Daimler Signs A Deal with BAIC US$2.87 billion

The picture may seem familiar: Chinese and German businesspersons on the same table signing some papers, while German Chancellor Dr. Angela Merkel, and Chinese Prime Minister Wen Jiabao, standing behind them with their country flags are floating in the background.
Only this time the Germans are Daimler’s executives, not Volkswagen’s, and the other signatory is BAIC (Beijing Automotive Industry Corporation).
The deal involves Daimler investing $2.87 billion (€2.0 billion) to expand its operations with BAIC, called Joint Venture Beijing Benz Automotive Co, Ltd.
"As early as 2020, at least one in five premium compact cars is expected to be sold in China," Daimler CEO Dieter Zetsche said. So it makes perfect sense for the company to expand its activities in the local market.”
This year, the GLK SUV will be added to Mercedes-Benz’s Chinese range and production of theC-Class and E-Class, which is currently 80,000 units per year, will increase according to demand.
In addition, from 2013 three new (yet unspecified) premium compact cars will be added to the luxury carmaker’s China market range. In the same year, a new engine factory with annual capacity of up to 250,000 units will produce 4-cylinder gasoline engines for the local market and a new R&D center will be established.

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2012 BMW M5

Now that we’ve seen what the new 2012 BMW M5 sports sedan looks like, it’s time for some talented hands to shape the Touring version that may or may not follow in the future as the Bavarian company has not yet revealed any plans for a high-performance station wagon model.
The renderings you see pictured below are the work of photoshop artist Wild Speed who combined the bodies of the F10 5-Series Touring and the new M5 sedan.
If it were to produced, the estate variant would be powered by the same 4.4-liter twin-turbocharged V8 engine with 560-horses found under the hood of the saloon model.

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Ferrari North Europe Brightens the Lives of 50 Children

On Tuesday, July 26, 50 special children will enjoy being driven around the Silverstone circuit in a Ferrari California by professional racing drivers from the British Racing Driver’s Club along with “BRDC SuperStars”, young drivers learning to be the professionals of tomorrow.

Ferrari North Europe organizes the event for the second time in collaboration with the BRDC and two charities, The Variety Club and BEN, to brighten the lives of some disabled, disadvantaged and seriously ill children. During the children’s 15-minute ride in the passenger seat of the California, their families will have access to the BRDC Clubhouse.

Matteo Torre, Ferrari North Europe’s Regional Manager, commented: “It is our honour and privilege to be able to share the excitement of riding in a Ferrari with another group of truly deserving children. Last year’s event was unforgettable, not only for the children but for all those who donated their time and energy. We look forward to create another memorable day”.

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Saab Secures More Funding by Leasing its Property

Another day, another chapter in the ongoing saga that is the survival of Saab. Afteryesterday’s order from a (yet unnamed) Chinese company, which temporarily solved its cash-flow problem, today the automaker announced that it has reached an agreement with a consortium of Swedish real investors led by Hemfosa Fastigheter AB, for the sale of 50.1% of Saab Property for a period of 15 years.

The company’s property consists of 483,000 m2 building space, for which Saab will receive € 28 million, with the consortium reserving the right to purchase, in 30 days after the deal is sealed, more shares for an additional €5 million, bringing the total to € 33 million.

In order for the deal to be completed, the Swedish National Debt Office, which guarantees the €400 million loan from the European Investment Bank, will have to release its pledge in the shares of Saab Property, otherwise the EIB will reduce the loan by €120 million.

Saab continues its efforts to secure additional funding and restart production, since the money it will receive will cover only its short-term needs.

