Range Rover

Mitsubishi Motors North America has announced pricing on the new 2010 Mitsubishi Lancer Sportback GTS and Ralliart, both models, which are set to arrive at dealerships on Aug. 17.

Make the jump for the press release.




Press Release:

Mitsubishi Motors Announces Pricing for Versatile Five-Door Lancer Sportback; Newest Model Begins Arriving in Dealerships Aug. 17

Mitsubishi Motors North America (MMNA) today announced pricing for its newest addition to the multiple award-winning Lancer lineup - the versatile five-door 2010 Lancer Sportback GTS and Ralliart. The Lancer Sportback carries with it similar distinctive and aggressive styling as the rally-inspired Lancer Evolution, yet with greater flexibility to accommodate active lifestyles.

The economical Lancer Sportback GTS features Mitsubishi’s efficient 2.4-liter engine with 168 horsepower and 167 pound-feet of torque. MSRP for the GTS with a five-speed manual transmission is $19,190, while the six-speed CVT automatic transmission with magnesium paddle shifters starts at an MSRP of $20,190.

The Lancer Sportback Ralliart is powered by Mitsubishi’s 2.0-liter MIVEC turbocharged engine that pumps out 237 horsepower and 253 lb.-ft. of torque. All-Wheel Control (AWC) with Active Center Differential (ACD) is standard, as is the quick-shifting six-speed Twin Clutch-Sportronic® Shift Transmission (TC-SST) and magnesium paddle shifters that it shares with the high performance Lancer Evolution. The Lancer Sportback Ralliart starts at an MSRP of $27,590.

“Today’s new car buyers are moving toward smaller, fuel efficient cars, and yet, there is still a need for cargo capacity. The Lancer Sportback’s carrying capacity, coupled with a more aggressive design than contemporary hatchbacks, perfectly fills the void,” explains Bryan Arnett, manager of product strategy of MMNA.

Mitsubishi designers created a dynamic and fluid shape for the Sportback that is instantly recognizable as a Lancer from the front, with its signature “jet fighter” grille, while being completely fresh from the C-pillar rearward. The sleek sloping rear door with integrated roof wing creates a visually distinctive shape while making the Lancer significantly more versatile. The door extends down to the rear bumper to make loading cumbersome objects like surfboards, camping gear and bicycles as easy as possible.

The Lancer Sportback’s overall length is just slightly longer than the Lancer four-door sedan, yet it gains substantial cargo-carrying flexibility–especially when the 60:40-split rear seats are folded flat by its one-touch auto-folding feature. To add still more volume, the rear cargo floor of the GTS can be cleverly lowered three inches, yielding 52.7 cubic ft. maximum cargo space. The roof will also conveniently accommodate a plug-in Thule® Sport Rack for additional flexibility.

Premium interior features like those found on the Lancer sedans are also part of the Sportback’s resume. Key components in the Ralliart version include a standard 140-watt CD/MP3 audio system with six speakers or an available 710-watt Rockford-Fosgate Premium Sound System, in-dash CD changer with MP3 capability, plus Sirius Satellite Radio. A hard disc-drive navigation system with Mitsubishi’s exclusive Diamond Lane Guidance to provide route guidance is optional, as are Recaro sport seats that provide optimal support for the driver and front passenger.

Safety Features
Standard safety features in all Lancer models include an advanced dual front air bag supplemental restraint system (SRS) with occupant sensors, front seat-mounted side-impact air bags and side curtain air bags, plus a driver’s knee air bag. Active Stability Control (ASC) also comes on every Lancer Sportback, and the GTS is equipped with Reinforced Impact Safety Engineering (RISE), a unibody construction designed to help absorb energy in a collision. Every Lancer Sportback has a built-in Anti-Theft system with immobilizer key, and the Touring Package adds HID (high intensity discharge) headlamps.

