Autoblog

One thing's for sure, General Motors is not very good at playing the real estate market. Last May the world's biggest automaker finally bought its world headquarters in downtown Detroit called the Renaissance Center for the sum of $626 million. It had initially bought into the complex of seven buildings back in 1996 for $75 million, but had continued leasing office space there until the purchase earlier this year. Here we are not five months later after the purchase and GM is reportedly considering selling the RenCen to raise $500 million fast.

Rather than selling the RenCen at a loss, the preferred plan reportedly would be to mortgage the property to one or both of Detroit's pension funds to the tune of $500 million, but seeing as they're both already heavily invested in downtown Detroit property, that's not likely to happen.

GM's ultimate goal is to quickly raise $5 billion by selling any non-essential assets, including things like the RenCen, HUMMER and its medium-duty truck business. If the RenCen were sold, GM would forego working out of a cardboard box by going back to leasing the office space it's currently using.

[Source: The Detroit News, Photo by Bruce Bennett/Getty]

If you've been proudly displaying TruckNutz on the bumper of your pickup, you may have noticed that people are so transfixed by your artificial clock-weights that they nearly rear end you. The cleaver testes decorators at BrakeNutz have the answer: TruckNutz that double as an extra brake light. BrakeNutz can be plugged into your truck's existing wire harness, and when you brake they light up a brilliant red as if your F-150 has just been kicked in the crotch. Hit the jump to view BrakeNutz in action, if only to see what happens when you use the turn signal!

[Source: BrakeNutz via Jalopnik]

The Ford Flex and Mazda CX-9 haven't exactly lit up the sales charts lately, and the Flex even has $2,500 in incentives on its hood to try and move units in this atrocity of an automotive market. Despite slow sales, the two well regarded three-row crossovers have made the Consumer Reports short list. The consumer advocacy magazine ranked the top 17 three row crossovers on the market, and the Flex and CX-9 cracked the top five for the first time. The Flex was lauded for its quality interior, roominess, unique style, and the SYNC system, while the CX-9 was given kudos for driving dynamics, steering, transmission and interior flexibility. The two models teamed up to boot the perennial top five Honda Pilot, which even fell out of the top 10 in spite of a thorough redesign this year.

The big winner in the CR SUV rankings was the Toyota Highlander. The hybrid version finished with the top overall score of 86, and the standard model received a good-for-second-place 81. The Acura MDX came in third with 80 points. GM's Lambda-based crossovers all tied for 6th place with a total score of 75 points each. The Consumer Report SUV rankings will appear in its November issue, which should be hitting store shelves just about now.



[Source: Free Press]

Simply put, the U.S. economy is in the crapper. Stocks are yoyoing and our mortgages are a fraction of what they were even a year ago. For all that's fiscally wrong here in the States, there is one pleasant side effect: the price of a barrel of oil is dropping faster than Kimbo Slice against a two bit hack. Oil dropped 6% in trading on Monday, bringing down the price of a barrel of crude to $87.81. Black Gold has been on a downward trajectory since July 11, when it peaked at $147 per barrel. Since then, demand has weakened both in the U.S. and China, with demand slacking so badly that the Communist government hasn't purchased any oil in two months, and it's even selling some of its stockpiles.

While demand for oil is down to where it was eight months ago, OPEC is watching with a wary eye. The oil consortium, which on several occasions has increased oil production over the past year, is likely to slash production when it meets again in December. In the short term, industry experts are predicting that gas prices will drop below the $3 mark by November 1, which will make for one piece of good news in an otherwise lousy news cycle.

[Source: Reuters]

We've been eagerly awaiting the upcoming introduction of the 2010 Ford Taurus since we first laid eyes on the Mondeo-inspired clay mock-up that was leaked across the Internets. Ford already announced that Ecoboost technology would power at least one version of the 2010 model, and with a 350-hp twin-turbo V6 underhood, we're thinking it's finally SHO time again. The scribes over at World Car Fans have supposedly heard otherwise, though, at least when it comes to the name. Word from industry insiders has the nomenclature as Taurus ST.

World Car Fans got more than a scoop on names; they got some pics of the sporty Taurus, as well. It looks like Ford designers opened up the lower air dam to help feed the force-fed powerplant. The next generation of the corporate grille is partly visible, too, and it appears as though the bars got thinner and less cartoonish in execution. Headlights visible through the heavy camo appear to be of the LED kind, and they look far more modern than the current Taurus' 1990's design. Massive, MKS-like 20-inch rims help show this undercover Taurus has sporty pretenses, as does the duel exhaust out back. Also evident from the spy pics is the fact that the bulbous roofline from the current Taurus has been replaced with something far more shapely and contemporary. We're still a few months from seeing the 2010 Taurus in the flesh, but it's good to see that the high-performance version is well on its way.

