BMW Bankruptcy Bust Up in the Bush: The Price of Luxury Car Loans Down Under

AU$18 million or about US$18.1 million at the current exchange rates. That’s how many Australian dollars some 226 plus Aussies owe BMW’s unimaginatively named financial arm "BMW Finance". The Bavarian automotive giant is now perusing bankruptcy proceedings against these persons in Australia’s Federal Magistrates’ Court in an effort to recoup the debt from hundreds of unpaid car loans.

It’s all rather depressing, really, especially in the aftermath of the Global Financial Crisis. Take one man who bought an AU$80,000 Lexus on credit shortly before he lost his AU$110,000 job. Or the woman who signed her name on a car loan for her and her husband, only to have him leave her and get stuck with the debt. "They repossessed the car, but they still want [AU]$25,000. I don't know what to do,” said the 34 year-old.

That the woman earns just AU$36,000 a year is of no concern to BMW Finance. Peter Malone, a bankruptcy expert at CRS Warner Kuegel told the Sunday Herald Sun newspaper that creditors could, through a bankruptcy trustee, seize many of a debtor’s assets including their home, cash and shares.

Even if the car is repossessed or sold on, debtors still owe on the shortfall which can sometimes be big money. In Australia, one can be made bankrupt over as little as AU$5,000. Most of the claims the Herald Sun inspected fell into the AU$30,000 plus category, with one debtor owing a whopping AU$190,000.

It just goes to show that that old saying still stands up today, “They that dance must pay the fiddler.” Though in retrospect, why anyone would want to dance to a AU$190,000 tune is beyond my comprehension...

By Tristan Hankins

Source: Herald Sun

Two Germans Travel Across Australia in a Wind Turbine Car [with Video]

When it comes to crazy-cool engineering, nobody can top ze Germans. If it’s even vaguely plausible, you can bet that some German crackpot inventor has done it. Well, now two Germans – Stefan Simmerer and Dirk Gion – have broken three Guinness World Records in a ... wait for it ... wind turbine powered electric car.

That’s right, an EV that’s powered by a wind turbine, those big robotic looking windmills you may have seen in farms atop hilltops in Scotland or Pennsylvania. Here’s how it works:

At night, Simmerer and Gion park the Wind Explorer – that’s what it’s called – and erect a nifty looking collapsible wind turbine. While they sleep, the lightweight turbine generates enough energy to recharger the Wind Explorer’s batteries. If they’re running low on energy during the day, they can whip out a kite that helps powered the vehicle forward.

Simmerer, Gion and the Wind Explorer have recently completed a 4,800 kilometer (2,983 mile), 18 day trek across Australia where they either broke or established three Guinness World Records: the first to cross the Great Southern Land in a wind powered car, the longest distance travelled in a 36 hour period and the most distance travelled overall in a wind powered car.

You can check out some sweet videos of the Wind Explorer’s journey below.

By Tristan Hankins

Source: Wind-Explorer

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Two Germans Travel Across Australia in a Wind Turbine Car [with Video]

When it comes to crazy-cool engineering, nobody can top ze Germans. If it’s even vaguely plausible, you can bet that some German crackpot inventor has done it. Well, now two Germans – Stefan Simmerer and Dirk Gion – have broken three Guinness World Records in a ... wait for it ... wind turbine powered electric car.

That’s right, an EV that’s powered by a wind turbine, those big robotic looking windmills you may have seen in farms atop hilltops in Scotland or Pennsylvania. Here’s how it works:

At night, Simmerer and Gion park the Wind Explorer – that’s what it’s called – and erect a nifty looking collapsible wind turbine. While they sleep, the lightweight turbine generates enough energy to recharger the Wind Explorer’s batteries. If they’re running low on energy during the day, they can whip out a kite that helps powered the vehicle forward.

Simmerer, Gion and the Wind Explorer have recently completed a 4,800 kilometer (2,983 mile), 18 day trek across Australia where they either broke or established three Guinness World Records: the first to cross the Great Southern Land in a wind powered car, the longest distance travelled in a 36 hour period and the most distance travelled overall in a wind powered car.

You can check out some sweet videos of the Wind Explorer’s journey below.

By Tristan Hankins

Source: Wind-Explorer

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Not for U.S.: Subaru Launches 259HP Forester S-Edition in Australia

First unveiled in the 2010 Australian International Motor Show in Sydney last October, the Subaru Forester S-Edition has now gone on sale in Australia, alongside the revised lineup of the Japanese compact SUV. Boasting a turbocharged 2.5-liter boxer engine delivering 259HP (193kW) and 347 Nm (256 lb-ft) of torque, the new range-topping model is the most powerful Forester ever to be sold down-under.

“We have had increasing customer interest in a more powerful Forester and are delighted to be the first export market for S-Edition, which made its worldwide debut at the Australian International Motor Show in Sydney last October”, said Nick Senior, Managing Director, Subaru Australia. “It combines the best of two winning Subaru formulas – WRX and Forester, the latter of which is firmly entrenched as Australia’s favorite compact SUV.”

The flat-four is coupled to a 5-speed paddle-shift automatic transmission, which sends power to all wheels through Subaru’s Variable Torque Distribution all-wheel drive system. To improve handling, engineers fitted the S-Edition with sport suspension and 17-inch Subaru Tecnica International (STi) alloys, wrapped around in 225/55 R17 Yokohama rubber.

With plenty of torque available from down low – and constant between 2,800-4,800 rpm –, the Forester S-Edition sprints to 100 km/h (62 mph) in just 6.5 seconds and can reach a top speed of 228 km/h (142 mph).

Wringing this car's neck will surely result in some scary consumption figures, but, according to the official fuel economy estimates, a laidback driving style can result in the burning of just 10.5 lt/100 km (22.4 US mpg) in a combined cycle, which is downright acceptable.

Compared to its more mundane siblings, the S-Edition also comes with a black grille, various chrome accents, silver roof rails and, for a limited period, World Rally Blue color option.

Inside, sport seats clad in a combination of alcantara and leather, S-Edition seat embroidery complemented by blue stitching, sporty instrument display and special gear shifter set this model apart.

The Forester S-Edition’s base price is AUD $50,990 (about US $51,301 at today’s exchange rates).

As previously reported, the revised Forester lineup benefits from the new naturally aspirated 2.5-liter engine, capable of 170HP (127kW) and 235 Nm (174 lb-ft) of torque.

All new models feature a redesigned front grille, while inside the dashboard has a darker finish with matching metallic accents. The standard equipment list now includes seats clad in a more water resistant cloth trim, Bluetooth and USB connectivity, while XS models and above receive reversing cameras as standard.

*Note: The Subaru Forester S-Edition study is featured in the photos below

By Csaba Daradics

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Australia: Now you see the New Mazda2 Sedan, now you Don't

The Mazda2 four-door small sedan has been dropped from the firm's lineup in Australia, just eight months after launch. The reason is Mazda's decision to switch production of the Australian market version of the small car from its Thailand factory, which manufactures both sedan and hatchback body styles, to the company's Hiroshima plant in Japan, which builds only the hatchback version.

The Japanese automaker said the move was dictated by the success of the Mazda2 in the Thailand region and the fact it could not guarantee supply to the Australian market.

Mazda Australia spokesman Steve Maciver told reporters that the company does not except the loss of the four-door model to harm local sales as the five-door model was the most popular in the range.

An updated version of the Mazda2 hatchback with refreshed trim and all-new colours is due arrive in Australian showrooms this month. It will continue to be offered with 76kW 1.5 litre petrol engine, available with both manual or automatic transmissions.

Source: Yahoo [Hat tip to Matt]

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