Premium Warranty
The 2010 Lancer Sportback GTS and Ralliart have comprehensive bumper-to-bumper warranties. The GTS comes with a 10-year/100,000 mile powertrain limited warranty with a fully transferable 5-year/60,000 mile warranty for subsequent owners, and a 5-year/60,000 mile bumper-to-bumper limited warranty. The Ralliart offers a fully transferable 5-year/60,000 mile powertrain package and a 3-year/36,000 mile bumper-to-bumper limited warranty. Both the GTS and Ralliart come with a 7-year/100,000 mile anti-corrosion/perforation limited warranty and 5-year unlimited miles Roadside Assistance benefits.

2010 Mitsubishi Lancer Sportback to begin arriving to dealerships on this 17 August.

2010 Mitsubishi Lancer Sportback GTS : Key Specifications

• Engine: DOHC MIVEC 2.4-liter inline 4
• Horsepower: 168 @ 6,000 rpm
• Torque: 167 lb.-ft. @ 4,100 rpm
• Transmission: CVT with INVEC-III and steering column-mounted magnesium shifter paddles or five-speed manual
• Dynamics: Active Stability Control (ASC) with Traction Control (TCL)
• Wheels: 18 x 7.5 in. cast alloy
• Tires: 215/45R18 Dunlop All-Season tires

via:egmcartech

To paraphrase the bulk of the comments concerning the most likely phony Porsche Cayman Shooting Brake post, "It's really ugly and we hate it." Yes, well... that's an opinion. But rather than wax long form about our implacable love of all things two-door wagony, check this sucker out!


Because of the sheer volume, it's hard for us to keep up with every single comment on every single post. However, sometimes the comments on a certain post are so, um, compelling, we watch 'em like our mother watches One Life To Live.


It is a Porsche 924 Shooting Brake, called the 924 Kombi, but sadly, we know very little about this custom three-door. However, here's what we're sure of: It's got a big turbo, weighs 2,871 pounds and has room for our dog, our stuff and our wife's stuff.


Talk about a perfect weekend getaway mobile. We think we might lust for the 924 Kombi almost as much as we drool over OG M Coupe. Almost. Which is a hell of a lot of drool.


via:autoblog

Burti was in Budapest at the time and was reportedly one of the first to visit Massa in hospital.

"Looking at the pictures of my helmet, we can see that if it was made of carbon fibre, like they are today, the damage would have been less significant.

"This shows the merit of the FIA and helmet constructors on improving drivers' safety," he added.


Burti was in Budapest at the time and was reportedly one of the first to visit Massa in hospital.

"Looking at the pictures of my helmet, we can see that if it was made of carbon fibre, like they are today, the damage would have been less significant.

"This shows the merit of the FIA and helmet constructors on improving drivers' safety," he added.


Helmets have been improved in the last eight years, but more work could make them even safer, according to former grand prix driver Luciano Burti.

Some will best remember the now 34-year-old Brazilian for his huge accident at Spa-Francorchamps in 2001, when he survived a head-on shunt into the barriers in his Prost.

On his official website, Burti has now revealed photographs of the damage sustained to his helmet in the crash. A frontal angle depicts a gaping hole in the chin section.

"After Felipe's accident at the Hungaroring, I can see the helmet's evolution since my accident in Belgium 2001," he said, referring to his countryman Massa who sustained head injuries when struck on the helmet by debris in a qualifying incident nearly two weeks ago.
via:worldcarfans

Devon Motorworks has announced their new GTX supercar has set a one-lap production car record at Laguna Seca.


The stunning event occurred during a private test session, where the GTX posted a lap time of just 1:35.075. This compares with rough estimates that put the Nissan GT-R's lap time at 1:39.62 and the Porsche 911 Turbo's time at 1:39.89.


According to the company's founder, Scott Devon, "The Laguna Seca test session showed us just a glimpse of what the Devon GTX is capable of from a performance perspective. Through further validation and testing, we know this car is capable of even greater lap times and making an even stronger statement about the future of the American supercar."



Look for more information to be released when the Devon GTX is officially unveiled at the Pebble Beach Concours d'Elegance on August 15.


