In Silicon Valley tech parlance, the acronym “WFIO” stands for “We’re F***ed, It’s Over“. When it comes to the Corporate Average Fuel Economy requirements imposed by the Obama administration in 2012, it’s increasingly looking like that scenario is playing out, as the “nudge” meant to get consumers into more fuel efficient cars has given way to increased purchasing of trucks and SUVs.
Some call it a hybrid, some call it an EV. Some have called it a REx, a BEVx, a landmark vehicle in EV production, and others simply call it ugly. One things is for sure however, the 2015 BMW i3 turns more heads in Northern California than a Tesla Model S. Not since I last drove the Jaguar XKR-S have I received as many questions while parked at the gas pump, or visited a gas pump so frequently, but I digress. In a nutshell, the i3 is technically a hybrid or an EV depending on the version you get.
Yesterday’s announcement of record fines for Hyundai and Kia regarding their incorrect fuel economy claims is the strongest message yet that the Department of Justice ” firm commitment to safeguarding American consumers, ensuring fairness in every marketplace, protecting the environment, and relentlessly pursuing companies that make misrepresentations and violate the law.” But if your cars kill scores of people due to neglience, you’re getting off easy.
Aston Martin won a crucial exemption from the U.S. government regarding safety standards, allowing them to continue selling their line-up of sports cars in America.
Following GM Financial’s subpoena from the Department of Justice, Santander Consumer said that it had received a subpoena as well related to
“production of documents and communications that, among other things relate to the underwriting and securitization of nonprime auto loans since 2007,”
Although we’ve covered CAFE and its effects on the new car market before, the launch of the Lexus NX provides us with an interesting example of just how far auto makers will go to have their offerings classified as “light trucks” under the U.S. regulatory scheme which incentivizes manufacturers to offer these sorts of vehicles beyond mere market forces.
An event held at Washington D.C’s Brookings Institute saw FCA CEO Sergio Marchionne and former National Economic Council head Larry Summers discuss the auto bailout on its five-year anniversary. As always, Marchionne had some colorful commentary, with a one interesting nugget about Fiat.
Globally, auto makers spent $17.6 billion on expanding manufacturing facilities – and none of that was spent in Canada.
Via Zero Hedge, we have a listing put up by the Italian government of 1,500 luxury cars that are being auctioned off. Italy, which is deep in the throes of austerity, is doing the wise thing from an optics perspective, as the cars have come to symbolize government waste and unnecessary opulence.
Rep. Ileana Ros-Lehtinen (R-FL) took to the House floor last night to speak on behalf of her recently-introduced resolution, House Resolution 488, a resolution “supporting the people of Venezuela as they protest peacefully for democratic change and calling to end the violence”.
Following her was Representative Steve King, a Republican from Iowa. In his monologue to democracy the congressman brought up a (legal) trip he took to Cuba where he got to ride in one of Cuba’s finest taxis – a 1954 Chevrolet powered by “a Russian diesel engine”, the driver of which who also happend to be a doctor. Such communism. Very Russian. Much oppressed. Below is a clip from his speech compliments of CSPAN’s awesome Create Clip Option.