All posts by Jim Dvorak

Managing Director of SOEC since 2005. Veteran of the Southern California automotive scene. Involvement with Saleen dates back to the mid 1990s.
Press Release

MICHAELS LAW GROUP: JURY TEACHES TOYOTA A LESSON ON HOW TO TREAT ITS SUPPLIERS

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NEWPORT BEACH, Calif., Aug. 25 /PRNewswire/ — Ending nearly two years of litigation, an Orange County jury recently voted unanimously in favor of SVP International and against Toyota Motor Sales, USA, awarding significant damages to the Toyota supplier.

SVP was hired by Toyota in August 2007 to design and engineer a high-performance version of the Tundra truck that would serve as Toyota’s entrance into the high-performance vehicle market. This case was of national importance, as it was Toyota’s first attempt at entering the high-performance segment. SVP expected that after the high-performance Tundra was completed, it would build other high-performance vehicles for Toyota, possibly including the premier Lexus brand.

SVP, a company founded by race-car driver Steve Saleen and entrepreneur Wayne Grafton, was selected by Toyota through a lengthy competitive bid process. Yet, after Toyota contracted with SVP, and after SVP began working on the project, Toyota cancelled the project with SVP and later cancelled the program altogether. When Toyota refused to recognize SVP’s contract or any of the work that SVP had performed, Michaels Law Group filed suit against the manufacturer in the Orange County Superior Court.

Jonathan Michaels, founding member of Michaels Law Group, had the following to say: “What was most disappointing about this case is the way that Toyota handled it. They knew that a contract for the project had been issued, and that SVP had begun working on the project and had incurred expenses, yet they completely disregarded SVP altogether.”

The jury apparently agreed with Michaels’ assessment. After a 4-week trial, the jury returned a unanimous verdict against Toyota, awarding significant damages to SVP. “This case is important in that it shows that small businesses have a voice,” says Michaels. “Toyota is not above the law, and we are not afraid to prove it to them.”

Following trial, Toyota entered into a confidential settlement agreement with SVP, whereby SVP agreed to not disclose the amount of the jury verdict.

ABOUT MICHAELS LAW GROUP
Located in the heart of Newport Beach, Michaels Law Group is a full service business law firm, specializing in complex litigation and advanced business transactions, with a specialty in the automotive industry.

Founding member Jonathan Michaels, an avid car collector and automotive enthusiast, has litigated cases against nearly every automotive manufacturer and has been involved in structuring some of the most significant automotive transactions to date. With this unique background, Michaels Law Group has become well-known in the automotive industry as the “go to” firm for business transactions and automotive-related disputes.

If you’d like to schedule an interview with Jonathan Michaels, please contact Kelly Pion at 949.581.6900 or email Kelly at kpion@michaelslawgroup.com.

RELATED LINKS
http://www.michaelslawgroup.com

[SOURCE Michaels Law Group]

Press Release

2010 SALEEN 435S: HIGH PERFORMANCE VALUE – UNMISTAKABLY SALEEN

“In these difficult economic times we wanted our first vehicle to deliver a lot for an affordable price,” — Mike Shields, CEO of Saleen Performance Vehicles.

MYRTLE BEACH, S.C., July 24, 2009 – Saleen Performance Vehicles today unveiled its first 2010 product, the Saleen 435S, based on the new 2010 Ford Mustang. The introduction took place as part of the Special Vehicle Team Owners Association’s annual “Mustang Week” event. The 435S is the first vehicle launched under Saleen’s new ownership, following the purchase of Saleen Inc. earlier this year.

This car continues the Saleen tradition of offering limited-edition, high-performance vehicles for enthusiasts who are looking for an exhilarating driving experience, with refined drivability for real-world road conditions.

The 435S is designed to provide affordable, high-value performance.

“In these difficult economic times we wanted our first vehicle to deliver a lot for an affordable price,” said Mike Shields, CEO of Saleen Performance Vehicles. “It was created much more for ‘go’ than for show. We focused on power and handling, and it’s a great platform to build on if a customer wants to take it farther later on.”

