2013 Chrysler 200 Touring on 2040-cars

Auto blog

2017 Chevy Camaro Z/28 Nurburgring crash caught on video

A 2017 Chevy Camaro Z/28 prototype crashed Thursday morning during testing on the Nurburgring in Germany. The driver appears to be unharmed, and the Camaro was not severely damaged. You can see the crash happen near the 1:35 mark of the video. Everything is going fine as the camo-clad Camaro accelerates onto the 'Ring. But as the driver goes through a turn the back wheels lock up. The driver then nails the brakes, the front wheels lock up, and he careens into the rail, getting airborne in the process briefly. The driver then navigates the Camaro to the other side of the circuit. A crumpled front fender and maimed aero is the only damage. View 11 Photos Mishap aside, this is an excellent look at what we believe is the track-focused Camaro Z/28. We see the huge wing in back and smaller winglets in front reminiscent of the Corvette Z06's Z07 Performance Pack. The new Z/28 has a throaty, almost buzzy V8 sound. We predict the seven-speed manual transmission from the Corvette, and perhaps the new 10-speed automatic trans from the Camaro ZL1, will be available. This prototype has a huge, gaping grille, blacked out wheels, and an aggressive front splitter. Look for the Z/28 to go on sale next year. A General Motors spokesperson said the company doesn't comment on development testing, but noted that "safety is our overriding priority." Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Brian Williams / SpiedBilde Spy Photos Chrysler Coupe Performance Videos viral video chevy camaro z28

Fiat and UAW back at negotiating table over Chrysler stake

We knew there'd be no Chrysler IPO before the end of this year, but Fiat is determined to get the best run going into 2014 and is back at the poker table with the UAW. The delay was said to be Chrysler's desire to clean up a tax issue with the IRS; turns out that also bought the carmaker time to try and close a deal for the UAW's 48.5-percent stake in the company before the IPO happens.
Whereas the price Chrysler was willing to pay was once more than $1 billion under the UAW's asking price, the gap has closed to just $800 million of late. A recent valuation of the company at $10 billion - a valuation the UAW has disputed - means Fiat would be looking to pay about $4.2 billion instead of the $5 billion that the UAW seeks. But the UAW needs to hold out for the highest amount it can get because its pension obligations through the Voluntary Employee Benefit Association (VEBA) are $3.1 billion greater than the VEBA's assets, which include the Chrysler stake.
There's a clause in the agreement that Fiat can buy the VEBA shares for $6 billion, but Fiat CEO Sergio Marchionne has said that the UAW "should buy a ticket for the lottery" if they even want $5 billion. The UAW, though, has more time to wait; it's Fiat that wants access to Chrysler's $11.9-billion war chest and that would like to avoid the risk of paying the full $6 billion for the UAW share if the float really takes off. With other valuations of Chrysler as high as $19 billion, a hot IPO could make that $6 billion look like a bargain.

Federal judge orders Barra and Manley to try to resolve GM racketeering lawsuit

DETROIT — A federal judge in Detroit on Tuesday ordered the chief executives of automakers General Motors and Fiat Chrysler Automobiles to meet by July 1 to try to resolve GM's racketeering lawsuit. U.S. District Court Judge Paul Borman called on GM CEO Mary Barra and FCA CEO Mike Manley to meet in person to try to resolve a case that could drag on for years. "What a waste of time and resources now and for the years to come in this mega-litigation if these automotive leaders and their large teams of lawyers are required to focus significant time-consuming efforts to pursue this nuclear-option lawsuit if it goes forward," Borman said at the end of a hearing during which FCA asked the judge to dismiss GM's lawsuit. Borman said instead, the companies need to focus on building cars and keeping people employed at a time when the coronavirus has hurt the U.S. economy and the country is also dealing with issues of racial injustice after the death of George Floyd, a Black man whose death in police custody in Minneapolis triggered worldwide protests. GM filed the racketeering lawsuit against FCA last November, alleging its rival bribed United Auto Workers (UAW) union officials over many years to corrupt the bargaining process and gain advantages, costing GM billions of dollars. GM is seeking "substantial damages" that one analyst said could total at least $6 billion. Barra and Manley should meet, taking into account social distancing to keep them safe, to "explore and indeed reach a sensible resolution," Borman said in the hearing, which was broadcast online. It is common for judges to order parties to try to resolve disputes out of court. But it is unusual that the chief executives of two big companies be instructed to meet face-to-face, not just to settle their differences but also to serve a greater good. A GM spokesman said the No. 1 U.S. automaker has a strong case and "we look forward to constructive dialogue with FCA consistent with the courtÂ’s order.” FCA had no immediate comment. Borman said he wanted to hear from Barra and Manley personally at noon on July 1 to provide him with results from their discussion. FCA shares were up 6.1% at $10.24 in New York and GM shares were down 0.5% at $26.25 on Tuesday afternoon. Government/Legal Chrysler Fiat GM