Spyker Officially Bankrupt

Spyker Officially Bankrupt
Ford Bows to NHTSA, Expands Takata Recall
Takata CEO Issues Open Letter in Print Ads
Lotus Plans Evora Crossover, Convertible
Mercedes-Maybach Models Priced from $166K
Buy a Volvo, Get Four Years of Satellite Radio

Posted:

Dutch builder of high-end bespoke sports cars Spyker has been officially declared bankrupt.

Earlier this month the company announced it was starting voluntary financial restructuring, and was granted a temporary moratorium of payment to creditors. Now, the District Court of Midden-Nederland has converted that moratorium to full bankruptcy because the committed bridge funding Spyker was counting on did not reach the company in time.

Spyker originally hit the scene in 1880 and operated until 1926. The company was then resurrected in 1999 to build the C8 sports car. In 2006 Spyker tried to break into Forumla 1, then later the company tried to purchase Saab, two endeavors that didn't work out for the company. Spyker was working towards bringing the B6 Venator, an entry-level sports car, to the U.S. market.

"Over the past few years, Spyker has faced a number of serious difficulties and challenges resulting from, among others, the legacy of the F1 era and the acquisition of Saab Automobile AB," said Victor R. Muller, Spyker founder and Chief Executive Officer. "I will relentlessly endeavor to resurrect Spyker as soon as practically possible and, assuming we will be successful, pursue our goal to merge with a high performance electric aircraft manufacturer and develop revolutionary electric Spykers with disruptive sustainable technology," said Muller.

Discuss this story at our luxury lifestyle forum

Ford Bows to NHTSA, Expands Takata Recall

Posted:

Ford has agreed to expand its Takata airbag recall at the request of the National Highway Traffic Safety Administration (NHTSA).

This new recall expansion affects 447,310 vehicles, bringing the total number of Ford vehicles affected by the airbag problem to 538,977. The expanded recall affects the 2005 through 2008 Ford Mustang built between Aug. 18, 2004 and June 25, 2007, and the 2005 through 2006 Ford GT built between Feb. 11, 2005 and Jan. 30, 2006.

The issue has to do with the airbag inflator, which can rupture. If this happens, the airbag can hurl metal shards at the passengers of the vehicle. So far, five deaths and 50 injuries have been attributed to the faulty airbags across all of the brands that use them. Ford says it only knows of a single injury that occured in its vehicles as a result of a Takata airbag.

Discuss this story at our Ford Forum

Takata CEO Issues Open Letter in Print Ads

Posted:

In the midst of a crisis over defective airbags, Takata's CEO has issued an open letter to the public.

The letter was published in both U.S. and German newspapers to explain to the public exactly where the Japanese company stands on the slew of recalls and to ensure that Takata is working to fix the issue. Still, the company will not agree to the National Highway Traffic Safety Administration's (NHTSA) call to expand the driver-side air bag recall to an additional 8 million vehicles across the U.S.

Thus far, Takata says there is no scientific evidence to back up NHTSA's claim that the recall should be put in place across the country. Initial findings blamed humid weather for the issue, but now, NHTSA has reports of airbag faults in non-humid areas and consequently says that the recall needs to be undertaken across the whole country. So far, Mazda, Honda and Ford have all complied with NHTSA's request for a country-wide recall while Chrysler and BMW have only issued regional recalls in southern States.

This week, NHTSA pledged to force automakers to recall cars across the country fit with driver-side Takata airbags.

In affected vehicles, the airbag inflator can rupture which may result in metal shards being flung at the passengers of the car in the event of an accident. Since 2013, 11 million vehicles have been recalled over Takata airbags, which have been linked to five deaths and 50 injuries, most of which occurred in high-humidity areas.

In the letter, CEO Shigehisa Takada says that the company is ramping up production of replacement units, and that Takata supports NHTSA in investigating the issue further. "In tackling all these challenges, Takata will work in unison with automakers to advance our common goal of putting the safety of consumers first. I am personally committed to do what is necessary for Takata to regain the full confidence of the public and our customers" finishes the letter. Click here to read the open letter.

Lotus Plans Evora Crossover, Convertible

Posted:

Lotus is working to revamp the Evora sports car, and it looks like crossover and convertible variants are part of the plan.

According to Car Magazine, Lotus plans to jack up the Evora, sort of like Audi did with its TT Offroad concept. It won't be a hardcore off-road model as it will remain rear-wheel drive, but the Evora crossover will benefit from increased ride height and revised styling. The company hopes to expand its mass-market appeal in the US and China thanks to the new soft roader.

Lotus also plans to bring a revised 2015 Evora to the 2015 Geneva Motor Show. "It will be lighter and it will be faster: there's nothing this side of £100,000 that will beat it on a track – unless it's another Lotus," said Jean-Marc Gales, Head of Lotus Cars. A followup to the hardcore 2-Eleven track special is also said to be in the works, along with a convertible version of the Evora.

Changes coming to the 2015 include a slimmer door sill for easier ingress and egress along with more power.

[Source: Car Magazine]

Discuss this story at our Lotus Forum

Mercedes-Maybach Models Priced from $166K

Posted:

Mercedes' new range-topping model was revealed at the 2014 LA Auto Show, but putting it in your driveway won't come cheap.

The starting price tag for the new S500 Maybach is 134,053 Euros ($166,700), while the S600 Maybach will set you back at least 187,841 Euros ($231,194). Power for the S600 comes from a 6.0-liter twin-turbo V12 engine that makes 523 hp and 612 lb-ft of torque, while a smaller twin-turbo V8 is fitted to the S500, putting out 455 hp.

The Maybach is longer than a standard S-Class and offers more high-end bespoke features such as an on-board bar that comes with two silver champagne flutes. Mercedes is looking to compete in the high-end chauffeur market against the likes of Royce and Bentley.

GALLERY: 2016 Mercedes-Maybach S600 Official Photos

Discuss this story at our Mercedes-Benz forum

Buy a Volvo, Get Four Years of Satellite Radio

Posted:

Buyers of new 2015.5 Volvo models will get a nice added bonus.

The Swedish automaker will include a four-year subscription to SiriusXM traffic and weather information to those purchasing a 2015.5 Volvo vehicle equipped with the newest generation of Volvo Sensus Connect. A standard monthly subscription to SiriusXM Traffic and Weather costs $5.98, so it's a nice added bonus for those doing some holiday car shopping. SiriusXM Traffic and Weather can be displayed through the Volvo Sensus Connect infotainment screen, providing traffic speed and flow information in addition to detailed accident information.

In addition to traffic updates, SiriusXM allows its customers to view local and national weather radar maps, on-screen weather alerts, storm information and even check current and detailed five-day forecasts.

GALLERY: 2016 Volvo XC90