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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.

Chrysler may be testing a Hellcat 300

Another day goes by, and another mysterious, undisguised SRT prototype comes out of FCA. This time we have a Chrysler 300 SRT that looks nearly stock except for its footwear. Our spy photographer got up close and personal with this machine, and found that it has the same wheels with 315-mm tires that were on the early Dodge Demon prototypes. The only difference is the wheels on this 300 have Chrysler-branded center caps. All that extra width means these wheels stick pretty far out from the wheel wells, which would suggest that any production car running this setup would have flares to cover the wheels. Behind those wheels are four-piston Brembo calipers and slotted discs that looks similar to those on the current 300 SRT. We doubt that Chrysler is building a Demonized version of the 300, but the tires do suggest that this is a much more potent 300 than the current SRT, which was discontinued in the US in 2015 but is still sold in the Middle East and Australia. That's not all we have to go on, though, since our spy photographer says it sounded like it had Hellcat power under the hood. Equipping a 300 with a Hellcat engine would be a breeze, too, since the engine is already in the Charger, which is virtually identical mechanically. What you may be wondering is why Chrysler is adding a Hellcat version of the 300 SRT when that model hasn't been available in the US since 2015. One possible reason is that this would finally allow Aussies access to the 707-horsepower machine. Dodge is not a brand offered Down Under, so it doesn't get the Charger Hellcat, leaving the 300 as the only V8, rear-drive Mopar available. And for the Middle East, if the normal 300 SRT was selling well, it would only make sense to offer another variant. It shouldn't cost Chrysler too much to develop this model either, since the 300, mechanically, is virtually identical to the Charger. Related Video: Featured Gallery Chrysler 300 SRT Hellcat Widebody Spy Photos View 16 Photos Image Credit: Brian Williams Spy Photos Chrysler Performance Sedan chrysler 300 srt8

Has Dodge stepped in it again with Scat Pack lawsuit?

Lawsuits are an unfortunate part of doing business in just about any industry, so the latest complaint filed by a California-based aftermarket firm against Chrysler would seem to be nothing more than business as usual. But this isn't the first time the two companies have sparred over this particular issue.
According to a report from Automotive News, the dispute revolves around the Scat Pack name that Chrysler first offered on the Charger, Coronet, Dart and Super Bee starting in 1968. Scat Enterprises, a manufacturer of crankshafts and other components for Dodges and other vehicles, sued Chrysler for using its name. A few years later the Scat Pack disappeared from the Dodge catalog.
Fast forward to August 2013 when Chrysler applied to register the Scat Pack name anew. The US Patent and Trademark Office turned down Chrysler's application, but the automaker proceeded anyway, unveiling new Scat Packs for the Challenger, Charger and Dart at last year's SEMA show.