After passing through both the Senate and the House, the Cash-for-Guzzlers bill has been signed by President Obama. Known also as Cash-for-Clunkers, the official name of the legislation is CARS – the Car Allowance Rebate System.

Vehicles that are traded in must get 18 mpg or worse and be newer than 25 years old. For those who trade in their guzzler for a vehicle that gets (on average) 4 mpg more will receive a $3,500 voucher toward the new car, while those who choose a vehicle that gets 10 mpg more than their current auto will receive the full $4,500.

The rules are slightly different for trucks as the full $4,500 voucher will be available for gas guzzling trucks when traded in on a new truck that gets 5 mpg more.

The hope is that this new legislation will boost auto sales. Similar initiatives (but which target old cars and not gas guzzling ones) have been a huge success in countries like German.

The CARS act will take effect at the end of July.

Those looking for more info can visit the CARS website here:

http://www.cars.gov/

[Source: Automotive News via Autoblog]

Porsche has no immediate plans to bring a more-entry level sports car to market, according to the German automakers sales and marketing boss. Klaus Berning told Australia auto pub Carsguide that any such plans to develop a “speedster” model have been put on hold indefinitely. Berning also said that Porsche has no plans to expand its product lineup from four to five models.

Instead Porsche wants to concentrate on pushing the Panamera while it also seeks to take control of Volkswagen.

Berning said that even with the current product line Porsche has significant growth left and he feels it can expand sales from roughly 100,000 units in 2008 by anywhere from 20 to 40 percent.

As for if a four-cylinder could join the Porsche lineup, Berning said it was not impossible and did say that it would have to be Porsche developed (and not an Audi powerplant). Quite surprisingly, he also said it Porsche did develop a four-cylinder engine it would most likely be used in the 911 – and not in the Boxster or Cayman.

[Source: Carsguide]

Audi has yet to confirm if the A5 Sportback model will make it to North America, but the German automaker did bring at least one of the upcoming cars over for a photo shoot. These pictures, snapped a student at the University of California San Diego, show a completely undisguised A5 Sportback during a photo shoot on the campus. And we have to say it looks pretty good.

Audi has only released one teaser image of the car and so these are the first full photos available.

Information on the A5 Sportback is still limited but we do know that it will be offered with five different engines in Europe. The gasoline engines are, as expected, the 2.0 TFSI engine making 211hp and 258 ft-lbs of torque and the 3.2-liter V6 with 265hp. As for the diesels, they include the 2.0 TDI with 170 and 258 ft-lbs of torque, the 2.7 TDI with 190hp and 295 ft-lbs of torque and a 3.0-liter V6 TDI with 240hp and a massive 369 ft-lbs of torque.

As for cargo capacity, Audi says the new model has 17 cubic feet of cargo space (almost the same as the A4 Avant), and 34.6 cu.-ft. with the rear seats folded flat.

The A5 Sportback goes on sale this September in Europe and an S5 model with Audi’s new supercharged 3.0-liter V6 is expected to follow.

GALLERY: Audi A5 Sportback

[Source: Fourtitude]

According to its sources, 7Tune is reporting that Toyota is in fact preparing a successor to the Supra. This top-level sports car has taken a back seat to the economy-minded 086A – the code name for the yet unnamed joint Toyota/Subaru project. It’s also likely that development of a Supra-successor has been slowed due to the current economic conditions.

This upcoming sports car will be based on the FT-HS concept, which debuted back in 2007. Like the FT-HS is will be a hybrid, but a non-hybrid version will also be offered.

In hybrid trim the production FT-HS is likely to get the a similar powerplant to the one found in cars like the Lexus GS450h. Using the same 3.5-liter V6 and a more powerful electric motor, the new Supra should make closer to 400hp, rather than the 339 in the GS. Details of a non-hybrid powertrain are non-existent.

7Tune is reporting a concept car should debut at this year’s Tokyo Auto Show with a production version not expected until 2011.

[Source: 7Tune]

Volkswagen is reportedly looking at purchasing a 10 percent stake in Suzuki as it looks to create a solid partnership with the Japanese automaker. Te reason for VW’s interest is Suzuki’s expertise in mini cars – like the Suzuki Alto, pictured above.

The Alto is currently the best-selling vehicle in India and Volkswagen wants to make sure it has a strong presence in emerging markets.

Suzuki, while a small player in developed markets like North America, is actually Japan’s second largest automaker if you count mini-car sales.

The partnership between the two automakers would see the development of a mini car to slot in under the upcoming small cars that will be based on the Volkswagen Up! concept (pictured below). The family of cars based on the Up! will be manufactured in Bratislava, Slovakia, are due out in 2011.

Representatives from both Volkswagen and Suzuki have denied to comment on the matter, but VW’s CEO Ferdinand Piech has previously expressed interest in the Suzuki brand.

GALLERY: Suzuki Alto

[Source: Reuters]

Best known for modifying Land Rover and Jaguar models, German tuner Arden has decided to try its hand at MINI. Arden isn’t exactly unfamiliar with the brand, however, as the new model, the 40th Anniversary MINI Equipe, was built to celebrate 40 years since an Arden-prepped MINI won the British Touring Car Championship.

Outside the car is mostly untouched with just a few updates in the form of stainless steel and chrome grilles. Inside the MINI gets a serious makeover with a two-tone leather package, Alcantara on the dash and stainless steel Arden pedals.

