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BMW said it is fully prepared to meet the Unite union in the UK to further discuss plans to change its pension arrangements for new employees.

Renault has posted an operating margin of EUR583m (US$628m) million in the first half of 2013, although recorded a provision of EUR512m to cover its exposure in Iran.

Videos 26 Jul, 2013

The team at EVO get behind the wheel of the Renault Clio 182 Trophy

ZF Friedrichshafen has opened a new plant for automatic passenger car transmissions in the US.

Rolls-Royce expects sales growth in China to be flat this year as the economy cools and reports suggest the government may introduce a luxury tax.

Renault increased first-half profitability as reductions in labor costs offset slumping sales in Europe but the automaker's bottom line was weakened by lost business in Iran and the bankruptcy of Better Place.

Toyota looked set to retain its title as the world's top-selling carmaker in the first half, outpacing GM and VW as it boosted overseas sales to a record high.

DETROIT #8211; Former General Motors product chief Bob Lutz yesterday contrasted his attempts to create an 'excellence pays' culture at two of his employers.

Peugeot is pricing its new 308 compact below the European compact segment leader, the VW Golf. PSA/Peugeot-Citroen is counting on models such as the 308 to boost falling vehicle sales.

With unemployment in France rising and consumer confidence at a record low, auto sales in the country have tumbled more than any other major European market this year.

Volkswagen Group of America has cut its 2013 U.S. sales target for VW division, a sign that executives don't expect the brand to break out of its U.S. slump by year end.

Infiniti will delay its first electric vehicle until 2016 as it continues to work on a wireless charging system that will be a critical part of the battery-powered luxury car.

Hyundai's second-quarter net profit stayed near a record high achieved a year earlier as strong China growth overcame rising competition and tight supply that eroded sales at home and in the U.S.

Audi forecast sales in China will increase by about 11 percent this year, driven by rising incomes and the automaker's expansion into smaller cities.

Porsche expects the Panamera plug-in S E-Hybrid to account for about 10,000 sales, which would be double that of the car's first-generation full hybrid.

During a meeting held at the Hungaroring, Formula 1 team bosses voted against a rule change that would have set a minimum time for the tire changes during Grands Prix.

The directors met Thursday with FIA safety delegate, Charlie Whiting to talk about safety in the pit lane after a cameraman was hit by a wheel that came off Mark Webber's Red Bull.

TV broadcaster Sky commentators said on Friday that the idea of a minimum time for the pit stops was turned down because they are a big part of the spectacle and it would cause the teams to adopt the identical race strategies.

It emerged that drivers now face ten-position grid penalties for the following race if they are released from a pit stop without four properly attached wheels.

Photo: Red Bull Racing

From GMM

Ross Brawn has admitted Paddy Lowe is shaping up to replace him at the helm of Mercedes AMG.

"Yes, there's been a lot of speculation," Brawn told the German newspaper Die Welt.

He insisted, however, that no one should be surprised Mercedes made a move for Lowe, given his solid work for McLaren over the past two decades.

"However," Brawn admitted, "the plan was designed more for the future.

"The idea was that my role in the team would change with time and Paddy would then take on more responsibility.

"But now he's here early and we need to rethink our original plans.

"At the moment Paddy helps wherever he can," he said.

Paddy Lowe himself has been notably quiet on the subject, although it is known he definitely expects to lead the Brackley based team eventually.

Ross Brawn, Mercedes AMG team boss. (Photo: WRi2)

Ross Brawn said: "I am responsible, Paddy works for me, but at some point in the future it will change.

"I don't know when. I'm already looking forward to the new season, 2014 will be a very exciting year with completely new technology.

"Mercedes will be in good shape obviously and it will be great fun."

Pressed to reveal the timeline, Ross Brawn insisted: "I will work with Paddy for the next six months, maybe longer. When the transition occurs, it will be a soft handover."

But Ross Brawn might not step back completely.

"I don't know what role I'll have in the long term. There are various options," he said.

"I like the team, and the people."

MINI recently used a virtual 3D hologram to present the new MINI Vision concept, which hints at the styling direction of future models.

Boasting a compact sporting presence, the MINI Vision combines design cues from the classic Mini with more contemporary touches. For example, it integrates both the bumper and auxiliary lights into the famous hexagonal grille.

The Glamorous Gold paint finish is a MINI first. Other exterior highlights include elliptical full-LED headlights, as well as a clear separation of the roof, greenhouse and body.

Providing maximum comfort within minimal exterior dimensions, the cockpit has a “floating” centre console and driver-selectable mood lighting. A “MINI Disco” floor can come to life, giving the MINI Vision the atmosphere of a nightclub. Lounge seats featuring dynamic piping add the finishing touch.

The next-generation MINI is scheduled to make its world debut in Frankfurt this fall.

