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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 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.

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.

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

Maserati fans will soon be able to marvel at the redesigned 2013 Quattroporte, which will make its world debut at the North American International Auto Show in Detroit this January.

The company plans to increase global sales to 50,000 units by 2015 with the help of three new models including the Quattroporte.

At 5.1 metres, the latter is bigger than its predecessor (5.05 m) yet still offers seating for four. Rear-seat legroom has been increased, and the dashboard sports a new look.

Available powertrains for the 2013 Maserati Quattroporte remain unspecified for now, so we'll have to wait until the NAIAS to find out.

Photo: Maserati

In an effort to bring peace of mind to its customers following today's announcement in the U.S., the Japanese automaker has just released a statement to reiterate how it's ''business as usual'' for Suzuki in Canada.

"Suzuki Canada, including its automotive division, remains fully open for business in Canada and will be honouring all customer commitments," said Bill Porter, senior vice president of sales and marketing.

"Suzuki Canada has no current plans to discontinue automobile sales in Canada nor are we contemplating any form of court-supervised restructuring as they have done in the United States," he added.

That also means Suzuki won't be laying off workers and closing dealerships north of the border, at least not in the foreseeable future.

Almost 35 years to the day, Eddie Cheever Jr will have a chance at testing a Formula One Ferrari like his father did after being invited alongside Riccardo Agostini, the recently crowned Italian Formula 3 champion.

Eddie Cheever Jr. tested in GP2 last week, at Barcelona, with Scuderia Coloni. (Photo: GP2 Series)

Eddie Cheever Sr. was the same age as his son when he first tested for the Scuderia Ferrari back in 1977.

Ironically, it was Canadian Gilles Villeneuve who ended up securing the full-time position for the 1978 Formula 1 season as a teammate of Carlos Reutemann.

Nevertheless, Cheever got his chance first by driving a Theodore TR1 in Argentina in 1978, the first of the 143 grands prix he entered.

After driving for Ligier, Tyrell, Renault, Alfa Romeo and Arrows in F1, Cheever went back to the Unites States where he drove in the CART series for Chip Ganassi Racing.

A few years later, Cheever created his own team, with the financial backing of Red Bull and went on to win the 1998 Indianapolis 500. He retired as a driver in 2002.