Tag: money

By on October 23, 2017

GM Cruise self-driving Testing

“Mobility” is easily the most overused term in today’s automotive vernacular. Despite being incredibly nonspecific, executives can’t help but make it the bookend of most speeches involving long-term goals and production stratagems. But why?

The term itself pertains more to the industry itself than the specific products it’s developing. While “mobility” can be applied to any conveyance with a technological bent, the word also represents a company’s ability to move into other areas of business. And that’s what gets the investors and market analysts tugging at their collective collar, damp across the brow, so red hot they can’t help but raise the stock valuation of any company that seems poised to make a big move.

Tesla’s entry as novel manufacturer with a unique product was enough to send its share price through the roof, and established automakers took notice. Despite Mark Fields’ best attempt to rebrand Ford as a tech company, he couldn’t bottle that same lightning and paid the ultimate price — getting fired. However, General Motors may be succeeding where Ford initially failed. The proof of the pudding is how high its share prices continue to climb.  (Read More…)

By on July 28, 2017

Wells Fargo, Mike Mozart/Flickr (CC BY 2.0)

Wells Fargo says it will reimburse roughly $80 million to customers erroneously charged for auto collateral protection insurance policies. Customers will be remediated after roughly 800,000 customers were essentially forced to purchase unnecessary auto insurance, despite many of them already having active policies.

The banking and financial services firm reviewed policies started between 2012 and 2017 and identified approximately 570,000 customers who could have been negatively impacted. It plans to issue refunds and other payments as compensation, especially to those who defaulted on their auto loans as a result of being overcharged.  (Read More…)

By on June 28, 2016

tdiengine

With the settlement now filed with the courts between Volkswagen, regulators, and other plaintiffs in the ongoing diesel emissions scandal, the United States District Court Northern District of California has published the exact figures for buy backs and settlement figures.

Click the jump to find out how much money you’ll receive for your affected Volkswagen and Audi 2.0-liter equipped TDI.

(Read More…)

By on November 26, 2015

Porsche996d

Editor’s note: Some of you loved it. Some of you loved to hate it. Yoav’s story about his brief affair with a Porsche 996 was read far and wide by our own B&B and many in the Porsche community. It originally ran July 30th, 2015. I really should get Yoav back on TTAC.

About two months ago, I purchased my fourth new-to-me car in as many years — and I still had two of the previous three. Of those three, one was purchased for adventure (a 1977 Porsche 911S that I drove cross-country and back nine days after purchasing it), one because of nostalgia (a Honda S2000, I bought one new and missed it), and the third due to reputation (an Acura NSX, I had never even driven one before buying this one online). Those reasons must be the foundation for some sort of automotive cardinal sins list.

However, I bought the fourth one because it represented such a good value. It was a 1999 Porsche 911 Carrera with about 146,000 miles. It hadn’t had the IMS bearing replaced, but I figured that with such high mileage it probably wouldn’t have an issue. Is this foreshadowing? The seller was a friend who had owned it for about two years but had purchased a mid-eighties 911 Targa recently and didn’t want the ’99 as a daily driver any longer.

Painted a pretty medium blue, the 996 was equipped with a beige interior and GT3 wheels. It drove well and — except for mediocre clearcoat and worn leather, a ‘check engine’ light that appeared intermittently, and a blown speaker — it was a solid performer. I certainly didn’t need the Porsche (nor did I have the space), but at $8,500, how could I go wrong?

(Read More…)

By on October 9, 2015

2013-volkswagen-lineup

There has been a lot of coverage recently devoted to that scandal where Volkswagen revealed that its vehicles have been polluting like a chemical company that dumps out its waste in poor neighborhoods late at night.

But this scandal seems to have taken our eye off the Volkswagen ball. I say this because the whole “cheating on diesel” thing is not Volkswagen’s only issue. It is merely one of a myriad of problems that has launched the brand into the mediocre, also-ran position where they find themselves in America today. And right now, I’m here to remind you of the largest of these problems: that they spend their money on absolutely the wrong things.

(Read More…)

By on July 30, 2015

Porsche996d

About two months ago, I purchased my fourth new-to-me car in as many years — and I still had two of the previous three. Of those three, one was purchased for adventure (a 1977 Porsche 911S that I drove cross-country and back nine days after purchasing it), one because of nostalgia (a Honda S2000, I bought one new and missed it), and the third due to reputation (an Acura NSX, I had never even driven one before buying this one online). Those reasons must be the foundation for some sort of automotive cardinal sins list.