More Photos


Press Release

Just Prior to its Public Introduction at the 2009 Pebble Beach Concours d'Elegance, Devon GTX Sets One-Lap Record at Laguna Seca

Public, press to see first glimpse of American supercar on hallowed Pebble Beach grounds - Production to begin in first quarter of 2010

The all-new Devon GTX supercar has yet to be introduced to the public but that didn't stop it from making news. In testing at the famed Mazda Raceway at Laguna Seca, the first vehicle from California-based industrial design house Devon Motorworks (devonmotorworks.com) turned in a production car lap record time of 1:35.075. Already recognized for its breakthrough design, the Devon GTX record lap demonstrates the GTX will stand on its own with the world's best supercars.

While this testing session was closed to the public, the rest of the world will see the Devon GTX in person for the first time when it makes its debut at the Pebble Beach Concours d'Elegance on August 15, 2009.

"The Laguna Seca test session showed us just a glimpse of what the Devon GTX is capable of from a performance perspective," said Devon Motorworks CEO and founder Scott Devon. "Through further validation and testing, we know this car is capable of even greater lap times and making an even stronger statement about the future of the American supercar."

The test session at Laguna was the most recent in a series of rigorous validation sessions for the Devon GTX as the team builds to its public introduction in mid-August at the famed Pebble Beach event.

"There is no more important event in the world for cars in this class," Devon added. "We realize that - by introducing the Devon GTX at the Concours d'Elegance - we are asking the world's automotive elite to bless this car. With its bold design and outstanding performance characteristics, we are quite confident we will earn their approval."

Two key activities will highlight an exciting weekend for the Devon GTX:

* On Saturday, August, 15, media will get the first live look at the Devon GTX at a press event on the Concours Ramp at the Lodge at Pebble Beach. The event will be hosted by Scott Devon and will feature key members of the Devon Motorworks team. Pricing and specifications will also be revealed at the event
* The following day, on Sunday, August 16, 2009, visitors to the Concours d'Elegance will see the Devon GTX as it takes its place next to some of the most exciting classic and all-new marks on the famed putting green at Pebble Beach Golf Links.

Following an exciting and busy weekend, the Devon Motorworks team will return to its Los Angeles headquarters to prepare the first production vehicles for sale to the public. The first Devon GTX will make its street introduction in the first quarter of 2010.

As it's always the case with Audi, this R8 commercial is inspired, to say the least. The concept is simple. It shows the beauty and the beast that hide under the skin of the Audi R8. Watch the new Audi R8 commercial in the video after the jump.
via:zercustoms

According to Toyoda, two of the most eagerly anticipated (non-hybrid) vehicles from Toyota in years are moving ahead at full steam. First of all, the seemingly forever-delayed Lexus LF-A sportscar is back on track and headed Stateside. Secondly, Toyoda reconfirmed earlier reports that the planned affordable sportscar made in partnership with Subaru is on its way within the next few years. Finally, change we can believe in!


There's a new sheriff in town at Toyota, and he's wasting no time in making his presence felt at the World's Largest Automaker. Fortunately, that finally means a return to building fun-to-drive cars after years of offering virtually nothing to tempt the enthusiast market. We can only hope that some of that sporting DNA finds its way into the rest of the automaker's staid lineup as well.


"The severe drop in the economy and auto market has created some of the most challenging times Toyota has ever faced," says new Toyota Prez Akio Toyoda. "I aim to take us back to what made Toyota successful for many years – making high-quality products at an affordable price."
More Photos

Following closely in the footsteps of its rival from Maranello, Lamborghini CEO Stephan Winkelmann has confirmed in an interview with German Automobilewoche magazine that the Italian purveyor of high-end supercars is working on a hybrid Gallardo. Not surprisingly, the electrically assisted Bull is expected to hit the market in 2015 – the same year as the upcoming fuel-saving Ferrari.


In contrast to the recently announced fully electric SLS Gullwing from Mercedes-Benz, Lamborghini's eco-friendly efforts won't include replacing the traditional gasoline powerplant completely. Instead, Winkelmann suggests that a small electric motor would be used solely to get the car moving at low speeds, after which either the expected V10 or V12 engine would kick the fun into high gear.


