Report: Canada getting ready to sell GM stake

Filed under: Government/Legal, GM, Earnings/Financials, Canada

Canada readies to sell stake in GM.

Canada’s federal government and the government of the province of Ontario have started searching for an investment bank to sell the rest of their combined 140 million shares in General Motors, according to an unidentified source, Bloomberg reports. That represents a 10-percent stake up for sale. The news doesn’t come as a surprise because Finance Minister Jim Flaherty said in December that Canada wanted to sell its shares of GM stock, a point that was reiterated yesterday by one of his spokespeople.

Canada invested $9.5 million for 175 million shares of GM’s stock in 2009 as part of the company’s government bailout. The automaker made an Initial Public Offering in November 2010, at which point Canada sold 35 million shares. The country currently is the third-largest GM shareholder, behind the US Treasury and GM-United Automobile Workers Voluntary Employee Beneficiary Association. Two-thirds of Canada’s stake are held by the federal government and one-third by the Ontario government.

In addition to Canada’s move to sell its GM stock, the US Treasury also said in December that it planned to sell all of its stock in the next 15 months, reports Bloomberg. It seems to be a good time to sell, as the stock has gained 11 percent since the IPO and 27 percent so far this year.

Canada getting ready to sell GM stake originally appeared on Autoblog on Sat, 03 Aug 2013 13:05:00 EST. Please see our terms for use of feeds.

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Video: Audi Canada surprises out-of-warranty owners in a good way

Filed under: Coupe, Performance, Marketing/Advertising, Videos, Audi

2014 Audi R8 dealer courtesy car - video screencap

One of the worst parts about going to a dealership is sitting around waiting for the courtesy shuttle to show up and transport a group of strangers to their places of work or homes. Well, Audi of Canada found a nice way to surprise customers who brought their out-of-warranty vehicles in for a scheduled Health Check by replacing dealer’s normal shuttle with a 2014 Audi R8 V10.

The R8, painted to resemble a safety car or police car, gave the customers a ride home – even stopping at a coffee shop along the way. Needless to say, the stunt got plenty of attention from passers-by and was quite a hit with the Audi customers, too. Scroll down to watch video of the customers getting the ride of a lifetime, which we’re sure left some of the in-warranty customers at least a little jealous as they drove off in dealer loaner cars.

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Audi Canada surprises out-of-warranty owners in a good way originally appeared on Autoblog on Wed, 24 Jul 2013 19:01:00 EST. Please see our terms for use of feeds.

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Report: Despite being big in Canada, Toyota Matrix future unsure

Filed under: Budget, Hatchback, Toyota, Canada

2011 Toyota Matrix

2011 Toyota Matrix – Click above for high-res image gallery

Toyota may not invest in a next-generation version of the company’s Matrix when the 2013 Corolla arrives. According to Ward’s Auto, the hatchback’s sales have fallen off of a cliff, with just 14,592 deliveries last year. That’s down from a height of 66,836 units in 2002. But that’s just here in the typically hatch-averse United States. In Canada, the Matrix is still kicking in teeth, though the Corolla still outsells its long-roof twin by more than twice the volume.

While there’s been some speculation that the upcoming compact Prius variant will supplant the Matrix in the Toyota family tree, Bob Carter, Toyota’s Group Vice President and General Manager, says that the two vehicles are expected to appeal to vastly different audiences.

Still, we have to think that Toyota would be wise to invest a little coin in the aging Matrix when the Corolla gets a revamp in a few years. American buyers seem to be slowly warming to the idea of hatches and wagons, and competitors from Hyundai to Ford are all offering five-door variants. As Ward’s Auto points out, 43 percent of 2012 Focus sales have been hatchbacks to date.

Despite being big in Canada, Toyota Matrix future unsure originally appeared on Autoblog on Wed, 01 Jun 2011 15:31:00 EST. Please see our terms for use of feeds.

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Report: Honda Canada owner database hacked, 283,000 customers at risk

Filed under: Technology, Honda, Canada

Honda grille and badge

Reuters is reporting that personal information from more than 283,000 Honda Canada customers has been stolen by cyber criminals. The data includes names, addresses, vehicle identification numbers and, most importantly, some financing account information.

Still, Honda maintains that the profiles don’t contain the goods necessary for identity theft. Crooks typically need bank account numbers, email addresses and birth dates to pull off a successful cyber heist. Honda Canada had collected the consumer information back in 2009 when it urged its customers to register for on MyAcura and MyHonda sites.

The automaker first became aware that something was awry when traffic to both sites shot through the roof. Shortly thereafter, an inordinate number of unauthorized attempts to access member accounts hit the radar as well. On May 13th, a letter was sent out to owners who potentially had their personal data compromised.

This isn’t the first time that Honda has been the victim of an online attack. Just last year, 2.2 million vehicle owners had their personal information stolen from the Japanese automaker’s databases.

