Detroit's Answer to $3-$4 Gas: New Muscle Cars
TRAVERSE CITY, Mich., Aug. 9 - As gasoline prices surge past $3 a gallon in most of the country and closer to $4 in some cities, sales figures show Americans are snapping up small cars that go easier on fuel and on their wallets.
But none of the smallest cars are designed or developed by Detroit companies, which in the face of high gas prices are now highlighting another kind of automobile not usually thought of as energy efficient: the muscle car.
Ford Motor said Wednesday that it planned to build a 325-horsepower version of the Ford Shelby GT. It also plans a big luxury car, the Lincoln MKS, which will become the struggling brand's flagship sedan. The announcement came at an industry conference here sponsored by the Center for Automotive Research.
MSNBC - AUG 18th:
Ford to slash production amid sales slump
Report: Ailing automaker seeks to accelerate turnaround plan
DETROIT - Ford Motor Co. on Friday announced sharp cuts in its North American production that would force it to partially shut down plants in the United States and Canada in the fourth quarter.
The company said fourth-quarter production would be down 21 percent, or 168,000 units, from last year. Third-quarter production will be 20,000 units below what was previously announced.
For the full year, Ford plans to produce about 9 percent fewer vehicles than last year.