Worry not, Lambo fans – there's no chance the company will lose focus on its high performance roots. In fact, the boys at Inside Line report that both the Gallardo and Murcièlago lines are destined to receive dedicated track-ready Balboni-style rear-wheel drive models to augment the automaker's already amazingly capable all-wheel drive supercars.
More Photos

The design revolution at Kia Motors continues. On the heels of the successful introduction of all-new vehicles such as the Soul, Cerato (Forte) and Cerato (Forte) Koup, images of the 2010 model year Rio and Picanto – Kia’s two popular subcompact offerings – have been circulating on the web.


Small styling changes to Picanto will give it a ‘fresh face’, with exterior enhancements including two-tone bumper and waistline body color molding as standard. The Sports Pack features the signature family-look Kia grille and sportier front/rear bumpers and side sill molding. The 2010 Picanto will also be available in a new exciting color – Lime – and 15” black flower alloy wheels are offered as an option.

Meanwhile, the interior features from a new four-spoke steering wheel, new instrument cluster and improved seat trims. Equipment changes will highlight the greater differences between the LX, EX and Sport variants for 2010.


Like the Picanto, the 2010 Rio’s cabin will feature a new steering wheel and cluster, plus a new centre stack and a ‘shift-up’ indicator to aid economical driving, which will also be enhanced by the fitting of electric power steering. A new-look nose treatment will introduce Kia’s ‘signature grille’, together with new headlamps, fog lamps and front bumper. The 2010 Rio also features a wind rear diffuser similar to that on the Cerato (Forte) Koup.


Full details of the upgraded 2010 Kia Picanto and Kia Rio model ranges will be revealed closer to their ‘on sale’ dates.
via:thaiautomaxx

Even though we're getting very close to the Ghost's official launch date, Rolls Royce continues to polish up its all-new "baby" Phantom that was scooped here in production-ready form testing in Germany. Sans the black tape on the grille, the prototype model was completely undisguised and unless we're missing something, the Ghost is virtually unchanged from the 200 EX concept study that was unveiled at this year's Geneva Salon.


The production model retains the prototype model's suicide rear doors as well as the brushed aluminum bonnet and A-pillars that will most likely be offered as an option when sales begin in Europe in late 2009 and the rest of the world, from the second quarter of 2010.

Measuring just under 5,4 meters in length, the Ghost is 187 mm longer than a LWB 7-Series (5,212 mm) but almost half-a-meter shorter than the Phantom (5,83m).

The Phantom's baby brother will be offered with a newly developed 6.6-litre turbocharged V12 engine coupled to an 8-speed automatic ZF gearbox. The V12 produces an output of 570 horsepower at 5,250 rpm and a maximum torque of 780Nm (575 lb-ft) at just 1,500 rpm.


Rolls Royce has revealed that the Ghost will accelerate from 0 to 60mph 4.7 seconds (0-100km/h in 4.9 seconds) and reach an electronically governed top speed of 155mph or 250km/h.

The BMW Group owned British automaker also announced that the Ghost will be equipped with "intelligent" four corner air suspension system and multi link aluminum front and rear axles. The company claims that hat the newly developed air suspension system is so sensitive that it can detect even the smallest of changes, including the movement of a single rear passenger from one side of the seat to the other compensating accordingly.
Source:carscoop

BMW has confirmed rumors that the company is creating a fourth brand.

In a statement released by BMW CEO Norbert Reithofer, he said that "The Board has now decided: This auto (Project i/ Megacity Vehicle) will be launched on the market as a sub-brand of BMW. As BMW is the innovation driver within the Group, the decision for a sub brand under BMW is the most logical step."


Set to tackle Daimler's Smart, the new "i-Setta" brand will try to mix urban hipness with eco-consciousness. According to a BMW Blog source, "i-Setta will be a reimagining of the original cult classic using today's and tomorrows technology to provide urban mobility and sustainability in a lovable modern design wholly inspired by the original." While the original 1955 Isetta only had one door and a 13 hp (10 kW) engine, the new car will likely boast at least two doors and more powerful fuel efficient engines.


In perhaps the most telling move of all, BMW has released a new Isetta video campaign to promote their museum. In essence, they're reminding consumers about the Isetta before launching the new brand.


