From GMM
The German bank BayernLB wants Bernie Ecclestone to repay US $400 million, the Suddeutsche Zeitung newspaper reports on Thursday.
The bank claims that is the amount it lost due to its sale of formula one shares some years ago to the sport's current owner CVC, with the transaction having been subsequently called into question over the Gerhard Gribkowsky corruption scandal.
Suddeutsche Zeitung said BayernLB's lawyers have sent a letter, detailing the extraordinary damages, to F1's billionaire chief executive.
BayernLB claims that, with Gribkowsky allegedly bribed millions by Ecclestone and now providing information to authorities, the now-jailed banker vastly undervalued its F1 shares.
The announcement that Ford will close its Genk, Belgium, plant begins what will be a long, painful road for North American suppliers if they don't react quickly as the European economic crisis deepens, experts say.
We know that at least four Mustang will join the F-150,
The Motor Accident Commission of South Australia is concerned about the negative impact that low-level speeding has on pedestrians.
Ford intends to close its van plant in Southampton, England, its last vehicle-making factory in the UK, said people familiar with the automaker's plans.
Sluggish demand for electric vehicles has led South Korean battery maker LG Chem to delay the start of production at its new plant in western Michigan.
The original Lotus Elan was one of the first commercial successes for the British company. It was produced from 1962 to 1975 and embodied Colin Chapman's and#8220;add lightnessand#8221; credo, with a curb weight of just 1,500 pounds.
Also in this episode: Historic military vehicles are set to roll across the auction block in Auburn, Ind., and Mario Andretti
Daimler AG warned it would miss its full-year profit forecast by about 1 billion euros and delayed its 2013 return targets amid "significantly more difficult market conditions," it said in a statement that appeared to be accidentally released.
Daimler AG warned it would miss its full-year profit forecast by about 1 billion euros and delayed its 2013 return targets amid "significantly more difficult market conditions," it said in a statement that appeared to be accidentally released.
Hot rods and customs come in an infinite range of shapes, styles and sizes.
Can a Kia be a premium product? In the UK, some of its models are certainly now priced that way. After spending some time with the Inferno edition of the Soul, I see no reason why Mini and DS3 buyers shouldn't be tempted by it.
News
24 Oct, 2012
Audi will expand the new A3 line-up in 2014, with the addition of hot RS3 and plug-in e-tron models
There are plenty of high-performance driving schools featuring sporty favorites such as the Mazda Miata,
News
24 Oct, 2012
We drive a selection of VWs in Brazil, including the Kombi van, which retires in 2013 after 60 years
The next-generation Chevrolet Corvette will be powered by a new 6.2-liter small-block V-8 that will produce more horsepower and torque than the current engine and deliver better fuel economy, General Motors said today.
A Jeep Wrangler JK with a third row of seating was recently spied at a suburban Detroit gas station. Wearing manufacturer plates, at first glance it looked like a prototype being tested by the Auburn Hills manufacturer.
The 2014 Chevy Corvette will be powered by an all-new 6.
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