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ZHEJIANG, China, December 31, 2008: SORL Auto Parts, Inc. , a leading manufacturer and distributor of commercial vehicle air brake valves and other auto parts in China, today announced that China’s State Administration of Taxation has officially confirmed that the Company’s subsidiary, Ruili Group Ruian Auto Parts Co., Ltd. (”Ruian Auto Parts”), is entitled to preferential tax treatment, which resulted in a tax refund that SORL included in its income statement for the second quarter of 2008. As a result, for the years 2007 and 2008, Ruian Auto Parts is entitled to an income tax exemption on all pre-tax income generated by the company above its pre-tax income generated in the fiscal year 2006.

(Read the full post about ‘SORL Auto Parts Granted Preferential Income Tax Treatment Through 2011′…)

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Shanghai, December 31, 2008: (Gasgoo.com) Beijing will ban heavy-polluting vehicles from running on its inner-city roads starting Jan. 1, 2009 and phase them out by the second half of next year by providing subsidies to their owners for buying low-emission new cars, said Beijing News today. The maximum subsidy for scrapping a polluting car for a clean one will reach 25,000 yuan ($3,660).

Before the 2008 Olympic Games in April, the environmental watchdog of Beijing labeled the city’s heavy-polluting vehicles “Yellow” and thus has made them known as “yellow-label vehicles.” Beijing now has 353,800 yellow-label vehicles, which account for just 10% of the total number of motor vehicles but make 50% of auto emissions.

(Read the full post about ‘Beijing Set To Phase Out Polluting Vehicles In ‘09′…)

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by Noah Joseph on Dec 31st 2008 at 2:28PM Click above the view a gallery of this custom convertible BMW 850i Long before the retro-licious Z8 and the modern 6 Series, BMW’s range-topping sport coupe was the 8-Series. Characterized by its distinctive shark nose and available with a choice of eight- or 12-cylinder engines, the 8-Series was sadly never offered as a convertible. But it would have made a smart-looking roadster, as one customer was evidently determined to discover.Commissioned by Erik Williams, offensive tackle for the Dallas Cowboys back in their glory days, this one-of-a-kind 1991 BMW 850i convertible is now up for sale by a dealer in New Braunfels, Texas. (Read the full post about ‘Ex-Cowboys’ 1991 BMW 850Ci one-off for sale in Texas’…)

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There’s still some fun to be had in the old BMW Z4. German tuner Hartge used the good ’ol American tradition of stuffing little cars with engines of their big brothers and transplanted the BMW M5’s V10 into a Z4. If that wasn’t enough, Hartge upgraded the 5.0-liter engine from 507 hp to 550 hp. That’s not bad considering the M Roadster comes with 330 hp. All this extra power comes at a price, about $137,700 at current rates. Tags: new cars, exotic cars, Honda, honda (Read the full post about ‘BMW Z4 with 550hp M5 engine’…)

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by Sam Abuelsamid on Dec 31st 2008 at 11:28AM Click the image above to view the video after the jump Ford’s new Active Park Assist system generated plenty of discussion, ranging from those who berated the Dearborn company for following Toyota and those who thought Ford could do it better. Not having actually tried the system ourselves, we’ll reserve judgement on how well it works. However, Ford has put up a video with Ali Jammoul, a Chief Engineer at the Blue Oval, demonstrating the system. In the demo it seems to work pretty well. Check it out for yourself after the jump. [Source: Ford]Tags: Ford, sports cars, toyota, Honda (Read the full post about ‘VIDEO: Ford demonstrates automatic parallel parking’…)

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by Chris Shunk on Dec 30th 2008 at 5:02PMGeneral Motors is celebrating GMAC’s decision to loosen credit restrictions by increasing incentives on many remaining 2008 models. Effective immediately, the General is offering 0% APR for 60 months on the 2008 Chevy TrailBlazer, GMC Envoy, and the entire Saab lineup. All GMT900 full-size SUVs and every member of the 2008 Cadillac lineup also gets a big-time incentive boost, with 1.9% financing available for 60 months. The rock-bottom deals come in addition to cash incentives of up to $4,250. GM is also offering financing as low as 3.9% on select 2009 models, including the well-received Cadillac CTS. (Read the full post about ‘GM ups incentives: zero percent financing for up to 60 months’…)

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by Jeremy Korzeniewski on Dec 30th 2008 at 6:32PMJapan’s car sales are declining, just like they are in most countries. But unlike other markets, auto sales in Japan won’t be recovering anytime soon. The sales outlook is so bleak, in fact, that the Japanese automakers even have a word for it: “kuruma banare,” or “demotorization.” While it may sound more like “kuruma bizarre” to us car-obsessed types, kids in Japan are much more interested in the latest electronic gadgetry than they are with cars, and many have no intention on ever owning an automobile. Early predictions are that 4.86 million new cars will be sold in Japan in 2009, which would mark the first time in three decades that sales have sunk below five million.To help keep traffic flowing inside showrooms, dealerships have taken up rather interesting tactics. (Read the full post about ‘Youth in Asia: Japanese sales plunge as young people abandon cars’…)

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Bumper prototypes don’t usually get us excited, but this one for the 2010 BMW 5-Series is very revealing. If this photo is correct, then the styling may be a little tamer and less 7-Series-like than we were all expecting.

Until now most sites, including ours, pegged the next 5-Series to have a rounder take on the 2009 7-Series’ front end styling. From this picture, the front end seems to keep similar headlights to its bigger brother, but it will use smaller kidney shapes in the grille and will be flatter overall than expected.

True BMW fans should be happy about this front end. The company built its reputation on tame-looking sedans that had sports car performance.

(Read the full post about ‘2010 5-series front bumper design revealed’…)

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