Today we bring you more video of the blind Belgian who recently broke the blind land speed record in France. Luc Costermans piloted a Lamborghini Gallardo borrowed from supercar rental agency GT Drive to 192 mph on the Istres airstrip, which is a pretty amazing feat, but one that's likely to be challenged by former world record holder Mike Newman.
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For most of us, once we're able to sweet talk our way into Lamborghini Gallardo, going 192 mph isn't that difficult. But Luc Costermans has at least one more major obstacle to overcome: he's been blind for four years. Despite that, he managed to borrow an orange Gallardo for an attempt on the Blind Speed Record. Congratulations are in order for both Luc and the Gallardo's owner, as the record was broken and the Gallardo apparently wasn't. Luc set the Blind Speed Record at 192 mph, Saturday, at an airstrip in Istres, France. "I'm very, very happy. It's a team effort," Luc said after the run. His co-pilot, Guillaume Roman, wasn't quoted in any of the stories we read, but we assume he breathed a deep sigh of relief. Seriously, who volunteers to ride shotgun with a blind driver in a Gallardo doing almost 200 mph? Luc can't rest on his laurels. Previous record-holder Mike Newman is hoping to hit 200 mph in a Keating TKR. Anyone got a Veyron Luc borrow? Anyone?
The price of crude oil dropped below $100-a-barrel yesterday (its lowest level since February) as the slowing economy -- bringing with it a reduced demand for oil -- raised concerns. Interestingly enough, the drop in crude didn't affect the price of gasoline as it rose 16 cents per gallon due to refinery closures from Hurricane Ike. The storm only caused moderate damage to oil platforms, but more than a dozen Texas and Louisiana refineries were shut down or idled ahead of the storm. It was just July when crude oil prices peaked at just over $145 per barrel, and gas prices neared $5 in many parts of the country. The high cost of fuel over the summer stymied drivers, who cut back on consumption forcing the price of oil to slowly retreat. Analysts who predicted doom ($200-a-barrel by the end of the year) are now scaling back their forecasts, and some have even predicted crude may eventually drop to $70-a-barrel. While we obviously welcome any drop in the price of crude, it's the volatility -- the sharp fluctuations as a result of market conditions -- that we would also like to see addressed.
Automakers want top-notch quality in their vehicles because a good reputation for quality sell more cars. The pleasant side effect of high quality is spending less to repair your own vehicles. Millions of dollars can be saved per one percentage point improvement in warranty costs. Cerberus was quick to crack down on quality woes when it took over Chrysler, and the early fruit of its labor is hundreds of millions of dollars in warranty costs avoided. Chrysler cars and trucks are hitting the dealer less for repairs than before, which has resulted in a 29% drop in warranty claims for the automaker. That's good news for the cash-strapped automaker, and a big reason the privately owned company has earned $1.1 billion since the company's sale. The positive swing in warranty claims means Chrysler can appropriate less money for warranty claims in the future, giving it more money to spend on R&D, engineering, and, hopefully, interiors. If you're asking yourself, "Aren't Chrysler products close to last in J.D. Power initial quality studies every year?" you're not alone. Chrysler does tend to fare poorly in those surveys, but they concentrate more on things like cup holders, fit and finish, and general interior quality, all of which don't necessarily cost a lot to fix. The Pentastar is going to de-emphasize J.D. Power results going forward, and instead focus on the arguably more influential Consumer Reports rankings. Unfortunately, the Chrysler vehicles haven't fared very well there either, but that can always change.
We're sure there are plenty of reasons some people would want to live in New York, but it's hard to see why a car guy would want to. Forget the traffic, the kamikaze cab drivers and astronomic insurance rates. Even if you can put up with all that, where the heck are you gonna park a car? The New York Times' story, "The Ultimate Luxury: A Garage," gives us even more reason to shun The Big Apple as a place of residence. Apparently, New York houses, condos and apartments with garages command about 5% more than those that don't. In some neighborhoods, add 25%. So that means if you have a condo worth $1 million, adding a garage could get you at very least $50,000 more than your car-hating neighbors. One real estate broker estimated that a six-bedroom townhouse he's selling will bring an extra $1 million because of its car accommodations. The townhouse is priced at $18.75 million. So why aren't real estate owners on a garage-building spree? Because convincing the city's Department of Buildings that you need a curb cut is a long, trying process. The government agency approved only 54 new Manhattan curb cuts in 2008; three less than last year. And then there's the anecdote of one family paying $6,600 a year to put their car in a public lot. That's enough to convince this bunch of car guys that there are better places to call home.
