It looks as if consumers are agreeing with my stance regarding hybrid cars: they just aren't worth the premium price. Only the $21,000 Toyota Prius is selling fairly well with sales for all hybrid models dropping across the board.
Ford has invested billions of dollars in hybrid technology and is looking to add additional models through 2010 when it hopes to sell 250,000 hybrids annually. Trouble is, not too many people want to pay a premium price for the Ford Escape and the company is now adding incentives of up to $1000 in a bid to move the vehicles. Fully incentivized versions of the gas powered Escape are selling for as little as $17,000 while the hybrid version is retailing for about $27,000. The Mercury version of the Escape, the Mariner, is also a slow mover. It retails for about $30,000.
GM Trims Suzuki Share to 3%
Reeling from record losses, General Motors is selling a large chunk of its holdings in Suzuki back to the Japanese automaker in a bid to raise $2 billion from the sale.
Currently, GM owns approximately 20% of Suzuki and the sale will reduce GM's share of the company to just 3%. Suzuki has been experiencing record sales over the past three years and is in an excellent position to buy back some of its stock.
Jaguar XK: A Hot Arabian Seller
The Jaguar XK is proving to be such a strong seller in one market even before the first cars arrive. According to a recent report in TradeArabia, all XK cars allotted for the Middle East market are already sold.
Featuring a 300 h.p. 4.2L V8, the coupe is a clear departure from earlier Jaguar models as it invokes a sleeker, more sportier look and the car is loaded with all the latest technical gizmos that drivers crave. The car also won accolades as "The Most Exciting Car to Be Launched in 2006″ with Britain's What Car magazine.
Car Show News...Find An Event!
Finding out the "when and where" of upcoming car show events is a lot easier thanks to a great web site featuring that information for all 50 American states, D.C., and Canada.
The Car Show News and Classic Auto Events site is a great place for auto enthusiasts to visit and locate a show in their area or whatever. The site features dates, locations, email addresses and, if available, the event's web site. The site also includes links to museums, auctions, books and a lot more. Check it out!
