http://www.maxauto.co.za/CntView.aspx?CatID=26&CntID=1334
Japan's Mitsubishi Motors and France's Peugeot Citroen Wednesday scrapped an ambitious capital tie-up that would have created the world's sixth-largest auto alliance, after reports of financial discord.
The companies in December confirmed they had discussed strengthening ties and a possible financial alliance after media in Japan reported Peugeot was planning to buy a 30 to 50 percent stake in the debt-laden Japanese maker.
But on Wednesday they said a tie-up "was not appropriate in the current circumstances", a day after PSA Peugeot chief Philippe Varin and Mitsubishi Motors president Osamu Masuko met at the Geneva Motor Show.
When the talks were announced in December, analysts said such a deal would give Peugeot access to Mitsubishi's advanced electric car systems and open the Japanese firm's sales networks in Asian markets and the United States.
However, in January the French business newspaper Les Echos reported that discussions were stuck on disagreement over the valuation of the two groups because Mitsubishi carried a higher stock market valuation than PSA.
Existing agreement
Despite the breakdown, Peugeot and Mitsubishi, maker of the i-MiEV electric city car, pledged to "broaden the current successful cooperation of the two companies", a joint statement said.
Both companies have already agreed on other forms of cooperation and plan to launch the i-MiEV under the Peugeot brand in Europe this year.
They are also building a joint sports utility vehicle plant in Russia.
"We will continue working with Peugeot on the new Russian factory, which we are jointly constructing," said Mitsubishi spokesman Shigeru Jibiki.
"We plan to start full production there in 2012, when Peugeot will kick off its output in April and Mitsubishi in October."
Mamoru Kato, an auto analyst at Tokai Tokyo Research Centre, said a capital alliance between the car makers is still possible in future.
"The statement only ruled out a capital alliance at this time," Kato said.
"It's just not the right timing as the end-March accounting book closing approaches for Mitsubishi Motors, which needs to have specific figures for negotiations," he told AFP.
"With global tie-ups and mergers going on in the auto industry, the two companies' policy of joining hands firmly will remain intact," Kato said, adding both need to seek higher sales volumes.
Japan's fourth-biggest automaker Mitsubishi Motors last month announced a net loss of 25.7 billion yen for the nine months to December, hit by the economic downturn and a stronger yen.
For the full financial year, Mitsubishi Motors kept unchanged its forecasts for a net profit of five billion yen.
Needs
Another industry analyst who asked not to be named said Peugeot would hardly benefit from a capital tie-up with the Japanese company.
"It's a debt-ridden company with market capitalisation of 700 billion yen (7.9 billion dollars)," he said of the Japanese company.
"PSA Peugeot would need to get a decent equity stake if it wants to have control over Mitsubishi's management," he said. "It would be a very high-priced but risky purchase."
The analyst called the failure to agree a tie-up now "a blow to Mitsubishi Motors. Some companies within the Mitsubishi group, such as a trading house and banking units, also want to sell their shares in Mitsubishi Motors."
"The only bright thing in Mitsubishi Motors is electric vehicles, but it does not have enough money to spend on the new technology ... Mitsubishi Motors need a partner who has a larger sales network to spread its electric vehicles."
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Police launch cellphone blitz
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Traffic authorities on Wednesday launched a month-long cellphone and seatbelt blitz in Cape Town.
The province and the city said in a statement that research showed that motorists using cellphones while driving were less
capable than drunk drivers.
Mayoral committee member JP Smith said phoning while driving resulted in avoidable accidents and fatalities.
"We hope this blitz will significantly reverse the reckless trend of using a cell phone while driving," he said.
City law enforcement officials recorded 661 cellphone offences and 3034 seatbelt offences in January.
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BMW Alpina B3 S Biturbo Revealed with 294kW
http://www.maxauto.co.za/CntView.aspx?CatID=26&CntID=1336
Originally launched in Geneva 2007 (as the B3 BiTurbo - notice the missing 'S'), the B3 S Biturbo features "improved performance and torque with reduced fuel consumption and CO2 emissions." It was designed to combine "explosive performance with a high level of comfort and everyday usability, addressing the needs of an unusually broad target group of automotive connoisseurs."
Broad is an understatement - the B3 S Biturbo is available as a Sedan, Coupe, Estate, or Convertible (with either rear-wheel drive or all-wheel drive). Regardless of body style is selected, owners will be rewarded with a powerful 3.0-liter engine that produces 294 kW and 540 Nm of torque. In order to eke out the extra performance, ALPINA engineers optimized the air intake and air filter (in terms of pressure loss), added a new exhaust system (which optimizes back pressure), installed high-strength MAHLE pistons (which allow for a maximum boost of 1.2 bar with a compression ratio of 9.4:1), and put in a high-performance cooling system.
Thanks to the engine modifications, the B3 S Biturbo can accelerate from 0-62 mph in 4.7 seconds and hit a top speed of 300km/h. In terms of efficiency, the car can achieve up to 9.7 l/100km while emitting 224-225 g/km of CO2 in the combined EU test cycle.
As always, ALPINA added some modest styling tweaks to separate the B3 S Biturbo from the standard BMW 3-Series. Highlights include 19-inch light-alloy wheels, a new rear valance (on the Coupe and Convertible), a front-lip spoiler, a leather sports steering wheel, and a unique ALPINA instrument cluster.
