Max Auto Updates - 26/10/2009

Hartge Tunes BMW X5 xDrive35d to 241kW



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Hartge has unveiled a new performance package for the BMW X5 xDrive35d.

While details are limited, the company was able to increase the 3.0-liter engine's output from 195kW to 241kW (likely through a reprogrammed ECU and a sport exhaust system). The added power enables the crossover to accelerate from 0-100 km/h in 6.1 seconds (down from 7.0 seconds) while the top speed increases to 244 km/h (up from 235 km/h).

For the exterior, Hartage installed their previously released body kit which includes new front and rear fascias, wheel arch extensions, and aggressive two-piece side sills. Other goodies include a sport spring set (with a leveling system for the rear axle), 22-inch ‘BRILLANT CLASSIC 2' wheels, carbon fiber mirror casings, and stainless steel tailpipe finishers.

Inside, the X5 boasts carbon fiber trim, a revised instrument cluster (with a 300 km/h speedometer and a silver metallic dial and red needle set), aluminum pedals, and black velour floor mats.

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GM and Chrysler Top Execs to Get 25% Pay Cut

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As part of a bold move to cut upper management pay at firms that received bailout funding, the U.S. government announced that they will slash executive salaries by 25% at General Motors and Chrysler. Deeper cuts were put in place at the automakers' financial businesses as well.

Compensation at Chrysler Financial was cut by 56%, while GMAC executives found 85% cut from their weekly paychecks.

Chrysler CEO Sergio Marchionne was not affected. The head of Fiat took no money from Chrysler for 2009. Any executive staying onboard at Chrysler will make no more than $500,000 cash, with bonuses and stock options also severely limited.

Despite the pay cuts, GM CEO Fritz Henderson may receive an increase in pay. Henderson stands to earn cash and stock compensation up to $5.5 million, much higher than his 2008 salary, but $2 million less than his 2007 deal.

Although critics condemn the decison by the government as being interfering, the slash was part of the agreement the firms made when they took funding from the Troubled Asset Relief Program in 2008. TARP funds were used by GM and Chrysler as operating capital, helping to stave off bankruptcy.

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VW moves on bankrupt Karmann

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German carmaker Volkswagen AG wants to buy bankrupt automaker Karmann, a spokesman for Karmann said Sunday, confirming a report by weekly Der Spiegel.

"There have been talks for some time," Roland Leithaeuser told The Associated Press on Sunday.

Spiegel quoted an unidentified VW manager saying that Volkswagen wants to invest several million euros "in the two-digit range" to buy German carmaker Karmann, which filed for bankruptcy protection earlier this year.

VW did not want to comment on the report.

According to Spiegel, VW and Karmann have been negotiating a price for several weeks, but have not yet come to an agreement.

Osnabrueck-based Karmann, which made the classic VW Karmann Ghia two-seater from the 1950s to the 1970s and also has built convertibles for Audi and Chrysler, filed for bankruptcy protection in April, blaming the fallout from the global financial crisis and the sharp decline in demand for cars for its predicament.

The company currently still employs 1 600 workers, down from 7 000 before the bankruptcy.