Latest Auto News Blog: government

The Carpocalypse draws nigh after Senate Republicans lanced last night's bailout. In response, the White House now says "all options are on the table" and Toyota's scared after its stock drops 10%.

The S&P said a month ago that if the credit crunch wasn't taken care of, by 2009 the world would be facing global automaker liquidation. That's what we call the Carpocalypse and it's getting much closer to reality after Senate Republicans killed the House bailout bill without brokering a compromise, hung up on an attempt to strong-arm the UAW into a wage reduction for current workers that apparently isn't factually based.

Meanwhile, Toyota poised for its first U.S. sales decline in 13 years, canceled its 2009 annual dealer meeting in Las Vegas to trim expenses as consumer demand for new cars plummets. Additionally, the Japanese automaker released a statement saying a bankruptcy among the not-so-Big Three would "exacerbate an already difficult environment" for itself and the industry as a whole. On those comments, and thanks to the Senate Republicans, shares were off 10% in Nikkei trading today.

In response, the White House just moments ago claimed "all options are on the table" including, apparently, looking to breaking off a chunk of the $700 billion in TARP financing set aside for the financial industry. Toyota stock recovered after this news, down now just over 1.5%.

Fears of a bankruptcy of any of the not-so-Big Three also hit Honda today, who we just heard will now be cutting output in North America by 119,000 between now and the end of March at plants in Alliston, Ont., Ohio, Alabama and a new factory in Indiana that began producing cars just last month.. Run for the hills, folks!

[via MSN, Globe and Mail]

Well, Hoon by name if not by nature. Geoff Hoon, former Secretary of State for Defense, was appointed the United Kingdom’s Secretary Of State For Transport back in October. Could this be a good thing? Surely anyone named Hoon can’t be all evil, right?

Well, he has called fixed speed cameras “arbitrary” and “unfair,” preferring instead the far less arbitrary and unfair average speed cameras. You know, the ones that record your speed over a large distance then send you a ticket in the mail should your average exceed the posted limit. He’s also proposed that drivers could lose their licenses after only two speeding offenses. Why?

No, not because speeding is dangerous — it seems that even the ~~Ministry of Love~~ Labour Party has lost faith in that lie — but, get this, because the faster you drive, the more you pollute. Coincidentally, Geoff Hoon has just approved an extra 23,000 flights per year at Stanstead and who supports a third runway at Heathrow.

Despite his anti-car policies, Hoon has had the gall to have himself described as “car mad” in newspaper interviews. Ignoring his car-hating policies for a second, let’s take a look at the Hoon fleet: a Ford Galaxy minivan, a purple Mini and his Government issue Prius.

What’s most interesting about Hoon’s appointment to the position isn’t the cynical policies or spin however, it’s the resigned acceptance shown by the English press. Writing in The Times, former CAR editor Jason Barlow cites all of the above offenses but doesn’t move on to present a cohesive argument for either Hoon’s dismissal nor the repeal of his policies; instead moving on to a tired and trivial Clarkson imitation, calling for people with stuffed animals in their cars to be banned. For this ex-resident of Blighty, it’s sad and frightening to see the degree to which the British are prepared to roll over and accept the slow progression of Orwellian rule. The United Kingdom used to be a bastion of reasonable laws and personal freedom. Not anymore. [via The Times]

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White House "Looking At All Options," Toyota Stock Drops 10%, Honda Cuts Production [Carpocalypse Now]

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Hoon Appointed UK Secretary Of State For Transport [Government]

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