http://www.maxauto.co.za/CntView.aspx?CatID=26&CntID=1551
Seven men were arrested for robbery after allegedly robbing a man they had given a lift at the Marlboro on-ramp in Sandton on Saturday night, Johannesburg metro police said on Sunday.
Chief Superintendent Wayne Minnaar said a 25-year-old man was hitchhiking to Pretoria when seven men in a Toyota Venture gave him a lift.
"They then allegedly robbed him of his cellphone and R420. However, while driving on the M1 north, the alleged robbers ran out of fuel and they had to now push the Venture to the nearest garage near Centurion... with their alleged victim still in the car," he said.
When the men got to the garage, their alleged victim alerted metro police officers who had stopped at the filling station and told them what had happened.
"Upon searching the men, the officers found 18 suspected stolen cellphones, including one belonging to the man they had given a lift, in their possession," Minnaar said.
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Fuel price relief ahead
http://www.maxauto.co.za/CntView.aspx?CatID=26&CntID=1552
Fuel prices in South Africa could come down a couple of cents in June if the rand/dollar exchange rate stabilises over the rest of the week and there are no drastic fluctuations in international fuel prices.
The latest figures from the Department of Energy show an average over-recovery of 18.8c/litre for petrol in the period March 31 to May 20.
This means that on June 2, the first Wednesday of next month, petrol prices could be reduced at least 18c/litre if factors affecting price remain the same until Thursday – the last day of the review period, on the basis of which June's price adjustment will be determined.
For diesel there is an over-recovery of 6.1c/litre.
An over-recovery of 6.1c/litre means that the public is currently paying 6.1c more for diesel than the basic price formula determines.
For paraffin there is an over-recovery of 5.2c/litre.
Petrol currently costs R8.72/litre for 95 octane in Gauteng, and R8.48 at the coast. Wholesale diesel costs R7.81 in Gauteng and R7.67 at the coast.
According to Bank of America Merrill Lynch’s weekly energy report, because of the weaker euro American oil prices last week fell from a high of $86/barrel two weeks ago to less than $70/barrel.
Researchers at Bank of America Merrill Lynch now think that their initial forecast of an average oil price of $92/barrel for the second half of the year was somewhat high. But they still expect oil prices again to break through the $100 level next year on the strength of the recovery of the global economy.
A building up of supplies of crude oil in the US has contributed to lower oil prices.
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Brabus Stealth 65: another powerful SL65 Black
http://www.maxauto.co.za/CntView.aspx?CatID=26&CntID=1553
Deja vu? It looks as though the supposedly one-off Brabus Vanish now has a successor. The company has apparently developed another highly-tuned car based on the limited-edition Mercedes-Benz SL 65 AMG Black Series.
Introducing the Brabus Stealth 65, a car that has 3.8% more horsepower than the Vanish. The 6.0-liter AMG V12 biturbo engine in the Stealth has been re-engineered to kick out 603 kW, and provides up to 1420 Nm of torque while the Vanish produces a little less at 588 kW but matches torque. By comparison the AMG-produced SL 65 BS delivers 493 kW, and up to 1000 Nm.
The car uses the Brabus T65 RS tuning kit, that includes four intercoolers, and redesigned turbocharger turbines. It also comes with a high performance exhaust and a remapped ECU. Brabus and Stealth badging can be seen at various points around the car, like the performance brake calipers, and the gauges.
If you want to see either the Stealth or the Vanish, you only have one place to go: Dubai. The owners of the two cars were surprised to discover that they live in the same neighborhood, and will now have to continue a friendly rivalry of custom car one-upsmanship. So far the Stealth 65 is leading.
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General Motors preparing for IPO
http://www.maxauto.co.za/CntView.aspx?CatID=26&CntID=1554
The Treasury Department of the United States is setting things in motion to take General Motors public.
The government has hired New York-based investment bank Lazard Freres & Co. to help facilitate an IPO (initial public offering where shares of the company became available for purchase on the stock market) for which it will be paying a healthy $500,000 per month fee if Lazard Freres is able to take the company public within 12 months. Otherwise, the monthly fee will be cut in half. The investment bank's services had previously been used by the United Auto Workers union to audit GM's books back in 2007.
When GM went bankrupt last year, the U.S. government which had provided it with bailout funds was left as the majority owner. The U.S. Treasury provided $50 billion to GM, of which it repaid $6.7 billion, the rest was converted to 61 percent ownership of the new GM after the automaker emerged from bankruptcy last year.
GM recently reported first quarter revenues were up 40 percent over the same period in 2009, sales were up 17 percent and the company turned a profit in North America for the first time in years.
According to GM CEO, Ed Whitacre, plans are for an IPO to take place in late 2010 or early 2011.
But the company remains cautious in its outlook.
"Certainly over the next year, there's a possibility we could do an IPO, but the market's got to be ready, the automobile industry has to continue to improve and we have to continue to improve," said Chris Liddell, GM's CFO.
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RDX Racedesign new body kit for Seat Leon 1P
http://www.maxauto.co.za/CntView.aspx?CatID=26&CntID=1555
German tuner RDX Racedesign has a body kit package for the Seat Leon.
Available is a front spoiler custom-fitted for each Leon model, including taxes. RDX also has four different off-the-shelf side skirts for drivers to choose from made to fit each Leon iteration. A rear spoiler with two openings and a center brace to compliment a dual-exhaust is available. RDX also has a headlight bezel. None of the aforementioned parts require registration under Germany's difficult rules for car enhancements.
There are also two roof spoilers in differing designs.
All components are made of Polyurethane ABS - a lightweight but resilient plastic. RDX RaceDesign make the components themselves and offer a 2-year warranty and a 14-day return policy.
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Upcoming Audi A2 to be Electric Vehicle only
http://www.maxauto.co.za/CntView.aspx?CatID=26&CntID=1556
Audi, through its CEO, Rupert Stadler, has already confirmed the probability of a car to slot in between the A3 and the new A1. The Audi A2 will not directly use fossil fuels, according to a report from Autocar. Instead it will be a full electric vehicle that will compete with the upcoming front-wheel-drive BMW Megacity car of 2013 and its Mercedes-Benz equivalent.
Although the previous A2 whose production ended five years ago was of aluminium spaceframe construction, the next version returns to traditional steel due to the relative high cost of aluminium.
In terms of styling, the car is expected to take some of its cues from the predecessor by remaining a tall one-box design with narrow tracks.
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