More Photos

In the last episode of this series of Top Gear Mr. Clarkson reviews the new Aston Martin V12 Vantage. The Aston Martin V12 Vantage had its premiere at the 2009 Geneva auto show and will hit the streets sometime towards the end of the year. The Aston Martin V12 Vantage hides under its highly vented bonnet a 6.0-litre V12 powerplant that develops 517 PS and 570 Nm of torque. The top speed of the Aston Martin V12 Vantage is 305 km/h and the car is able to get from 0 to 100 km/h in 4.2 seconds.
via:zercustoms

On-the-road prices have been set at £22,030. Aside from the new white finish, two other options remain available for the SportVan, Panther Black with silver stripes, and Sea Grey with silver stripes.


In what could be described as the "white van man's" ultimate drive, Ford UK has launched a special edition version of its Transit SportVan in white with Le Mans-style blue bonnet stripes that will be produced in a limited run of just 80 units. In par with the classic Transit SportVan livery of Performance Blue with white stripes that is currently sold out, the white SportVan is spec'd up with twin exhausts, 18-inch alloy wheels wrapped in low profile 235/45 tyres, front and rear lower spoilers, side skirts and extended wheel arches.


The model is based on the short wheelbase Transit with front wheel drive and is powered by a 140 HP 2.2-litre TDCi diesel engine that is linked to a six-speed manual gearbox.


The Transit SportVan's interior features include velour trim, air conditioning, six CD-player with remote 'steering-column'-mounted controls, cruise control, power windows, power and heated mirrors, leather steering wheel, tinted glass, leather gearshift knob and a perimeter alarm.


via:carscoop

Porsche Exclusive starts with a collection of special materials - wood, aluminum, carbon and leather - with which to perform the personalization deed. The wood is Yachting Mahogany, and, yes, yacht-ness is where you want to go with this Gran Turismo. Just have a look at the pics. The theme is featured is the the grab handles on the roof as well as in the 3-spoke steering wheel.


On the Porsche Tequipment side, there is another series of options, including a 10.5 liter cooler between the two rear seats, as well as specially-designed air intake grids at the front and air outlets on the wings behind the front wheels (no photo available).


The interior is also furnished by louvers on the air vents, sun visors and elsewhere, along with trim covers on the steering column and seat console all in top-quality leather. The instrument panel and the Sport Chrono stopwatch come in a choice of various subtle and flourishing colors.

via:worldcarfans


Press Release

Wide Range of Customisation Options for the Porsche Panamera

Porsche Exclusive and Porsche Tequipment offer Gran Turismo tailored to the Customer

Through Porsche Exclusive and Porsche Tequipment, Dr. Ing. h.c. F. Porsche AG, Stuttgart, enables the customer to refine and personalise all Porsche models individually and exclusively to his or her particular wishes beyond even the sophisticated range of standard features. The new Panamera is no exception to this rule, again giving the customer the option to turn the car into a truly unmistakable one-off masterpiece by means of Exclusive features fitted straight at the factory or Tequipment components fitted later by the dealer.

In personalising Porsche's new Gran Turismo, the focus is not only on using the very best materials such as leather, wood, aluminium or carbon, but also and in particular on their perfect finish. The most important principle applied by Porsche Exclusive is therefore craftsmanship of the highest standard perfectly tailored to the individual customer. Which, wherever necessary, also means stitching and threads applied with painstaking care by hand.

The many years of experience offered by the specialists at Porsche Exclusive come out particularly in the manual finish of top-quality wood perfectly highlighting the individual character of this sophisticated material. Yachting Mahogany, an inspiration from exclusive yacht building, is particularly exquisite and is available for the Panamera only through Porsche Exclusive & Tequipment. Light maple-wood inlays in dark mahogany provide a stylish contrast, the Yachting Mahogany Interior Package with trim panels on the dashboard and the doors as well as trim covers on the centre console all upgraded in this beautiful wood therefore offering an absolute highlight in the Exclusive & Tequipment range.

Grab handles on the roof lining as well as the three-spoke multifunction steering wheel (without maple-wood inlays) in Yachting Mahogany form a perfect match, adding the final touch to this unique finish.