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Bob Lutz to retire, again
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Robert "Bob" Lutz will finally retire from General Motors effective May 1, 2010. We say finally because he had announced he would retire by the end of 2009 but then made an about-turn in July last year. Lutz has been head of product development since rejoining the General in September 2001 and was last year moved into the Vice Chairman position of the new GM.
"The influence Bob Lutz has had on GM's commitment to design, build and sell the world's best vehicles will last for years to come," GM CEO and Chairman Ed Whitacre said. "I, along with many other men and women in GM and throughout the industry, have greatly benefited from his passion, wisdom and guidance."
Part of the reason Lutz, 78, says he is retiring is that several products like the Chevrolet Camaro and Cadicallc SRX are selling well. He therefore believes the company he is leaving behind is well on the way to recovery and good financial health.
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Fab Design Porsche Panamera at Geneva
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Set to become the first non-Mercedes tuned by the company, the Panamera features a widebody kit with a new front end, a circumferential front spoiler, a carbon fiber hood, flared wheel arches, and aggressive side skirts. Out back, Fab installed a new bumper (with an integrated diffuser), a three-tailpipe trapezoidal exhaust, a carbon fiber rear wing, and a massive tailgate-mounted spoiler.
Under the hood, the twin-turbo 4.8-liter V8 produces 515 kW. While the company didn't release performance specifications, the standard 368 kW Panamera Turbo runs from 0-62 mph in 4.2 seconds and has a top speed of 188 mph (303 km/h).
Besides the engine modifications, the Fab Panamera also features 22-inch wheels, a 20mm reduction in ride height, and a high performance braking system.
Pricing information hasn't been released, but production will be limited to 15 units.
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Subaru Impreza XV Crosses Over in Geneva
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The new Impreza XV, appearing in Geneva for the first time, rides on the Impreza's rally reputation and the utility given by its maker's crossover vehicles.
It is powered by a choice of two compact four-cylinder engines: a naturally aspirated petrol and the other a turbo diesel with a diesel particulate filter (DPF). Both motors feature Subaru's boxer layout. Employed transmissions are a 4-speed automatic and a 5-speed manual for the 2.0R petrol, while the 2.0D has a specially-developed 6-speed manual. Of course power goes to all four wheels via the symmetrical All-Wheel Drive (SAWD) system.
Front suspension uses a strut-type model and the rear has a double wishbone suspension system. Subaru says this combination is sufficiently stiff for a fun drive yet at the same time provides sought-after family comfort when needed.
Some exterior features include a new front grille with the same design motif as other Subaru crossovers, a sporty front bumper, wheel arches with claddings, black aluminium roof rails and a large roof spoiler. The brake lights are made from LEDs.
Subaru adopted a two tone brown/black fabric seat arrangement for the interior. Black leather is also available as an option. The rest of it includes a 10-speaker CD/radio sound system, Bluetooth connectivity, an iPod connection and a leather-covered steering wheel with audio controls.
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Aston Martin Debuts Two Special Editions in Geneva
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The V12 Vantage Carbon Black Edition features unique metallic paint (which requires 50 man-hours of hand painting to apply), carbon fiber side strakes, and black diamond turned alloy wheels. Inside, Aston Martin installed carbon fiber sill plates with "V12 Vantage Carbon Black" etched in stainless steel.
The other special edition, the DBS UB-2010, celebrates Dr. Ulrich Bez's 10th year as Aston Martin CEO. It features ‘Azurite Black' paint, metallic bronze leather (with woven leather seat inserts), Cryptic Titan trim, and sill plates signed by Bez. Production will be limited to 40 units - 20 Coupes and 20 Volantes.
Besides the special editions, Aston Martin launched Works Service Tailored. Effectively a bespoke styling program, Works Service Tailored "...focuses on fashioning color and materials with limitless boundaries precisely to customer choice and specification, enabling owners to apply their own personal taste." To kick off the launch, the company unveiled a Magma Red Rapide and a Blue Pearl White DB9 with gun metal accents.
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2010 Toyota RAV4 Unveiled at Geneva Motor Show
http://www.maxauto.co.za/CntView.aspx?CatID=26&CntID=1341
The new Toyota RAV4 has been presented in Geneva, 16 years after the first-generation model was first launched in Europe. The vehicle is said to be more sophisticated with a new chrome-accented front design, a horizontal bar-type front grille, framed by new headlights incorporating projector-type low beam lights and a full-width, aerodynamically styled front bumper. The rear end has LED lights.
Inside Toyota will offer customers a new leather/Alcantara seat upholstery option. Further interior goodies will include DVD and HDD navigation systems.
The Easy Flat seating system allows the rear seats to be folded down within the load space floor without removing the headrests or the seat cushions.
As far as engines are concerned, the new RAV4 has a 2.0-litre Valvematic petrol engine producing 116kW at 6,200rpm and 198Nm of torque at 4,400rpm. Its 2WD version does 0 - 100km/h in 10.2 seconds while the 4WD achieves the same speed in 10.5 seconds. The 2.2D 150 is also available in 2WD or 4WD configuration. Its maximum power output is of course 110kW and torque is 340Nm between 2,000rpm and 2,800rpm.
A 2.2D 180 version of the same engine is good for 130kW and 400Nm. Toyota says it can sprint from 0 - 100km/h in 9.3 seconds and top off at 200km/h. Available transmissions are a 6-speed manual or the Multidrive S which is Toyota's take on the Continuously Variable Transmission (CVT) system.
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