The heart of the car’s performance is its 4.6-liter, 3-valve SOHC V8 engine, complete with a Saleen Series VI twin-screw supercharger and two-stage intercooler. This engine produces a vigorous 435 horsepower and 425 lb.-ft. of torque, is mated to a 5-speed manual transmission, and has a 3.73:1 rear axle ratio with limited-slip differential.

The car rides 1.5 inches lower than a Mustang GT, thanks to its Saleen Racecraft performance suspension. The system is designed to reduce body roll, provide nimble, precise handling and improve traction, while retaining the compliant ride of a good daily driver. The suspension package includes springs, a stiffer front stabilizer bar, and nitrogen-pressurized shock absorbers tuned exclusively for the 435S.

The vented brake rotors, front and rear, are slotted and cross-drilled for improved feel and stopping performance. Larger, 14-inch slotted front rotors with 4-piston calipers are available as an option.

The 435S has the Saleen-signature long, low, sleek looks and aggressive stance that have distinguished the company’s previous cars. Traditional Saleen styling cues include an understated trim panel between the taillights with “Saleen” in raised lettering, mesh covers over the fog lights in the grille, and the Saleen name and chevrons as graphic elements placed low on each side. An optional Aero Package includes a lightweight chin splitter and rear spoiler for improved aerodynamics.

Other exterior highlights include unique, 18-inch, 5-spoke alloy wheels (19- and 20-inch wheels are available), and “435S” lettered on each side of the hood’s power dome.

Inside, the modifications are designed to enhance the driving experience and to express the car’s character. These include a new, short-throw shifter for quick, precise gear-changing performance, and new, driver-oriented gauges. These uniquely styled gauges retain Mustang’s MyColor™ capabilities that allow the owner to select from more than 125 custom colors for the instrument cluster. The car’s identity is highlighted by a Saleen logo embroidered on the headrests.

“All in all, we believe the 435S is the right car at the right time,” said Shields. “It’s a terrific performance value that we’re proud to offer. And this is just the first of many great Saleen vehicles we’ll be launching in the future.”

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Press Release

STEVE SALEEN PRESENTS: 2010 SMS 460 MUSTANG

Orange County, California. (July 20, 2009) Yesterday, Steve Saleen and his company SMS Supercars unveiled the first CAD illustrations of the 2010 SMS 460 Mustang at the “Mustangs Northwest Roundup” event in Seattle. The SMS 460 Mustang will be the only Mustang authorized to bear Steve Saleen’s name, to use the benefit of his heritage and to incorporate his performance innovations derived from over thirty years of racing and manufacturing experience. Steve Saleen, President and CEO of SMS Supercars: “The SMS 460 Mustang embodies everything I stand for. It reflects my unrivalled tenure in the Mustang business, my passion and love for the Mustang brand.” The SMS 460 Mustang’s striking design separates it from any other vehicle in the market. Chief Creative Officer of SMS, Phil Frank notes, “Steve Saleen’s new SMS 460 Mustang is a dramatic, timeless and iconic visual statement that confidently leads the pack, continuing the evolution of the image of the Steve Saleen brand.” The SMS 460 Mustang is in final tooling and prototype testing stages and the market launch is planned for later this year.

The SMS 460 Mustang will offer a 4.6 liter V8 engine featuring 470 hp and 427 ft-lb of torque, while the even more powerful SMS 460X Mustang engine with all new internals and extensive headwork pumps out 655 hp and 600 ft-lb from the enlarged 5.0 liter V8. Both use the new (patent pending) SMS 296 Supercharger for their incredible horsepower and torque gains. Transmission options are a 5-speed automatic or 5-speed manual on the 460 or a 6-speed SMST manual on the top of the line 460X. Performance for both cars is striking.

The SMS 460 Mustang accelerates from 0 to 60 in under 4.5 seconds, while the 460X manages the same in closer to 4. In addition to engine output, handling, road holding and braking improvements, the 2010 SMS 460 Mustangs will feature Steve’s signature Watt’s linkage suspension with all-new geometry. New SMS 15” six piston front and 13” four piston rear brakes deliver impressive stopping power to match the jaw-dropping acceleration. The SMS 460X Mustang will also feature the unique (patent-pending) Steve Saleen Red Butterfly Induction System. The interior with all-new Alcantara and leather SMS performance seats features the patented Signature Series chevron stripes. Multiple seat chevron and SMS unique exterior colors are available through the SMS Tailor Made options.