Within the interior, Porsche Exclusive again offers a wide range of further options. The louvers on the air vents, the sun visors, the interior mirror, the trim cover on the steering column and the seat console front and rear, for example, are all available in top-grade leather. The Interior Package, in turn, comes on request with individual elements and components finished in body colour, including the louvers on the air vents and even the key to the car. The Porsche logo on the headrests, an option very popular on both Porsche's sports cars and the Cayenne and available on either the front or the front and rear seats, is obviously another absolute must for the Panamera.

Models with double-clutch transmission, the PDK Porsche-Doppelkupplungsgetriebe, are available with a gear selector lever in unique design made of aluminium. The instrument faces and the Sport Chrono stopwatch come on request in Luxor Beige, Indian Red and Carrara White providing particular highlights in colour. As matching elements, the seat belts are available in Silver Grey or Indian Red. And last but not least, the truly discerning customer has the choice of illuminated and non-illuminated door cutout trims proudly bearing the respective model designation and made of either carbon or brushed aluminium.

Yet a further highlight in the wide range of Exclusive and Tequipment features for the new Panamera is the cooling box with a capacity of 10.5 litres positioned between the two single seats at the rear. Switching on and off on demand, the cooling box reduces temperatures to approximately 6o C for cool refreshments whenever desired. Two stylish glasses bearing the Porsche logo and the name Porsche naturally come together with the box.

The new Porsche Panamera is available straight from the factory with Porsche Rear Seat Entertainment, a newly developed entertainment system comprising two high-resolution seven-inch colour displays integrated in the backrests of the front seats, as well as individual players and two cordless infra-red headsets. The leather-covered display consoles each come with a USB interface, while the whole system is controlled by touchscreen operation. Immune to vibrations, the Porsche Rear Seat Entertainment System plays both DVDs and CDs in maximum quality, with connections for two separate, individually controlled AV sources as well as a game console or an iPod®.

The sporting and elegant look of the Panamera from outside may be further enhanced by air intake grids at the front finished in body colour as well as air outlet grids in the car's wings behind the front wheels also in body colour, plus the lower rear panel and diffuser again finished in the same colour as the car's body.

Meeting even the greatest transport demands efficiently and conveniently, Porsche Tequipment offers all kinds of racks and attachments for the Porsche roof transport system carrying various kinds of leisure-time equipment. A rear-end bicycle rack made of aluminium and finished in matt black is also available, fitting on to the optional towbar at the back of the Panamera and safely transporting up to two bicycles. With its optionally available extension, the rack can even accommodate up to three bicycles whenever necessary.

Apart from new Porsche child seats, a complete set of cases and bags tailored to the luggage compartment and a 12 V cooling bag, Tequipment also offers a wide range of audio and communication features for the new Panamera, interior packages, steering wheels in carbon or wood as well as a special wheel and tyre combination for summer and winter driving ranging in size from 18 to 20 inches, all for individual retrofitting on the car.

Starting immediately, the Panamera Exclusive Catalogue is available at all Porsche Centers, with the Tequipment Catalogue following in September 2009. Information on the full range of Porsche Exclusive & Tequipment is already available to interested customers today at all Porsche Centers.

The first real world photos of the SV 9 Competizione have been released by SV Motor Co.

Power comes from the Corvette's LS3 V8 engine which has been tuned to produce 450 hp and 445 lb-ft of torque. The modest increase in power (14 hp) comes from a revised air intake and a custom-tuned ANSA exhaust which is modeled after the Ferrari Daytona and 599 GTB. The SV Motor Company estimates this will enable the SV 9 to rocket from 0-60 mph in 4.0 seconds and run the quarter-mile in 12 seconds flat.


Based on the Chevrolet Corvette, the Competizione blends American performance with Italian style. The exterior features an odd mix of shapes while the interior boasts carbon fiber reinforced seats, Italian leather upholstery, and burlwood or carbon-fiber trim.


To ensure the Competizione handles like a proper Italian exotic, SVMC adds a specially tuned sports suspension, a high performance braking system, and Pirelli P-Zero Rosso ultra performance tires.

