The Truth About Cars » High Finance http://www.thetruthaboutcars.com The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. Mon, 08 Feb 2016 20:14:50 +0000 en-US hourly 1 http://wordpress.org/?v=4.2.4 The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. The Truth About Cars no The Truth About Cars editors@ttac.com editors@ttac.com (The Truth About Cars) 2006-2009 The Truth About Cars The Truth About Cars » High Finance http://www.thetruthaboutcars.com/wp-content/themes/ttac-theme/images/logo.gif http://www.thetruthaboutcars.com/category/news-blog/high-finance/ So Musk Now Owns 22 Percent of Tesla, But Does It Matter? http://www.thetruthaboutcars.com/2016/01/so-musk-now-owns-22-percent-of-tesla-but-does-it-matter/ http://www.thetruthaboutcars.com/2016/01/so-musk-now-owns-22-percent-of-tesla-but-does-it-matter/#comments Sat, 30 Jan 2016 19:10:31 +0000 http://www.thetruthaboutcars.com/?p=1276777 The automotive and tech blogs are aflutter Saturday with news that Elon Musk has gobbled up another chunk of Tesla stock — this time at a discount. Musk exercised and held a stock option this week that saw the multi-billionaire increase his ownership of Tesla Motors by 532,000 shares. In total, those shares are worth over $101 million […]

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The automotive and tech blogs are aflutter Saturday with news that Elon Musk has gobbled up another chunk of Tesla stock — this time at a discount. Musk exercised and held a stock option this week that saw the multi-billionaire increase his ownership of Tesla Motors by 532,000 shares. In total, those shares are worth over $101 million […]

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Ford Fueled Record Profits in 2015 With Truck Sales, China Surge http://www.thetruthaboutcars.com/2016/01/ford-fueled-record-profits-2015-truck-sales-china-surge/ http://www.thetruthaboutcars.com/2016/01/ford-fueled-record-profits-2015-truck-sales-china-surge/#comments Thu, 28 Jan 2016 18:00:15 +0000 http://www.thetruthaboutcars.com/?p=1274889 Ford announced Thursday that it had earned a record pre-tax profit of $10.8 billion for 2015 — including $2 billion in the fourth quarter — bolstered by pickup sales in the U.S. and strong growth in China. The record-setting year for the automaker wasn’t much of a surprise — second- and third-quarter results set records […]

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Ford announced Thursday that it had earned a record pre-tax profit of $10.8 billion for 2015 — including $2 billion in the fourth quarter — bolstered by pickup sales in the U.S. and strong growth in China. The record-setting year for the automaker wasn’t much of a surprise — second- and third-quarter results set records […]

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Jeep Pickup, Jeep Compass and Jeep Renegade: All The Things We’ll Probably Hear Tomorrow from Sergio http://www.thetruthaboutcars.com/2016/01/jeep-pickup-jeep-compass-jeep-renegade-things-well-probably-hear-tomorrow-sergio/ http://www.thetruthaboutcars.com/2016/01/jeep-pickup-jeep-compass-jeep-renegade-things-well-probably-hear-tomorrow-sergio/#comments Tue, 26 Jan 2016 20:00:18 +0000 http://www.thetruthaboutcars.com/?p=1273841 On Wednesday, Fiat Chrysler Automobiles CEO Sergio Marchionne will update investors on his long-term plans and fourth-quarter profits — namely, how many Jeeps it sold — during his scheduled earnings conference call. It’s widely expected that Sergio will address the near-certainty that Jeep will build a pickup based on the Wrangler, as well as the […]

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On Wednesday, Fiat Chrysler Automobiles CEO Sergio Marchionne will update investors on his long-term plans and fourth-quarter profits — namely, how many Jeeps it sold — during his scheduled earnings conference call. It’s widely expected that Sergio will address the near-certainty that Jeep will build a pickup based on the Wrangler, as well as the […]