Steve Saleen receives Lee Iacocca Award for “dedication to excellence”

On July18, 2009, Steve Saleen was honored with the prestigious Lee Iacocca award for dedication to excellence in perpetuating an American Automotive Tradition during the “Mustangs Northwest Roundup”. Says Steve: “I am humbled to receive this award, it reflects my over thirty years of ongoing involvement in the passion and love for Mustangs.”

About Steve Saleen’s SMS Supercars – Speed, Science and Style

Steve Saleen’s SMS Supercars, a company founded by renowned race driver and automotive icon Steve Saleen, is a manufacturer of high-end lifestyle performance vehicles, technical performance parts, lifestyle accessories and apparel. Steve Saleen’s SMS Supercars designs, engineers, tests, certifies, manufactures and assembles all of its own products and vehicles. SMS Supercars’ first products, the SMS 570 and SMS 570X Challengers were launched in early 2009, with the SMS 460 and SMS 460X Mustang models destined for market entry later in 2009. Customers interested in buying the only authorized Steve Saleen Mustang can contact SMS Supercars directly at www.smssupercars.com or by calling (714) 400-2121.

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[Source: SMS Supercars]

Press Release

RESPONSE FROM SALEEN PERFORMANCE VEHICLES TO THE LAWSUIT FILED BY STEVE SALEEN AND SMS SUPERCARS THIS PAST WEEKEND

To note:

  • In February, 2009, MJ Acquistitions purchased many of the assets of Saleen Inc., including the rights to the Saleen brand, and certain assets relating to Saleen’s supercharger, aftermarket and high performance street vehicle businesses.
  • That part of the company is now doing business as Saleen Performance Vehicles, as a member of the automotive technology enterprise that also includes Power-Tec Engineering, Cyltec, Control-Tec, and Arrow Racing Engines.
  • Saleen Performance Vehicles is preparing to launch two, new Saleen high-performance 2010 Mustangs this year, including a vehicle later this week during Mustang Week activities in Myrtle Beach, SC.
  • Steve Saleen officially left Saleen, Inc. in 2007.

Statement from Mike Shields, President and CEO of Saleen Performance Vehicles:

TROY, Mich., July 20 — We’re dismayed by the lawsuit that was filed this weekend by Steve Saleen, and even more disappointed by the fact that it appears to be an attempt to disrupt the debut of our new Saleen vehicle this week.

Our company’s purchase of certain assets in February entitles us to use the Saleen brand for our superchargers, aftermarket parts and high performance vehicles, and we look forward to continuing the legacy of great Saleen products that fulfill the brand promise of ‘Power in the Hands of a Few.’

While this lawsuit is an unfortunate minor distraction, our dedicated team of enthusiasts is excited about not only the launch of our exciting new Saleen car later this week, but also on working closely with our loyal dealers and customers to ensure their satisfaction. As I stated last week during a media teleconference, we are working to resolve past warranty issues and have every intention of going forward with a warranty policy that will provide confidence to all our valued stakeholders.

The Saleen Performance Vehicles brand is not about one person. It represents a legacy of high-performance vehicles that has developed over the past quarter century, and we feel privileged to be entrusted with that legacy going forward. Everyone in our company takes that responsibility seriously. That’s why we’re so enthusiastic about the future of our company, and why we can’t wait to begin its latest chapter this week at Myrtle Beach.

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Enthusiast News

STEVE SALEEN HONORED WITH LEE IACOCCA AWARD AT MUSTANGS NORTHWEST ROUNDUP

Bellevue, Washington — July 18, 2009 — SOEC Exclusive — by Jim Dvorak

In a hotel atrium full of Mustang enthusiasts gathered for the 29th annual banquet of the Mustangs Northwest Roundup, a very surprised Steve Saleen was presented with the prestigious Lee Iacocca award for his “dedication to excellence in perpetuating an american automotive tradition.”

