2010 Detroit Auto Show Winners and Losers: Concept Cars
While there may have been fewer production-ready new models at this year’s Detroit auto show, a fair number of concept cars appeared under the lights at the Cobo Center. Over the past few years, automakers have shied away from showing concept cars as they've chased down consumers with as many real products as possible. It seems they’ve run out of new products, though, and are relying on no-promises concepts to wow show-goers. Here are the ones we think might actually wow. From certain angles the XTS intrigues, but the rear doesn’t light my fire. If this is a luxury flagship, part of me still wants to see a V-8 engine and rear-wheel drive, not all-wheel drive and a V-6-backed hybrid powertrain. Efficiency is good — these days necessary, arguably — but a luxury flagship needs to perform, and the XTS doesn’t have the makings of that. Cadillac, prove me wrong. I don’t think buyers will note a strong V-6 under the hood versus a V-8, considering the V-6 in the smaller CTS puts out more than Northstars of the recent past. Powertrain won’t matter anyway because this thing is a looker. Even if you don’t like the style personally, you have to agree that this will draw stares from the boomer set who don’t want to drop the dough on a more expensive Audi or BMW flagship. The rest of the world will get the Mini crossover before we in the U.S. do, which is a bummer, but the Beachcomber is actually a good teaser for the model and a good concept in the classic auto show sense. I’ll allow that I might be under Mini’s cheeky spell — or the effects of being in Michigan in January. A beach seems like a pretty good idea. I just spent a week at the beach over the holidays, so maybe I’m not so spellbound. The Beachcomber holds promise, but the concept’s cutesy elements — from the faux spare tire holder to attachable interior accessories like a plastic palm tree — spell softie. If the basic structure is what we’ll see in production form, as I was told...
Asset-Backed Debt Revival in Europe Led by Ford, BMW
Jan. 14 (Bloomberg) -- Europe’s asset-backed bond market, dormant for a year, is coming back to life as Bayerische Motoren Werke AG and Ford Motor Co. sell more than 1 billion euros ($1.45 billion) of debt backed by automobile loans and leases.
BMW, the world’s biggest luxury car maker, is selling 742 million euros of bonds backed by German auto leases, said a banker with direct knowledge of the deal. Dearborn, Michigan- based Ford sold 300 million euros of debt tied to car loans on Jan. 8.
The revival in debt backed by consumer and business payments in the auto industry shows improving investor sentiment as Europe emerges from the recession. Yields on company bonds averaged 4.13 percent yesterday in New York, down from 4.37 percent at the start of the year, according to the Bank of America Merrill Lynch Global Broad Market Corporate Index.
“If BMW is successful, it would be a really good indicator for other issuers now monitoring the market,” said Markus Ernst , a credit analyst at UniCredit SpA in Munich. Borrowers testing the waters is “definitely a good sign as it underlines that the market is not drying up,” he said.
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Official site for the Ford Motor Company, manufacturer of SUVs, cars, trucks, and wagons. The Ford family brand includes Lincoln, Mercury, Mazda, Volvo, Jaguar, Land-Rover, and Aston Martin. Find vehicles in the interactive showroom and learn more about Ford services including financing, parts, and sales.