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Auto blog

Revisiting the 2008-09 auto bailout that saved GM and Chrysler

The Federal Reserve stayed open late on December 31, 2008. There's almost no way you could remember that because barely anyone knew at the time. But General Motors had to pay its bills, and the Fed wired money so GM could still buy things in January. Without those funds, the nation's largest automaker wouldn't have seen much of 2009. It's one of many heart-stopping moments that illustrate just how close Detroit's Big Three came to extinction nearly a decade ago. They're chronicled in a new movie, Live Another Day, premiering in theaters September 16. Filmmakers Bill Burke and Didier Pietri interviewed nearly all of the key executives, federal officials, and union chiefs to recreate the auto industry's most perilous period. The movie begins in the aftermath of Lehman Brothers' demise amid the global financial meltdown. Things looked bleak for American carmakers, and their CEOs were laughed off Capitol Hill when they sought a Wall Street-style bailout. "It was a feeling that it was the end of the world," Pietri told Autoblog in an interview where he and Burke previewed the film. Saved by last-minute loans authorized by the Bush Administration after Congress refused to act, Detroit staggered into 2009 with a faint pulse. Live Another Day illustrates the downward spiral that played out that winter as President Obama and his task force – with little prior knowledge of the auto industry – wrestled over the fate of hundreds of thousands of jobs. GM's longtime CEO Rick Wagoner was fired in March. Fiat CEO Sergio Marchionne suddenly appeared as a savior for Chrysler, with his own motives. Obama rejected restructuring plans from the automakers. Chrysler declared bankruptcy on April 30. GM followed June 1. The sequence was very public, but Pietri and Burke showcase lesser-known events that shaped the outcome. They also seek to dispel the notion that the government rescued GM and Chrysler from incompetent leaders. "We never subscribed to the theories that the management structures of the companies were a bunch of idiots who didn't know what is going on," Pietri said. At one point, Chrysler executives were negotiating with Marchionne and Fiat. Unbeknownst to them, the government was having its own talks with the Italian automaker. The filmmakers also cast light on the bankruptcy process, which was shredded to shepherd two of America's industrial icons through reorganizations.

Ford reserving 50th Anniversary Mustangs for service members

Think getting your hands on one of the 1,964 50th Anniversary Ford Mustangs is hard as a civilian? Imagine how tough it might be for the Mustang fanatics in our nation's military. Perhaps recognizing this fact, Ford Emerging Market Services and the Overseas Military Sales Corporation (the only Ford-authorized retailer on the military's bases) ran a raffle, with the winners receiving the opportunity to purchase one of the limited-edition muscle cars. Ford EMS and OMS received 300 entries to the raffle, although with only eight 50th Anniversary Stangs to hand out, we imagine there were quite a lot of disappointed soldiers, sailors, airmen and marines. "We are pleased to offer limited-edition anniversary Mustangs to members of our military through our Military Appreciation Program, and we are delighted at the response it's receiving," Doug Walczak, EMS' fleet sales manager, said. The first Mustang was delivered to Army Maj. Del Boyer, shown above. While Maj. Boyer took delivery in New York, the raffle was open to servicemembers both at home and abroad.

Recharge Wrap-up: Grimsel electric car breaks acceleration world record, electric Ford Raptor ATV debuts

An all-electric version of the Ford F-150 SVT Raptor is now available... as an ATV. Made by Caddyshack Golf Cars, it features officially licensed Ford badging borrowed from the super-macho pickup. It has a lifted chassis with leaf springs in the front and rear, hydraulic shocks and off-road tires. Powered by a 48-volt motor, it can do 0-25 mph in 2.9 seconds. Range is an estimated 30 miles - plenty to get you through 18 of the most rugged holes of golf you've ever played. Caddyshack also offers other miniature electric Fords, including a Shelby GT500, Shelby Cobra and 50th Anniversary Mustang. Read more at Green Car Reports. Lexus takes a crack at the BMW i3 in a new video from Funny or Die. In the decidedly anti-EV film, a group of guys drives to Las Vegas for a "dad-chelor party" in a Lexus CT 200h and a BMW i3. The Lexus hybrid makes it to Sin City without any problems, while the BMW's occupants need to make several lengthy stops to charge along the way, missing much of the fun. The video lampoons the inherent range limitations of the EV (the BMW group ends up driving slowly through the desert with no AC or radio to save energy), all in a well produced, if somewhat misguided, short comedy film. Perhaps they should have considered the i3 with a range extender? See the video below, or read more at Green Car Reports. Students from ETH Zurich and Lucerne University have set a new EV acceleration world record. Their "Grimsel" racing car was able to zoom from 0-100 kph (0-62.137 mph) in just 1.785 seconds in less than 30 meters (98.425 feet), crushing the previous record of 2.134 seconds. Even more impressive is that the Grimsel was built by the students themselves, as part of the Formula Student team at the Academic Motorsports Club Zurich. The car weighs just 370 pounds and provides 200 horsepower and 1,202 pound feet of torque from the four hub motors. The Grimsel uses traction control to manage torque for maximum acceleration. See the record acceleration run in the videos below or read more at Gizmag, at Electric Autosport or in the press release from ETH Zurich below. 'grimsel' breaks world record The 'grimsel' electric racing car today broke the previous world record for acceleration in electric cars. The vehicle accelerated from 0 to 100 km/h in 1.785 seconds in under 30 metres. The new record was set by students from ETH Zurich and Lucerne University of Applied Sciences and Arts, who also designed and built the vehicle.