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TTAC News Round-up: Investors Latest Headache for Volkswagen, New E-Class From $50K, and Dealers Surprised That You’re Surprised http://www.thetruthaboutcars.com/2016/01/ttac-news-round-investors-latest-headache-volkswagen-new-e-class-50k-dealers-surprised-youre-surprised/ http://www.thetruthaboutcars.com/2016/01/ttac-news-round-investors-latest-headache-volkswagen-new-e-class-50k-dealers-surprised-youre-surprised/#comments Mon, 18 Jan 2016 17:00:48 +0000 http://www.thetruthaboutcars.com/?p=1269257 Investors say Volkswagen should have told the world they were cheating earlier because then they could have bought more Apple stock. That, Mercedes-Benz prices new E-Class in Europe, BMW’s bigger i3 battery and Jeep soars in Europe … after the break! Investors lining up to sue Volkswagen in Germany Large shareholders of Volkswagen are considering a […]

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Investors say Volkswagen should have told the world they were cheating earlier because then they could have bought more Apple stock. That, Mercedes-Benz prices new E-Class in Europe, BMW’s bigger i3 battery and Jeep soars in Europe … after the break! Investors lining up to sue Volkswagen in Germany Large shareholders of Volkswagen are considering a […]

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TTAC News Round-up: Infamous GM Engineer Speaks, You Only Get One With Dinner, and Hydrogen’s Hedged Bet http://www.thetruthaboutcars.com/2016/01/ttac-news-round-up-infamous-gm-engineer-speaks-you-only-get-one-with-dinner-and-hydrogens-hedged-bet/ http://www.thetruthaboutcars.com/2016/01/ttac-news-round-up-infamous-gm-engineer-speaks-you-only-get-one-with-dinner-and-hydrogens-hedged-bet/#comments Sat, 16 Jan 2016 16:04:45 +0000 http://www.thetruthaboutcars.com/?p=1268041 The man in the middle of GM’s faulty ignition switch has finally spoken, and the word “mistake” came up at least twice. That, does anyone have the number for Google, GM and Honda may join forces, and take a cab … after the break! Former GM engineer says ‘mistakes were made’ in faulty switch The engineer at […]

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The man in the middle of GM’s faulty ignition switch has finally spoken, and the word “mistake” came up at least twice. That, does anyone have the number for Google, GM and Honda may join forces, and take a cab … after the break! Former GM engineer says ‘mistakes were made’ in faulty switch The engineer at […]

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Report: Ford Building New Auto Plant in Mexico http://www.thetruthaboutcars.com/2016/01/report-ford-building-new-auto-plant-mexico/ http://www.thetruthaboutcars.com/2016/01/report-ford-building-new-auto-plant-mexico/#comments Fri, 15 Jan 2016 16:05:26 +0000 http://www.thetruthaboutcars.com/?p=1267609 Ford will announce plans early this year to build a new plant in Mexico, Reuters reported Thursday. The $1.5 billion plant will produce 350,000 cars annually and could eventually produce the new Focus after production of that car leaves Ford’s Wayne, Michigan plant in 2018. Ford didn’t comment on the report. Reuters said Mexican officials with knowledge of […]

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Ford will announce plans early this year to build a new plant in Mexico, Reuters reported Thursday. The $1.5 billion plant will produce 350,000 cars annually and could eventually produce the new Focus after production of that car leaves Ford’s Wayne, Michigan plant in 2018. Ford didn’t comment on the report. Reuters said Mexican officials with knowledge of […]

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GM’s Online Sales Program Isn’t Direct-sale, But It Is Pretty Clever http://www.thetruthaboutcars.com/2016/01/gms-online-sales-program-isnt-direct-sale-pretty-clever/ http://www.thetruthaboutcars.com/2016/01/gms-online-sales-program-isnt-direct-sale-pretty-clever/#comments Thu, 14 Jan 2016 21:00:29 +0000 http://www.thetruthaboutcars.com/?p=1267009 General Motors will sell highly coveted lease returns and company cars online starting next month through a program called the Factory Pre-owned Collection. The program, which we’ve covered briefly, will sell lease returns and company cars through an online portal that makes those cars available nationwide. GM said its inventory would be roughly 30,000 cars, which all […]