Since starting Saleen in 1983, Mr. Saleen has been a significant contributor to the Mustang hobby through is racing, automotive manufacturing and aftermarket parts businesses, as well as his public appearances and interactions with fans.

The trophy was presented jointly by National Parts Depot’s Rick Schmidt and Saleen owner and enthusiast Bill Smallwood III, who resides on the organizing commitee of the Mustangs Northwest Roundup.

Steve and Liz Saleen have been attending and supporting the Mustangs Northwest Roundup since 1993, an event which has been known as the “World’s largest annual gathering of Mustangs,” and is also established as the largest gathering of Saleens year after year. The Mustangs Northwest committee attribute much of their success to the continued support of Mr. and Mrs. Saleen.

Other honors Mr. Saleen has received in the past include being inducted into the Mustang Hall of Fame.

The Lee Iacocca Award was created by the Iacocca Foundation for car clubs and shows to acknowledge car enthusiasts and their passion for maintaining an American tradition. This beautiful award is a one of a kind elegant plaque with a likeness of Lee Iacocca and his signature engraved in gold. The Iacocca Foundation supports Type 1 diabetes research.

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Press Release

“THERE IS ONLY ONE SALEEN” SAYS STEVE SALEEN AS HE TAKES ACTION TO PROTECT HIS NAME

Orange County, California. (July 17, 2009) Steve Saleen and his company, Steve Saleen’s SMS Supercars, announced today that they have filed a lawsuit in the Superior Court in California, seeking an order directing MJ Acquisitions, Inc. to cease and desist from promoting their products under the Saleen name in any form. Concurrently, Mr. Saleen is also seeking additional, related remedies from the company that formerly carried his name. This action is an additional move to continue to protect the name, reputation and brand value of Steve Saleen, and to reassure his loyal customers, dealers and car enthusiasts that only Steve Saleen’s SMS Supercar performance vehicles and products are genuine and deserving to carry his name. Steve Saleen ceded control of the company he founded, Saleen, Inc., in 2003 and left it completely in the spring of 2007 without any further management association. The non-enthusiast corporate executives sold a number of assets to a company by the name of MJ Acquisitions, Inc., changed the company’s name, and in early 2009 ceased operations altogether.

True Steve Saleen performance vehicles again available in the market

After having left his previous company, Mr. Saleen started Steve Saleen’s SMS Supercars in 2008 and unveiled his newest creation, the SMS 570 Challenger, in January of this year. After having participated in the 2009 National American Dealers Association show as part of the official Chrysler Group display, Steve Saleen’s SMS Supercars successfully launched the SMS 570X Challenger and the new SMS 296 Supercharger at the New York International Auto Show in April of 2009, where many media ranked them among the stars of the show. Steve Saleen’s SMS 460 and 460X Mustangs were announced at the 45th Mustang Anniversary show in Alabama in April, with more info and images to be released this weekend at the Mustangs Northwest Roundup in Seattle and during the 2009 Mustang Week in Myrtle Beach starting Monday, July 20.

Steve Saleen steps up and protects his brand, name, reputation and customers “SMS Supercars is the new Saleen” (Steve Saleen)

In April 2009, Steve Saleen announced support for his customers and dealers affected negatively by the demise of the company that long carried his name. In a statement issued in April, he said: “The company I launched a long time ago announced it will no longer honor its product warranties, nor will the acquiring company for those assets, MJ Acquisitions, Inc. This kind of ‘customer treatment’ damages my reputation, misleads customers and cannot be left unaddressed.” Steve Saleen announced that SMS Supercars would guarantee the warranties that MJ Acquisitions abandoned. Mr. Saleen went on to say: “It amuses me that faceless executives and wannabes are trying to misrepresent themselves as some kind of continuation of Saleen, which they are not. SMS Supercars is the true Saleen. It is the only company I endorse, the only company entitled to use my name and legacy, and the only company that carries my signature on its products, because they are my products. The legal action we have undertaken today will emphasize once and for all that the only genuine Saleen products are mine.

