First official Porsche Panamera Gran Turismo teaser revealed

It's not like Porsche has done a very good job keeping the Panamera, its upcoming four-door sports sedan coupe, a secret. We've seen more spy shots of the Panamera undergoing testing than pics of Britney doing something unseemly in public, and that's a lot. But rather than just show us the final production form of the Panamera, the name of which is now officially followed by "Gran Turismo", Porsche has decided to do a full blown marketing roll out using the just launched Panamera Online Magazine as the medium through which we'll see the production Panamera bit by bit. The first issue is out and contains a few not-very-revealing sketches of the car as well as an image that will be used in upcoming advertisements in which the Panamera peeks its nose out of a garage. Unfortunately, the front end of the car looks pretty much like every other Porsche. Nevertheless, the roll out has begun and sooner rather than later we'll be able to pass judgment on Porsche's first four-door passenger car. Porsche says the Panamera's official debut is scheduled for next spring (probably the Geneva Motor Show in March), with sales to commence in late summer or early fall of 2009.

Gallery: Porsche Panamera Gran Turismo

[Source: Porsche]

First official Porsche Panamera Gran Turismo teaser revealed

It's not like Porsche has done a very good job keeping the Panamera, its upcoming four-door sports sedan coupe, a secret. We've seen more spy shots of the Panamera undergoing testing than pics of Britney doing something unseemly in public, and that's a lot. But rather than just show us the final production form of the Panamera, the name of which is now officially followed by "Gran Turismo", Porsche has decided to do a full blown marketing roll out using the just launched Panamera Online Magazine as the medium through which we'll see the production Panamera bit by bit. The first issue is out and contains a few not-very-revealing sketches of the car as well as an image that will be used in upcoming advertisements in which the Panamera peeks its nose out of a garage. Unfortunately, the front end of the car looks pretty much like every other Porsche. Nevertheless, the roll out has begun and sooner rather than later we'll be able to pass judgment on Porsche's first four-door passenger car. Porsche says the Panamera's official debut is scheduled for next spring (probably the Geneva Motor Show in March), with sales to commence in late summer or early fall of 2009.

Gallery: Porsche Panamera Gran Turismo

[Source: Porsche]

Spy Shots: 2010 Chevy Cruze spotted in the wild

A couple of weeks ago, GM released the first official photos of the new Chevy Cruze compact and we've been seeing camouflaged examples for months. Now, one of our readers has spotted an almost completely uncovered Cruze in a parking lot in Rochester, NY. The Cruze will make its auto show debut next month in Paris and we expect to see it Monday in Detroit. The only disguise on this example is some duct tape over the bow-tie on the grille. The Cruze will be available globally starting Europe (why do they always get the good stuff first?) next spring. This will be the first car coming off the next-generation version of GM's Delta compact platform that will be shared with the next Astra, the Orlando MPV and, of course, the Volt. Thanks to Kyle for the tip!

[Source: Photobucket]

Bad credit hurting sales more than fuel prices

The auto industry is in a bad sales slump, and while trucks and SUVs are being hurt particularly by fuel prices, the rest of the market has an even bigger problem. The tight credit market is making it much harder for dealers to sell you transportation, and the problem isn't relegated to just those with poor credit. Banks want higher cash-to-debt ratios, larger down payments, and then they're still charging higher interest rates on top of all that. GM's Mark LaNeve estimates his company is losing between 10,000 and 12,000 sales per month due to the credit crunch, which is close to a full point of market share.

Chrysler dealers are likely struggling even more, as the Pentastar recently removed company-financed leasing as a fall back option for those who cannot afford to buy. Chrysler's sales have been down 34% this year through August, and leasing went from 23.5% of the business to just 2%. With the latest rash of bad news hitting the banking industry in the U.S., we don't expect this trend to reverse itself any time soon.

Spy Shots: 2010 Chevy Cruze spotted in the wild

A couple of weeks ago, GM released the first official photos of the new Chevy Cruze compact and we've been seeing camouflaged examples for months. Now, one of our readers has spotted an almost completely uncovered Cruze in a parking lot in Rochester, NY. The Cruze will make its auto show debut next month in Paris and we expect to see it Monday in Detroit. The only disguise on this example is some duct tape over the bow-tie on the grille. The Cruze will be available globally starting Europe (why do they always get the good stuff first?) next spring. This will be the first car coming off the next-generation version of GM's Delta compact platform that will be shared with the next Astra, the Orlando MPV and, of course, the Volt. Thanks to Kyle for the tip!

[Source: Photobucket]

Bad credit hurting sales more than fuel prices

The auto industry is in a bad sales slump, and while trucks and SUVs are being hurt particularly by fuel prices, the rest of the market has an even bigger problem. The tight credit market is making it much harder for dealers to sell you transportation, and the problem isn't relegated to just those with poor credit. Banks want higher cash-to-debt ratios, larger down payments, and then they're still charging higher interest rates on top of all that. GM's Mark LaNeve estimates his company is losing between 10,000 and 12,000 sales per month due to the credit crunch, which is close to a full point of market share.

Chrysler dealers are likely struggling even more, as the Pentastar recently removed company-financed leasing as a fall back option for those who cannot afford to buy. Chrysler's sales have been down 34% this year through August, and leasing went from 23.5% of the business to just 2%. With the latest rash of bad news hitting the banking industry in the U.S., we don't expect this trend to reverse itself any time soon.

First Drive: 2009 Volkswagen CC

Is "four-door coupe" an oxymoron or a clever twist on automotive design rules? That was a popular question among the 50 or so journalists invited to drive Volkswagen's new CC from Atlanta to Nashville last week.

The seemingly contradictory term was apparently first used to describe the Rover P5 Mark II in 1962, but was revived more recently when Mercedes introduced its CLS in 2004. In both cases the cars' low rooflines defied conventional saloon styling and needed a unique descriptor for marketing pizazz.

When rumors of the VW CC began to leak out, some speculated the CLS would be its main target. But Volkswagen learned from the disappointing U.S. acceptance of the Phaeton: Luxury buyers pay for brand cache as much as they do for supple leather and high-tech gadgets. This time around, says Brett Scott, VW's product planning manager, they expect many of their customers to be Camry and Accord shoppers attracted to the CC's stand-out styling.

Gallery: First Drive: 2009 Volkswagen CC