could be one of the best in class. Disclaimer: Kia provided the Sportage, Insurance, and one tank of gas. Year - 2013 Make – Kia Model – Sportage Trim – SX AWD Engine – 2.0L Turbocharged GDI Four-Cylinder Driveline – All-Wheel Drive, Six-Speed Automatic Horsepower @ RPM – 260 @ 6,000 RPM Torque @ RPM – 269 @ 1,850-3,000 RPM Fuel Economy: City/Highway/Combined - 20/25/22 Curb Weight – 3,355 lbs Location of Manufacture – Gwangju, South Korea Base Price - $28,400.00 Estimated As-Tested Price - $32,450.00* (Includes $850.00 destination charge) Options: SX Premium Package - $2,000 Navigation Package - $1,200 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
  5. William Maley Staff Writer - CheersandGears.com June 5, 2013 “The Power To Surprise” This was Kia’s tagline back in early to mid 2000’s. It was supposed to reflect that the automaker had grown from its cheap car roots to being somewhere in the range of mediocre. It is sad Kia doesn’t use that tagline anymore since now, their lineup really does have “The Power To Surprise”. Case in point, the 2013 Kia Sportage. The longest running nameplate in Kia’s lineup has changed from a rough and ready compact SUV to a compact crossover with some very distinctive looks. But is that all there is to the Sportage's "Power to Surprise"? I spent a week with a 2013 Kia Sportage SX to find out. Let's start with the exterior; a dramatic departure from previous models. The Sportage looks be something you would expect to see from the Europeans, not Kia. Up front is Kia's family grille and headlights with a strip of LEDs running along the outside edge. The side profile shows the curvy lines and sloping roofline. Also the doors feature scalloping to add a bit more character. The back is very smooth and clean. There are a couple of problems with Sportage’s design. The thick D-Pillars and sloping roofline make outward visibility somewhat null and void. Thankfully my test Sportage had a back-up camera to help me out somewhat. However, I was wishing for a blind-spot monitoring system whenever I was on the freeway. The other problem deals with the tailgate release. Any idea where it is? If you said the bottom edge, then give yourself a pat on the back. The problem with this location is that its a bit of stretch to get there. I’m hoping a power tailgate is in the cards for the Sportage. Heading inside, you get the impression that Kia had locked their exterior and interior design teams into two separate rooms and weren't allowed to see each others work till the Sportage was put into production. It doesn’t seem the interior really belongs here at all. Also, I found most of the dash materials to be of the hard plastic variety. This is somewhat of a disappointment since Kia has made great strides in adding more soft touch materials. Build quality is very high with no apparent gaps or trim pieces loose. Up front, driver and passengers get power adjustments and heated leather seats. The driver also gets a cooled seat, a surprising feature to find in the entry-level compact crossover class. The center stack is well laid out and controls are within easy reach. My test Sportage also came equipped with the optional navigation system which in my books is still one of the best out there for its ease of use and amount of features. In the backseat, headroom is somewhat tight due to the panoramic sunroof. Legroom though is very good. Under the hood, you’ll find two different engines. LX and EX models use a 2.4L inline-four producing 176 horsepower and 168 pound-feet of torque. The SX model uses a turbocharged 2.0L inline-four with direct-injection making 260 horsepower and 269 pound-feet of torque. That is mated to a six-speed automatic to either the front-wheels or my test vehicle’s AWD system. With torque arriving between 1,850 and 3,000 rpm, the Sportage SX really scoots. This is very noticeable when you’re trying to make a pass or you stomp on the accelerator. Also noticeable is how much time it takes for the turbo to spool up. You’re wondering where the power is when you leave a stop and a few moments, the power arrives. It isn’t a deal breaker per say, but adjust your driving habits accordingly. The six-speed does a very impressive job of providing smooth shifts. The EPA rates the 2013 Sportage SX at 20 City/25 Highway/22 Combined. During my time, I saw an average of around 21 MPG. The Sportage SX’s ride attempts to be sporty with a firmer suspension. However the suspension doesn’t quite make it the Sportage SX feel sporty at all. It does reduce body rolls, but also makes for a very unpleasant ride - especially if you live in area where the roads are less than perfect. Steering is okay with the system providing a good amount of weight. Kia has got half of the recipe right with the Sportage SX. The turbo engine adds quite the punch and the exterior design could be in an art museum for how beautiful it looks. However the interior looks to be a bit of an afterthought and the ride needs some finessing. If Kia can work on those problems, the Sportage could be one of the best in class. Disclaimer: Kia provided the Sportage, Insurance, and one tank of gas. Year - 2013 Make – Kia Model – Sportage Trim – SX AWD Engine – 2.0L Turbocharged GDI Four-Cylinder Driveline – All-Wheel Drive, Six-Speed Automatic Horsepower @ RPM – 260 @ 6,000 RPM Torque @ RPM – 269 @ 1,850-3,000 RPM Fuel Economy: City/Highway/Combined - 20/25/22 Curb Weight – 3,355 lbs Location of Manufacture – Gwangju, South Korea Base Price - $28,400.00 Estimated As-Tested Price - $32,450.00* (Includes $850.00 destination charge) Options: SX Premium Package - $2,000 Navigation Package - $1,200 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.
