The Earthquake disaster in Japan may prompt European car makers to seek suppliers closer to them, the chief of Europe’s automobile association said.

Ivan Hodac, secretary general of the European Automobile Manufacturers Association, said that some car makers are still being affected by the disaster that caused several Japanese auto manufacturers to suspend operations. Hodac also stated this disaster affected many automakers outside of Japan.

Hodac also added that European auto makers want suppliers to be much closer, ostensibly to prevent any future production disruptions. The issue of a possible free trade agreement between the European Union and Japan, Hodac expressed fears that such it would provide a “one-sided advantage” for Japan. Hodac would prefer an agreement based on a level playing field instead.

[Source: Just Autos]

At this year’s International Engine of the Year awards, Italian powerplants claimed half of the awards handed out. Fiat managed to win four of twelve awards with the company’s 875-cc TwinAir mill.

The Fiat engine achieved: Best New Engine of 2011, Green Engine of the Year, 1.0-liter Engine of the Year and International Engine of the Year. Ferrari, with its 4.5-liter V8 from the 458, acquired Best Engine Above 4.0-liters  as well as Best Performance engine.

Germany’s BMW, Audi and Volkswagen did well with BMW taking four awards alone.

[Source: Autoblog]

The Chrysler Group LLC is expected to announce today that it has reached a deal to refinance its debt.

The Auburn Hills based company plans to repay $7.5 billion in government loans to both the U.S and Canadian governments by May 24th. Chrysler owes $5.9 billion to the U.S and $1.6 billion to Canada. Chrysler’s partner Fiat SpA is to increase its share in the struggling automaker to 46 percent, reducing both the American and Canadian government’s share of Chrysler.

Fiat will pay Chrysler $1.3 billion in cash to repay the loans and increase its share by additional 16 percent. Chrysler will use $3.5 billion in bonds, a $2.5 billion term loan as well as Fiat paying the $1.3 billion in cash. The loan payoff comes far ahead of what was required. Chrysler had until 2017 to repay its debts in full. With this financial move, Chrysler hopes to offer public stock likely later this year or the next based on market conditions and the wishes of its shareholders.

With Fiat’s help, Chrysler has revamped its product lineup, redesigned its vehicles fetching higher prices and in the first quarter has reported its first net profit of $116 million. Chrysler and Fiat CEO Sergio Marchionne said Chrysler is on track for a net revenue of $55 billion in 2011, a $2 billion operating profit and net profit of $200 to $500 million.

[Source: Detroit News]

Tommy Kaira may be more popularly known for their Nissan GT-R accessories and their Toyota Prius styling kits, but they are also extremely popular among the Subaru Legacy crowd. While most Subaru enthusiasts are seen rolling around in an Impreza WRX or STi, there are quite a few that opt for the Legacy’s more elegant appearance while retaining the same performance a WRX or STi has to offer.

The new Subaru Legacy may be a tad too tame for some, opting more to be a family sedan than a sporty sedan. But Tommy Kaira is looking to change that entirely, current working on a styling kit and wheel package for the new Legacy. The render reveals a much more aggressive rear bumper and diffuser, fully complemented by an STi-inspired trunk spoiler. The final product looks to retain the Legacy’s true form without going too aggressive or out-of-the-box, which Tommy Kaira is sometimes known to do with their styling kits.

GALLERY: Tommy Kaira Subaru Legacy

[Source: The Real JDM]

Now that Hublot and Formula 1 have been partners for a year, we’ve seen a few impressive timepieces thanks to this collaboration. And now it’s time for another special edition to make its way to us – take a look at the Hublot Formula 1 King Power Ceramic Watch.

With a limited run of 500 pieces, this watch comes in a matte black ceramic King Power style case that measures 48 mm wide. Adorned with black and red tones, the Hublot Formula 1 King Power Ceramic Watch’s colors are complemented by a strap featuring titanium tones. Giving it that look of premium quality is ceramic bezel placed over a carbon fiber plate, as well as a black Nomex strap with red stitching that is attached to the case.

It’s a sharp-looking race-themed watch that perfectly embodies what Formula 1 is all about, so don’t expect them to last long.

[Source: Top Speed]

Those who snapped up an all-wheel-drive Nissan Juke might not know that they’re driving around with a smaller gas tank than advertised. Outrageous! But wait, there’s more—Nissan is throwing in money too, just to make up for it.