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[Source: SMS Supercars]

Enthusiast News

SALEEN PEFORMANCE VEHICLES UPDATE: FOUR EXCITING MONTHS FOR THE “NEW” SALEEN

June 19, 2009 — Irvine, California — After more than four months into the ownership of Saleen Performance Vehicles, President and CEO Mike Shields updates Saleen Owners and Enthusiasts Club members on the status of the company and its future plans in a statement released today.

Since the time Shield’s MJ Acquisitions purchased the assets of the production car and aftermarket divisions of Saleen from then-majority owner Hancock Park Associates, an extensive review process of the team, the company’s products and future direction has been undertaken. Certainly a challenge hard to ignore is how the brand will differentiate itself from Steve Saleen’s SMS Supercars, a business Saleen founded after leaving Saleen Inc. in 2007.

Part of this transition process for the new Saleen Performance Vehicles has been to integrate it with its new affiliates as a result of its relationship with MJ Acquisitions’s sister companies — Cyltec, LLC; Power-Tec Engineering LLC; Arrow Racing Engines LLC and Control-Tec LLC.

Shields, who now drives a S281 Supercharged Saleen Mustang in Lizstick, previously told SOEC that they will now be utilizing the resources of their sister companies to bring Saleen’s supercharger manufacturing in-house, as the company previously Saleen outsourced key components, such as the screws, from Europe. Other such consolidation and utilization of the companies is expected in the future.

“We will use the engineering, design and manufacturing resources of all the affiliated companies to take the Saleen brand forward, and are very pleased with the progress being made,” said Shields in today’s statement. “As we stated. . . when we acquired Saleen [on February 2, 2009], our intention is to ensure the process of delivering high-quality automobiles and components to consumers is not disrupted and the promise of ‘Power in the Hands of a Few’ continues.”

Certainly a heated topic among owners of newer models is a lack of a new-car warranty on the Saleen portion of the vehicle which is not covered by Ford. Shields further explained, “there has been some discussion and misperception about our decision not to honor warranty costs before our February 2, 2009 purchase. We are actively investigating warranty options for vehicles in dealers’ inventories and sold units still under their original warranty coverage. We are committed to resolving this issue and expect to make further announcements about this soon.”

For repairs that would normally be in-warranty or that require Saleen-provided parts, to assist owners, the company does continue to offer replacement parts to dealers at a discounted rate, in addition to a 1-year/12,000-mile warranty on eligible parts sold after February 2, 2009.

In a bold move in April, Steve Saleen stepped-up in a big way with the following statement:

“If any Saleen customer in the United States who purchased a Saleen Inc. product up until February 2, 2009, has a warranty claim, they can directly contact my new company, SMS Supercars. We will honor their remaining warranties as if they were SMS Supercars warranties.

Owners should contact SMS before visiting their dealer, and more details can be found at http://saleenwarranty.org.

Of course, individuals wishing to purchase Saleen-branded repair or replacement parts, graphics, letters of authentication or other services can continue to call Saleen Speedlab in Michigan at 1-800-888-8945 .

Shields emphasized, “The most important thing I want to stress is there will be a Saleen going forward, including new performance vehicles we will begin to unveil as early as this July in Myrtle Beach, South Carolina. Although it’s a challenging time to be in the automotive business, those challenges create great opportunities, and we’re excited about the future of Saleen, our loyal customers and dealers going forward. We want to enhance the image of the Saleen brand by bringing out the best products in the company’s history.”

Shields also promises us some exciting news in the coming weeks, and certainly Saleen owners and enthusiasts are going to be on the edge of their seats!

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Enthusiast News

2010 SALEEN S-SERIES “WORKING IMAGE” LEAKED

2010 Saleen Mustang
2010 Saleen Mustang

2010 Saleen S-Series “Working Image” Leaked

By SOEC/Saleen Forums News — May 8, 2009 — Irvine, California

Earlier this week there were several sightings of a “2010 Saleen” image circulating the Internet and it has since been confirmed by more than one source at Saleen as being a working image of a 2010 Saleen and leaked by “one of our temps,” said a Saleen insider.