  6. William Maley Staff Writer - CheersandGears.com June 4, 2013 In a surprising form of defiance, Chrysler has said no the demand made by National Highway Traffic Safety Administration to recall 2.7 million Jeep Grand Cherokees and Liberties due to fuel tanks that could catch on fire in a rear end accident. NHTSA has been investigating since 2010 and alleges that 1993 through 2004 Grand Cherokee and 2002 through 2007 Liberty are more prone to fuel leaks and fires. In its analysis, NHTSA found that 51 deaths involved Grand Cherokees and Liberties in rear-end accidents that caught on fire. NHTSA alleges the reasons for this are the tanks being made out of plastic and being placed behind the rear axle. In a statement released today, Chrysler says they do "not agree with NHTSA’s conclusions and does not intend to recall the vehicles cited in the investigation. The subject vehicles are safe and are not defective." Chrysler goes onto say their "vehicles met and exceeded all applicable requirements of the Federal Motor Vehicle Safety Standards, including FMVSS 301, pertaining to fuel-system integrity." Also, the company says in their tests the problem occurs less than once for every million years of vehicle operation and argues that NHTSA's analysis of the problem is not complete. So what happens next? Motoramic reports that NHTSA could hold a public hearing and declare the two vehicles defective. The agency could also take Chrysler to court to force the recall. It's a game of chicken and the question is, who blinks first? Source: Motoramic, Chrysler Chrysler's Press Release and White Paper is on Page 2 Chrysler Group LLC Responds to NHTSA Recall Letter June 4, 2013 , Auburn Hills, Mich. - NHTSA (National Highway Traffic Safety Administration) has issued a recall request letter proposing that Chrysler Group recall the Jeep Grand Cherokee in model years 1993 to 2004 and the Jeep Liberty in model years 2002 to 2007 (a total of approximately 2.7 million vehicles). Chrysler Group has been working and sharing data with the Agency on this issue since September 2010. The company does not agree with NHTSA’s conclusions and does not intend to recall the vehicles cited in the investigation. The subject vehicles are safe and are not defective. We believe NHTSA’s initial conclusions are based on an incomplete analysis of the underlying data, and we are committed to continue working with the Agency to resolve this disagreement. “The safety of drivers and passengers has long been the first priority for Chrysler brands and that commitment remains steadfast,” said Sergio Marchionne, Chairman and CEO of Chrysler Group LLC. “The company stands behind the quality of its vehicles. All of us remain committed to continue working with NHTSA to provide information confirming the safety of these vehicles.” Chrysler Group’s position on this matter is clear. These vehicles met and exceeded all applicable requirements of the Federal Motor Vehicle Safety Standards, including FMVSS 301, pertaining to fuel-system integrity. Our analysis shows the incidents, which are the focus of this request, occur less than once for every million years of vehicle operation. This rate is similar to comparable vehicles produced and sold during the time in question. Chrysler Group stands behind the quality and safety of its vehicles. It conducts voluntary recalls when they are warranted, and in most cases, before any notice or investigation request from NHTSA. Customers who have questions or concerns can call the Chrysler Group’s customer care line: 1-800-334-9200. View full article
  7. William Maley Staff Writer - CheersandGears.com June 4, 2013 In a surprising form of defiance, Chrysler has said no the demand made by National Highway Traffic Safety Administration to recall 2.7 million Jeep Grand Cherokees and Liberties due to fuel tanks that could catch on fire in a rear end accident. NHTSA has been investigating since 2010 and alleges that 1993 through 2004 Grand Cherokee and 2002 through 2007 Liberty are more prone to fuel leaks and fires. In its analysis, NHTSA found that 51 deaths involved Grand Cherokees and Liberties in rear-end accidents that caught on fire. NHTSA alleges the reasons for this are the tanks being made out of plastic and being placed behind the rear axle. In a statement released today, Chrysler says they do "not agree with NHTSA’s conclusions and does not intend to recall the vehicles cited in the investigation. The subject vehicles are safe and are not defective." Chrysler goes onto say their "vehicles met and exceeded all applicable requirements of the Federal Motor Vehicle Safety Standards, including FMVSS 301, pertaining to fuel-system integrity." Also, the company says in their tests the problem occurs less than once for every million years of vehicle operation and argues that NHTSA's analysis of the problem is not complete. So what happens next? Motoramic reports that NHTSA could hold a public hearing and declare the two vehicles defective. The agency could also take Chrysler to court to force the recall. It's a game of chicken and the question is, who blinks first? Source: Motoramic, Chrysler Chrysler's Press Release and White Paper is on Page 2 Chrysler Group LLC Responds to NHTSA Recall Letter June 4, 2013 , Auburn Hills, Mich. - NHTSA (National Highway Traffic Safety Administration) has issued a recall request letter proposing that Chrysler Group recall the Jeep Grand Cherokee in model years 1993 to 2004 and the Jeep Liberty in model years 2002 to 2007 (a total of approximately 2.7 million vehicles). Chrysler Group has been working and sharing data with the Agency on this issue since September 2010. The company does not agree with NHTSA’s conclusions and does not intend to recall the vehicles cited in the investigation. The subject vehicles are safe and are not defective. We believe NHTSA’s initial conclusions are based on an incomplete analysis of the underlying data, and we are committed to continue working with the Agency to resolve this disagreement. “The safety of drivers and passengers has long been the first priority for Chrysler brands and that commitment remains steadfast,” said Sergio Marchionne, Chairman and CEO of Chrysler Group LLC. “The company stands behind the quality of its vehicles. All of us remain committed to continue working with NHTSA to provide information confirming the safety of these vehicles.” Chrysler Group’s position on this matter is clear. These vehicles met and exceeded all applicable requirements of the Federal Motor Vehicle Safety Standards, including FMVSS 301, pertaining to fuel-system integrity. Our analysis shows the incidents, which are the focus of this request, occur less than once for every million years of vehicle operation. This rate is similar to comparable vehicles produced and sold during the time in question. Chrysler Group stands behind the quality and safety of its vehicles. It conducts voluntary recalls when they are warranted, and in most cases, before any notice or investigation request from NHTSA. Customers who have questions or concerns can call the Chrysler Group’s customer care line: 1-800-334-9200.