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Nissan Celebrates Production of 1 Million Qashqai Crossovers

Four years, six months and 23 days after the first Qashqai small crossover rolled off the Sunderland Plant’s production line in the UK on December 5, 2006, Nissan has passed the 1 million milestone.The Japanese automaker said the Qashqai is “easily the highest-volume car produced in the UK” adding that no other car in Britain has reached the one million mark in such a short period.
“The Nissan Qashqai has been a phenomenal success since its start of production just four and a half years ago,” said Kevin Fitzpatrick, Nissan Vice President for Manufacturing in the UK.
The company plans to put the landmark vehicle, a silver 2.0-litre diesel TEKNA Qashqai, on display at The O₂ Arena in London and then have one lucky person win the special car. Nissan said it will soon announce further details on the competition.
Currently, around 1,200 examples of the Qashqai are built every day at the plant, or about one every minute that the production line is open, with more than 80 percent of the vehicles destined for export to 97 markets across the world.
The Qashqai is the fourth best-selling model in the C-segment, which includes cars like the VW Golf, Renault Megane and Ford Focus, across Europe in the 2010 Fiscal Year. Its top five markets were the UK, Italy, Germany, Spain and France.

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New Alfa Romeo-Derived / U.S. Made Dodge Compact Sedan to Debut at 2012 Detroit Show

A new U.S. market compact sedan to be developed by Fiat and built by Chrysler is set to make its debut appearance at the 2012 North American International Auto Show in Detroit in the beginning of next year, according to a report from the Wall Street Journal.

The as-of-yet unnamed model will be badged as Dodge and powered by a Fiat-derived 1.4-liter turbocharged gasoline engine. It’ll also do 40 mpg combined, or at least it will if Fiat wants to net itself a further 5% of Chrysler from Mr. MonopolyUncle Sam.

The Italian automaker wants to expand its 46% share in Chrysler & Friends by an additional 7.5% courtesy of the U.S. Treasury and Canadian government on top of the 5% it’s expected to get by pushing the 40 mpg envelope.

The new model will be built in Chrysler’s Belvidere plant in Illinois, which the brand is currently spending US$600 million retooling for the job. Production is expected to start later this year. Dealers, such as David Kelleher of David Dodge Chrysler Jeep of Glen Mills, PA are naturally very excited:

“We have never had a viable compact car. This will allow us to reach the entry level customer and it's a perfect fit for Dodge which has been faced with challenges.” [Like having to share a lot with the Chrysler Sebring, for one…]

The Caliber, the closest thing Dodge currently has to a Honda Civic / Ford Focus / Chevy Cruze competitor at present, does a paltry 24 mpg in automatic guise.

The new model will share the same basic floorplan as the Alfa Romeo Giulietta hatchback, which will also be used to underpin five new models over the next three years.

There’s no word yet on a name, but I’m willing to discount Aires, Neon and Stratus as possible contenders.

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New Jaguar XF 2.2 Diesel Goes from Birmingham to Munich

Jaguar is touting it’s new diesel-powered XF 2.2D saloon as the most fuel-efficient model in its history and to back its claims, the company set out to complete a journey from its factory at Castle Bromwich in Birmingham, UK, to Munich, Germany, on a single tank of fuel.

The British company manages to achieve its goal, with the four-cylinder XF covering a distance of 816 miles or 1,312 kilometers on 64 liters of diesel fuel, which gives an average fuel economy of 57mpg UK, equal to 4.9 lt/100km and 47.5 mpg US.

David Madgwick, an independent tester, accompanied by navigator Alexander Madgwick, drove the vehicle, which left Jaguar’s facilities with a little over 3,000-miles on the clock.

The crew was met in Munich by Chief Programme Engineer for the XF, Andy Whyman, who commented:

“The entire development team is very proud of what the new XF 2.2 has achieved – this not only proves the efficiency of the new model but underlines that performance and economy can be combined,” said Andy Whyman, Chief Programme Engineer for the XF.

The new Jaguar XF 2.2D is powered by an updated version of the Ford-sourced 2.2-liter turbocharged four-cylinder engine found in the Land Rover Freelander and the European-market Ford Mondeo.