However, I bought the fourth one because it represented such a good value. It was a 1999 Porsche 911 Carrera with about 146,000 miles. It hadn’t had the IMS bearing replaced, but I figured that with such high mileage it probably wouldn’t have an issue. Is this foreshadowing? The seller was a friend who had owned it for about two years but had purchased a mid-eighties 911 Targa recently and didn’t want the ’99 as a daily driver any longer.

Painted a pretty medium blue, the 996 was equipped with a beige interior and GT3 wheels. It drove well and — except for mediocre clearcoat and worn leather, a ‘check engine’ light that appeared intermittently, and a blown speaker — it was a solid performer. I certainly didn’t need the Porsche (nor did I have the space), but at $8,500, how could I go wrong?

(Read More…)

By on May 1, 2015

ONELESSPRIUS_1_400

I don’t know what you’re doing with your weekend, but I’m spending mine driving a Prius from the Midwest to the East Coast. Next week I’ll tell you all about my experience with the car, but I’ll say this: it hasn’t been what I expected. Not that my opinion on the subject matters to Toyota; I’m not a customer for a Prius or a hybrid of any type and I am unlikely to become one until the last car that can beat a Prius around a racetrack enters the loving jaws of the Crusher.

Existing hybrid owners, on the other hand, are near and dear to Toyota’s heart. Unfortunately, that affection is being returned in smaller and smaller doses.

(Read More…)

By on January 9, 2013


Earl writes:

Hi Sajeev, here’s a question for you and the best and brightest here. ”How might your life have been different had you bought a particular car?” (Read More…)

By on October 9, 2012

A report in The Independent revealed that Lotus owes supplies nearly $37 million and has even asked for tax payment deferments to help manage its cash flow.

(Read More…)

By on August 30, 2012

The U.S. government may have to wait a little more until it sees the money it has sunk into GM. The reverse is true in Serbia. There, Fiat has to wait a little longer for the money owed by the Serbian government.

(Read More…)

By on November 22, 2010

Have you ever wondered what would happen if a man went out in the streets, throwing money in the air? Handing money out to passer-bys? Well Nissan decided to find out and hired an actor to do just that. It has created quite a ruckus! In more ways than one … (Read More…)

By on September 2, 2010


The Automotive World reports that Ford has agreed to a settlement with non-union employees and retirees who incurred stock losses. The plaintiffs brought the suit against FoMoCo because they lost billions of dollars investing their 401k’s into Ford during 2000-2006; a period when Ford’s stock price plummeted. The plaintiffs argue that Ford should not have allowed them to invest huge portions of their pension plans into the company. Now Ford’s defense (which some say invokes a level of personal responsibility) is that the claimants had plenty of time and opportunity to manage their pension plans and leave if they so desired. Who’s right and who’s wrong here? I’ll leave the Bill O’Reillies and Michael Moores of this world to debate that. Or TTAC’s Best and Brightest, whoever is available sooner… (Read More…)

By on June 27, 2010


As much as it pains me to admit it, Ford is a company to be admired. When bailouts were handed around like doobies in the Summer of Love, they didn’t partake (argue that point amongst yourselves, but you know what I mean). Their cars are interesting (to say the least) and their reliability is now being thought of in the same vein as Toyota, Honda and Hyundai. All of this is down to one man, Mr Alan “I bet you wish to made me CEO now! Eh, Boeing?!” Mulally. He put forward a vision of Ford divisions and subsidiaries working together to create a global product. He pared down the extraneous brands. He put the axe to Mercury and he didn’t need a bankruptcy to do it. In short, Mr Mulally has done well at Ford. The question is how well? (Read More…)

By on January 15, 2010

Rich uncle in America. Picture courtesy blogcdn.com

GM sent Opel “an additional $930m in temporary aid until more permanent financing can be found” (good luck with that,) GM disclosed in a filing with the SEC. The total financing GM has provided to Opel now stands at $1.83 b, writes the DetN. It’s not that GM sent the money out of the kindness of their hearts. (Read More…)

By on December 19, 2009

Eat my dust. Picture courtesy carsspyphotos.com

Last year, Porsche gave Magna an eight-year contract to build the Cayman and Boxster models from 2012 on. Then Porsche went to Volkswagen. Then Opel came. VW was miffed and said “us or Opel.” When Magna’s Opel deal went poof, VW said Magna can come home, all is forgiven. Apparently not quite. Volkswagen (or Porsche, hard to say these days…)  want to use the factories of bankrupt Karmann which Volkswagen had bought and cancelled the contract. Magna cried foul and wanted money.

Now, the matter is official, writes Automobilwoche [sub].
(Read More…)

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