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Auto investor Kirk Kerkorian dead at 98

Kirk Kerkorian, among the most talked-about investors in the American auto industry in recent memory, died at the age of 98 in Los Angeles on Monday, June 15. The billionaire ran the investment company Tracinda Corp. and was the largest shareholder in MGM Resorts International. Kerkorian attempted to use his power as a well-financed investor to push the auto industry in some fascinating ways. In 2006, he used his nearly 10-percent stake in General Motors to push a merger with the Renault-Nissan Alliance. The deal made it as far as discussions, but eventually fell through. Kerkorian also attempted to purchase Chrysler - twice. According to Automotive News, the first effort came in 1995 with a $22.8-billion offer for the automaker, and soon after it failed the company merged with Daimler. Then in 2007, Kerkorian was back with a bid for $4.5 billion, but things eventually fell to Cerberus. The billionaire finished the trifecta by buying up $1 billion in Ford stock in 2008 to make Kerkorian the single largest investor in the company. However, the situation didn't last long, and by the end of that year, he had unloaded the shares. According to Automotive News, Kerkorian was ranked by Forbes as the world's 41st richest man in 2008 with a net worth of $16 billion. News Source: Automotive News - sub. req.Image Credit: Joe Cavaretta / AP Photo Celebrities Earnings/Financials Chrysler Ford GM obituary

Ford wants to double hybrid offerings by 2020

The Blue Oval is looking for folks on the other side of this Big Old Sphere to get on board with its hybrid offerings. Ford executive Raj Nair, speaking at the Detroit Auto Show this week, said the US automaker wants to double the number of hybrids models it offers by the end of the decade, Reuters reports. Details of what that actually means is anyone's guess, as it was unclear how many of those models would be in the US and how many would be overseas. That said, Nair did say that prospective customers in regions such as China and Europe would drive the expansion of offerings. Ford got off to a great start in the US last year on its hybrid sales, but then tailed off towards the end of 2013. Ford more than doubled its green-car sales in 2013 to almost 88,000 units. In that number were more than 37,000 Fusion Hybrids and more than 28,000 C-Max Hybrids sold domestically. The company also sold almost 7,500 Lincoln MKZ Hybrids. Ford's green-car totals for 2013 were up fivefold at the mid-year point, hinting that Ford's hybrid sales plateaued, at least temporarily, in recent months.

2016 Ford Shelby Mustang GT350R First Ride

Ford Performance Chief Engineer Jamal Hameedi was in China when he received an interesting text. Half a world away his team was shaking down the newest Shelby Mustang at Grattan Raceway in rural Michigan. The news was encouraging. The GT350R was keeping pace with a Porsche 911 GT3, even nosing ahead of it during time trials, while the GT350 was running about even with a 911 Carrera S and a Chevy Corvette Stingray. "That was a good text to get," he recounted a week later as we chatted alongside the track at Grattan. On this scorching summer day, there were no Porsches or Stingrays to be found, but we've come to preview the track-focused GT350R. Ford drivers are at the wheel, and we're riding shotgun. After several hot laps, we're left with a predictable observation: The GT350R is wicked fast and quick as hell. Much of this is thanks to the 5.2-liter flat-plane crank V8 that pumps out 526 horsepower and 429 pound-feet of torque. It's the most powerful naturally aspirated road-legal engine in Ford's 112-year history. To help the engineering process, Ford bought a Ferrari 458 Italia and ripped apart its V8. The GT350's engine ended up being 10 pounds lighter. For the coup d'grace, Ford's mill also revs to a Ferrari-like 8,250 rpm. As formidable as all of that looks on paper, it sounds even more imposing in real life (see the related video below). The engine in our GT350R crackles, growls, and opens up to a flat-out roar as we explode onto the track, gripping the door pulls to calm our nerves. Grattan is a challenging, twisty course. The corners are tight, and the elevation changes quickly. At one point, our test driver aggressively tackles a curve and we're briefly airborne. During the first stint, we reach about 140 miles per hour. But the GT350R isn't about straight-line speed or pure power. It's designed to get around a track as rapidly as possible. That means Ford took the 'base' GT350 – which should be more than at home on the track itself – and re-tuned the suspension and aerodynamics. There's a larger front splitter and rear carbon-fiber spoiler. The 19-inch carbon-fiber wheels are stiffer and lighter than comparable aluminum rollers, and they're wrapped in Michelin Pilot Sport Cup 2 high performance rubber. Additionally, Ford ripped out the back seats, air conditioning, trunk floorboard, stereo, backup camera, and anything else that wasn't necessary.