Honda Canada owner database hacked, 283,000 customers at risk originally appeared on Autoblog on Tue, 31 May 2011 18:59:00 EST. Please see our terms for use of feeds.

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Report: Nissan of Canada takes a pass on Murano CrossCabriolet

Filed under: Convertible, Crossover, Nissan, Canada

Nissan Murano CrossCabriolet

2011 Nissan Murano CrossCabriolet – Click above for high-res image gallery

We’re really curious as to whether or not the Nissan Murano CrossCabriolet has what it takes to succeed in the U.S. market. If our friends to the north are any indication, it won’t be such a big hit, especially in regions that receive snow and ice.

The Globe and Mail reports that Nissan Canada isn’t interested in selling the funky crossover/convertible, preferring instead to sit back and gauge the vehicle’s U.S. launch before committing to anything. Ian Forsyth, Nissan Canada director of planning and strategy, told the newspaper that they “continue to assess the opportunity and success in the U.S. market to see if there is evidence to support a change in our position.”

The top of the Canada sales chart is typically filled with economy cars like the Mazda3 and trucks like the Ford F-150, so we can see why a country with six months of snow can do without the CrossCabriolet. Still, since we Americans are all too used to being overlooked for vehicles that are offered in Europe, we know some of our Canadian friends won’t be too happy to hear this.

Gallery: 2011 Nissan Murano CrossCabriolet: First Drive

2011 Nissan Murano CrossCabriolet2011 Nissan Murano CrossCabriolet2011 Nissan Murano CrossCabriolet2011 Nissan Murano CrossCabriolet2011 Nissan Murano CrossCabriolet

Photos copyright (C)2011 Chris Paukert / AOL

[Source: Globe and Mail]

Report: Nissan of Canada takes a pass on Murano CrossCabriolet originally appeared on Autoblog on Mon, 28 Mar 2011 15:31:00 EST. Please see our terms for use of feeds.

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Oh, Canada: De Macross GT1 supercar is welcome to come across the border

Filed under: Coupe, Performance, Canada, MISC

De Macross GT1

De Macross GT1 – Click above for high-res image gallery

Just when you thought all Canada was good for was affordable health care and civil political discourse, our neighbors to the north surprise you with a creation like the De Macross GT1. The brainchild of Jahong Mur, the supercar boasts a host of exotic materials and more than a little tech borrowed from the hive mind at Formula One. That includes the vehicle’s suspension system, which uses the same Dynamic Suspension Spool Valve dampers that Multimatic cooked up for various F1 outfits. The four-way adjustable pieces can crop the vehicle’s ride height by over an inch to allow for both a street and a track set up.

A mid-mounted 5.4-liter Roush Yates supercharged V8 engine provides thrust. The mill dumps 800 horsepower and 700 pound-feet of torque onto the rear wheels only via a six-speed-manual transmission. The company says the gear is good enough to scoot the GT1 to 60 mph in 3.4 seconds while dusting off a standing quarter mile in 11.5. That’s mighty quick by anyone’s measure.

There’s no word on how much this machine will cost you, but we’d bet a nickel it won’t be cheap. Hit the jump for the full press blast.

Gallery: de Macross GT1

[Source: De Macross]

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Oh, Canada: De Macross GT1 supercar is welcome to come across the border originally appeared on Autoblog on Wed, 09 Mar 2011 19:31:00 EST. Please see our terms for use of feeds.

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Video: Subaru of Canada brings back the sexy sumo wrestlers in new Forester ad

Filed under: Marketing/Advertising, Videos, Crossover, Subaru, Canada

Subaru Forester sumo video

Sexy sumos pose with the 2011 Subaru Forester – Click above to watch the video after the jump

Remember the sexy sumo wrestlers that starred in a Canadian Subaru Forester commercial in 2008? They’re back, and, uh, hotter than ever?

In this new ad spot for the updated 2011 Subaru Forester, the sumos are once again put front and center, striking poses at the gas station, the beach and – of course – the car wash. Subaru says that with the Forester, sexy comes standard, and if this is the automaker’s definition of what’s attractive, then, well, so be it. Still, these Japanese wrestlers don’t hold a candle to Tawny Kitaen.

Follow the jump to see the 60-second ad spot for yourself.

Gallery: 2011 Subaru Forester: Quick Spin

2011 Subaru Forester2011 Subaru Forester2011 Subaru Forester2011 Subaru Forester2011 Subaru Forester

Gallery photos copyright (C)2011 Zach Bowman / AOL

[Source: Subaru of Canada via YouTube]

Continue reading Video: Subaru of Canada brings back the sexy sumo wrestlers in new Forester ad

Video: Subaru of Canada brings back the sexy sumo wrestlers in new Forester ad originally appeared on Autoblog on Wed, 16 Feb 2011 12:31:00 EST. Please see our terms for use of feeds.

