General Motors is telling its dealers that there's a shiny nickel or two in it for them if they can sell cars without getting the GMAC finance arm involved. For every sale closed with outside financing, salespeople and managers will each receive $100, with an additional $50 going to someone the dealer designates. GMAC has already cracked down on borrowers with FICO scores below 700, and this looks like another move to discourage putting GM on the hook for risky loans; let someone else take that chance, the automaker seems to be saying to its dealers. Not all dealerships are happy with the plan, but GM and Cerberus Capital, which owns 49 percent of GMAC, must take steps to reduce potential losses. We can imagine that GM might lose some business to the newly tightened lending criteria, though there are plenty of third party loans out there, many even halfway reputable.
The famous Baja 500 begins today in Ensenada, CA, and one of the more interesting dirt racers discovered by our friend Mike Levine at Pickuptrucks.com is the Tundra D-Cab PreRunner from TForce Motorsports. It looks good, has ridiculously huge King off-road racing shocks, and it's owned by former Indy 500 champ Danny Sullivan, but that's not what makes this rally racer unique. Power for the PreRunner comes from none other than GM's LS2 small-block. TForce crew member Matt Riggle told Levine that the team chose the 375-hp, 400 lb-ft powerplant because of its reliability, as well as its ability to run on regular Pemex gas that's much cheaper than facing fuel.
For the record, Toyota does not sponsor team TForce or its hopped-up PreRunner, but you can imagine that choosing a GM engine over one by Toyota because of reliability isn't exactly what the folks in Aichi, Japan like hearing.
For seven years, William D'Arcy drilled well after well in Persia, now known as Iran, looking for oil. With his funding running low, and his employers getting quite impatient, D'Arcy drilled one last well and hit a gusher on May 26, 1908. The rest is history.
Six years after the discovery of the vast Middle Eastern oilfields, D'Arcy and the Anglo-Persian Oil Co. almost went out of business. They literally had oceans of precious oil and, by then, a pipeline to remove it from its remote resting place. What they did not have, ironically, were customers. Cars were the toys of the wealthy, ships mostly ran on coal and so did electrical plants. Winston Churchill, however, saw the benefits of running his navy on oil and soon had World War I to fight. Black gold quickly became one of the world's most coveted resources.
Years later, the Anglo-Persian Oil Co. bought the government-seized assets of a German firm that sold oil in Britain before the war. That company was called British Petroleum, a name adopted later by Anglo-Persian and shortened to BP in 2000.
A landmark was recently passed on Israel's road to reduced dependance on foreign oil when Renault and Project Better Place held a demonstration of an electric car that will hit Israeli streets next year. For those unacquainted with Project Better Place, the Silicon Valley start-up headed by tech guru Shai Agassi has teamed up with Renault-Nissan to build and deploy fully electric Meganes in the seaside Middle Eastern country. The batteries that will power the vehicles are built by a joint-venture between Nissan and NEC, have a 125-mile range and will be supported by half a million charging stations and hundreds of battery-swap stations. Those specs should be enough to satisfy drivers in a country barely 60 miles between the Jordan River and the Mediterranean Sea, and 260 miles from the Red Sea to its border with Lebanon. An initial launch fleet is scheduled to hit roads next year before sales begin in late 2010. The hope is that Israel will prove a suitable test case before the project can be launched in other countries. Norway has already signed on, but suitability for bigger countries (like the United States, where long commutes are commonplace) will largely depend on advances in battery technology.
Scion announced pricing for the 2009 xB and tC today, and if you want to get your hands on the love-it-or-hate-it toaster on wheels, you'll have to pony up an extra $100 this year. The xB's base price is now $16,370 (including shipping), and comes equipped with a five-speed manual as standard equipment. If you can't stand swapping your own cogs, you can shell out another $950 for a four-speed automatic. The tC's price remains the same as the 2008 model, starting at $17,620 with a five-speed manual and $18,420 for the four-speed auto 'box. Sales of the xB begin this month and the "slightly tweaked" tC will arrive in May.
It's pretty straightforward for most of us: drive above the speed limit and risk getting in trouble with the fuzz. Racing drivers usually get away with it – if only because they're on closed circuits – which makes it all the more interesting when the same fate befalls them as applies to the rest of us. Although nothing seems to have come out of Schumacher's now-famous cab-driving incident, for example, Lewis Hamilton can't drive anymore on French roads. Now, after having almost run down a police officer on his way to a record fifth consecutive victory in Monte Carlo, we've got video footage of incumbent rally champion Sebastien Loeb getting pulled over by Swedish police in his Citroen C4 rally car.
In the video after the jump, you can clearly see the same ticked-off look the rest of us get while receiving a ticket. But the discernible exasperation could be more from the results of that weekend's rally, where mechanical problems forced Loeb to retire as Ford's Jari-Matti Latvala became the youngest ever rally winner at 22, topping a Ford- dominated podium at the 2008 Swedish Rally.
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