Cars.com News Briefs: March. 1, 2012

Terrafugia Transition

Here's what we have our eye on today:

  • Ford may lose $500 million to $600 million in the tough European market this year, according to Ford CFO Lewis Booth, who spoke with Bloomberg News. Other large carmakers, such as Opel (owned by GM) and PSA Peugeot Citroën, also are having a tough time operating in Europe and have agreed to collaborate on some vehicle developments together. Europe's unemployment levels continue to hit record highs, according to the Economist. The economies of Italy, Belgium, Greece, the Netherlands, Spain and Portugal have officially slipped back into recession. 
  • Chrysler may dump Ally Bank as its preferred lender, according to Bloomberg Businessweek. General Electric Capital Corp., U.S. Bancorp, JPMorgan Chase & Co. and Ally are all vying for Chrysler's auto loan originations, which come in at over $25 billion a year. Wells Fargo is interested, too, according to Bloomberg. Ally's current relationship with Chrysler's dealers and customers ends in April 2013. 
  • Terrafugia, maker of the first “flying-car,” will debut its vehicle at the 2012 New York auto show, according to the company. The Transition, which is the name of the model (shown above), has folding wings and a propeller. It will be street legal, too. The company will discuss its plans for the Transition at the show, with a new round of flight tests scheduled for next month, according to the Wall Street Journal
  • The state of California is set to pass new laws that will permit automated cars on its roads, according to Bloomberg News. The new law will mimic the legislation passed in Nevada earlier in the year that gave its highway authority the permission to develop regulations for self-driving cars on state roadways. Google, who's developing its own advanced automated-vehicle technology, had a strong hand in the legislation passed in Nevada and in California. Similar bills have been introduced in Hawaii, Oklahoma, Florida and Arizona, says Bloomberg.

Comments 

FlanKitty

I like the "flying car" but at a base price of 279,000$, I'll have to pass in favor of something more affordable, like anything. (the stall speed to max indicated speed isn't impressive either)

Tony

When I was a kid, actor Bob Cummings had a 1960 Aerocar and used it in his TV sitcom The New Bob Cummings Show. I lusted mightily after that flying car. I think (but this could be a faulty memory) it could also be converted into a boat.

gibbymac

For the price it fails in my practicality. Could have a four-place, better payload, higher horse power (and thus safer flight dynamics) airplane, and a car as well (although not the looks and enquiring eyes!). Instrument redundancy: What happened? All glass and no back-up resources? But neat effort.

jimbo

@FlanKitty: How you priced a new C-172 or Piper Cherokee lately? Don't even think about a Cirrus.

FlanKitty

jimbo: When comparing I mostly reference against experimental aircraft (homebuillt) with proper aviation grade materials/engine. Kitplanes (website or magazine) is a good place for more info.

Post a Comment 

Please remember a few rules before posting comments:

  • If you don't want people to see your email address, simply type in the URL of your favorite website or leave the field empty.
  • Do not mention specific car dealers by name. Feel free to mention your city, state and brand.
  • Try to be civil to your fellow blog readers. This blog is not a fan or enthusiast forum, it is meant to help people during the car-buying process and during the time between purchases, so shoppers can keep a pulse on the market.
  • Stay on topic. We want to hear your opinions and thoughts, but please only comment about the specified topic in the blog post.
view posting rules

If you have a TypeKey or TypePad account, please Sign In

Search Results

KickingTires Search Results for

Search Kicking Tires

KickingTires iPhone App
Ask.cars.com