[Source: World Car Fans]

It's been well documented that we Americans have been growing larger, and if the auto manufacturers thinking of bringing their small cars Stateside follow through, we're going to feel like giants. Toyota and Audi are the latest automakers discussing whether to bring smaller transportation for us portly Americans. Audi, who didn't design the A1 concept for US duty, now believes it's a good idea to rethink its original strategy. Audi marketing boss Peter Schwarzenbauer thinks US customers have made a real shift towards smaller cars and trucks, and that the movement has staying power. Audi brass has made no decisions regarding the A1 in the US, but the fact that they're genuinely looking into the matter is a good thing.

Toyota's cleverly packaged iQ is also being considered for sales in the US. A company insider told Automotive News that Toyota was looking into the viability of the iQ in the US. The sharp looking micro car goes on sale in Europe beginning in early 2009, and we wouldn't be surprised if it arrived Stateside some time after that.



[Source: Automotive News subs req'd]

I received an Indy 500 poster on my birthday in 1986 that featured a Yellow C4 Corvette pace car leading the pack. My dad hung the poster above my bed, and I can honestly say that I stared at it every night for years. The Corvette was my dream car for my entire childhood, but as an adult I turned my attention to European rides like the Porsche 911 and the Ferrari 360 Modena.

When the C6 Corvette hit the scene for the 2005 model year, the Bow Tie brand's halo vehicle again had me pining for some General Motors muscle. GM gave the base Vette the same 400 horsepower as the C5 Z06, and I figured it was all the power I could ever want. That is, until the 2006 Z06 came along. The Z06 was kicking ass on the track and in enthusiast magazines, and it was toppling competition that far exceeded the Corvette's $70,000 price of entry. We never had the Z06 in the Autoblog Garage, so we were more than happy to take it off Chevy's hands for a week. Hit the jump to see if the Z06 met our lofty expectations from childhood.


All photos copyright ©2008 Chris Shunk, Sam Abuelsamid/Weblogs, Inc.

Ford has said in the past that it wasn't looking to bring its lovable little Ka subcompact to the United States, but increased demand for fuel efficient transportation has the Dearborn-based automaker rethinking its plans. The Ka is very popular in Europe, where fuel-sipping cars have long been accepted, but the tiny Ka has never been sold here in the States. The new Ka, which was shown off in Paris last week, carries Ford's European Kinetic Design theme that is shared with the larger Fiesta and Focus, but in a much smaller package.

Ford CEO Alan Mulally told a local Detroit radio station this morning that many within Ford Motor Company would like to bring the Ka across the pond, and that executives are reassessing the situation. The new Ka hits European showrooms in early 2009, and even if the Ka does come here, we likely won't see the sub-compact until 2011 at the earliest. With fuel prices in constant flux, we're guessing MPG-conscious customers will make the Ka a safe bet for Ford in the U.S.


[Source: Detroit News]

Leasing is down industry-wide by about 50% from 2007 levels, but General Motors' captive credit arm took an even bigger bite out of its vehicle leasing in September. GMAC leased only 2% of all GM products in September, and the decision to do so had everything to do with the recent events of the financial markets. While leasing was down GM-wide in September, GMAC and Chevrolet were hit the hardest. The General's two volume brands accrued only .6% and .7% of its sales through leasing, compared to 11.2% and 13.6% respectively last year. Leasing is virtually non-existent for vehicles with low residuals, and Cadillac, which typically leases over 40% of its vehicles, leased at an 8.4% clip last month.

Nobody on Wall St. is purchasing securities right now, giving GMAC very little money to offer leases to its customers. A controlling interest in GMAC was purchased by Cerberus well before the private equity firm took control of Chrysler. Chrysler stopped leasing all together on August 1 in response to the huge losses it took on returned leases of SUVs and trucks. Both GM and GMAC say the break from leasing is only temporary, but with the financial markets still in flux, don't expect this trend to reverse itself any time soon.

[Source: Automotive News, sub. req'd]

It's hard to think of a DB-9 or Vanquish as anything other than automotive perfection, so when the Brits in Gaydon say the One-77 is the embodiment of Aston Martin design, color us interested. The ultra-exclusive two-seat supercar seems to have it all: a 700 hp V12, carbon fiber chassis, aluminum body, and the ultimate in Aston design. The One-77 has an exclusive price tag of about £1,050,000 before taxes, too, and even the Paris Motor Show isn't a big enough venue to unveil the full design to the world.

Aston Martin is sure playing up the anticipation for the One-77, and even though there is absolutely no shot we'll ever get to drive one, we're taking the bait. Teasers and sneak peaks are all we're getting at this point, and with a full year before it goes on sale, we could be waiting a bit longer. Aston CEO Bez Ulrich and chief designer Mark Reichman sat down to discuss the One-77 with the cameras rolling, and the two key players on team Martin seem to be in love with this vehicle. Hit the jump to see more glimpses of the One-77 lurking in the shadows, while Bez and Mark shower the mega-exclusive supercar with verbal praise. Now just show us the whole damn car already!