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Six arrested from chop shop linked to Dream Cruise thefts

The spirit of this year's Woodward Dream Cruise was dampened after a rash of car thefts were reported. The vehicles included a 1966 Chrysler 300 Deluxe, a 1966 Chevrolet Corvette, and a replica of the 1971 Chevrolet Camaro owned by the founder of Papa John's Pizza. While these thefts outraged the collector car community, that same tight-knit group is now breathing a sigh of relief, as those responsible are behind bars. Detroit Police arrested six people – three adults and three teens – on Thursday, September 17, in connection with a chop shop operation linked to the collector car thefts. According to The Detroit News, one suspect is still at large. There's concern among Dearborn police that the same group responsible for the Dream Cruise thefts boosted some vehicles from a Ford factory. While the Camaro was recovered mostly whole and found in a giant bush on Detroit's west side, the fate of the Corvette or Chrysler has not been made known. Here's hoping these classic cars make it back into their rightful owner's garages soon. News Source: The Detroit NewsImage Credit: Jerry S. Mendoza / AP Government/Legal Chrysler Classics

GM, Ford, Honda winners in 'Car Wars' study as industry growth continues

General Motors' plans to aggressively refresh its product lineup will pay off in the next four years with strong market share and sales, according to an influential report released Tuesday. Ford, Honda, and FCA are all poised to show similar gains as the auto industry is expected to remain healthy through the rest of the decade. The Bank of America Merrill Lynch study, called Car Wars, analyzes automakers' future product plans for the next four model years. By 2020, 88 percent of GM's sales will come from newly launched products, which puts it slightly ahead of Ford's 86-percent estimate. Honda (85 percent) and FCA (84 percent) follow. The industry average is 81 percent. Toyota checks in just below the industry average at 79 percent, with Nissan trailing at 76 percent. Car Wars' premise is: automakers that continually launch new products are in a better position to grow sales and market share, while companies that roll out lightly updated models are vulnerable to shifting consumer tastes. Though Detroit and Honda grade out well in the study, many major automakers are clumped together, which means large market-share swings are less likely in the coming years. Bank of America Merrill Lynch predicts the industry will top out with 20 million sales in 2018 and then taper off, perhaps as much as 30 percent by 2026. Not surprisingly, trucks, sport utility vehicles and crossovers will be the key battlefield in the next few years, Car Wars says. FCA will launch a critical salvo in 2018 with a new Ram 1500, followed by new generations of the Chevy Silverado and GMC Sierra in 2019, and then Ford's F-150 for 2020, according to the study. Bank of America Merrill Lynch analyst John Murphy said the GM trucks could be pulled ahead even earlier to 2018, prompting Ford to respond. "This focus on crossovers and trucks is a great thing for the industry," Murphy said. Cars Wars looks at Korean (76 percent replacement rate) and European companies more vaguely (70 percent), but argues their slower product cadence and lineups with fewer trucks puts them in weaker positions than their competitors through 2020. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2016 Chevrolet Silverado View 11 Photos Image Credit: Chevrolet Earnings/Financials Chrysler Fiat Ford GM Honda Nissan Toyota study FCA

Lee Iacocca’s 10,000-square-foot Bel Air mansion hits the market

We’ve seen the auctioning off of much of the estate of the late, famed auto executive and former Chrysler CEO Lee Iacocca, who died last year at age 94, including his 1992 Dodge Viper and wood-sided 1986 Chrysler LeBaron Town & Country Convertible. Now comes his former Southern California mansion, which has hit the market for a cool $26.9 million. The Tuscan-style mansion in the tony Bel Air section of Los Angeles is where Iacocca lived following his retirement from Chrysler and the automotive industry in 1992. According to the website TopTenRealEstateDeals.com, itÂ’s a 10,682 square-foot, five-bedroom, eight-bath palace on 1 acre near the Bel Air Country Club. It comes with four ensuite guest rooms, a separate staff apartment, formal living and dining rooms, a wood-paneled library and five (!) fireplaces. High ceilings, chandeliers and expensive wood trim and moulding work abound. ItÂ’s also tailor-made for entertaining, with big open-plan rooms opening to landscaped terraces, a chefÂ’s kitchen, a swimming pool, spa and tennis courts. And in fact, Iacocca was said to have entertained the likes of Bob and Delores Hope, Frank and Barbara Sinatra, Priscilla Presley and Betty White. Oddly, considering Iacocca was one of the first celebrity auto execs, thereÂ’s no information about the estateÂ’s garage; Autoblog has inquired about that with the listing agents and will update this if we hear back. In the overhead view in the gallery above, the driveway leads to the large wing on the left side of the house, so the garage is potentially pretty big, but it's hard to say what else might share space under that roof. Aside from his work developing the iconic Ford Mustang in the 1960s, Iacocca is perhaps best known to generations of Americans for his role rescuing Chrysler from collapse. He did so by securing a $1.2 billion federal loan from Congress, restructuring the company by cutting wages and closing plants introducing popular fuel-efficient cars like the K Car and introducing the minivan. After his retirement in 1992, Iacocca invested in casinos and a line of imported olive oil, and he was a member of several corporate boards.   Featured Gallery Lee Iacocca's Bel Air mansion View 11 Photos Celebrities Chrysler