78 Caddy Seville Classic Icon on 2040-cars

Auto blog

Al Capone’s bulletproof 1928 Cadillac Town Sedan is back on the market

It turns out that infamous mob boss Al Capone played an early role in the development of the modern armored executive car, and now there’s another chance to own his bulletproof 1928 Cadillac Town Sedan, which is being offered by Celebrity Cars of Las Vegas for a cool $1 million. It was last seen netting $341,000 at auction by RM SothebyÂ’s in 2012 and does not appear to have undergone significant restoration since then, raising the question of why its value has jumped nearly threefold. Painted green with a black roof, fenders and bumpers, the car is said to be the earliest surviving bulletproof vehicle, with nearly inch-thick glass and once lined (but no longer; read on) with nearly 3,000 pounds of asbestos-wrapped steel armor plating. It features a rear window rigged to drop quickly, so the tough guys in the rear seats could fire on any pursuers. Heavy spring lifts operated the side windows, which were also rigged to raise higher than usual to reveal a circular cutout big enough for the muzzle of a machine gun. In this case, the factory specs may be the least interesting part of the car, though it is undeniably a looker. It features a Series 341-A, 90-bhp, 341 cubic-inch L-head V8 engine mated to a three-speed manual, with a beam front axle and full-floating rear axle with semi-elliptical leaf springs and four-wheel mechanical drum brakes. It has only 1,111 miles on the odometer, having spent much of its history in museums or on display at carnivals and amusement parks. ItÂ’s believed to have flown under the fedsÂ’ radar in a Chicago garage owned by Emil Denemark, a known mafia associate and South Side Cadillac dealer who was related to Capone by marriage, when the mob boss began his slide into legal troubles leading up to his eventual felony conviction and jail time. In 2008, an elderly man named Richard “Cappy” Capstran told a friend that he had once helped his father install armor plating on a Cadillac owned by Al Capone. His father, Ernest Capstran, had repaired another of CaponeÂ’s vehicles and earned the mobsterÂ’s business fortifying the brand-new Cadillac. “My dad said, ‘We donÂ’t do that kind of work here.Â’ And they (CaponeÂ’s men) said, ‘You do now,’” Richard Capstran recalled in a recorded interview, per SothebyÂ’s. CaponeÂ’s associates reportedly also backed the car into the shop so no one could see what kind of work was being done to it.

General Motors posts record earnings, but global sales fall

General Motors started the year with record success. The automaker's $2.7 billion in adjusted earnings before interest and taxes was its highest ever in in the first quarter of 2016, up from $2.1 billion in from the same time period a year earlier. Net income grew to $1.95 billion, which was more than double the $953 million in the same period last year. The company's figures also beat analysts' predictions, according to the Detroit Free Press. Despite the financial growth, global sales actually decreased by 2.5 percent to 2.36 million vehicles. "We're growing where it counts, gaining retail share in the US, outpacing the industry in Europe and capitalizing on robust growth in SUV and luxury segments in China," CEO Mary Barra said in the company's financial announcement. GM did well in North America with an adjusted EBIT of $2.3 billion, up from $2.2 billion last year. Sales in the region also grew 1.2 percent to 800,000 vehicles. According to The Detroit Free Press, the company has been especially successful at selling more expensive models in the US. The company's average vehicle was $34,600 in Q1, about $3,000 more than the industry average. Elsewhere in the world, GM also showed improvement. Europe practically broke even after losing about $200 million last year, and Opel and Vauxhall sales grew 8.4 percent to more than 300,000 vehicles for the quarter. South America only lost $100 million, which was half as much as Q1 2015's $200 million loss. China remained flat at $500 million of income. Cadillac volume jumped 6.1 percent there, and Buick's deliveries increased 22 percent, thanks to the Envision crossover's success. GM Reports First-Quarter Net Income of $2.0 Billion 2016-04-21 EPS diluted of $1.24; First-quarter record EPS diluted-adjusted of $1.26 First-quarter record EBIT-adjusted of $2.7 billion GM Europe posts break-even performance DETROIT – General Motors Co. (NYSE: GM) today announced first-quarter net income to common stockholders of $2.0 billion or $1.24 per diluted share, compared to $0.9 billion or $0.56 per diluted share a year ago. Earnings per share diluted-adjusted for special items was a first-quarter record at $1.26, up 47 percent compared to the first quarter of 2015. The company set first-quarter records for earnings and margin, with earnings before interest and tax (EBIT) adjusted of $2.7 billion and EBIT-adjusted margin of 7.1 percent.

GM to cut production at 5 plants in North America, kill several models

DETROIT/WASHINGTON — General Motors Co said on Monday it will cut production of slow-selling models and slash its North American workforce in the face of a stagnant market for traditional gas-powered sedans, shifting more investment to electric and autonomous vehicles. The announcement is the biggest restructuring in North America for the U.S. No. 1 carmaker since its bankruptcy a decade ago. GM said it will take pre-tax charges of $3 billion to $3.8 billion to pay for the cutbacks, but expects the actions to improve annual free cash flow by $6 billion by the end of 2020. GM plans to halt production next year at three assembly plants: Lordstown, Ohio, Hamtramck, Michigan, and Oshawa, Ontario. The company also plans to stop building several models now assembled at those plants, including the Chevrolet Cruze, the Cadillac CT6 and the Buick LaCrosse, the sources said. Sources said the Chevrolet Volt, Impala and Cadillac XTS would also be discontinued. Signs of the demise of six passenger-car models have been swirling since July. Plants in Baltimore, Maryland, and Warren, Michigan, that assemble powertrain components have no products assigned to them after 2019 and thus are at risk of closure, the company said. It will also close two factories outside North America, but did not identify those plants. The AP reported that 14,700 jobs would be affected. Some 8,100 of those would be white-collar jobs reduced through buyouts or layoffs. The No. 1 U.S. automaker signaled the latest belt-tightening in late October when it offered buyouts to 50,000 salaried employees in North America. The company also said it will cut executive ranks by 25 per cent to "streamline decision making." Some 6,000 factory workers could lose their jobs or be transferred to other plants. Its shares were last up 6.2 percent at $38.16. Tariff 'headwinds' and cost-cutting GM Chief Executive Officer Mary Barra told reporters on Monday the company can reduce annual capital spending by $1.5 billion and increase investment in electric and autonomous vehicles and connected vehicle technology because it has largely completed investing in new generations of trucks and sport utility vehicles. Some 75 percent of its global sales will come from just five vehicle architectures by early in the 2020s. It plans to reduce annual capital spending to $7 billion by 2020 from an average of $8.5 billion a year during the 2017-2019 period.