Kia Motors seems to be racking up awards one after another these past days. Now, it is the Kia Soul which has solicited another award, bagging the 2010 Automotive Excellence Award by Popular Mechanics. The Kia Soul has already pocketed previous awards including the Top Safety Pick and the Coolest New Cars Under $18,000. Apparently its features which include its appealing style, fuel efficiency and overall value have been responsible for these awards. The Kia Soul is 1 of 10 vehicles acknowledged from the list.

The Kia Soul is available in four trims with starting prices at $14,000.00. Packed with features that include a SIRIUS Satellite Radio and audio (CD/MP3) peripherals, there is no doubt that the Kia Soul is truly a classy vehicle to consider. But add these to the overall stature of the Kia Soul 2010 and you know why this 5-door vehicle is truly getting the recognition it so truly deserves!

Image Credits

(Source) Reuters

Tags: audio cd mp3, automotive excellence, excellence award, fuel efficiency, image credits, KIA, kia motors, new cars, no doubt, peripherals, popular mechanics, reuters, sirius satellite radio, stature, trims

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While the car industry is desperately in a bind, it seems that GMAC is encountering rough sailing as well. But thanks to the support of the US government, help is on the way as the US Treasury is reportedly set to provide additional financial support for the trouble lender.

“It’s likely, again, that GMAC will need to take additional capital from the government and we’ll be prepared to provide that,” Geithner said in an interview with Reuters on Friday. Results of ’stress tests’ released on Thursday showed that 10 of America’s 19 largest banks need a total of $74.6 billion in new capital to boost their cash reserves in the event of a deeper economic slump.

US Treasury Secretary Timothy Geithner said there were signs that the economic downturn was coming to an end. However, he warned that there was still ‘a long way to go’ before the world’s largest economy would have a full recovery. The Treasury has already provided $6 billion in aid to GMAC, which is a vital provider of loans for buyers of US-made cars.

(Source) Press TV

Tags: banks, bind, car industry, cash reserves, economic downturn, economic slump, economy, GMAC, government aid, Loans, reuters, rough sailing, signs, stress tests, timothy geithner, treasury secretary, us government, us treasury

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Toyota Motors continues its nosedive sales reports and is expecting worst thing to come. With dozens of factories unused, the global downturn is making life easier for the Japan-based car manufacturer, comparing profitable years with a large loss of $6.9 billion in the final quarter.

The world’s biggest automaker reported a January-March operating loss of 682.5 billion yen ($6.9 billion), versus a 396.7 billion yen profit a year earlier but in line with a consensus estimate for a loss of 689 billion yen in a survey of 21 analysts polled by Thomson Reuters.

The global economic downturn that has battered demand for cars and pushed U.S. rival Chrysler [CBS.UL] into bankruptcy has hit Toyota badly as it went from rapid expansion to overcapacity almost overnight.

Toyota posted its first-ever consolidated operating loss last year after a record profit the year before.

(Source) Reuters

Tags: automaker, Bankruptcy, car manufacturer, cbs, Chrysler, consensus estimate, dozens, economic downturn, factories, global downturn, Japan, overcapacity, rapid expansion, record profit, reuters, thomson, Toyota, toyota motors, yen

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