Not to neglect the performance aspect, Arden reprogrammed the ECU, added a larger and more efficient intercooler and threw on an exhaust, bumping output from 172hp and 177 ft-lbs of torque to 212hp and 214 ft-lbs of torque.

To help out int he handling department the modified MINI Cooper S gets a reworked suspension setup that sits 30 mm (roughly 1-inch) lower than stock. Also included are a set of light weight 18×8-inch wheels, which weight just 14.3-lbs each. And inside those front wheels is an impressive braking setup with massive six-piston calipers.

Arden will make just 40 versions of the MINI Equipe.

GALLERY: Arden MINI Equipe

Official release after the jump:

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Several months ago world renowned racer Steve Millen announced his intentions to race in the Targa Newfoundland road rally in a Nissan GT-R prepped by his own tuner shop – Stillen.

Now Stillen has announced that it is running a contest, the winner of which will receive an all expenses paid round trip for two to watch Steve and his GT-R in action over the course of seven days and six nights on “the extreme edge of North America.”

This year’s Targa Newfoundland takes place from September 12th through 19th and covers 1,367-miles (2,200 kilometers) of roads. Each year more than 175,000 spectators come to watch the race.

The Stillen 2009 Targa Newfoundland Sweepstakes is open for entries starting June 30th.

To enter fill out the form on the Stillen website here:

http://www.stillensweepstakes.com/

To find out more about Targa Newfoundland visit the website here:

http://www.targanewfoundland.com/

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Official release after the jump:

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Dalgleish Cadillac, the only remaining Cadillac dealer in the city of Detroit, is being forced into closure next year as a part of General Motors’ restructuring plan. This isn’t just sad because the dealership has been selling Caddy’s in Detroit since 1954. And its symbolism extends beyond GM’s current problems or even the company’s 100 year history.

The city of Detroit, originally Fort Pontchartrain du Detroit, was founded in 1701 by a French explorer. That man’s name was Antoine Laumet de La Mothe, sieur de Cadillac. Yup, the guy the cars are named after.

And in case that isn’t sad enough for you, Dalgleish Cadillac is located across the street from where the first Caddy was made, back in 1902.

When Doug Dalgleish, the 80-year-old owner of Dalgleish Cadillac got the news from GM he was appalled. “They didn’t even have the guts to sign anyone’s name.”

The dealership actually passed an initial round of closings but was later notified that its contract would not be renewed in 2010. The notice was appealed, but GM rejected it.

Doug Dalgleish’s son (also named Doug) believes that the closure will hurt General Motors and says that a lot of Cadillac customers buy from Dalgleish not so much because of the cars, but because of the relationships they have built up over the years.

“GM thinks their product is stronger than it is,” he said in an interview with Automotive News. “But people buy from us and other mom-and-pop dealers around the country because we’ve served them for generations. Once we’re gone, I think GM will lose those customers.”

[Source: Automotive News]

Lotus Cars USA has announced that it has signed on as the Title Sponsor of the grassroots Lotus Challenge Series. Started in 2008 by Jim Navarro and other Lotus enthusiasts the series held eight races in its first year with six in California and two at Spring Mountain Motorsports Ranch in Pahrump, Nevada – the home of the Lotus Driving School.

For 2009 the series has expanded to 10 events in the western U.S. (including races at Streets of Willow, Buttonwillow, Laguna Seca and Infineon) with four additional events in Texas.

“The Lotus Challenge Series is a very well run organization that’s expanding through providing Lotus owners a fun, safe and positive environment in which to enjoy their Lotus vehicles and improve their driving skills,” said Lotus Cars USA, Inc. Director of Operations Arnie Johnson. “What Jim Navarro, Tom Hughes, Jack Fried, Robb Bonanno and all of the participants in the Lotus Challenge Series are doing is fostering tremendous enthusiasm and goodwill for our treasured Lotus marque. We’re extremely proud to support the expansion of the Lotus Challenge Series as the title sponsor and show some of our most devoted Lotus owners how much we appreciate them.”

The Lotus Challenge Series is comprised of several classes for both street cars like the Elise and Exige, as well as track-only vehicles like the Exige Cup Car 255 and the 2-Eleven.

For more info visit the Lotus Challenge Series website here:

http://www.lotuschallengeseries.com/

[Photo Credit: Lotus Challenge Series]

Official release after the jump:

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That didn’t last long. Just a week ago Chrysler, newly emerged from bankruptcy protection, announced that it would be restarting production at 11 of its manufacturing plants. With new ownership from from Fiat and the U.S. and Canadian governments the American automaker was eager to start a new chapter in its long history. There’s just one small problem… we’re still in the middle of a worldwide recession and no one wants to buy cars. Or pickup trucks.

As a result, Chrysler is idling its Fenton, MO plant (where the Dodge Ram pickup truck is assembled) on July 10th. Oddly, the plant will still reopen on June 29th, only to close two weeks later.

According to the Automotive News report the Fenton plant might not reopen at all as it had previously been scheduled to shut down in the third quarter of 2009 – and with the current supply of Dodge Rams sitting on dealer lots enough to last 115 days its unlikely the facility will ever come back on line.

[Source: Automotive News via Autoblog]