The image, displayed above, is said to have several characteristics of the final vehicle design, though it was an early working image and was not supposed to become public. While clearly a “Photoshop” depicting a sculpted Saleen with the Fabulous Forum arena of Los Angeles in the background, it is said to give good insight on the new model.

Conversations with Saleen insiders indicate the 2010 S-series will include an S281 model, though a 302 model has not yet been divulged. Initially it was thought it might be until 2011 for the next S-series, but it seems they are moving forward ahead of schedule.

The leaked image is putting to rest rumors that the Saleen brand would die after Hancock Park Associates sold the majority of Saleen assets to MJ Acquisitions earlier this year. But Mike Shields of MJ/Saleen has told SOEC that he and his partner and brother Joe Shields grew interested in keeping the brand alive as they enjoyed driving their Saleen Mustangs.

Shields, who drives a Lizstick red S281 Supercharged Mustang, also told SOEC that they will now be utilizing the resources of their sister companies Cyltec, Power-Tec Engineering, Arrow Racing Engines and Control-Tec. One example is to bring Saleen’s supercharger manufacturing in-house. Previously Saleen outsourced key components, such as the screws, from Europe.

In a related story, a proposed “Racecraft” model has been visually presented to Saleen and Ford dealers earlier this year with mixed reviews. While revisions are being made to its appearance package, a new name is also rumored to be assigned to the brand.

About Saleen: Hancock Park Associates, having been controlling stakeholder in Saleen since 2003, sold certain assets (most everything but the S7 program and the paint facility) to MJ Acquistions earlier in 2009. MJ Acquisitions is run by partners Mike and Joe Shields, who have also considered purchasing the Viper brand from Chrysler, which seems a natural as Arrow Racing Engines has provided services for the Viper program in the past. The Hancock Park Associates-owned remainder of Saleen has since changed its name to Plex. MJ Acquisitions is now doing business as Saleen.

About SOEC: The Saleen Owners and Enthusiasts Club was founded in 1991 and is the premiere organization of Saleen owners with more than 3,000 members worldwide. As the officially-recognized organization for the brand, each new Saleen owner receives a complimentary 1-year membership in SOEC. SOEC’s website, https://www.soec.org, gets nearly 40,000 visits a month by owners and enthusiasts alike, enjoying the world’s largest historical archive of Saleen-related literature and other resources. SOEC’s Saleen Forums has over 1,500 registered users, and is the largest and most active Saleen community online.

— Saleen Owners and Enthusiasts Club

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Press Release

STEVE SALEEN PONIES-UP, CELEBRATES 25 YEARS IN THE BUSINESS AND 45 YEARS OF MUSTANGS WITH 2010 SMS 460 MUSTANG

Orange County, California. (April 17, 2009) — Steve Saleen, his name being synonymous with fast Mustangs, would not be Steve if he kept his hands off Ford’s newest pony. On the occasion of the 45th anniversary of the launch of the original Mustang in 1964, and in reflection on his 25 year association with America’s iconic sports car, Steve celebrates with Mustang aficionados and SMS Superclub members from around the world in launching first sketches of the 2010 SMS 460 and SMS 460X Mustangs at the 45th Anniversary Celebrations in Birmingham, Alabama. The festivities will continue all weekend, including at the Fabulous Fords Forever at Knott’s Berry Farm in Buena Park, California on Sunday with more than 1,000 Mustangs participating, including more than 50 Saleen owners and their vehicles.

Instantly recognizable as Steve Saleen’s work, the new SMS 460 Mustangs feature a host of visual and technical highlights that set them apart from the crowd. “I previewed many of the features of my newest Mustang with the 25th anniversary car I showed last year,” says SMS Supercars CEO and President Steve Saleen. The front fascia treatment, the SMS Red Butterfly Air Induction Hood™, the front and side splitters, the rear fascia and diffuser with the high downforce rear wing showed the way Steve Saleen is looking at Mustangs today. “You have to go with the times. While the Mustang remains an icon, Ford has done a very good job with the 2010 model. I wanted to interpret it using my signature to create the latest Steve Saleen version of this American favorite.” The SMS 460 Mustang offers a 4.6 liter V8 engine featuring a minimum 470 hp and 427 ft-lb of torque, while the even more powerful SMS 460X Mustang engine with all new internal and headwork delivers 655 hp and 600 ft-lb out of the enlarged 5.0 liter V8. Both use the new (patent pending) SMS 296 Supercharger presented last week at the New York International Auto Show. Transmission options are a 5-speed automatic or 5-speed manual on the 460 or a 6-speed SMST manual on the top of the line 460X.