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Kia Sportage with turbo engine debuts in Canada

Filed under: Crossover, Kia, Canada

2011 Kia Sportage Turbo

The 2011 International Truck of the Year has an all new available engine under the hood. Canadian Kia fans can soon head over to dealers and pick up the 2011 Kia Sportage SX, which features a directly-injected 2.0-liter turbocharged four-cylinder engine. We’d expect the U.S. to follow suit in very short order.

Paired with a six-speed automatic transmission, the turbo mill has a relatively flat torque curve with peak power occurring between 1,800 and 3,000 rpm. When bolted into the 2011 Sonata, the 2.0T is rated at 274 horsepower and 269 pound-feet of torque. We expect the Sportage SX to produce similar numbers, including the 30+ miles per gallon highway fuel economy figures.

The car will show up in Canadian dealer showrooms by the end of winter. Priced at $36,995, it comes loaded with standard features including the new UVO entertainment system, which is similar to Ford’s Sync. Check out the full press release after the break.

Gallery: 2011 Kia Sportage: Review

2011 Kia Sportage2011 Kia Sportage2011 Kia Sportage2011 Kia Sportage2011 Kia Sportage

Photos copyright (C)2010 Jeremy Korzeniewski / AOL

[Source: Kia Canada via Auto North | Image: Montreal Motor Show]

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Kia Sportage with turbo engine debuts in Canada originally appeared on Autoblog on Mon, 24 Jan 2011 18:19:00 EST. Please see our terms for use of feeds.

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Mercedes-Benz releases C63 AMG Affalterbach Edition for Canada

Mercedes-Benz C63 AMG Affalterbach Edition

Mercedes-Benz C63 AMG Affalterbach Edition – Click above for high-res image gallery

We’ve said it before and we’ll say it again: The Mercedes-Benz C63 AMG is an absolutely stunning piece of machinery. We recently had a chance to steer a C63 fitted with the P31 Development Package around the greater Detroit area, and it now looks like our friends to the north are getting a special edition of Merc’s AMG atom bomb all for themselves.

Dubbed the Affalterbach Edition (it’s named after the German town in which AMG’s skunkworks reside), this C63 wears a unique Magno Allanite Grey paint that is accented with red brake calipers, 19-inch black alloy wheels, carbon fiber mirror shells and a subtle lip spoiler. No tweaks have been made to the C63’s powertrain, but the Affalterbach edition comes standard with the normally optional AMG Performance Package, meaning there’s 481 horsepower and 443 pound-feet of torque on tap. Sprints to 62 miles per hour will be accomplished in a tidy 4.4 seconds.

Inside, the Affalterbach treatment includes things like AMG sport seats wrapped in Nappa leather, red contrast stitching, carbon fiber trim, and special edition logos placed throughout the cabin. Only 30 units will be sold in the Great White North, starting from $81,500 Canadian when it goes on sale in the spring. Follow the jump for Mercedes-Benz’s official release.

Gallery: Mercedes-Benz C63 AMG Affalterbach Edition

Mercedes-Benz C63 AMG Affalterbach EditionMercedes-Benz C63 AMG Affalterbach EditionMercedes-Benz C63 AMG Affalterbach EditionMercedes-Benz C63 AMG Affalterbach EditionMercedes-Benz C63 AMG Affalterbach Edition

[Source: Mercedes-Benz]

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Mercedes-Benz releases C63 AMG Affalterbach Edition for Canada originally appeared on Autoblog on Fri, 14 Jan 2011 16:56:00 EST. Please see our terms for use of feeds.

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What are Canada’s 10 worst selling cars and trucks? Glad you asked…

Filed under: Car Buying, Canada

Nissan Armada

Canada’s 10 worst selling new vehicles of 2010 – Click above for high-res image gallery

The end of the year is typically ripe with all sorts of best and worst lists. Canadian automotive website Wheels.ca has provided us with a look at the car buying habits of our friends to the north. The list of Canada’s 10 worst selling new vehicles for 2010 is not exactly filled with surprises, but the actual sales volume for each model is quite interesting. Can you guess how many Lexus GS models left the lots of Canadian dealers in all of 2010? Just 215. That number is only good enough to earn the Lexus 5th place on the list.

Click through the gallery below to see how 2010 played out for 10 cars, trucks, wagons and SUVs on sales lots north of the border. Top tip, Ben!

Gallery: Canada’s 10 Worst Selling New Cars in 2010

Canada's 10 Worst Selling New Cars in 2010: Number 10 - Nissan ArmadaCanada's 10 Worst Selling New Cars in 2010: Number 9 - Mitsubishi GalantCanada's 10 Worst Selling New Cars in 2010: Number 8 -  Mitsubishi EndeavorCanada's 10 Worst Selling New Cars in 2010: Number 7 - Kia BorregoCanada's 10 Worst Selling New Cars in 2010: Number 6 - Volvo V50

[Source: Wheels.ca]

What are Canada’s 10 worst selling cars and trucks? Glad you asked… originally appeared on Autoblog on Thu, 02 Dec 2010 14:58:00 EST. Please see our terms for use of feeds.

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