Report: Owners Leasing Cars May Be Able to Make a Profit

With the recent surge in used car prices in the U.S., many people leasing vehicles have discovered the surprising fact that the market value of their automobiles is greater than the dealer’s quoted residual (buyout) price.

All a would-be lessee needs to do is buy the car from the dealer and sell it on privately. The dealer gets the residual amount and the former lessee pockets a tidy sum.

Take the example of a 2008 Volvo XC90. With more than twelve months left on the lease, the dealer’s buyout price was a quoted US$18,500. Compare this to the amount the lessee was likely to get by selling the car privately: a far more substantial US$27,000. That’s a profit of US$8,500!

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Bentley Defies Crisis with a 20% Increase in Global Sales

Crisis? What crisis? For you and me, perhaps, but not for Bentley buyers. The VW-owned British luxury carmaker announced today a 20% increase in global sales for the first half of 2011 with 2,978 cars delivered to customers, the best start for the company since 2008. Read more »

China Opens World’s Longest Ocean Bridge Measuring 26 Miles in Length! [with Videos]

China opened today to the public not just one or two, but amazingly four of the world’s longest over-sea bridges. Three of the bridges are part of the Beijing-Shanghai High Speed Railway, which made its maiden trip today.

This project began in 2008, cost around US$33 billion and employed approximately 10,000 workers. It is expected to carry double the number of passengers than before (80 million versus approximately 40 million), whilst also reducing the time it takes to make the journey from 10 to less than 4 hours!

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Kia Hooks its Belgium CEO up to a Lie Detector to Dispel Doubts About 7 Year Warranty

If there’s one thing South Korea’s Kia does better than any other automaker, it is offering especially long warranties. In Belgium, for instance, the warranties across their entire range of vehicles extend to seven years.

That’s no mean feat, though intriguingly Kia Belgium have found that a lot of new car buyers believe the seven year warranty scheme is too good to be true. Either there’s a catch, or it doesn’t cover all Kia models, or there’s some extra charges that need to be paid first.

To counteract these rumours, and gain some additional customers, Kia Belgium hooked its General Manager Benoit Morrene up to a polygraph (lie detector) and let the general public ask him questions in an online, streamlining environment.

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Porsche to Return to Le Mans in 2014 with Brand New LMP1 Racer

Porsche, the most successful marque ever in the history of the 24 Hours of Le Mans has announced its return in 2014 to the world’s most famous endurance race. Porsche has won at Le Mans a record 16 times, and aims for the top spot with its works entry in the top LMP1 category. Read more »

VW Posts 35% Jump in U.S. Sales in June, Jetta Demand up 121%

The Volkswagen brand has reported U.S. sales of 28,444 units in June 2011 recording a 35.1 percent increase over the same month a year ago. The German firm’s year-to-date-sales are up by 22.3 percent compared to 2010 at 154,125 units.

The most impressive increase in sales comes from the new Jetta, which was introduced to the American market in October 2010. The compact sedan’s U.S. sales totaled 14,513 units in June (+120.9%) and 76,498 cars from the beginning of the year, an increase of 77.2 percent over the same period in 2010.

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Rumors: Audi Quattro Coupe May be Given the Green Light by September

The Audi Quattro Concept wowed the crowds at the 2010 Paris motor show. The favorable reaction of both the public and the press to the one-off concept that was created to celebrate the original Quattro’s 30th anniversary has sparked many rumors that Audi is seriously considering making a production version. Read more »

BMW 5-Series Gains New 2.0-Liter Four-Cylinder Turbo Engines, 5-Series GT gets the M Sport Treatment

There’s a lot going on in Munich today as BMW has unleashed details on its new model year portfolio. Following the news on the 6-Series, more of which you can read in our previous post here, we bring you the updates to the 5-Series range that includes the four-door sedan, the Touring (station wagon) and the Gran Turismo liftback.

We’ll begin with the changes to the engine lineup of the 5-Series saloon and Touring models. Starting from this fall, European buyers will be able to order the 5-Series with BMW’s brand-new 2.0-liter turbocharged four-cylinder gasoline engine, which is offered in two forms producing 184HP and 270Nm (199 lb-ft) in the 520i and 245HP and 350Nm (258 lb-ft) in the 528i.

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Chevrolet Announces UK Prices for the Camaro, Starts from £34,995 (US$56,040)

The Camaro is the centerpiece of Chevrolet’s display at the Goodwood Festival of Speed, which begun today. And the company thought it was the perfect opportunity to announce the pricing of its UK-bound muscle car that will be available in early 2012.

The Camaro with the V8 engine starts from £34,995 (US$56,040) in coupe trim and from £39,995 (US$64,060) for the convertible, both with a manual transmission. If you want an automatic gearbox, you’ll have to add another £1,500 (US$2,400). In the U.S., the V8 model starts from US$31,070, which is equal to £19,400.

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Ford to Baby Boomers: We Get that You’re Old and Feeble and Can’t Read Small Fonts

*This article has been (patronizingly) posted in a larger-than-normal font for our older readers

From next year, the fonts in Ford’s Edge and Explorer SUV models will be some 40% larger as well as thicker. The reason? Baby Boomers have poor eyesight. No, really, Ford’s done a study and everything. The bigger fonts will extend to interior display screens control and A/C controls, and will gradually be rolled out onto other models in the Ford range in coming years.

