Senator: GM Repaid Federal Loans With Federal Funds

Ed Whitacre may be really happy about General Motors paying off its federal loans ahead of schedule, but Iowa Senator Charles Grassley (can we call him 5.6 Billion Buck Chuck?) is not impressed.

The senior Republican on the Senate Finance Committee is calling BS on GM...alleging a shell game in which GM used TARP funds instead of its own earnings to pay back Uncle Sam.

GM and the Treasury Department are denying it. Full story at Automotive News. 

In fact, Whitacre says when it's all said and done, the US will get back its entire $50 billion investment in GM and may even make a profit. Details at The Detroit Free Press.

Fiat By Chrysler, Chrysler By Fiat

The five-year plan is coming into clearer focus and it looks....confusing.

Fiat's going to build a mid-size sedan in Italy. It will be sold mainly in America, replacing the Sebring. They'll also build a new compact Chrysler for the USA over there.

Meantime, Chrysler might build not one, but two SUVs for Alfa Romeo on American soil.

Automotive News (free registration required) has the game plan.

Alfa Comes Back To The USA

Alfistis rejoice! After a decades-long absence, Alfa Romeo is coming back to America, thanks to the Fiat/Chrysler deal.

The product hits showrooms in 2012 and there's a lot of platform sharing with Chrysler.

Full details from Automotive News (free registration required).

Toyota Recalls 870,000 Sienna Minivans Spanning 13 Model Years

The recall is in effect in 20 states and Canada. The problem is corrosion of cables that hold the spare tire in place...likely from road salt.

Full story from Automotive News (free registration required).

Toyota Testing ALL Its SUVs Stability

Toyota's moving quickly to end the panic in some circles over Consumer Reports' labelling of the Lexus GX 460 as a safety risk.  

The automaker says it is testing the stability of all its SUVs, both Lexus and Toyota brands. CR says the GX 460 can get sideways in an emergency maneuver before the electronic stability control intervenes. Toyota says it has had no customer complaints about the issue.

Full details from Automotive News (free registration required).

Infiniti G37 To Get Mercedes Engine

TireKicker regulars know we love us some Infiniti G37. Now , the Renault-Nissan-Daimler alliance may mean Mercedes-Benz power under the hood...an inline four to help with economy and emissions. 

Full story at Automotive News. 

Hummer History: The Wind-Down Begins

It's the end of the trail...or maybe the Starbucks' parking lot...for Hummer. After a couple of brief blips on the EKG, General Motors is saying there's no future and has begun the official wind-down.

Full story from Automotive News.

Toyota: 0% Interest, Free Maintenance Extended Another Month

What'll it take to get you to buy this car today?

Zero percent financing?  Check.

Discount lease rates? Check.

Free maintenance? Check.

Toyota may have its share of troubles, but it knows what consumer buttons to push in an iffy economy.

Full details from Automotive News.

Mercedes-Benz S-Class To Go All-Hybrid?

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Mercedes-Benz, whose parent company is already considering a technology and stock deal with Renault-Nissan to meet European emissions standards, is also under the gun on upcoming fuel economy requirements.

One idea is to make all flagship S-Class models, including the high-performance AMG models, hybrid-only, beginning with the next generation which hits Europe in 2013 and the U.S. in 2014.

But Automotive News says Mercedes-Benz dealers in the U.S. aren't happy with that idea at all.

Renault, Daimler Alliance Moving Forward

The boards of the two automakers are going over the details of a plan to share technology as well as stakes in each other's companies. Net result: A family relationship between Renault, Nissan, Mercedes-Benz and smart.

What's driving the deal? Automotive News says it's European exhaust-emission standards for 2012.

2011 Jeep Grand Cherokee: Build In May, Sell In July

The product drought is coming to an end for Chrysler-Dodge-Jeep dealers. The 2011 Grand Cherokee begins production in May and should begin arriving in showrooms by July.

Full story from Automotive News.

2011 Nissan Juke

The smaller-than-a-Rogue Nissan Juke crossover got its official auto show introduction in Geneva a few weeks ago, but Nissan put on on display in New York Tuesday night ahead of the Wednesday opening of the New York International Auto Show.

Automotive News was there.

Carbon Motors: All We Need Is Cash

A week ago, BMW was telling us that it had landed a big deal with Carbon Motors to supply its purpose-built police cruiser, the E7, with six-cylinder diesel engines.

Today, Carbon Motors says it's all good...if the U.S. government loans it $310 million.

Story from Automotive News here.

China's Geely To "Liberate" Volvo

It's a done deal. Volvo is now the property of Chinese automaker Geely, whose founder says Volvo is a "tiger" that needs to be "liberated".

Part of that "liberation" is wider distribution, and the production of 300,000 units a year in a Chinese factory.

Full story from Automotive News.

UPDATE: Daimler AG To Pay $185 Million To Settle Bribery Charges

Well, that didn't take long. Less than 24 hours after word that the United States Department of Justice had filed bribery charges against Daimler AG, the makers of Mercedes-Benz, comes news that Daimler will settle with the feds by paying $185 million.

Full story from Automotive News.

Consultants Say Toyota's Looking In The Wrong Places For Electronic Interference

Three British consultants meeting with U.S. investigators tomorrow say Toyota's never found evidence of electronic interference in acceleration because they don't know where to look and it's very difficult to detect.

Full story from Automotive News.

Bribery Charges Filed Against Daimler AG

 

The United States Justice Department has filed charges against Daimler AG, maker of Mercedes-Benz automobiles, alleging a "long-standing practice of paying bribes to foreign officials."

The feds say at least 22 countries were involved over a ten-year span and hundreds of payments to foreign officials worth tens of millions of dollars.

Full story from Reuters at Automotive News.

80% Of BMW 1-Series Owners Think It's Front-Wheel Drive (Note to 1-Series Owners: It's Not)

The word last week that BMW's future would include front-wheel drive vehicles induced near apoplexy in the automotive journalist community. "Is nothing sacred?", they cried.

Well, there are drivers and there are operators of motor vehicles and the truth is that even enthusiast brands have far more of the latter than the former for customers.

Proof of that...Automotive News Europe reports that an internal BMW survey finds 8 out of 10 1-Series owners think they bought a front-wheel drive car.

Good News For The Dealer Dudes

One minute you're an outcast, the next, you're Mark Reuss' BFF.

Automotive News reports the GM North America president has been letting reinstated GM dealerships know by Facebook...using phrases like "Trust me dude you guys are in!"

Full story here.

Toyota Recall: Attorneys Add Racketeering Claims To Lawsuits

Customers alleging the Toyota recalls have cost them in terms of resale value have now filed more than 80 lawsuits in 40 states.

Automotive News says some of those suits are being amended to include racketeering claims against Toyota, which could triple the damages if Toyota loses the suits. Full story from Automotive News (free registration required).