It produces 190-horses and 332 lbs ft of torque allowing the XF to accelerate from naught to 62mph (100km/h)in 8.5-seconds before reaching a top speed of 140mph (225 km/h).

The four-pot is connected to a new eight-speed ZF automatic gearbox and, in a first for Jaguar, a Stop-Start system.

It will join the rest of the facelifted XF range in Europe this September.

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New Jeep Grand Cherokee Lands in the UK

Jeep claims that it has created the premium SUV market almost 20 years ago with the first generation of the Grand Cherokee (though Mercedes’ M-Class may actually have a better claim on the word “premium”, but whatever…). We’ve already seen the latest iteration of Jeep’s iconic 4x4, and we must admit that, on paper at least, it looks like a significant leap forward from its predecessors.

This is accomplished by being based on a new (Mercedes M-Class derived) platform which aims for much improved driving characteristics and cabin quality, while retaining the off-road capabilities that it has became famous for.

Now the Grand Cherokee is available in right-hand drive in the UK in two versions, Limited and Overland. Both are powered by a 237-bhp 3.0-litre CRD common-rail turbo diesel which offers improved fuel economy (Jeep claims up to 39/34 mpg (UK/US respectively), or 6,0 liters/100 km and a maximum range of 700 miles (1,125 km) – a sound choice given the oil prices in Europe and its buyers' dislike of fuel-guzzling SUVs.

Pricing for the new Grand Cherokee starts at £36,795 for the Limited edition, while the top-of-the-line Overland starts from £43,995. And then there’s, of course, the options list…

Jeep Grand Cherokee 3.0 CRD Equipment and pricing:

Limited (from £36,795)
Quadra-Trac II® 4WD system
3.0 CRD V6 237bhp
Thatcham Category 1 Alarm and Immobiliser
Selec-Terrain™ system
Bi-Xenon HID headlamps with headlamp washers and auto-levelling
Rain sensitive windscreen wipers
Air-conditioning with dual zone Automatic Temperature Control (ATC)
Media Centre with 6.5'' touch screen display and 30GB hard drive with 6700 song capacity
Keyless Enter-N-Go™
18” Alloy wheels
Fog lamps
Illuminated entry
Hill Descent Control
Hill Start Assist
Bright exhaust tailpipes
Uconnect Bluetooth with voice command
iPod® connector with remote USB port
ParkSense® front and rear park assist system
ParkView® rear back-up camera
Leather trimmed seats
Heated front and rear seats
Power 8-way driver and passenger seat memory
Power tilt / telescopic steering column
Alpine surround sound system (9 speakers and subwoofer)
Tyre pressure monitoring display
Power folding multi-function door mirrors

Limited - Options
Rear DVD with single sunroof
CommandView panoramic sunroof
Performance pack (20" wheels with 265/60 R20 performance tyres, performance brakes and sports suspension)
Navigation & Luxury pack (Uconnect navigation system, heated steering wheel and power liftgate)
Deep-tint sunscreen glass
Overland (from £43,995)
Compared to the Limited, the Overland version adds the following:
20” alloy wheels
Performance brakes with sports suspension
Cargo net
Door courtesy lamps
Premium Nappa leather trimmed seats with contrast stitching
Ventilated front seats
Leather covered dashboard
Dark wood interior trim inserts
Deep-tint sunscreen glass
Power liftgate
Heated steering wheel
Quadra-Lift™ air suspension
CommandView panoramic sunroof
Overland interior detailing
Uconnect navigation system
Blind-spot and rear cross path detection
Adaptive cruise control
Forward collision warning

Optional equipment pricing:
Rear DVD with single sunroof (Limited) £1,700 RRP
Rear DVD with single sunroof retrofit (Overland) £700 RRP
CommandView panoramic sunroof (Limited)£1,200 RRP
Performance pack (Limited) £2,000 RRP
Navigation & Luxury pack (Limited) £1,500 RRP
Deep-tint sunscreen glass (Limited) £350 RRP

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