Priced at $99,995 (€69,402), SV 9 production will be limited to 1,000 units.
More Photos

Understatement of the Year: It's been a rough 2009 for General Motors. The 101 year-old automaker lost billions of dollars in record time, its market share plummeted, and overall sales were down over 30%. Oh, and the General had to ask for billions in loans from the US government before ultimately going through bankruptcy. A bad year indeed.


The fact that GM went through these tumultuous times without a leasing program made matters even worse, but that's about to be rectified. GM is teaming up with US Bank on a pilot leasing program in Michigan, Ohio, New Jersey, New York and Connecticut. Already underway and set to run through August 31, the program will only apply to certain vehicles. The 2009 Chevy Malibu and Traverse, along with the Cadillac CTS and 2010 Cadillac SRX are included, joining the Buick Enclave, GMC Acadia and Chevy Equinox.


While the program is regional for the time being, the launch of the SRX will be accompanied by a nation-wide lease program through US Bank. Mark LaNeve, GM's vice president of U.S. sales, feels the SRX lease will help launch the new luxury crossover. "Leases are an important part of the luxury market, so we decided that launching the all-new 2010 Cadillac SRX crossover with a national lease will add a lot of excitement." Hit the jump to read over the GM press release.


More Photos



PRESS RELEASE:

GM Announces Lease Program - Provides an Additional Consumer Financing Option for New Vehicle Purchases

* U.S. Bank offers rates on select Cadillac, Buick, GMC and Chevrolet models
* Five-state pilot program covers eight models
* All new 2010 Cadillac SRX lease available nationally

Detroit – General Motors Company announced an expansion of leasing today with enhanced lease programs on select 2009 and 2010 Cadillac, Buick, GMC and Chevrolet models. The leases, offered by U.S. Bank, are part of a pilot program that includes select GM vehicles sold in New York, New Jersey, Connecticut, Michigan and Ohio. In addition, a lease on the all-new Cadillac SRX will be offered by U.S. Bank nationally. The pilot is currently planned to run through August 31, 2009.

"GM and our dealers have done an incredible job without a leasing program throughout this difficult economic period, but we always knew that we would get back into leasing as it is important to a certain group of our customers," said Mark LaNeve, GM vice president of U.S. sales. "We have a number of products that offer a great opportunity for a lease option. Also, leases are an important part of the luxury market, so we decided that launching the all-new 2010 Cadillac SRX crossover with a national lease will add a lot of excitement."

"U.S. Bank has one of the largest auto loan and lease programs in the nation. We have supported the auto industry for more than 50 years, and this is an example of our continued commitment to the industry," said Tom Wirth, who leads indirect lending at U.S. Bank.

Initially, lease offers will be available on the 2009 Cadillac CTS, Chevrolet Malibu and Traverse. For 2010 models, leases will also be available on the Cadillac SRX, Buick LaCrosse and Enclave, the GMC Acadia and the Chevrolet Equinox. Monthly payments will vary according to the customer's down payment and the first month's payment due at signing, but are expected to be very competitive. No security deposit will be required.

For more information, customers in the five lease states (New York, New Jersey, Connecticut, Michigan and Ohio) should visit their local Cadillac, Buick, GMC or Chevrolet dealer.

About General Motors: General Motors Company, one of the world's largest automakers, traces its roots back to 1908. With its global headquarters in Detroit, GM employs 235,000 people in every major region of the world and does business in some 140 countries. GM and its strategic partners produce cars and trucks in 34 countries, and sell and service these vehicles through the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel, Vauxhall and Wuling. GM's largest national market is the United States, followed by China, Brazil, the United Kingdom, Canada, Russia and Germany. GM's OnStar subsidiary is the industry leader in vehicle safety, security and information services. General Motors Company acquired operations from General Motors Corporation on July 10, 2009, and references to prior periods in this and other press materials refer to operations of the old General Motors Corporation. More information on the new General Motors Company can be found at www.gm.com.

About U.S. Bank: U.S. Bancorp (NYSE: USB), with $266 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,850 banking offices and 5,173 ATMs in 24 states, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.