The main highlight of car news/automobile headlines during the last one year has been financial crunch engulfing the car industry. It rests upon the shoulders of the newly formed presidential government to devise ways and means of reviewing matters which has been affecting the industry. This includes effective implementation of the new energy law which requires stringent standards and predicts an increase by 40% by the year 2020, along with fleet wide average amounting to minimum 35 mpg.
One of the recent highlights of the automobile industry is the list of innovations and changes that BMW has sought to bring about to the face lifted 3-series coupe and convertible model of 2011. One of the changes include a brand new N55 engine which runs a twin scroll, single turbocharger instead of a twin-turbocharger system that featured in its predecessor.
The recent announcement of General Motors and Ford's intention of loading up on the small cars to get higher margins of profit has caught the attention of many. The fully loaded 2011 Fiesta is smaller in comparison to the Focus. However, this does not stop Ford from pricing the fully loaded Fiesta, 2011 model at $23,000. Ford also has plans for aggressively pricing the high-end model of Focus.
Both Ford and General Motors have announced their comeback strategy with regard to smaller cars in the Detroit auto show. These include adorning the small cars with features which seldom are to be found in these domestic econoboxes, like computer gadgets, roomy interiors, turbocharged engines as well as sporty sheet metal. The Nissan Motor Company also has recently announced its plans for keeping Titan truck within its lineup as well as creating newer models independently.
Here is a piece of great news from Mitsubishi. The recently released pictures of ASX, a new compact crossover, which the company plans for unveiling in the forthcoming Geneva auto show has been creating quite a stir in the minds of regular automobile news followers. The model is a reflection of Mitsubishi's strategic move in Europe from being known as sole SUV manufacturers to makers of crossovers as well as passenger eco-friendly cars.
A recent automobile news headline states that Continental AG is intending issuance of a high-yielding bond shortly for restructuring its huge debts, bringing it closer to a merge with its primary shareholder Schaeffler. According to a company source, the bond that is expected to be issued may amount to $2.9 billion.
The CEO of Opel Relly has asked the staff to give up the false notion that the parent company General Motors was the cause of all the European car manufacturers' troubles. Reilly also has reiterated that Opel's trouble could exacerbate on account of a sharp decrease in volumes during the year 2010 as well as the absence of a smaller sized car than Corsa subcompact. Reilly, in his letter has predicted that west European automobile market is set to lose about 1.5 million units in this year that implies a cumulative level of about 12.1 million cars.
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