Turns out, the AWD model’s gas tank is slightly smaller at 11.8 gallons, when it had originally been advertised as being 13.2 gallons—the same as the front-wheel-drive Juke. Stop the presses, you say? Nissan did not let this travesty go by, and instead notified owners of a “problem” they might not even have noticed in the first place—as well as giving them a fat check to compensate.

Approximately 4,000 owners were notified of the problem in April, but are now set to receive a $400 check to cover Nissan’s mistake. Nissan is doing so to hold their end of the bargain and retain customers: the outraged masses will also have the option for Nissan to buy back their Juke if they’re truly angry enough. In total, Nissan is laying out $1.6 million to impress these 4,000 owners—a move that will surely be worth its weight in gold when it comes to the positive publicity.

However, there’s still no word on whether the $400 incentive is enough to cover the fact that they’re driving what looks like a steroided bullfrog.

[Source: ConsumerSearch]

Jaguar plans to move the XF, it’s current bread and butter model, up in size for the car’s next redesign, scheduled for 2015. In addition, the company will augment its product offerings, with a new smaller car at around the same time.

The main motivation for up-sizing the next generation XF, comes from the car’s German competition, particularly the Mercedes E-Class and BMW 5-series, which Jag boss Adrian Hallmark notes “given that [these models] have moved up in size, so will the next XF.”

Originally, Jaguar had planned to offer a new, baby offering ahead of the XF redesign, but there were some that felt it could potentially steal sales away from the current XF, the car which ‘saved,’ Jaguar, since the two models would likely be harder to differentiate.

Hallmark is strongly enthusiastic about the idea of a new smaller Jaguar, but along with engineering chief Bob Joyce, believes that the car has to be designed and engineered exactly right for its target audience, avoiding the same mistakes the company got into when it launched the Ford Mondeo based X-Type.

“We’ve got to be careful and not be too British and think that just because we didn’t hit the bullseye first time, we can’t hit it a second time,” Hallmark said.

[Source: Autocar]

The Lotus Elan has been put on hold indefinitely, reportedly due to the rather obvious fact that the concept was too close to the brand’s current Evora model. Previously, rumors had indicated Lotus was taking a close look at both the Esprit and Elite models, which share many of the same components and have similar style, in order to further separate two two vehicles.

But before the Esprit or Elite are put into production, Lotus will be updating the Evora with some aesthetic changes and new trim levels to align it with the rest of the “Lotus New Era” range. Updates will also be done on the Elise and Exige to make them more user friendly. The production Exige will reportedly be revealed at the 2012 Geneva Motor Show.

GALLERY: Lotus Elan Concept

[Source: Top Speed]

According to a published report; Chrysler’s Ram division is planning to build a light-duty pickup using its minivan architecture around 2013-2014.

The new truck takes aim at buyers who want the utility of a pickup, but don’t need the inherent toughness and capability of full-size rigs. Utilizing a smaller, unibody platform will also help improve fuel economy over the likes of the Ram 1500.

This new minivan based pickup, much like Honda’s Ridgeline, will feature a front-drive layout and although reports have yet to be confirmed, it’s likely some kind of all-wheel drive system will be offered.

Dubbed the TR Life Style truck, Chrysler projects it’s Ram division to sell between 15,000 to 20,000 units annually (for the record, the Ridgeline sold 16,142 copies last year, a drop of two percent from 2009).

Along with the rest of Chrysler’s minivan range, the TR will be assembled at the Windsor, Ontario plant and, according to Doug Shepard, editor of Automotive Compass’ weekly report, the truck is “an insurance policy that the plant will continue on three shifts at full capacity.”

Yet despite the existence of the report, Chrysler, at least officially, isn’t saying much at this time, only that the idea of a mid-size pickup is being “considered.”

[Source: Toronto Star]

The latest one-off vehicle to be built by Ferrari’s ultra-exclusive Special Projects team is this custom 599 drop-top, which goes by the name Superamerica 45. Built for Ferrari nut Peter Kalikow, it celebrates the anniversary of the first year he became a Ferrari owner.

Much like the 575 Superamerica, this car features a rotating hard top, although unlike the glass one on the old 575, this unit is made of carbon fiber (not glass). The trunk of the car also gets a new design to incorporate the folding roof and to optimize the aerodynamics on this roadster. Additional design cues include double air vents on the front fenders, a chrome front grille and brushed aluminum A-pillars. The car has been pained a custom Blu Antille to match other models that Kalikow owns, including a 1961 400 Superamerica (must be nice).

The Ferrari SP Superamerica 45 will debut at the Villa d’Este Concorso d’Eleganza on May 20th.

GALLERY: Ferrari Superamerica 45