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General Motors will sell highly coveted lease returns and company cars online starting next month through a program called the Factory Pre-owned Collection. The program, which we’ve covered briefly, will sell lease returns and company cars through an online portal that makes those cars available nationwide. GM said its inventory would be roughly 30,000 cars, which all […]

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TTAC News Round-up: Investors Pump the Brakes, Daimler’s Dig, and Chapo’s Crapwagon http://www.thetruthaboutcars.com/2016/01/ttac-news-round-investors-pump-brakes-daimlers-dig-chapos-crapwagon/ http://www.thetruthaboutcars.com/2016/01/ttac-news-round-investors-pump-brakes-daimlers-dig-chapos-crapwagon/#comments Thu, 14 Jan 2016 18:09:07 +0000 http://www.thetruthaboutcars.com/?p=1266585 Investors aren’t necessarily drinking automakers’ Kool-Aid that 2016 will be full of beer and Skittles. That, the China-made Cadillac CT6 that’ll eventually get here, El Chapo’s cheapo getaway car and General Motors’ questions get down and dirty … after the break! Investors aren’t embracing automakers’ continued enthusiasm Even though automakers are boasting fatter bottom lines […]

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Investors aren’t necessarily drinking automakers’ Kool-Aid that 2016 will be full of beer and Skittles. That, the China-made Cadillac CT6 that’ll eventually get here, El Chapo’s cheapo getaway car and General Motors’ questions get down and dirty … after the break! Investors aren’t embracing automakers’ continued enthusiasm Even though automakers are boasting fatter bottom lines […]

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Dealer Accuses Fiat Chrysler of Falsifying Sales http://www.thetruthaboutcars.com/2016/01/dealer-accuses-fiat-chrysler-falsifying-sales/ http://www.thetruthaboutcars.com/2016/01/dealer-accuses-fiat-chrysler-falsifying-sales/#comments Thu, 14 Jan 2016 16:14:17 +0000 http://www.thetruthaboutcars.com/?p=1266201 An Illinois dealer said in a lawsuit filed Tuesday that Fiat Chrysler Automobiles, through its regional sales offices, was intimidating and bribing dealers to report bogus sales at the end of the month to reach inflated sales targets. Automotive News reported first on the lawsuit. The lawsuit filed by dealers of the Napleton Automotive Group accuses […]

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An Illinois dealer said in a lawsuit filed Tuesday that Fiat Chrysler Automobiles, through its regional sales offices, was intimidating and bribing dealers to report bogus sales at the end of the month to reach inflated sales targets. Automotive News reported first on the lawsuit. The lawsuit filed by dealers of the Napleton Automotive Group accuses […]

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Report: Volkswagen Readying To Buy Back Some of Its Cars http://www.thetruthaboutcars.com/2016/01/report-volkswagen-readying-buy-back-cars/ http://www.thetruthaboutcars.com/2016/01/report-volkswagen-readying-buy-back-cars/#comments Thu, 07 Jan 2016 19:00:21 +0000 http://www.thetruthaboutcars.com/?p=1259209 German newspaper Sueddeutsche Zeitung reported Thursday that Volkswagen was preparing to buy back about one-fifth of its cheating diesel cars in the U.S., according to Reuters. That would mean about 115,000 cars — likely older models that would need significant work to bring emissions into compliance — could be taken off the road in an […]

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German newspaper Sueddeutsche Zeitung reported Thursday that Volkswagen was preparing to buy back about one-fifth of its cheating diesel cars in the U.S., according to Reuters. That would mean about 115,000 cars — likely older models that would need significant work to bring emissions into compliance — could be taken off the road in an […]