BMW made it official today, after we told you about it "unofficially" last week. As expected, the German automaker is raising prices across its model range an average of 2.1 percent for the 2009 model year due to "...significant structural and economic changes in the marketplace." Regardless, the direct price increase of vehicle MSRP doesn't tell the whole story. BMW has also increased pricing on popular options (the Sport Package is up $450 on the 335i sedan and coupe) and removed some standard features (the premium Logic 7 audio system is no longer standard on the 335i -- now it's an $875 option) driving the consumer's cost even higher than it initially appears. If that isn't bad enough news for those hoping to put a Roundel in their driveway, we are also hearing rumors that BMW's latest lease residuals and money factors aren't as sweet as they were over the summer.
Thinking with their wallets, and avoiding $4.59/gallon fuel prices, truck owners in the States have been sneaking across the Mexican border to fill up with low-cost diesel (in Mexico, the fuel averages just $2.20/gallon). While filling a primary fuel tank isn't illegal, Mexico prohibits additional fuel tanks (aka auxiliary tanks) to be filled and moved across the border, so many truck owners with long-range tanks are finding themselves breaking Mexican federal law. Truck owners are getting stopped on the Mexican side of the border and their trucks are confiscated while authorities run tests to determine the origin of the fuel. If found in violation, owners face stiff fines. The Mexican Consulate is offering a blanket warning for all truck owners equipped with secondary fuel tanks to not drive those vehicles into Mexico. Not only do those owners risk truck confiscation, but the Mexican fuel is not formulated to U.S. ultra-low-sulfur regulations meaning emissions components will likely be damaged.
If you were looking at carbon fiber as the magical lightweight solution to the parallel automotive woes of low power-to-weight ratios and high fuel consumption, we have some potentially disappointing news for you. Two of the world's largest suppliers of carbon fiber have announced that they are raising their prices. And not by a little, either, with the going rate for the high-tech material rising by 10 to 30 percent in one shot.
The simultaneous announcement from Toray Industries Inc. (the #1 supplier of carbon fiber) and Mitsubishi Rayon Co. (the third largest) marks the first time both companies have universally raised their prices at the same time. The development would border on price-fixing if not for the fact that the second biggest carbon fiber manufacturer, Teijin Ltd., didn't participate. However Teijin is expected to announce its own price hike sometime this week, as well.
We all expected prices to drop as use of the exotic material became more commonplace in automotive, aerospace and commercial applications. However the rising costs of raw materials have contributed to the higher price. They're at Y4,000 (~$37) per ton now and are expect to go up by between Y400 and Y1,200 per ton. Because of the high demand for carbon fiber, the price increase is expected to take immediate effect. As for the impact on he automotive industry, it could mean price increases for cars using the material, while the development of new cars is likely to forgo employing carbon fiber in their construction for other materials like aluminum and plastic. Hopefully Honda and Nissan finish developing their mass-market carbon fiber sooner rather than later.
You can pre-pay for cellphone minutes, here in New England it's popular to lock in your heating oil price for the winter, and now you'll be able to bank gallons of gasoline on a debit card, thanks to MyGallons.com. While you're screwed out of the money if the price of fuel drops, it's not looking like that's going to happen soon. MyGallons uses your zip code to determine what price you'll pay to add gallons to your card, which is accepted just like a normal debit or credit card at most fuel stations. It's a creative way to smooth out the fluctuations in the price of fuel, and it could also be a boon to those wanting to run a tighter budget, or at least know what they'll be spending on fuel for a given time period, as they've pre-bought. Shoot, it could even be a decent gift idea for the person who has everything!
As production ramps up on the impossibly gorgeous Artega GT, parent company Paragon has announced that the compact sportscar will sell for €74,983 across the pond. The pricing makes it compelling competition for a well-equipped (and similarly proportioned) Porsche Cayman S. As we previously reported, final assembly is scheduled to begin this summer at a rate of two per day, ramping up to 20 per week for a total production run of just 500 vehicles.
Among those will be a right-hand-drive model for the UK market, as Artega establishes a British dealer base. The vehicle initially unveiled as a concept in Geneva 2007 and in production form a year later is powered by a mid-mounted, Volkswagen-sourced 3.6-liter V6 coupled to a DSG transmission. 300 horsepower driving the rear wheels is all that's needed to propel the Fisker-designed (think BMW Z8 and a handful of Aston Martins along with his own line of coach-built SLs and M6s and the Karma hybrid super-sedan) to 100 km/h (62 mph) in less than five seconds.
