1966 Chevrolet K20 4x4 Long Bed Step Side on 2040-cars

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Optimus Prime and Bumblebee head for auction

This month at the Barrett-Jackson auction in Scottsdale, AZ, the customized 1992 Peterbilt 379 of Optimus Prime from the Transformers series and director Michael Bay's own 1967 Chevrolet Camaro SS for Bumblebee will cross the block. The company will sell both with no reserve, and they'll come with letters of authenticity. This specific Bumblebee is the mean-looking restomod from Transformers: Age of Extinction, the fourth installment in the franchise, and Bay apparently liked it enough to hang onto the aggressive coupe after filming. He even autographed the car for this sale. The Camaro would make a great star in a Hollywood chase scene with its LS3 V8, six-speed manual gearbox, Wilwood brakes, and custom suspension. Bumblebee also wears a menacing satin black body with yellow accents and custom carbon fiber fender flares. Optimus Prime's Peterbilt appeared on-screen in the first three Transformers films, the auction house's spokesperson Aaron Cook told Autoblog. An Autobot emblem sits proudly on top of the grille, and the truck wears a flame paintjob. Barrett-Jackson's description says that the semi is fully functioning but no longer street legal and is now for display only. It would likely be the ultimate piece in anyone's Transformers collection. CRAIG JACKSON'S BARRETT-JACKSON TEAMS UP WITH MICHAEL BAY, PARAMOUNT PICTURES TO AUCTION ICONIC TRANSFORMERS VEHICLES Paramount Pictures is auctioning Optimus Prime® (Lot #1325.1), the iconic truck featured in the first three Transformers™ films American filmmaker Michael Bay will auction his 1967 Chevrolet Camaro SS (Lot #1325.2), which starred as Bumblebee™in the blockbuster movie, "Transformers: Age of Extinction" SCOTTSDALE, Ariz. – Jan. 4, 2016 – Barrett-Jackson, The World's Greatest Collector Car Auctions®, announced today that Paramount Pictures and American filmmaker Michael Bay will auction two vehicles that starred in the Transformers movie franchise, during the company's nine-day 45th Anniversary Auction, from Jan. 23-31, 2016, at WestWorld of Scottsdale. Up for sale at No Reserve is the iconic truck, Optimus Prime (Lot #1325.1), featured in the first three science fiction action films. Bay has consigned a 1967 Chevrolet Camaro SS (Lot #1325.2), which was cast as Bumblebee in the latest film, "Transformers 4: Age of Extinction." "The hottest Hollywood stars at Barrett-Jackson come in all shapes and sizes," said Craig Jackson, chairman and CEO of Barrett-Jackson.

GM announces $7 billion Michigan factory investment, most going to EVs

GM announced a $7 billion investment in Michigan manufacturing, much of which is earmarked for EV production. Four sites are included, but the key elements are a new battery cell plant in Lansing and the conversion of GM's existing Orion Township facility to expand production of the forthcoming Chevrolet Silverado EV and its GMC Sierra sibling.  GM says it is the largest investment announcement in company history and that it will create 4,000 new jobs. It also says 1,000 jobs will be retained. "We are building on the positive consumer response and reservations for our recent EV launches and debuts, including the GMC Hummer EV, Cadillac Lyriq, Chevrolet Equinox EV and Chevrolet Silverado EV," said GM CEO Mary Barra.  GM says the Orion expansion and new battery plant will support an increase in full-size electric truck production capacity to 600,000 units. This is in addition to the Factory ZERO facility in Detroit that will also be constructing the electric Silverado and Sierra.  The Orion Township factory current builds the Chevrolet Bolt EV and EUV, and will continue to do so during the plant's conversion. GM did not indicate what will happen with the Bolts once that conversion is complete or whether all will continue to be built at Orion. They do not use the Ultium vehicle architecture. GM will build other EV models at three other factories that are under construction or being converted. They are located in Spring Hill, Tennessee, Ingersoll, Ontario, and Ramos Arizpe, Mexico. GM says that it will have the ability to produce 1 million electric vehicles by 2025. The Ultium Cells Lansing facility is a $2.6 billion joint investment by GM and LG Energy Solution. GM says it alone will create 1,700 jobs once fully operational by late 2024. It will join two other GM Ultium Cells battery factories currently under construction in the United States, one in Ohio and the other in Tennessee.  Not all of the $7 billion investment will be for EVs. It also announced $510 million of the total will go toward upgrading the Lansing Delta Township Assembly to produce the next-generation Chevrolet Traverse and Buick Enclave. Money will also go to upgrading Lansing Grand River Assembly.

New auto loans could soon extend out to 84 months

Cars and trucks are more expensive than ever before. In order to boost sales and help consumers afford new vehicles, automakers are offering longer and longer terms for auto loans. This past week, Bloomberg reported that FCA's Ram Trucks division is currently offering the longest loans. Some stretch to 73 months. Jeep, Fiat and Chevy aren't far behind. More noteworthy is that we'll likely soon see lenders moving from 73-month to 84-month loans. That's seven years worth of interest. More than two-thirds of US auto sales come from light trucks like the Ford F-150, Chevy Silverado and Ram 1500. The average transaction price of a new vehicle is well over $30,000. It's not difficult to spec out a heavily-optioned truck up to $60,000. Vehicles depreciate from the moment they roll off a dealer lot, and these six or seven-year loans could hurt consumers and lenders both in the long run. The U.S. Senate voted last week to kill rules that would prevent discriminatory auto lending. These Obama-era guidelines were meant to curtail lenders who offered higher loans based on race, religion, sex or national origin. Related Video: News Source: Bloomberg Chevrolet Fiat RAM Car Buying car loan car values