http://www.maxauto.co.za/CntView.aspx?CatID=26&CntID=948
Further interest rate cuts are unlikely to make a big difference to the fortunes of South Africa's ailing car sector, said an economist. This followed more calls from automotive industry representatives for a monetary policy stimulus.
"We have the hope and expectation that the Reserve Bank will implement a further rate cut," said Jeff Osborne, CEO of the Retail Motor Industry Organisation, after the release of motor trade sale numbers for August from Statistics SA on Thursday.
Sales for the three months to August 2009 fell 11.6% compared to the same period last year, which reaffirmed trends showing that the country's demand for cars had stabilised at low levels.
Industry representatives agree that a meaningful recovery in demand for new cars, which took a nosedive in late 2008, will take place in the first half of 2010. However, the industry insists that more interest rate easing is needed at this point.
Citi SA chief economist Jean-Francois Mercier said that the 50 basis-point cut, which may or may not happen later this year, is fairly insignificant in the greater scheme of things.
"The gradual 500 basis points decline we have had since December last year is enough. A further two basis points decrease may make a difference for them [motor industry], but that would have a destabilising effect on our economy," said Mercier.
'It will take years'
He added it would take a few years for the automotive market to return to levels seen in 2006.
The industry sold a record of 481 558 new passenger vehicles in 2006, according to the National Automotive Association of South Africa (Naamsa). The projected sales number of new passenger vehicles for 2009 is 275 000 units.
Mercier said the economy would need to experience structural recovery and real growth for the industry to bounce back to its 2006 high.
Lower interest rates may not be sufficient to pull the market out of the dumps.
Interest rates are now effectively at the same low levels they were in 2006. However, the structural characteristics of the economy have changed.
The National Credit Act was implemented in June 2007, which forced retail banks to apply stricter lending criteria. "Further inflation is a much bigger concern now than what it was back then. Households also have much higher levels of debt," said Mercier.
An example of structural change in the economy would involve real economic growth leading to urbanisation, which would in turn increase demand for cars.
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Mégane Renaultsport 250 specs revealed
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Renault tested the new Mégane Renaultsport 250 through distances covering over 305,775km, making sure everything worked as well in the end as it did in the beginning. Rest assured they say, that the hot hatch will not disappoint.
Speaking of hot, under the belly lies a Euo5-compliant 16V 2.0-litre petrol turbo with a maximum power figure of 184kW at 5,500rpm and maximum torque of 340Nm delivered at 3,000rpm. Eighty percent of the torque is available from 1,900rpm. The increases were achieved through changes to the turbocharger, continuously variable intake valve timing and revised fuel-injection mapping.
Running the powertrain is a 6-speed manual gearbox with taller ratios and increased precision. Renault says as a result the car will sprint from 0-100km/h time of 6.1 seconds. Average C02 emissions are 195g/km while the combined fuel consumption figure is 8.4 l/100km.
Renault has installed technologies such as PowerStart which is designed to optimise standing start performance. A Cup Suspension Pack can be had and it includes stiffer springs, a limited slip differential, Brembo brake callipers, 18-inch alloys and 235/40 Michelin Pilot Sport 2 tyres.
Other equipment includes front parking sensors, ESP, the Renaultsport Monitor telemetry system, LED daytime running lights and bi-xenon headlights. The exterior kit includes gloss black door mirrors, a frontal F1-style blade on the lower bumper and a gloss black rear diffuser. A total of seven exterior colours are available.
The interior is packed with gadgets such as an RDS radio system, a 6 CD changer, Bluetooth connectivity and a Carminat TomTom satellite navigation system.
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MTM Pumps 199kW from Volskwagen Golf VI GTI
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German tuners Motoren Technik Mayer is releasing a new upgrade package for Volkswagen Golf GTI mk. VI owners. The new release is meant to compete with the upcoming Golf R by adding power.
The MTM package includes an extra air filter, and updated ECU tuning to boost the engine to 199kW and up to 390 Nm of torque. This boosts top speed to an electronically-limited 265 km/h. Sans limiter, the speculation is that this car could clear 300 km/h.
Other enhancements include light alloy MTM Bimoto wheels with Continental XL Sportcont tires. The wheels are matte black, which matches the few black and dark grey pieces on the car. Eight-piston caliper brakes and 380 mm discs come from Brembo.
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Audi RS6 upgraded by MFK Autosport
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German tuner MFK Autosport has a tuning package for the Audi RS6 that includes both aerodynamic and engine upgrades.
For under the hood, the Bad Kreuznach-based tuner provides for a power boost up to 382kW through a little tinkering of the software in the engine management system.
The increased power then requires the proper amount of road grip, MFK has fitted the RS6 with a set of 20-inch wheels from Schmidt Revolution's CC-Line in the color of Satin Black. The rims come wrapped in Dunlop tires sized 285/25-20 - a wide-track to keep the RS6 glued to the pavement.
Other touches are small, subtle, such as the air intakes, as well as the new sport exhaust system with a Y-branch pipe and 100 cells.
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Volkswagen Golf R & Scirocco R Launched
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VW put two new models on the market today. The Volkswagen Golf R and the Volkswagen Scirocco R go on sale in Germany.
Each R model uses a four-cylinder, 2.0-liter, turbocharged TSI engine. The Golf R will receive about 195kW and up to 350 Nm of torque, while the Scirocco R receives about 191kW. Both vehicles are electronically limited to 250 km/h. Fuel economy has been significantly improved on both models, with the Golf using about 21 percent less fuel.
Design touches on the Golf include LED front and rear lights, which are not included in the new R-Line exterior packages available for the base models. The R-Line includes 17-inch alloys, new bumpers, updated rear spoiler, and a glossy grille. Sport seats, pedals, and steering wheel are also a part of the package.
The two vehicles are now available at VW dealerships.
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The Stig gets Arrested!!!
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Top Gear is a production of the illustrious BBC but can you really trust their news reporting?
The British broadcaster's most popular show has reported that The Stig has been arrested.
Yes, the mystery race driver who is the standard by which Top Gear notches lap times for the models it tests has had a run-in with the Irish police, known as the Garda.
According to the Top Gear story, eyewitnesses reported seeing the Stig being „politely" removed from his vehicle and taken into police custody. An onlookers is quoted as saying: "I didn't see what happened exactly but it was probably really bad. Maybe he punched a swan or tried to push one of the Hairy Bikers into the river. Again."
Though various reports as to his true identity have emerged in the past, most fans of the show would probably like the Stig to simply stay the Stig - and definitely not see him unmasked and in prison.
And with a lead like this:
"the Stig has been SENSATIONALLY ARRESTED by a FRIENDLY POLICEMAN following an ALLEGED INCIDENT of some kind."
...there is quite likely some serious tongue-in-cheek action going on here. It even sounds like Jeremy Clarkson's own voice.
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