  8. William Maley Staff Writer - CheersandGears.com June 4, 2013 Chevrolet has announced the pricing for the upcoming SS sedan. The base price is $45,465 (includes $995 destination charge) and comes equipped with an 6.2L LS3 V8 engine with 415 horsepower and 415 pound-feet of torque. Mated to a six-speed automatic transmission with paddle shifters, the SS hits 60 MPH in under five seconds. Standard equipment for the SS includes nineteen-inch forged aluminum wheels, Brembo front brakes, Chevrolet's MyLink infotainment system, Bose premium-sound system, color heads-up display, dual-zone climate control, blind-spot monitoring, lane departure warning, and push-button start. There are two options available for the SS; a sunroof for $900 and a full-size spare tire for $500. “The all-new SS is engineered for performance enthusiasts who’ve been clamoring for a rear-wheel-drive sedan. Adding the SS to the lineup further solidifies Chevrolet’s position as America’s best-selling performance-car brand that also includes the all-new 2014 Corvette Stingray and Camaro Z/28,” said Chris Perry, vice president of Chevrolet Marketing. What isn't known at this time is the gas-guzzler tax for the SS. Chevrolet says they will announce that when they get that information. Source: Chevrolet 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 2014 Chevrolet SS Priced at $44,470 DETROIT – The suggested retail price for the 2014 Chevrolet SS sports sedan is $44,470, including a $995 destination charge, Chevrolet announced today. Title and license fees are extra. The SS goes on sale in the fourth quarter of 2013. The U.S.-exclusive SS – Chevrolet’s first rear-drive performance sedan since 1996 – comes well-equipped in only one model, with a power-operated sunroof ($900) and full-size spare tire ($500) as the only options. “The all-new SS is engineered for performance enthusiasts who’ve been clamoring for a rear-wheel-drive sedan,” said Chris Perry, vice president of Chevrolet Marketing. “Adding the SS to the lineup further solidifies Chevrolet’s position as America’s best-selling performance-car brand that also includes the all-new 2014 Corvette Stingray and Camaro Z/28.” Standard equipment includes: High intensity discharge headlamps with Light emitting diode daytime running lamps Automatic Parking Assist Chevrolet MyLink with a color touch screen and GPS-based navigation system Bose® premium audio system – including SiriusXM radio (with 12-month trial) Color head-up display and color driver information center Dual-zone automatic climate control Alloy pedal covers Heated and ventilated front seats with memory Side Blind Zone Alert and Lane Departure Warning Rear-vision camera with rear park assist Keyless access and push-button start. The LS3 6.2L small-block V-8 powers the SS, is SAE certified at 415 horsepower (310 kW) and 415 lb-ft of torque (563 Nm), which helps it sprint from 0 to 60 mph in about five seconds. It is matched with a six-speed automatic transmission that can be shifted manually using TAPshift paddles mounted on the steering wheel. The rear axle has an aggressive 3.27 ratio that enhances the feeling of acceleration. Additional chassis and suspension features include: MacPherson strut front and multi-link independent rear suspension geometry Electronic power steering system, optimized for sport driving Standard Brembo front brakes, with ventilated, 14-inch (355-mm) two-piece rotors and four-piston calipers Forged aluminum wheels, wrapped in ultra-high-performance Bridgestone tires: 19 x 8.5-inch wheels with 245/40ZR19 tires in front; 19 x 9-inch wheels with 275/35ZR19 tires at the rear. Handling is also optimized with a nearly 50/50 weight distribution and a low center of gravity – attributes made possible in part by the aluminum hood and rear deck lid that are 30 percent lighter than traditional steel panels. The SS will be available in five exterior colors – Mystic Green, Silver Ice Metallic, Red Hot 2, Phantom Black Metallic and Heron White. All interiors will be Jet Black and feature sport front bucket seats. The SS will be subject to the gas guzzler tax. Pricing information will be updated when the charge is determined. View full article
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