Episode 943 – Porsche Executives Face Charges, 2013 Nissan Pathfinder, MINI Clubvan Concept
August 6th, 2012 at 12:00pm
Runtime: 8:06
Two former Porsche executives are being investigated over allegations of market manipulation. Nissan just introduced the all new 2013 Pathfinder, which hits dealerships this fall. General Motors may have to write down its investment in Peugeot-Citroen because it exceeds its fair value. All that and more, plus a look at a new concept vehicle from MINI.
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Welcome to Autoline Daily. It’s Monday the 6th of August, 2012. That’s right; you’re stuck with me again. I’m Craig Cole filling in for John who is out of town. Anyway, here’s the latest news from the automotive beat.
PORSCHE EXECUTIVES FACE CHARGES
Two former Porsche executives could face criminal charges in Germany. According to Reuters, former Chief Executive Wendelin Wiedeking and former Chief Financial Officer Holger Härter are being investigated over allegations of market manipulation. They’re accused of pursuing plans for Porsche to takeover Volkswagen while making public statements to the contrary. Prosecutors are expected to make a decision soon on whether to charge these two executives, who could face up to five years in prison.
2013 NISSAN PATHFINDER
Last week Nissan introduced the all new 2013 Pathfinder. Powering this SUV is a 3.5-liter V-6 that cranks out 260 horsepower and 240 pound-feet of torque. It’s matched exclusively to a continuously variable transmission. It’s also available in two- and four-wheel drive versions. By switching to a unibody architecture and making other enhancements, engineers trimmed the new Pathfinder’s weight by 500 pounds. Thanks to this and other improvements, fuel economy is 30 percent better. Since this is a family vehicle that can seat seven people, easily getting in and out of the third row is a must. And the Pathfinder offers several solutions to make that a piece of cake. The 2013 Nissan Pathfinder goes on sale this fall with a starting price around $28,000.
GM MAY WRITE DOWN PSA INVESTMENT
Back in March General Motors ponied up about $423 million to acquire a 7 percent stake in ailing French automaker Peugeot. At the time the move was a real head scratcher, and frankly it still is. Not surprisingly things have gotten worse. In fact, The Detroit News reports GM may have to write down its investment in Peugeot-Citroen as the European market continues to founder. In a filing with the U.S. Securities and Exchange Commission, the automaker acknowledged its investment in PSA exceeds its fair value. GM plans to hold on to its stake until the value recovers. But Autoline regular and industry analyst Jim Hall said this is not a bad thing. He said this is a long-term investment and that the stock price is basically irrelevant. As Hall put it, it’s a classic case of “Wall Street myopia.” GM needs greater purchasing capacity to prevent Volkswagen from getting too much of a component advantage. It’s like shopping at Costco. The more you buy, the cheaper the price, and surprisingly he argues, PSA was a good choice for this. We’ll have to see how things shake out . . .
MAN CRUSHES POLICE CARS WITH TRACTOR
Things aren’t so sweet in the maple-syrup state. ABC News reports a Vermont farmer allegedly went on a rampage with his tractor, crushing seven police vehicles at the Orleans County Sheriff’s Department. That’s more than half of their fleet of 11 cars! Ironically, officers had nothing left to pursue the possible perpetrator, 34 year old Roger Pion. He managed to make it about a mile from the station before being apprehended. Apparently he was disgruntled about charges brought against him the previous month, which include resisting arrest and possession of marijuana.
Coming up next, a preview of an exciting new utility vehicle. Stick around . . .
MINI CLUBVAN CONCEPT
Are you a MINI enthusiast? They’re tons of fun to drive and get terrific fuel economy, but have you ever wanted more? I’m talking about more cargo capacity. The company has a new concept vehicle that could fit the bill.
(The MINI Clubvan concept overview is only available in the video version of today’s show.)
1,100 pounds of cargo capacity! That’s more than half a ton! I never knew a MINI could hold that much weight. Also, it’s nice of them to take the cost of those rear seats off the sticker price.
Anyway, that’ll do it for today’s show. Join us again tomorrow for all the car-related news you can handle. We’ll see you then!
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Comments (18)
August 6th, 2012 at 1:04 pm
Finally somebody that knows what they are talking about in regards to the GM/PSA partnership. Jim Hall just went up a notch in my book. Besides the component advantage in Europe, I hear that the logistics cost savings alone should pay for the investment in a couple of years.
August 6th, 2012 at 1:19 pm
Love the look of the New 2013 Nissan Pathfinder.
It will be definitely on my shopping list next time I need a new SUV.
I was watching the WRC (World Ralley Championship)on Speed and this form of racing is dominated by Citroen and Ford. What if any interest / representation does GM have in WRC?
That guy in Vermont must of had alot of time in order to damage 7 out 11 squad cars. Maybe Andy and Barney were over at Aunt Bea’s have hot cakes and maple syrup.