Performance for both cars is expectedly striking. The 460 Mustang accelerates from 0 to 60 in the low 4 seconds, while the 460X manages the same in the lower 4’s. In addition to engine output, handling, roadholding and braking play an equally important role. The 2010 SMS 460 Mustangs feature Steve’s signature Watt’s linkage suspension with all-new geometry. New SMS brakes front and rear deliver impressive stopping power to match the jaw-dropping performance.

The interior with all-new Alcantara and leather SMS performance seats features the patented Signature Series chevron stripes. Dash and interior panels are covered in hand-stitched high-quality leather. Multiple seat chevron and SMS unique exterior colors are available.

More details about Steve Saleen’s latest Mustang will be revealed in the spring of 2009, deliveries are expected to start mid-summer. Customers interested in buying a SMS 460 and SMS 460X Mustang can either contact SMS Supercars directly at www.smssupercars.com or by calling (714) 400 2121.

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[Source: SMS Supercars]

Press Release

STEVE SALEEN AND SMS SUPERCARS EXTENDS WARRANTY SUPPORT TO LOYAL CUSTOMERS

Breaking News by SOEC Staff — Orange County, California — April 2, 2009 — In an unusual step, SMS Supercars Chairman and CEO, Steve M. Saleen, announced to Saleen Owners and Enthusiasts Club members a new and bold measure today with regards to customer warranties on products produced by his former company, Saleen, Inc.

Recently Saleen Inc. announced it has ceased all operations, claims it has sold certain assets to MJ Acquisitions, Inc., and has even changed its name. In a statement made on March 6, 2009 to all Saleen dealers, MJ Acquisitions announced that while “regrettably, Saleen, Inc. is unable to honor any warranties,” MJ Acquisitions will “not be responsible or obligated to cover warranties and/or financial liabilities of Saleen, Inc.”

“I was saddened about the way the current owners of the proud company I founded, and which held onto my name after my departure two years ago, have now dealt with my loyal and longtime customers,” said Mr. Saleen, who founded Saleen over 25 years ago. Mr. Saleen remained the company’[/SIZE]s CEO until 2006, and left the company completely in the spring of 2007. Since then Mr. Saleen has had no control of, or operational role with, his former company, its operations or its current shareholders, Hancock Park Associates.

“The ones who have been left out in the cold are the loyal customers of Saleen products,” continued Mr. Saleen, “While my new company, SMS Supercars, has no legal or moral obligation to take up any of the warranty claims against Saleen, Inc. or MJ Acquisitions, Inc., I would like to make a bold statement on the right way to treat customers.”

“If any Saleen customer in the United States who purchased a Saleen, Inc. product up until February 2, 2009, has a warranty claim, they can directly contact my new company, SMS Supercars,” continued Mr. Saleen. “We will honor their remaining warranties as if they were SMS Supercars warranties.” SMS Supercars’ warranty terms will apply.

“This unusual step in these uncertain times is a measure to assure that my past and future customers, as well as Saleen and Ford dealers around the United States, continue to have faith in products bearing my name”, said Mr. Saleen, who went on to say, “Customers who have bought a Saleen product in the past will receive the attention and care they and the Saleen products deserve.”

“Despite claims from any other company,” continues Mr. Saleen, “SMS Supercars is the only company that today offers products endorsed by Steve Saleen.”

SMS Supercars, based in Orange County, California, is a manufacturer of high-end lifestyle performance vehicles. As his first new product, Steve Saleen launched the new SMS 570 Challenger in Newport Beach, California, on January 21, 2009. The world premiere of the new SMS 570X Challenger is scheduled for April 9, 2009, at 1.30 p.m. at the New York International Auto Show.

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