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Lexus introduced the first parallel parking system in a production vehicle when it launched the 2007 Lexus LS460. Ford will be second to the game with its new Park Assist system, though the Blue Oval would argue that their system is easier to operate. To use Park Assist, all you need to do is find a spot where you want to park, hit the park assist button at the back the shifter, and keep driving until you're prompted to stop and shift into reverse. From there, apply the gas and the brakes while the system steers for you. That's it.

We were able to demo Park Assist in an MKS with Ecoboost, and you can see the motion picture for yourself by clicking play on the video above. The system is smack you on the forehead easy, and it'll be available first on the MKS and MKT this summer.

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Lincoln finally unveiled its long-awaited EcoBoost-powered MKS sedan at the 2009 North American International Auto Show in Detroit. The MKS with the EcoBoost powertrain — a turbocharged, direct-injected V6 — puts out a V8-like 355 horsepower and 350 pound-feet of torque while delivering what Ford says is V6 firing material economy.

The MKS is expected to attain fuel economy figures of 16 mpg in the city and 25 mpg on the highway - which Ford says puts it up favorably against the Lexus GS460 and Infinti M45.

A six-speed transmission mates up to the 3.5-liter twin-turbo V6. Ford says that turbo lag has been essentially eliminated due to use of small, quick-spooling turbochargers.

MKS EcoBoost models will be available in the summer of 2009 and will come standard with 19-inch wheels, paddle-shifters, all-wheel-drive and auto highbeam HID headlamps. Externally, the MKS EcoBoost features a revised bodykit and unique badging.

Lincoln hasn’t announced pricing for the EcoBoost MKS.

Source: www.leftlanenews.com

Chrysler says that it is in advanced stages of securing an additional $3 billion in low-interest loans from the United States Treasury. The automaker received $4 billion out of the $17.4 billion the Treasury granted to Chrysler and General Motors. GM says it’s not asking for money and Ford has apparently abandoned its line of credit idea.

Previously, Ford had said it would request a $9 billion line of loan from the government should auto sales weaken later this year.

“We are making good progress to qualify for a total of $7 billion, which puts us in a really good financial position,” Chrysler Vice Chairman and President Jim Press told the Detroit News.

The Treasury didn’t make any comment regarding the talks, though it did confirm to the paper that it is in regular contact with the automakers.

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Source: www.leftlanenews.com