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AutoNation CEO Knows The Party Won’t Last, But Doesn’t Want To Hurry To The End http://www.thetruthaboutcars.com/2016/01/autonation-ceo-knows-party-wont-last-doesnt-want-hurry-end/ http://www.thetruthaboutcars.com/2016/01/autonation-ceo-knows-party-wont-last-doesnt-want-hurry-end/#comments Wed, 06 Jan 2016 21:00:10 +0000 http://www.thetruthaboutcars.com/?p=1258737 The CEO of the largest car dealer in the U.S. told Reuters on Wednesday that automakers shouldn’t base incentives on volume, which could jeopardize cutting profits. “We really have to watch the quality of volume,” AutoNation CEO Mike Jackson told Reuters. “We have to find the right balance between price and volume.” Jackson said he doesn’t anticipate […]

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The CEO of the largest car dealer in the U.S. told Reuters on Wednesday that automakers shouldn’t base incentives on volume, which could jeopardize cutting profits. “We really have to watch the quality of volume,” AutoNation CEO Mike Jackson told Reuters. “We have to find the right balance between price and volume.” Jackson said he doesn’t anticipate […]

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Barra Named General Motors’ First Chairwoman http://www.thetruthaboutcars.com/2016/01/barra-named-general-motors-first-chairwoman/ http://www.thetruthaboutcars.com/2016/01/barra-named-general-motors-first-chairwoman/#comments Mon, 04 Jan 2016 22:30:18 +0000 http://www.thetruthaboutcars.com/?p=1256985 General Motors CEO Mary Barra will be the automaker’s first female chairwoman of their board of directors, the automaker said Monday. Barra takes over for Tim Solso, who will remain on the board. Barra took over as CEO two years ago and is GM’s first female CEO. When Barra took over as CEO in January […]

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General Motors CEO Mary Barra will be the automaker’s first female chairwoman of their board of directors, the automaker said Monday. Barra takes over for Tim Solso, who will remain on the board. Barra took over as CEO two years ago and is GM’s first female CEO. When Barra took over as CEO in January […]

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General Motors Makes $500M Bet on Lyft http://www.thetruthaboutcars.com/2016/01/general-motors-makes-500m-bet-lyft/ http://www.thetruthaboutcars.com/2016/01/general-motors-makes-500m-bet-lyft/#comments Mon, 04 Jan 2016 18:00:20 +0000 http://www.thetruthaboutcars.com/?p=1256769 General Motors announced Monday that it would invest $500 million in ride-sharing service Lyft to help boost the automaker’s business in car-sharing companies and perhaps rental cars. The automaker announced that the investment — roughly half of Lyft’s latest round of fundraising — would buy the automaker seat on the ride-sharing company’s board of directors. Lyft, […]

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General Motors announced Monday that it would invest $500 million in ride-sharing service Lyft to help boost the automaker’s business in car-sharing companies and perhaps rental cars. The automaker announced that the investment — roughly half of Lyft’s latest round of fundraising — would buy the automaker seat on the ride-sharing company’s board of directors. Lyft, […]

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Analyst: Tesla and FCA Wouldn’t Weather ‘Mild Recession’ http://www.thetruthaboutcars.com/2016/01/analyst-tesla-and-fca-wouldnt-weather-mild-recession/ http://www.thetruthaboutcars.com/2016/01/analyst-tesla-and-fca-wouldnt-weather-mild-recession/#comments Sun, 03 Jan 2016 17:00:30 +0000 http://www.thetruthaboutcars.com/?p=1256369 Business Insider transportation editor Matthew DeBord (formerly of Jalopnik too) said Tesla and Fiat Chrysler’s stock show both companies’ susceptibility to market volatility and that each automaker could be in dire situations if a mild recession were to rear its head again. (Although he does note that the best return on an investment this time last […]

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Business Insider transportation editor Matthew DeBord (formerly of Jalopnik too) said Tesla and Fiat Chrysler’s stock show both companies’ susceptibility to market volatility and that each automaker could be in dire situations if a mild recession were to rear its head again. (Although he does note that the best return on an investment this time last […]