I bet those Porsche executives get a slap on the wrists!
August 6th, 2012 at 1:26 pm
So this is also the new Infiniti QX4?
Hopefully the German Gov’t takes stock market manipulating more seriously than the U.S. gov’t. Maybe this will set an example.
I hope the tractor guy has good insurance.
Unless your business involves moving dumbbells and barbells, I don’t see how you fit 1,100 pounds of anything in that Mini. The mobile signage may be worth the price, but perhaps a graphic wrap of a Mini might be more practical.
August 6th, 2012 at 1:41 pm
It’s time to let go of that goofy looking gauge in the Mini. I don’t get it…looks cheesy and dated. A bit clownish. Lastly, though they will take $800 off sticker price due to lack of rear seats, i am sure they will get that money back with high dealer mark-up.
August 6th, 2012 at 1:50 pm
The Clubvan is the only recent addition to the MINI line that makes sense. It is based on the Clubman, not the oversized-for-MINI Countryman, and Clubvan fits the MINI legacy. They made cargo van versions of the original Mini.
If I could have gotten my basic MINI hatch without a back seat for a little less, I would have done so. MINI should consider offering such a car.
August 6th, 2012 at 2:43 pm
I think GM should continue to buy more of PSA stock based on it’s a good car company with well engineered products. Still seems hard to believe that GM would be in the acquisition mode given their recent bankruptcy.
August 6th, 2012 at 3:20 pm
Now Pathfinder is going CVT, but, will they be doing pseudo-’gears’ like everybody else? I’ve never understood why automakers use CVTs in this manner. It seems to me that the advantage of a CVT is matching the transmission ratio to the torque required at any given instant, but, nobody uses the CVT this way.
August 6th, 2012 at 3:23 pm
The doobie-toking Vermont farmer (wonder what he farms) may well be disliked by his fellow scofflaws before long. Although the Orleans PD may have to pursue delinquents and other malefactors on horseback in the short-term, insurance proceeds may bestow hemi-powered, Dodge-branded cruisers that trump the archaic Crown Vics of yore, or other outdated brand dressed in full police regalia. Sure, it won’t stop the bandits from running, but to their chagrin, eluding such raw power only frustrates the dishonest, law breaking hooligan.
August 6th, 2012 at 3:46 pm
#7,
The pseudo-gear thing is just a gimick some CVT equipped cars have for people to play with. Normal mode is always for the software to pick the appropriate ratio for the conditions.
August 6th, 2012 at 4:23 pm
Is GM-PSA beginning to look a lot like GM-Fiat? Or is it just me? I wonder if GM will have to pay PSA millions of dollars to back out like they did with Fiat.
August 6th, 2012 at 5:05 pm
I agree GM’s stake in PSA was a positive move; First to combat VW’s skeem to overwhelm the market and, second, to reduce cost by sharing commonalities. Analysts predict German borrowing costs will increase as boardering countries become more demanding of cheep capital to promote manufacturing and desperate need to increase exports. Despite Merkels insistance to dominate over the others,the EMF and banking system will have to interject,probably after September because money does not grow on trees.
August 6th, 2012 at 5:10 pm
I looked at a picture of the new PATHFINDER.The one that’s the side view towing the boat…it looks just like the current outgoing design of the Hyundai Santa Fe.Imagine that,somebody copying Hyundai for a change.
August 6th, 2012 at 5:18 pm
Kit, For as much as I like the MINI,the number of variations has become excessive, thus making profitability questionable and, perhaps, an indication of desperation. If they get any larger, the use of the brand “MINI” will become an oximoron! I don’t care how heavy a load the clubvan can hold, because it’s capacity is too small and the price will be too high.
August 6th, 2012 at 5:28 pm
Are all those Mini itty-erations rolling off the same line? Smells like gravy to me.
August 6th, 2012 at 6:00 pm
HtG,I considered that,as well. I’m not certain a single line could handle all the variations regardless of mat’l controls or of small batches. Do not confuse my remark as not being profitable. I do see it as a means to make every dollar possible while believing Mini has every expectation the gravy train has a limited duration because of what will become inevitable in Germany’s near future.
August 6th, 2012 at 6:05 pm
The Clubvan is a new MINI that I like. It will be cheap to tool up for, and it fits with the history of the old Mini.
I’m not too crazy about most of the other expansions of the MINI line. The Coupe looks funny, and the Countryman is just to big for the brand. It is selling pretty well, though, so I guess they knew what they were doing.
August 6th, 2012 at 6:31 pm
@ T. Bejma
I thank you deeply for offering your discount and price check on the ATS I desire. I will take you up on your offer after I decide. Thank you very much for your kindness!
August 6th, 2012 at 10:05 pm
Always glad to help cwolf or others looking at GM vehicles. I have a Buick GS Manual car this week if anyone wants to take it for a ride (if it fits in my schedule too).