Auto News 5

Probably because the rain-shortened race missed out on the final laps that typically draw the most viewers, the Daytona 500's television ratings were down. Full story...

William Taylor, named chairman of the Canadian Automobile Dealers Association (CADA) last October, says he spent a very memorable evening at the Canadian International Auto Show's VIP gala event held on February 12. "The honour of being named Chairman of the Association is one thing, but the honour of celebrating tonight with the three winning dealers of the 2008 Laureate program is quite another!" exclaimed Taylor proudly. Full story...

A source close to the Brackley based formula one team has confirmed that Virgin Group is the late bidder hoping to buy the beleaguered outfit. But Sir Richard Branson is not the only one. Full story...

A Williams spokesman has confirmed that the Grove, UK based team will not use a KERS system at the season opening Australian grand prix late next month. Full story...

Suzuki Canada has made a startling discovery. While all the other automakers established in Canada have rather bleak prospects for the future, Suzuki is riding on a wave of success. Success that Bill Porter, Suzuki's vice-president of sales and marketing, explains is namely due to a brand-new clientele just now discovering the manufacturer. Full story...

Formula 1 testing in Bahrein was the scene over the last two days of two distinct incidents that caused some confusion. Full story...

A source close to the Brackley based formula one team has confirmed that Virgin Group is the late bidder hoping to buy the beleaguered outfit. But Sir Richard Branson is not the only one. Full story...

Red Bull owner Dietrich Mateschitz has promised not to become a roadblock to Sebastian Vettel's Formula 1 title aspirations. Full story...

Suzuki Canada has made a startling discovery. While all the other automakers established in Canada have rather bleak prospects for the future, Suzuki is riding on a wave of success. Success that Bill Porter, Suzuki's vice-president of sales and marketing, explains is namely due to a brand-new clientele just now discovering the manufacturer. Full story...

Yesterday was 'go time' for Chrysler and General Motors- two of the 'Big Three' automakers who have asked Uncle Sam for bailout funds to ensure their continued operation. Full story...

As required by congress as a condition of GM's financial bailout, the automaker today unveiled its restructuring and viability plan in the midst of a worsening economic downturn that's left the world's automakers reeling. Full story...

There is no sane reason for sticking a twin turbo V8 into a SUV(technically a CUV because it is a car type platform), let alone add a sport option that remaps the fuel injection and boost pressure settings to produce 550 horsepower and 553 lb.ft. of torque. If you really want to justify the numbers, then you switch to horsepower to weight and here the Cayenne falls into the same category as Hemi Roadrunners from the muscle car era of the sixties, or you could compare it to a new Z06 Corvette. I'm sure this makes it all reasonable. Full story...

GM asked the federal government on Tuesday for as much as $16.6 billion in additional federal aid to help it survive. Without the new funding, the automaker could run out of money sometime in March. Full story...

General Motors and Chrysler LLC included bankruptcy scenarios in the viability plans they submitted to the federal government today -- but both companies continue to reject the option. Full story...

In submitting its viability plan to the federal government on Tuesday, Chrysler asked for an additional $2 billion beyond the $7 billion in loans it sought late last year and outlined further steps to cut costs. Full story...

General Motors is accelerating its restructuring plans for Europe and is considering "several" plant closures or spin offs. The company also says its Saab unit could file for reorganization as early as this month. Full story...

Key Plastics LLC, a maker of plastic components for cars and trucks, has completed its prepackaged bankruptcy, the company said this week. In a statement posted on its Web site on Monday, Key Plastics said its reorganization plan took effect on Feb. Full story...

Ford Motor Co. said late today that it had reached a tentative agreement with the UAW that will help the company avoid seeking emergency loans from the U.S. government. Full story...

DETROIT -- In submitting a viability plan to the U.S. federal government Tuesday, Chrysler asked for an additional $2 billion beyond the $7 billion in loans it sought late last year and outlined further steps to cut costs. Full story...

The UAW today reached tentative agreements with the Detroit 3 on concessions to help the automakers weather the recession. But the thorny issue of swapping debt owed to retiree health-care funds for company stock remains unresolved. Full story...