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Volkswagen Canada’s ‘Goodwill’ Program Started, Damn Exchange Rate http://www.thetruthaboutcars.com/2015/12/volkswagen-canadas-goodwill-program-started-damn-exchange-rate/ http://www.thetruthaboutcars.com/2015/12/volkswagen-canadas-goodwill-program-started-damn-exchange-rate/#comments Wed, 30 Dec 2015 21:00:49 +0000 http://www.thetruthaboutcars.com/?p=1253089 Volkswagen in Canada rolled out the same “goodwill” package for Canadian customers that they did for U.S. customers last month, according to Green Car Reports (via Autoblog). Diesel buyers north of the border — up to 100,000 of them — will get the same $500 Visa gift card, $500 dealer gift card and three years […]

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Volkswagen in Canada rolled out the same “goodwill” package for Canadian customers that they did for U.S. customers last month, according to Green Car Reports (via Autoblog). Diesel buyers north of the border — up to 100,000 of them — will get the same $500 Visa gift card, $500 dealer gift card and three years […]

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Carl Icahn Definitely, Probably Secures Purchase of Pep Boys, Maybe http://www.thetruthaboutcars.com/2015/12/carl-icahn-definitely-probably-secures-purchase-pep-boys-maybe/ http://www.thetruthaboutcars.com/2015/12/carl-icahn-definitely-probably-secures-purchase-pep-boys-maybe/#comments Wed, 30 Dec 2015 19:00:26 +0000 http://www.thetruthaboutcars.com/?p=1253121 Stop us if you’ve heard this one before: Billionaire investor, activist and horse racing enthusiast Carl Icahn bid to buy Pep Boys on Tuesday for just over $1 billion, outpricing Japanese tire giant Bridgestone for the franchise, Bloomberg reported (via Automotive News). Bridgestone’s refusal to tender a competing offer after its final bid of $947 million for the […]

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Stop us if you’ve heard this one before: Billionaire investor, activist and horse racing enthusiast Carl Icahn bid to buy Pep Boys on Tuesday for just over $1 billion, outpricing Japanese tire giant Bridgestone for the franchise, Bloomberg reported (via Automotive News). Bridgestone’s refusal to tender a competing offer after its final bid of $947 million for the […]

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Pep Boys Agrees to $947M Bid From Bridgestone http://www.thetruthaboutcars.com/2015/12/pep-boys-agrees-to-947m-bid-from-bridgestone/ http://www.thetruthaboutcars.com/2015/12/pep-boys-agrees-to-947m-bid-from-bridgestone/#comments Mon, 28 Dec 2015 19:00:31 +0000 http://www.thetruthaboutcars.com/?p=1250833 Bridgestone will buy Pep Boys for $947 million, shunning a competing bid from investor Carl Icahn, to complete its purchase of the auto parts chain, Bloomberg reported (via Automotive News). The bidding between Icahn and Bridgestone began in October when the auto parts chain shunned a $800 million price from Icahn to agree to an […]

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Bridgestone will buy Pep Boys for $947 million, shunning a competing bid from investor Carl Icahn, to complete its purchase of the auto parts chain, Bloomberg reported (via Automotive News). The bidding between Icahn and Bridgestone began in October when the auto parts chain shunned a $800 million price from Icahn to agree to an […]

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TTAC News Round-Up: Mazda’s Crossover Mania, Hyundai Lands a Lambo Man, Toyota is Just The Tops http://www.thetruthaboutcars.com/2015/12/ttac-news-round-up-mazdas-crossover-mania-hyundai-lands-a-lambo-man-toyota-is-just-the-tops/ http://www.thetruthaboutcars.com/2015/12/ttac-news-round-up-mazdas-crossover-mania-hyundai-lands-a-lambo-man-toyota-is-just-the-tops/#comments Mon, 28 Dec 2015 17:00:29 +0000 http://www.thetruthaboutcars.com/?p=1250801 Newly promoted, high-priced executives at Mazda seem to think there’s something to this crossover fad. That, Hyundai’s landed a Benjamin Button to lead Genesis and I wish I would have known how cheap I could have purchased an F1 team … after the break. New Mazda boss keying on crossover sales New Mazda North America […]

