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Jay Leno parades around in '52 Chrysler Imperial

Jay Leno is not known as a quiet man. He's a comic, after all. So how do you think it'll go when he's given an enormous, Chrysler Imperial parade car, complete with two meaty public-address speakers on the front bumper? Exactly. In an amusing start to the latest episode of Jay Leno's Garage, we see the eponymous star of the web series addressing the citizens of Burbank, CA from the big, comfy seat of a 1952 Chrysler Imperial Dual-Cowl Phaeton. One of just three produced by Chrysler at a price of about $33,000 a pop – a whopping $296,000 in today's dollars – this particular example is owned and still used by the city of Los Angeles. Its most famous passengers include President Dwight D. Eisenhower and then-Vice President Richard Nixon. Underhood, there's a 331-cubic-inch Hemi V8 that's been mated to a two-speed PowerFlite automatic. As for the exterior, while it may look like a 1956 Imperial, it did originally roll out of the factory in 1952. According to the LA city officials that accompanied the car, Chrysler called the three sedans back in 1955 and refitted them to fit in with the latest Imperial models. At 21.5 feet long, even in today's world of big pickups and SUVs, this particular example occupies a big space on the road. Surprisingly, it's still driven regularly, taking part in parades and celebrations across the City of Angels. You can check it out both in Jay's garage and on the streets of Los Angeles in the video above.

Treasury says auto bailout tally drops to $20.3 billion

In December, the US Treasury announced that it was going to sell all of its shares in General Motors within 12 to 15 months. The first tranche of the 500-million total shares was purchased by GM, which took 200 million of them at $27.50 per share. That price represents an eight-percent premium over the market price at the time. The remaining 300 million shares will be sold "through various means in an orderly fashion."
Of the $418 billion disbursed through the Troubled Asset Relief Program (TARP), a report in Automotive News indicates that "about 93 percent" has been paid back, and the latest figures put Treasury's loss from the program overall at $55.58 billion. That's a $4.1 billion improvement on the last figure, when the expected red ink added up to $59.68 billion. The auto industry's portion of that loss is estimated to be $20.3 billion, a 16-percent drop from the earlier estimate of $24.3 billion.
The Treasury now owns 19 percent of GM, but if all goes well, there will be no more cause for anyone to utter "Government Motors" by the end of Q1 next year. A loss of some kind is still expected, however. Although GM's stock price is close to $29 at the time of this writing, that's still $4 below its IPO price and well below the $72 share price necessary for the government to come out even on its GM investment. On second thought, maybe the ribbing will continue.

What's the right car for the 'Planes, Trains, and Automobiles' remake?

As the Thanksgiving holiday approaches so, too, does the season in which many Americans will rewatch that holiday classic, "Planes, Trains, and Automobiles." The Steve Martin and John Candy movie is a staple of holiday-season viewing. Soon, however, it will be joined by a new version. Paramount Pictures is doing a remake of "Planes, Trains, and Automobiles," starring Will Smith and Kevin Hart. In the 1987 original, Martin and Candy rent a pea-soup green Chrysler LeBaron Town&Country convertible (well, sort of), which suffers a series of mishaps including catching fire yet still chugs along. It was a star turn for the wood-sided K-car droptop (though not the last), and that got us thinking: What should the Smith and Hart duo get stuck with at Marathon Rent-A-Car? Of course, it needs to be a convertible. Among the widely used rental-car convertibles, a Ford Mustang or a Chevy Camaro would be too sporty and cool. This trip is supposed to be miserable. A Buick Cascada or a Beetle convertible would be more appropriate. Of the two, a Beetle is probably better from a comedy standpoint.  But there is another car that stands out as the clear winner: the Chrysler PT Cruiser convertible. Granted, the PT convertible went out of production in 2008, making it a bit old for a current rental lot — but not too old. And the PT Cruiser was even offered with a Woodie package, providing even greater alignment with the LeBaron of old. However, the Woodie package was only offered from 2002–2004, so it predated the convertible by one model year. We think that in this case, the filmmakers should put aside strict historical accuracy and apply the faux-wood appliques to the PT convertible for maximum continuity with the original movie. Besides, the original car wasn't technically a Chrysler LeBaron: it had a different name and badging, plus a non-factory color. It wasn't too different from the Wagon Queen Family Truckster from "Vacation" in that regard. So, what do you think? Is it time for the PT Cruiser to join the great pantheon of movie road-trip cars? Or would something else make for a better movie motors classic?