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By on September 3, 2015

Tesla Building Circa March 2015

According to the Tesla Motors Club, the referral program that would award one Model X to a lucky loyalist in exchange for referring 10 new Model S buyers may already be over. “Kevin2686″ may likely be the North American winner for the free Model X considering he managed to refer 10 new buyers.

Forum members say Kevin2686 spam posted his referral link, and indeed on a CNET news story about the promotion a user named “Tesla2000″ offered $1,000 up front and $1,000 later with a link to Kevin2686’s referral code. In Tesla’s relatively vague referral language:

“Please note that we may withhold credits, discounts or other awards where we believe customers are acting in bad faith or otherwise acting contrary to the intent of this program.”

This may not end well.  Read More >

By on September 3, 2015

Tesla Model X

Details on Tesla’s “free” Model X for the first 10 referral buyers have been few since the beginning. First it appeared that the program would be limited by time, then it appeared it would be limited by country, now it appears that it’ll be limited by continent.

The first person to refer ten friends in each sales region— North America, Europe, and the Asia-Pacific — will receive a free Founder Series Model X.

But even more unclear is exactly how Tesla will give its winner their new Model X. Depending on how that happens, there are very few scenarios in which the new Model X owner (with 10 friends wealthy enough to buy new Model S cars) wouldn’t qualify for up to $7,500 back from the feds. Read More >

By on September 3, 2015

Renault_70919_global_en

Renault has released their latest global pickup concept, the Alaskan, and by global they mean almost everywhere except Alaska.

Go figure.

Regardless, the Alaskan looks like a beefed-up version of the Hyundai Santa Cruz pickup concept revealed in Detroit. Renault said the Alaskan is part of a new global push for their LCV business. We bet Mercedes will have something to say about this very soon.

Read More >

By on September 3, 2015

1-Millionth_Front_New_Final_web-2

Chevrolet finished work restoring its 1,000,000th Corvette after it was damaged in a Kentucky sinkhole that swallowed it — and other Corvettes — at the National Corvette Museum in Bowling Green, Kentucky, the automaker announced.

The celebratory 1992 Corvette had signatures on every part from auto workers at its Bowling Green, Kentucky plant. The restoration project included getting those signatures on refurbished parts, and on the two parts that couldn’t be saved, scanning and replicating the signatures.

The entire process took more than four months, and more than 1,200 man-hours to complete, according to Chevrolet. That works out to about two full-time employees working 40 hours a week, but it’s still very cool.

The details get better.

Read More >

By on September 3, 2015

Volkswagen Wolfsburg

Porsche Automobil Holding SE announced Thursday that it would propose its CFO Hans Dieter Poetsch to succeed Berthold Huber as chairman of Volkswagen’s supervisory board. The proposal was supported by Volkswagen AG.

Huber was appointed interim chairman for the German automotive giant after Ferdinand Piech was ousted in a dustup among leadership.

The announcement comes only a few days after Volkswagen said it extended its contract with its current CEO, Martin Winterkorn, for two more years and effectively ending his bid to replace Piech. Winterkorn and Piech publicly feuded over VW’s direction, eventually leading to Piech’s surprise resignation as chairman in April.

As a member of the board of majority shareholder in VW’s parent company, Porsche SE, Piech voted alongside the rest of the board unanimously to approve Poetsch as proposed chairman.

Read More >

By on September 3, 2015

tesla-model-x-09

Tesla’s third production model, its Model X crossover, will start arriving to customers who have already ordered the car September 29, the automaker announced.

Customers for the crossover, which costs $133,000 to $144,000, began ordering options and colors for their cars that include premium sound and “ludicrous speed” modes.

The company announced it would hand over its first few cars to new owners at their headquarters in California.

Read More >

By on September 3, 2015

UAW Member Assembling Corvette in Bowling Green Circa 2015

Automakers may try to negotiate a massive health care co-op with the United Auto Workers — similar to the one it has with its retirees — and potentially change private health care in the U.S., Bloomberg is reporting.

At issue are the roughly 300,000 workers and beneficiaries, and 750,000 retirees and their families who rely on the UAW for health care.

The pool of more than one million workers and their families could give the Big Three unprecedented negotiating power with U.S. hospitals and clinics.

Read More >

By on September 3, 2015

Used cars

Going to visit a dealer on a rainy day or the third Sunday after a holiday might not help you get a better deal on a used car, but tracking how long it’s been sitting on the lot may work in your favor. Aged inventory takes up valuable lot space while interest adds up every day motivating most dealers to drop the price to sell it quickly.

Most cars arrive on a dealer lot arrive from wholesale auctions or customer trade-in and are paid out from dealer funds or by a loan through floorplan financing. As with most loans, interest and fees are paid until the loan is satisfied for the floorplan. Each day of interest cuts into the potential profit for a vehicle so dealers try to move inventory as quickly as possible.

Read More >

By on September 3, 2015

In the opening moments of the above scene from the flick “Fargo,” Oldsmobile dealership sales manager Jerry Lundegaard is working up some bogus paperwork to cover his tracks with General Motors Acceptance Corporation (GMAC). We can infer that he sold some floor-planned cars and did not pay back GMAC, which was the impetus for the movie’s storyline of his bumbling attempt to extort money from his father-in-law.

Jerry’s store may have been “out of trust” with GMAC on a few dozen 1987 Cutlasses, but that pales in comparison to the scheme concocted by New York car dealer John McNamara.

Between 1980 and 1991, McNamara convinced GMAC to advance him $6.2 billion to pay for 248,000 conversion vans that did not exist. It was one of the largest Ponzi schemes in history and ended up costing GMAC $436 million, equal to $725 million in today’s dollars.

We would like to show you a photo of McNamara but none are to be found. That may be because it is believed he went into the Witness Protection Program a few years after his conviction for fraud in 1992. Just picture Lundegaard with a really big brain.

McNamara’s brilliant swindle was deliciously simple. It was based on one undeniable truth he learned from his years of owning a Buick-Pontiac-GMC dealership on Long Island: General Motors and GMAC were too incompetent and too bureaucratic to figure out that they were being scammed.

Read More >

By on September 3, 2015

moment-cancelling-engine

With a resume as accomplished as Dan Gurney has, he would be well within his rights to retire to a life of leisure. The man is 84 years old, after all. However, Gurney stays busy at his All American Racers shop in Santa Ana, California and he recently announced that he’s been granted a United States patent on what he calls the “moment cancelling” engine.

Gurney claims that by using two transversely oriented, counter-rotating crankshafts, the vibrations inherent in reciprocating piston engines will be reduced and reliability and efficiency will be improved, along with what he says will be turbine smoothness. Read More >

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