$6bn More Auto Aid For U.S Auto Industry

It seems it is time for General Motors to rejoice. The US government has made the announcement for expanding the auto bailout of the auto industry. The government will provide an additional auto aid of $6bn. This auto aid will definitely make a huge difference to GMAC. $5bn out of this auto aid would be given to GMAC that is the finance arm of General motors. The remaining $1bn would be given to GM which would use the money to buy shares in GMAC. While funding the auto aid of $6bn, the government has also warned the automakers to use the money judiciously. It has also asked the companies to put forth restructuring plans as soon as possible. If not so, the automakers might have to face bankruptcy by the month of March.

These steps are being taken to bailout the auto industry from global economic recession and automatically suffering from heavy losses. In the first week of December, the US government had pumped in $17.4bn for the survival of U.S auto companies. The government had clearly stated that its can't afford to let the Big Three automakers die. $13.4bn of that auto aid was for the biggest automaker of the world General Motors, that was on verge of bankruptcy prior to bail out.

Best Cars of Year 2008

With the year 2008 passing by, here is a glimpse of some of the best cars that were unveiled this year. Some of the cars were known for their special features whereas others were known for their stylish looks. Auto lovers could not have asked for more. From engine to automotive accessories, these cars had something new to offer to them. This year showcased some elegant and terrific cars this year.

Chevrolet Silverado
Striking design coupled with unmatched performance, Chevrolet's new launch this year 'Chevrolet Silverado' has everything one desires for. This 1500 Crew Cab assures comfortable ride as well as high payload rating. This is the latest line of full size pickup trucks from world's biggest automaker General Motors (GM).

Toyota Rav4
Toyota presented an all exclusive model this year – Toyota Rav4. This car offers 22mpg with the V6 engine. According to consumer reports, this car is the best non-hybrid SUV ever. Definitely, it is. Popular for its comfort and space, Toyota Rav4 has earned accolades over the world. The four cylinder version of this car gets 23 mpg. This car is becoming increasing popular thanks to ravishing look of the car.

Hyundai Elantra Se
Stunning and small sedan – so is Hyundai Elantra Se. What makes it popular is its good fuel economy and spacious design. Amongst the varied features of this car include standard electronic stability control. Safety is the most important feature of this car.

Jeep Renegade Concept
Renegade Jeep from Chrysler became popular at 2008 Detroit Auto Show. This jeep comes with clean-diesel series hybrid powertrain. The unusual shape of the jeep and a Bluetec diesel "range-extender" engine makes this jeep stand out amongst the other vehicles. The automotive engine is capable of giving 110mpg when used with the electric motors.

Year 2008 - Best Electric Car – “Tesla Roadster”

Year 2008 witnessed a number of cars, but those who stole limelight were electric, hybrid cars and concept cars. Amongst all the electric cars launched this year, Tesla Roadster is the best one. This sleek and small model car is not only attractive but also offers a number of features. There are a number of unique features that make these cars special and best electric car of year 2008.

Tesla Roadster is 100% electric sports car with zero emissions . This car offers 135 mpg equivalent , 220 miles per charge. Whereas the horsepower and RPM is 248 and 13, 000 respectively. The car tires and battery of this electric car are recyclable and hence are eco friendly. The battery of this electric car gets fully charged in 3.5 hours. This ultra modern car costs less than 2 cents/ mile and hence helps you save money. The other attractive features include touch-screen navigation, 16″ front, 17″ rear & spoke wheels . It also has all the features for your entertainment like 7 speaker, ipod and 170 channel satellite stereo .

Roadster is an electric car with carbon fiber body and has heated leather automotive seats that come with inflatable lumbar support. The most important advantage of this electric car is that being electric it requires no oil. Well, there is another important advantage that will gives these cars an over the other electric cars and that is – Tesla Roadster requires maintenance after every 12, 000 miles. Wow, that would definitely bring a smile on your face. So, are you really interested in this electric car? I hope so, the last piece of information for you – Price of the car – it is $109, 000.

Year 2008 and Automotive Industry

Its festive season and the countdown has begun for the new year. Another seven days to go for year 2009. How was this year for automotive components and parts industry? Find out the latest innovations in the auto industry, new cars, interesting facts about the auto trade shows, all the latest happenings this year. From industry news to new launches, you can find various interesting information here.

Year 2008 had in its disguise a number of incidents. On one hand this year the US Big Three automakers suffered from major loss and on the other it was a year for hybrid cars. The upcoming posts will cover different interesting automotive industry news. Keep tuned in to find out the hot n happenings of automotive industry.