government
Government Cracking Down on Imported Nissan Skylines
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The federal government, under the jurisdiction of Homeland Security, started investigating the importation of grey-market Nissan Skylines, tracking down their owners and even seizing the cars. According to import laws, only a select few R33 Skylines from 1996 to 1998 can be legally brought to U.S. shores. The rest came by an importer that failed…
Lamborghini Countach Seized By Canadian Government At Auction For $58,000
The government of Canada is auctioning off a Lamborghini Countach, with bids starting at the low price of $58,000. The vehicle was forfeited to the Canada Revenue Agency (the Canadian IRS) with only 54,000 miles on the clock. The vehicle was originally listed for an opening price of $70,000 but failed to get a single…
Car Czar: GM IPO Price Undervalued At $29
Steve Rattner, who oversaw President Obama’s auto industry bailout, told Bloomberg News that GM’s Initial Public Offering share price was undervalued. “There is definitely a greater level of confidence in the ability of the carmakers to perform,” Rattner said at an Automotive Press Association event in Detroit. “That’s because of the profit numbers.” According to…
Dealers Investigated For “Cash For Clunkers” Fraud – $94 Million At Stake
The United States Federal Government’s cynical Keynesian vehicle scrappage program scheme was by all accounts a success (if you believe that blind consumption is a win), but some dealers apparently skirted the rules, and now the government is looking for dealers who may have gamed the system – and may withhold $94 million in rebates…
Honda Halts Production In China Due To Strike At Parts Plant
Honda was forced to shut down all four of its Chinese car plants, after 1,850 workers at an auto parts plant went on strike over wages. The strike is reported to have crippled Honda’s production capability in what is now the world’s largest car market. The lack of parts means that Honda is unable to…
Nissan Expresses Worries Over Limited Nature Of Electric Car Subsidies
As Nissan strives to sell the Leaf electric car at an affordable price point, the company is expressing concerns that the current subsidies offered by governments to encourage EV adoption will expire after three years, hurting sales and pushing the cost of electric vehicles back into unattainable territory. “My assumption is that they won’t be…
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