July 16, 2010

Senate Approves Obama's Financial Overhaul Plan
The Senate approved a sweeping set of financial overhauls Thursday, two years after the mortgage meltdown and a worldwide credit crisis. According to the San Francisco Chronicle, the 60-39 vote ends a year of wrangling. Only three Republicans - Scott Brown of Massachusetts and Susan Collins and Olympia Snowe, both of Maine - voted for the bill, which was strongly backed by the White House and Democratic congressional leaders. The House passed the 2,300-page bill by a 237-192 vote last month, and Obama is expected to quickly sign it into law. The bill creates a bureau within the Federal Reserve to protect consumers in the financial marketplace, establishes a council of regulators to monitor the financial system for major risks, imposes tough regulations on complex financial derivatives, grants shareholders a nonbinding vote on executive compensation, and gives the government authority to seize and dismantle teetering firms whose failure would pose a danger to the economy. Last month, auto dealers successfully gained an exemption from the new agency's oversight. To help pay for the $19 billion cost of the expanded regulation over the next 10 years, the legislation immediately ends any additional expenditures from the controversial $700 billion Troubled Asset Relief Program (TARP). The fund was to expire in October. Click here for the latest on Senate approval of financial overhaul legislation.

Car Makers Push Back Against U.S. Safety Bill
According to the Wall Street Journal, the auto industry pushed back against proposed U.S. vehicle-safety legislation Thursday, urging lawmakers to kill provisions industry officials said would raise car prices and expose companies to more lawsuits. House and Senate bills drafted in response to the Toyota safety recalls would tilt the process of identifying safety defects to one that "will involve more guarded communications and second-guessing by lawyers," according to a letter signed by over a dozen auto industry trade associations, including AIADA. Click here to read the letter. It was sent to Senate Commerce Committee Chairman Jay Rockefeller (D. -W. Va.) and House Commerce Committee Chairman Henry Waxman (D.-Calif.), as well as each panel's ranking Republican and outlines the industry's top concerns, including a $9-per-vehicle fee that would supplement funds at the National Highway Traffic Safety Administration and requirements to make public more vehicle-design information. The trade groups said they are also concerned about raising the cap on civil fines for safety lapses and a provision that would allow consumers to file court appeals to try to overturn decisions by federal vehicle-safety regulators. The safety bills have cleared the House and Senate commerce committees, but haven't faced a full vote by each chamber. The votes are expected as early as this summer. Click here for the latest on the industry's concerns over proposed auto safety legislation.

Subaru, Mazda Enhance Certified Programs
Subaru of America and Mazda North American Operations have enhanced certified used-vehicle programs with incentives for dealers and consumers. Mazda also has extended its certified used-vehicle warranty from 3 months/3,000 miles to 12 months/12,000 miles. Automotive News reports that according to Automotive Lease Guide's projections for July and August 2010, Subaru vehicles are projected to hold 53.2 percent of their sticker prices at the end of 36 months, and 2010 Mazda cars and trucks are projected to hold 53.0 percent at the end of 36 months. The industry average is 45.5 percent. Tom Doll says Subaru has taken a "fresh look" at its certified used-vehicle program. "With the used-car market improving the way it has, it allows us to take a fresh look at certified pre-owned [vehicles] and implement a more effective program," Subaru COO Tom Doll says of the company's program. Mazda sold 530 certified used vehicles in June, a 9 percent increase over June 2009; it sold 2,731 certified units in the first half of 2010, also up 9 percent compared with the first half of 2009. Eric Watson, Mazda manager of remarketing and certified used vehicles, says the enhancements will help dealers sell 12,000 to 15,000 certified used vehicles this year and more than 20,000 annually after that. Click here for more on Subaru and Mazda's improved certified used-vehicle programs.

Motor Trend's Top 10 Launch Control-Equipped Cars
Given its name, launch control is pretty self-explanatory. The basic idea is to help vehicle operators achieve the best acceleration times and diminish the likelihood of a mistake and resulting damage to the vehicle. It's important to note, however, that launching puts enormous stress on the entire powertrain. More specifically, launch control helps to optimize a vehicle's straight line acceleration from a standing stop by utilizing a setup of tiny computers and sensors measuring wheel slip, throttle inputs, brake usage, transmission vitals, engine speed, etc. Each automaker's launch control system operates differently, yet ends up with roughly the same result. For your enjoyment, Motor Trend has collected a list of today's top 10 rides equipped with a launch control-type setup. Click here to check out the list and its extensive analysis of each vehicle. There are seven dual-clutch gearboxes on the list - a testament to the transmission's efficiency and performance benefits. Only two single-clutch automated manuals (both from Audi family products) join the twin-clutches, and a single, regular old-fashion manual slushbox finishes off the list. Click here to read Motor Trend's take on the best launch control-equipped cars.

Cars Drivers Love Best
On Thursday, J.D. Power and Associates released its 2010 Automotive Performance, Execution, and Layout (APEAL) study. More than 76,000 purchasers and lessees of 2010 model-year vehicles responded to the survey between February and May of this year. Click here to see last year's winners. Ford and GM did exceptionally well because over the past few years they have retired models with low appeal, introduced better new models, and improved existing models with upgrades and redesigns. However, according to Forbes, while the domestics had a strong showing overall and in the SUV/pick-up department, internationals continue to rule among premium models, especially among the coupe and sedan segments. Porsche received the highest scores of any brand for the sixth year in a row, while BMW's $33,150 3-Series and $44,550 5-Series each won their respective segments. Mercedes-Benz and Audi each garnered two segment-winners as well, with the $48,050 E-Class coupe and $91,600 S-Class sedan on the car side from Mercedes, and the $37,350 Q5 and $50,900 Q7 SUVs from Audi. Forbes' list includes some of the top cars on J.D. Power's list. Click here to see the list. Click here to read Forbes' full analysis on the winners and losers in J.D. Power's 2010 APEAL study.

Around the Web
Rendered: 2011 Mercedes-Benz C-Class Coupe [MotorAuthority]
Ch-Ch-Changes: 2011 Infiniti Lineup [Kicking Tires]
Jalopnik's 10 Most Essential Car Care Products [Jalopnik]
Long-Term Test: 2009 MINI E [Edmunds Inside Line]