July 28, 2010

Hyundai's Equus Loaded for U.S.
According to The Detroit News, Hyundai Motor Co. will offer two versions of its Equus full-size luxury sedan when it brings it to the United States this year: the Equus Signature and the Equus Ultimate. The Equus is expected to start in the low $60,000s, just below the leaders in the segment, the Lexus LS, Mercedes-Benz S-Class, and BMW 7 Series. The Equus has been part of the South Korean automaker's domestic lineup for years. In recent years, Hyundai has expanded its U.S. lineup to include near-premium Hyundai Azera and Genesis cars. The Equus Signature features a 385-horsepower V8 engine, an audio system with 17 speakers, electronically controlled air suspension with continuous damping control, a front- and rear-parking assistance system with rearview camera, driver seat massage, heated and cooled front seats, and a heated wood and leather steering wheel. The Equus Ultimate additionally features reclining rear seats with powered headrests, cooled rear seats, rear seat massage and leg support, and a rear seat refrigerator. Click here for official photos of the 2011 Equus at Car and Driver. Hyundai will provide the industry's first at-home vehicle demonstration program, a Valet Service program offering at-home pickup for Equus service and maintenance, and an iPad-based interactive owner's manual. Click here for more on Hyundai's plans when its Equus luxury sedan hits U.S. shores.

July Car Sales Head for Strongest Month Since '09 Clunkers Program
Sales of cars and trucks in July are on track to reach their best pace since last August when vehicle sales were boosted by the federal government's Cash for Clunkers incentive program. According to the Detroit Free Press, dealers and analysts say consumers appear to be returning to dealerships even though overall economic trends remain mixed and manufacturers only modestly increased incentives. "Business is up," said Jack Fitzgerald, AIADA board member and owner of Fitzgerald Auto Malls in Kensington, Md. He said sales increased at most of his 27 dealerships in July, including both domestic and international brands. In July, the seasonally adjusted annual rate is estimated to be 11.8 million, according to vehicle pricing Web site TrueCar.com, and 12.2 million according J.D. Power and Associates. Those estimates would make July the strongest selling month since last August when government incentives boosted the selling rate to 14.9 million. The seasonally adjusted annual sales rate indicates what sales would total for the year if demand remained constant over 12 months, adjusting for seasonal factors. It's an easy way to reference month-to-month performance. Automakers will report July sales figures next week. Stay tuned to FirstUp for AIADA's Market Watch report of U.S. sales figures for the international auto industry. Click here for more from the Detroit Free Press on analyst predictions for July sales.

GM, Nissan Compete for Best Electric Car Deal
A decade ago, electric cars were expensive vehicles for gadget lovers and celebrities. Now, MSNBC reports Nissan and General Motors are competing to sell an affordable electric car to middle-class America. The contest escalated when GM announced it would start the Chevrolet Volt at $41,000. While it costs $8,000 more than the base price of Nissan's Leaf, GM is matching the $349-per-month lease that Nissan is offering. Nissan countered by matching the Volt's eight-year, 100,000-mile battery warranty. A $350 lease is affordable, especially when not paying for gas, said Jesse Toprak, VP of industry trends at TrueCar.com. It would cost $1.50 worth of electricity to recharge the Volt each night. Both cars are eligible for a federal tax credit that will cut their prices by $7,500. Some states offer additional tax breaks that will lower the price further. The federal government will phase out the credits when each manufacturer sells 200,000 electric cars. GM expects to sell 10,000 Volts in the first year and Nissan said it already has 17,000 orders for the Leaf. To learn more about the Nissan Leaf, click here. For more on the price war heating up between the two vehicles, click here.

Chrysler's Arbitration Tally: 73 Wins, 32 Losses
Automotive News reports that Chrysler Group prevailed in 70 percent of its 105 arbitration cases with rejected dealerships. Arbitrators sided with the company 73 times and with dealerships 32 times. Chrysler rejected 789 dealerships in bankruptcy last year. Many arbitrators that ruled for Chrysler deferred to the company's Genesis strategy of consolidating all four of its brands - Chrysler, Dodge, Jeep, and Ram - in each dealership. But the size and speed of Chrysler's cuts were called into question last week in an audit by the inspector general for the U.S. Troubled Asset Relief Program. Some lawyers representing dealers said many more dealers would have prevailed in arbitration if inspector general Neil Barofsky's audit had been released while arbitration cases were still going on rather than after the process was completed. General Motors is likely to release its final arbitration tally sometime next week. The arbitration hearings for rejected Chrysler and GM dealerships extended from mid-April to mid-July. They were required by a law passed by Congress last December. While Chrysler's arbitration decisions are final, the number of dealerships that have signed letters of intent with conditions for their reinstatement is not. A total of 29 rejected Chrysler dealers have signed letters of intent thus far, the company said. Two dealerships have filed lawsuits thus far challenging the letters of intent they received from Chrysler. For more on GM and Chrysler arbitration hearings, click here.

AutoWeek's List of Mid-Engine Wonders
Stepping up to a mid-engine car is like going from Triple-A ball to the majors. There's plenty of skill in Triple-A, and you can go a whole lifetime in it and be happy. But nothing really compares with the big leagues. The names of mid-engine cars read like a who's who list of motorsports champions - McLaren, Porsche, Ferrari. There are others with less pricey sounding names - Pontiac, Acura, Toyota. But all of them come with a near-perfect weight ratio and a good story. AutoWeek has compiled its list of favorite mid-engine vehicles. Click here to check out the list and accompanying photos. It includes the Acura NSX, which was the first production car to feature an all-aluminum chassis, suspension, and body. The Toyota MR2 was a two-seat, mid-engine wonder built in between 1984 and 2007. The last generation housed a 1.8-liter DOHC I4 engine making 138 hp. Also on the list: the Ferrari Dino 206 GT. Named after the late Dino Ferrari, it was the first time Ferrari used a mid-engine configuration on a road-going car. The Audi R8 earned a spot on AutoWeek's list. Before the R8, Audi's supercar stable was bare. The mid-mounted 4.2-liter in the first R8 made 420 horses. Click here for the complete list of AutoWeek's favorite mid-engine cars.

Around the Web
Spy Shots: 2012 BMW 1-Series Hatchback [TheCarConnection]
Ice Cream Trucks Go to the Dogs in Great Britain [Autoblog]
Kia Launches $10,000 YouTube Talent Search [Edmunds Inside Line]
June's Top 15 Best Selling Crossovers [AOL Autos]