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Newly promoted, high-priced executives at Mazda seem to think there’s something to this crossover fad. That, Hyundai’s landed a Benjamin Button to lead Genesis and I wish I would have known how cheap I could have purchased an F1 team … after the break. New Mazda boss keying on crossover sales New Mazda North America […]

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Steven Lang And Doug DeMuro Debate Carmax http://www.thetruthaboutcars.com/2015/12/steven-lang-doug-demuro-debate-carmax/ http://www.thetruthaboutcars.com/2015/12/steven-lang-doug-demuro-debate-carmax/#comments Mon, 28 Dec 2015 15:00:24 +0000 http://www.thetruthaboutcars.com/?p=1246026 Earlier this week I wrote about how CarMax is heavily constrained by a market that has flip-flopped between six years worth of heavy car sales and about 18 months of resurgent truck and SUV demand. Long story short, CarMax’s acquisition costs for trucks, SUVs and crossovers has gone up considerably, and the supply of this […]

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Earlier this week I wrote about how CarMax is heavily constrained by a market that has flip-flopped between six years worth of heavy car sales and about 18 months of resurgent truck and SUV demand. Long story short, CarMax’s acquisition costs for trucks, SUVs and crossovers has gone up considerably, and the supply of this […]

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Old Porsches: Good For Investors, Probably Bad For Drivers http://www.thetruthaboutcars.com/2015/12/old-porsches-good-investors-probably-bad-drivers/ http://www.thetruthaboutcars.com/2015/12/old-porsches-good-investors-probably-bad-drivers/#comments Sat, 26 Dec 2015 17:00:31 +0000 http://www.thetruthaboutcars.com/?p=1249785 Looking for a place to park that retirement cash? Find a Porsche crest. Last year, the average sale price for 1974-1977 Porsches increased by 154 percent, according to Bloomberg — and the prices aren’t expected to drop anytime soon, according to the report. “European sports cars in general have been on a real rise in the last […]

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Looking for a place to park that retirement cash? Find a Porsche crest. Last year, the average sale price for 1974-1977 Porsches increased by 154 percent, according to Bloomberg — and the prices aren’t expected to drop anytime soon, according to the report. “European sports cars in general have been on a real rise in the last […]

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Judge Overturns Sale of Miller Motorsports Park http://www.thetruthaboutcars.com/2015/12/judge-overturns-sale-miller-motorsports-park/ http://www.thetruthaboutcars.com/2015/12/judge-overturns-sale-miller-motorsports-park/#comments Fri, 18 Dec 2015 22:00:54 +0000 http://www.thetruthaboutcars.com/?p=1246626 A Utah judge has blocked the sale of Miller Motorsports Park to a Chinese investment firm because county commissioners may have illegally lowered the price to below fair-market value, KSL reported Thursday. In a filing, Judge Robert Atkins said Tooele county officials tasked with selling the shuttered racetrack ignored higher bids to sell the racetrack […]

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A Utah judge has blocked the sale of Miller Motorsports Park to a Chinese investment firm because county commissioners may have illegally lowered the price to below fair-market value, KSL reported Thursday. In a filing, Judge Robert Atkins said Tooele county officials tasked with selling the shuttered racetrack ignored higher bids to sell the racetrack […]

