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News 7 Nov, 2012

Comparison sites promise big savings, but do they give you the best deal?

BMW said revenues for the three-month period from July to September 2012 rose 13.7% to EUR18,817m (2011: EUR16,547m). EBIT increased 13.8% to EUR2,004m (EUR1,761m). EBT improved 17.6% to EUR1,987m (EUR1,689m). Net profit was 16.0% up at EUR1,289m (EUR1,111m).

Nine-speed transmissions might have reached the 'natural limit' because going beyond that number of gears adds weight and complexity that cannot be offset by gains in fuel efficiency, ZF Friedrichshafen CEO Stefan Sommer said.

UK new-car sales rose 12.1 percent to 151,252 in October, in stark contrast to other major European markets that saw big drops in demand.

The UK new car market continued to buck the trend in Europe as a whole in October as it posted growth of 12.1% on last year.

Russian Railways (RZD) has inked the contract to acquire 75% of PSA Peugeot Citroen's logistics subsidiary, GEFCO, for EUR800m (US$1.02bn) that will be used to pay down the automaker's major debt.

Strong growth in vehicle sales in Australia continued in October, distinguished yet again by consumers' continued preference for sports utility vehicles, according to official VFACTS data released from the Federal Chamber of Automotive Industries (FCAI)

Pictures 6 Nov, 2012

Although Nissan Motor reported small increases in operating and net profits for its second fiscal quarter to 30 September, it has revised its full year forecasts downward due to the "strong yen, disruption in China and deteriorating market conditions in Europe".

News 6 Nov, 2012

The Renault Zoe has won the third annual Brighton-to-London eco race

General Motors secured an $11 billion revolving credit facility, more than doubling its financial cushion and further strengthening the balance sheet of the largest U.S. automaker.

Suzuki's US distribution arm has filed for bankruptcy and said it will exit the US auto market.

Nissan cut its full-year net profit forecast by a fifth to $3.99 billion after it said it had lost share in China, its biggest single market, following anti-Japanese protests in the country. Net profit in the second quarter rose 7.

Nissan Motor Co. cut its full-year net profit forecast by a fifth to $3.99 billion after it said it had lost share in China, its biggest single market, following anti-Japanese protests in the country. Net profit in the second quarter rose 7.

BMW reported a 14 percent gain in third-quarter profit as growth in China helped offset a market downturn in Europe. Earnings before interest and taxes rose to 2 billion euros ($2.56 billion) from 1.

BMW Group reported a 14 percent gain in third-quarter profit as growth in China helped offset a market downturn in Europe. Earnings before interest and taxes rose to 2 billion euros ($2.56 billion) from 1.

A123 Systems, the bankrupt maker of electric-car batteries, won court approval to borrow $50 million from China's Wanxiang Group.

On Tuesday, Kevin Magnussen, son of former Formula 1 driver Jan Magnussen, set the best time of Day 1 at the final three-day young driver test at Abu Dhabi.

Kevin Magnussen spent the morning's session acclimatising to his first run in a McLaren F1 car.

Kevin Magnussen, McLaren MP4-27. (Photo: WRi2)

That meant a focus on a host of gradual set-up changes, firstly to introduce him to the behaviour of a grand prix car under different mechanical influences, but also to fine-tune the car's set-up to his personal preference. The team declared they were impressed with the Dane's progress and aptitude.

Red Bull Junior driver, António Félix da Costa, was at the wheel of the Red Bull RB8 and emerged second quickest.

Antonio Felix da Costa, Red Bull RB8. (Photo: Red Bull Racing)

The Red Bull team split the allotted time between mechanical work in the morning and aero-mapping during the afternoon.

Gary Paffett undertook the afternoon's running at McLaren, undertaking a program primarily focused on evaluating a wide number of aerodynamic and suspension developments. He ranked third.

The team revealed that Paffett's workload also required a consistent baseline, meaning he drove without the benefit of DRS and quite below the limit in order to eliminate unwanted variables.

Fourth overall was Robin Frinjs, the newly crowned 2012 Formula Renault 3.5 World Series champion.

Robin Frijns, Sauber C31. (Photo: Sauber F1 Team)

Frinjs started the day with hard tires and did some aero work in the morning before actually working on his lap time. Towards the end of the day, the Sauber team gave his a taste of different tire compounds and went with a set of medium and a set of soft.

Nicolas Prost was fifth in the Lotus-Renault. The son of Alain Prost completed a full engineering and aerodynamic programme. Pressure logging and aerodynamic testing were performed in the morning, while evaluation of rear drum configuration and further aerodynamic testing were done in the afternoon.

Nicolas Prost, Lotus E20. (Photo: Lotus F1 Team)

Luiz Razia was at the wheel of the Toro Rosso STR7, chassis No. 3, last raced in the Italian Grand Prix, back in September. He was sixth quickest, followed by Giedo van der Garde in the Caterham-Renault.

Young driver test, Yas Marina circuit, Abu Dhabi, Day 1:

Pos Driver Constructor Best time* Laps
1 Kevin Magnussen McLaren 1m42.651s 40
2 Antonio Felix da Costa Red Bull Racing 1m42.717s 79
3 Gary Paffett McLaren 1m43.407s 44
4 Robin Frijns Sauber 1m43.775s 78
5 Nicolas Prost Lotus-Renault 1m44.194s 55
6 Luiz Razia Scuderia Toro Rosso 1m44.691s 67
7 Giedo van der Garde Caterham 1m45.936s 57
*Unofficial timing

Looks familiar? Nicolas Prost in the Lotus E20. (Photo: Lotus F1 Team)

Tony Fernandes, the Malaysian businessman and owner of AirAsia airlines, will soon leave his position of team principal of the Caterham Formula 1 Team.

Fernandes, who created his F1 team for the 2010 World Championship (under the Team Lotus name) told British motorsport publication Autosport that he will step down at the end of this season to concentrate on the road car business.

Last year, Fernandes purchased Caterham, a small British sports car manufacturer, and has recently signed an agreement with the Renault group to produce the new Alpine road cars.

Fernandes has always said that his days as F1 team boss were numbered, as he wanted to more experienced people than him to run the team.

“On the racing side we have come to the conclusion that it is better if someone else takes over the team principal role to move forward,” Fernandes said in a joint interview with Autosport's sister publication Autocar.

The Malaysian did not say who his successor will be, but he indicated it would be someone already involved in F1.

Sebastian Montoya, the 7-year-old son of NASCAR driver Juan Pablo Montoya and wife Connie has started his motorsport career racing karts in Florida.

Young Sebastian started karting at the tender age of 4, away from the media to avoid putting any excessive pressure on his small shoulders.

This year, Sebastian entered some real races, competing in the Rotax Micro Max Challenge held at the Homestead-Miami circuit near Miami, Florida.

In the Fall Championship, Sebastian scored 354 points to rank 8th. The youngster drove a Birel chassis powered by a spec Rotax 125cc engine fitted with the famous No. 42 his father sports in the NASCAR Sprint Cup series.

Sebastian Montoya. (Photo: Twitter Juan Pablo Montoya)

The motorsport bug runs in the familty: Juan Pablo's father, Pablo, was a racer himself. Juan Pablo's younger brother, Federico, also raced karts and competed in the 2004 ADAC Formula BMW series, without too much success. Oh, Federico was also a teammate of a certain Sebastian Vettel at Mücke Motorsport that same year...