In a statement on their website, Ford expressed its desire to make it, “easier for people of all ages, particularly aging Baby Boomers, to read display fonts.” Ah, like the little boy or girl who flat-out tells his grandparents that they’re old and wrinkly, Ford has snagged upon that babying / slow and loud way anyone under the age of 30 speak to anyone over the age of 50:

“YES, MRS. JOHNSON. THE WEATHER IS NICE TODAY. DO YOU THINK YOU’LL GO DOWN TO THE PARK?”

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Fiat to Display 21.7-liter Mefistofele and 500 by Gucci at Goodwood Festival

Fiat’s major attraction in this year’s Goodwood Speed of Festival, which begins tomorrow, will be the famous Mefistofele. The record-breaking classic, which is based on a 1908 Fiat SB4 Corsa, returns after a decade to Goodwood and will be displayed in the “Cathedral Paddock” area. Read more »

Drunk, Asleep and Driving a Car? The Curious Case of Dr. Donald Clegg

Donald Clegg, a 59-year old doctor from Prestwich in the UK was four times over the legal limit when he crashed his Vauxhall Zafira into a row of parked cars. He was also sleepwalking at the time and attired in a dressing gown and slippers…

Dr. Clegg pleaded guilty to driving over the limit “without due care and attention” and was sentenced to a minimum 12 month driving ban, a fine of £650 and was ordered to pay £315 in court fees and charges. The court rejected that Dr. Clegg’s sentence should be suspended due to his somnambulism (somncogoism?).

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Leaked C&D Issue Spills the Beans on Brand New Porsche 911

The wall of secrecy surrounding the brand-new 2012 Porsche 911 has cracked thanks to a forum member of Teamspeed who downloaded and shared Car & Driver’s upcoming August issue in which the magazine has an exclusive first ride of the car. C&D joined the Porsche team during the new 911’s final tests in South Africa nd here’s what they found out.

The new 911 is code-named 991 and will be launched in September at the Frankfurt Motor Show. Compared to the 997 that it replaces, it is 2.5 inches longer and has a 4.0-inch longer wheelbase so that it can accommodate a hybrid system, presumably from the Panamera.

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Ford: More than 50,000 Cars with 1.6-liter EcoBoost Engine Sold in Europe

Since its introduction in late 2010, Ford’s new 1.6-liter EcoBoost engine has proven to be a hit with European consumers having sold more than 50,000 units. The engine, which is manufactured in Ford’s UK Bridgend plant, is available in six different models (Focus, Mondeo, C-MAX, Grand C-MAX, S-MAX and Galaxy). The company attributes its success to its blend of performance, economy and low CO2 emissions. Read more »

All-New 2012 Toyota Camry and Camry Hybrid Coming this Fall

Toyota officially placed the arrival of the all-new 2012 Camry sedan and its hybrid sibling (2010/2011 Camry pictured above) in the U.S. market for this fall during the company’s annual national dealer meeting which took place on Wednesday in Las Vegas.

The Japanese company said that the next generation of its best-selling model will move away from the conservative designs of the past.

“Designed to meet the changing needs of the 21st Century driver, the new Camry will provide technologically advanced features, a contemporary design inside and out, improved performance and refined ride and handling,” Toyota said in a press statement.

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MINI Inspired by Goodwood Carries…Rolls Royce Inspired Price Tag at £41,000 or US$65,700!

Apparently, Aston Martin isn’t the only British automaker to lose contact with reality when it comes to pricing special edition models. Soon after Aston Martin slapped a €48,995 (equal to £44,100 and US$70,700 at the current exchange rates) sticker on its Colette-trimmed Toyota iQ…err… we mean Cygnet, the BMW Group division announced that its new MINI Inspired by Goodwood is priced at £41,000 (€45,600 or US$65,700). Read more »

Rumors: BMW to Bring Six-Cylinder 6-Series to the States and Possibly Introduce an AWD Version

The crew over at Autoblog.com is reporting that BMW plants to sell a six-cylinder version of its new 6-Series Coupe in America after all. When the Bavarian automaker introduced the latest 6-Series Coupe and Convertible models, it had stated that the U.S. would only get the 650i with its 4.4-liter turbocharged V8 that delivers 400-horses in NA-trim and 407HP in the EU.

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Robocarpocalypse Begins: Nevada Asks DoT to Draw Up Legislation for Driverless Cars

I can’t remember if there were self-driving cars in the third Terminator movie, though frankly I can’t remember anything other than that red leather and vinyl outfit Kristanna Loken was wearing. What were we talking about? Oh, yes, the robocarpocalypse.

With the passing of Assembly Bill 511 in the Nevada Senate, the U.S. Department of Transport will now have to draw up rules governing autonomous vehicles on the state’s roads.

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Cold-War Leftovers still Very Popular in Russia

It’s been over two decades since the collapse of communism in the former USSR and the introduction of capitalism to what is now Russia. However, a relic from the past, a car that was introduced back in 1982 (actually even older if you count the vehicle upon which it was based on), is still quite popular with the locals.

The car we ‘re talking about is the Lada 2107 which along with the 2104 and the 2105 versions are Russia’s second best-selling cars, only behind Lada’s much newer Kalina hatchback.

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Toyota and Lexus Hybrids Recalled Over Stalling Issues

A problem with the electronics of the hybrid system, which could cause certain Lexus RX 400h and Toyota Highlander Hybrid SUVs to lose power or stop running, is the reason behind the Japanese carmaker’s latest recall.

Toyota said about 45,500 Highlander Hybrid and 36,700 Lexus RX 400h vehicles from the 2006 and 2007 model years sold in the USA are affected by the voluntary recall.

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