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Is the Classic Sports Car Bubble About to Burst? http://www.thetruthaboutcars.com/2015/12/classic-sports-car-bubble-burst/ http://www.thetruthaboutcars.com/2015/12/classic-sports-car-bubble-burst/#comments Fri, 18 Dec 2015 19:00:03 +0000 http://www.thetruthaboutcars.com/?p=1245193 During the last week, much has been written about the “Driven By Disruption” auction Dec. 10 by RM Auction/Sotheby’s. Most of that reporting was about Janis Joplin’s Porsche, which sold for a mildly outrageous sum of $1.6 million (plus fees), which beat the estimate about 2.5 times. Other top-dollar cars were mentioned as well, especially the first Aston Martin DB4GT […]

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During the last week, much has been written about the “Driven By Disruption” auction Dec. 10 by RM Auction/Sotheby’s. Most of that reporting was about Janis Joplin’s Porsche, which sold for a mildly outrageous sum of $1.6 million (plus fees), which beat the estimate about 2.5 times. Other top-dollar cars were mentioned as well, especially the first Aston Martin DB4GT […]

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TTAC News Round-up: Takata Can’t Silo, Porsche’s New Production Boss, Suppliers Love Each Other http://www.thetruthaboutcars.com/2015/12/ttac-news-round-takata-cant-silo-porsches-new-production-boss-suppliers-love/ http://www.thetruthaboutcars.com/2015/12/ttac-news-round-takata-cant-silo-porsches-new-production-boss-suppliers-love/#comments Fri, 18 Dec 2015 16:57:07 +0000 http://www.thetruthaboutcars.com/?p=1246490 Who would have known that one of the largest parts supply recalls in U.S. history could poison the well for the rest of your business? That, and Jeep needs you to keep it dry for a minute, Porsche pulls another player from Volkswagen’s bench and how big does Magna International’s yacht need to be anyway, […]

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Who would have known that one of the largest parts supply recalls in U.S. history could poison the well for the rest of your business? That, and Jeep needs you to keep it dry for a minute, Porsche pulls another player from Volkswagen’s bench and how big does Magna International’s yacht need to be anyway, […]

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Volkswagen Temporarily Shutters Showcase Phaeton Plant To Save Money http://www.thetruthaboutcars.com/2015/12/volkswagen-temporarily-shutters-showcase-phaeton-plant-save-money/ http://www.thetruthaboutcars.com/2015/12/volkswagen-temporarily-shutters-showcase-phaeton-plant-save-money/#comments Thu, 17 Dec 2015 20:12:32 +0000 http://www.thetruthaboutcars.com/?p=1245657 Volkswagen will suspend production at its small, flagship facility in Dresden that produces the Phaeton for at least a year, Reuters reported (via Automotive News). The small, boutique plant will be shuttered to help cut costs for the automaker, which announced it would scale back some projects to help it pay for its massive diesel scandal. […]

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Volkswagen will suspend production at its small, flagship facility in Dresden that produces the Phaeton for at least a year, Reuters reported (via Automotive News). The small, boutique plant will be shuttered to help cut costs for the automaker, which announced it would scale back some projects to help it pay for its massive diesel scandal. […]

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Volkswagen’s Woes Mount, Fraud Office Investigating Misuse of Money http://www.thetruthaboutcars.com/2015/12/volkswagens-woes-mount-fraud-office-investigating-misuse-money/ http://www.thetruthaboutcars.com/2015/12/volkswagens-woes-mount-fraud-office-investigating-misuse-money/#comments Wed, 16 Dec 2015 18:00:00 +0000 http://www.thetruthaboutcars.com/?p=1243641 The European Union’s anti-fraud office is investigating Volkswagen for misusing publicly funded loans to develop illegally cheating software in its cars, the New York Times reported Wednesday. Volkswagen was provided the low-interest loans by the European Investment Bank to develop engines that were more fuel-efficient and produce less carbon dioxide, according to the report. In […]

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The European Union’s anti-fraud office is investigating Volkswagen for misusing publicly funded loans to develop illegally cheating software in its cars, the New York Times reported Wednesday. Volkswagen was provided the low-interest loans by the European Investment Bank to develop engines that were more fuel-efficient and produce less carbon dioxide, according to the report. In […]

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