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New CAFE proposal would add $5,000 to sticker price, dealer group says

An Obama administration proposal to nearly double today's fuel economy standards could end up tacking on $5,000 to the sticker price of a new vehicle, a top official with the National Automobile Dealers Association said Tuesday. The proposal, which seeks to raise the corporate average fuel economy to 54.5 mpg by the 2025 model year, would force automakers to adopt costly fuel-saving technologies that could eventually price some buyers out of the new-car market, said Don Chalmers, chairman of NADA's government relations committee. NADA, a dealer trade association, represents 16,000 new-vehicle dealers who operate 32,500 franchises.

MINI Paceman debuts in Detroit

The MINI Paceman debuts in Detroit The MINI Paceman debuts in Detroit   The fact that MINI has put together yet another concept – the MINI Pacemen –  comes as no surprise (especially as MINI sent us details of the MINI Paceman last month). In fact, the launch of the MINI Countryman last year arguably gives MINI the ability to double their range over time by making more versions of the supersized MINI to add to the seemingly endless versions of the original BMW MINI which litter the roads. And that’s exactly what the MINI Paceman is – a concept based on the MINI Countryman.

Chrysler first-quarter profits down

Chrysler Group said net income fell to $166 million in the first quarter as costs of two large product launches crimped the automaker's seventh consecutive quarterly profit. Profit fell 65 percent from the $473 million posted during the same quarter of 2012, Chrysler said in a statement today. First-quarter revenues dropped 6 percent to $15.4 billion.