Porsche and Volkswagen at loggerheads again

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Volkswagen’s had wanted to buy 49 percent of Porsche as part of a merger on Monday, but it offer was rejected by Porsche, which said that a sale of the unit would incur a financial penalty that would make the deal impractical.

Deeming the offer ‘unfeasible’ Porsche spokesman, Frank Gaube said that deal was impractival because the sale would mean that the company would have to make a repayment of 12.5 billion euros” on a syndicated loan put together by 15 banks, a financial burden that would render the merger unworkable.

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Toyota’s deal with Aston Martin

For the first time ever, Toyota has agreed to build and supply a car to an outside car maker. Toyota will be making the car for Aston Martin. Called the Cygnet, the car will be ultra small and though based on the IQ model will be substantially different.

The car will be sold in Europe and details like launch date, price and number of cars have yet to be decided. Aston Martin is known for its premium sports cars which have been made famous thanks to the James Bond movies.

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Toyota’s brain wave technology may help the driver

Toyota has made surprising inroads in brain wave technology to drive vehicles. It has actually successfully tested driver brain wave control which works in real time. The Brain Machine Interface (BMI) kit used by Toyota responds to the user’s controlling thoughts in 125 milliseconds rather than the several seconds typical for such kit, used by other companies.

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Mercedes ML 2012 - spy shots

The Mercedes Benz ML Class is expected to make its debut in 2011, but its prototype has already been captured test driven in heavy camouflage by cameras. The car looks quite similar to the 2009 model, but has a somewhat more compact body.

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GM-Toyota joint venture terminating

Though GM has had a fruitful and long standing relationship with Toyota, the Nummi venture is ending. GM has been unable to reach an understanding with Toyota regarding a new product plant at Fremont, California. And since it is in the process of downsizing, this is one venture which will not see the light of day.

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Lamborghini Gallardo LP 550-2 spy shots

Images of the new Lamborghini Gallardo LP 550-2 have leaked out and are available on the net. As its name suggests, the car is built with 550 horsepower and a rear wheel drive.

The Lamborghini Gallardo LP 550-2 is a different version of Lamborghini’s 5.2L V 10 model. Performance figures and other details have yet to be revealed, but the wait won’t be long since the car is soon to be officially introduced, probably at the Frankfurt Motor Show in September. Production will be limited to 250 units, so if you are in the market for one, do get in line.

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Ford optimistic for the year’s figures

It looks like Ford sales will decline only 10 to 20 percent less than the figures of last year. Preliminary figures look good and as such the company, which is one of the few large auto makers to stave off bankruptcy, is going to increase production by 16 percent to keep up its sales figures.

Because of the downturn in the auto market, Ford posted a company record $14.7 billion net loss in 2008 and expects to return to profitability in 2011. The company feels that the market is stabilizing and good times will soon return.

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Hummer sale faces opposition in China

Roadblocks continue to dog GM – the latest news is that the Chinese government may well oppose the Hummer sale valued at $100 million. Chinese state radio, in a broadcast, said that the sale may be blocked for environmental reasons as the Hummer is a gas guzzling car.

Sichuan Tengzhong Heavy Industrial Machinery, the purported buyer, however disputed the reports saying, “The fact that it is from an article from a state media organisation does not mean it is government policy.”

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The bright spot in GM - Camaro

Though GM faces problems galore, there is one bright spot in the auto maker’s difficulties. Its Camaro car is selling like there’s no tomorrow and there are no stocks with dealers. The car sells so fast at the starting sticker price of $22,040 even though there are incentives that dealers want more stock

The 2010 Chevrolet Camaro is so much in demand that it can call for $500 more than the list price, forget about incentives. The company had an order book of 25,000 and it has fulfilled half the order book. Now dealers are wanting more because the car is selling so fast, but it will take time for GM to deliver stock.

The Camaro competes with Ford Motor Co.’s Ford Mustang and Chrysler Group LLC’s Dodge Challenger. It has probably benefited from its use as Bumblebee in the movie, Transformers.

The sports car, made in Oshawa, Ontario, is available with a 3.6-liter, direct-injected V-6 engine or a 6.2-liter V-8. When powered by the V-6, the Camaro is rated at 29 miles per gallon on the highway and 18 mpg in the city with an automatic transmission. Dealers who are otherwise going in losses or have lots of unsold stock would like to have more of these cars because of the speed with which they are selling.

Fiat 500 Cabrio selling well around the world

Even though Fiat has been for long in the auto business now it is emerging as a major power broker in the industry. Considering its deal with Chrysler has gone through and more mergers and acquisitions in the pipeline, Fiat may be on its way to becoming a market leader.

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Tata may cut jobs at Jaguar in UK

Tata Motors has announced that it may have to cut jobs at Jaguar as demand for this luxury car has fallen along with the recession. Jaguar already faces a pre-tax loss of ₤281 million. Globally sales of Land Rover fell by 35 percent while Jaguar’s new XF model rose by 1 percent.

Jaguar Land Rover has 14,500 employees on its rolls and has already cut 2,000 jobs. Now Tata Motors warns of further job cuts and even plant shut downs. The company is attempting to secure jobs by winning guarantees from the UK Government on a £340m European Investment Bank loan. However, the negotiations have been lengthy, with the state demanding strict terms for any financial support.

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Nissan plans on dominating the ZEV market

While many auto makers are in the process of making zero emission vehicles, none has entered the market in a big way. Nissan is hoping to dominate this market by rolling out 100,000 cars every year when it starts production in its Tennessee plant in the US. According to Nissan, the market will see ZEVs as early as next year but in 2012, there will be a lot more vehicles available.

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BMW to use hybrid engine on M5?

BMW has joined the hybrid bandwagon in a big way, contributing to greener cars, with lower carbon dioxide emissions. While its M series of cars is extremely fast and performance and speed oriented, BMW will probably use the KERS hybrid drive system on the new M5 model which is being designed, though the car will not be available till 2011.

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New engines for BMW 1-series 2010

BMW gives more choice to its buyers in Europe than it does to its US customers. In its series 1, the European buyer can select from one, three, four and five doors as also different gas or diesel power trains. Now BMW is expanding its line up for 2010 with the Lifestyle and Sports models.

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Mercedes CL coupe with a new look

Mercedes has given a new look to its CL coupe as these images taken when the car was being test driven in Nuremberg show. It has new headlights, the grille is different; there are LED daytime running and rear lights, new mirrors and a different bumper on the rear.

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