Photo: MINI

Twin-turbo systems will become mandatory next year as part of an ongoing move to ensure parity between engine manufacturers Honda and Chevrolet in IndyCar.

The decision was confirmed on Thursday following an IndyCar Engine Committee meeting.

The change will most affect Honda, which currently races its 2.2 litre V6 in a single-turbo configuration.

Chevrolet returned to the series with a twin-turbo engine developed in partnership with Ilmor.

Photo: IndyCar

Three-time world champion, Sebastian Vettel led teammate Mark Webber in a Red Bull one-two in both Friday's free practice sessions for the Grand Prix of Hungary near Budapest.

It was already very hot this morning when Vettel turned his best lap (1m22.723), 0.259s quicker than Webber's, with Kimi Raikkonen third fastest for Lotus and Fernando Alonso fourth for Ferrari.

Sebastian Vettel. (Photo: WRi2)

The track remained slippery and very dirty all through the 90-minute session which saw ambient and track temperatures of 30 and 45 degrees Celsius, respectively.

It was the first time the teams got to run Pirelli's revised tires (2012 construction and 2013 compound) in competitive conditions and there were no dramas to report, as everyone ran exclusively with the medium compound.

Romain Grosjean was fifth in the other Lotus ahead of Jenson Button in a McLaren and Adrian Sutil in a Sahara Force India.

Photo: Mercedes AMG F1 Team

Mercedes AMG's drivers, Nico Rosberg and Lewis Hamilton, who did not taste the new Pirelli tires at Silverstone, were down in 8th and 13th spots, respectively.

It was still very hot in the afternoon for the second practice session.

As teams ran Pirelli's soft tires before focusing on long runs on the harder mediums, Vettel carried on where he left off this morning with the fastest time of 1m 21.264, but Webber was right with him this time, just 0.044s adrift.

Grosjean of Lotus was third, only 0.153s off Vettel.

Fernando Alonso. (Photo: Ferrari)

Then came the Ferraris of Fernando Alonso and Felipe Massa, and the Mercedes of Hamilton and Rosberg.

Raikkonen, Button and Sutil completed the top 10.

At the back end of the grid, the Renault-powered Caterhams again outpaced the Marussia-Cosworths.

Adrian Sutil. (Photo: Sahara Force India)

Hungarian Grand Prix
Friday July 26, 2013

Free Practice session 1 - Results*
1 - Sebastian Vettel (Red Bull RB9-Renault) - 1'22"723 - 19 laps
2 - Mark Webber (Red Bull RB9-Renault) - 1'22"982 - 24
3 - Kimi Raikkonen (Lotus E21-Renault) - 1'23"010 - 20
4 - Fernando Alonso (Ferrari F138) - 1'23”099 - 22
5 - Romain Grosjean (Lotus E21-Renault) - 1'23"111 - 20
6 - Jenson Button (McLaren MP4/28-Mercedes) - 1'23"370 - 26
7 - Adrian Sutil (Sahara Force India VJM06-Mercedes) - 1'23"390 - 20
8 - Nico Rosberg (Mercedes W04) - 1'23"531 - 28
9 - Sergio Perez (McLaren MP4/28-Mercedes) - 1'23"591 - 26
10 - Pastor Maldonado (Williams FW35-Renault) - 1'23"911 - 21
11 - Esteban Gutierrez (Sauber C32-Ferrari) - 1'24"119 - 21
12 - Valtteri Bottas (Williams FW35-Renault) - 1'24"150 - 27
13 - Lewis Hamilton (Mercedes W04) - 1'24"157 - 28
14 - Jean-Eric Vergne (Toro Rosso STR8-Ferrari) - 1'24"204 - 15
15 - Felipe Massa (Ferrari F138) - 1'24"299 - 19
16 - Nico Hulkenberg (Sauber C32-Ferrari) - 1'24"314 - 23
17 - Daniel Ricciardo (Toro Rosso STR8-Ferrari) - 1'24"383 - 24
18 - Paul Di Resta (Sahara Force India VJM06-Mercedes) - 1'24"608 - 21
19 - Charles Pic (Caterham CT03-Renault) - 1'25"827 - 24
20 - Giedo Van der Garde (Caterham CT03-Renault) - 1'26"808 - 25
21 - Jules Bianchi (Marussia MR02-Cosworth) - 1'27"617 - 20
22 - Rodolfo Gonzalez (Marussia MR02-Cosworth) - 1'37"459 - 25

Free Practice session 2 - Results*
1 - Sebastian Vettel (Red Bull RB9-Renault) - 1'21"264 - 34 laps
2 - Mark Webber (Red Bull RB9-Renault) - 1'21"308 - 42
3 - Romain Grosjean (Lotus E21-Renault) - 1'21"417 - 40
4 - Fernando Alonso (Ferrari F138) - 1'21”426 - 34
5 - Felipe Massa (Ferrari F138) - 1'21"544 - 37
6 - Lewis Hamilton (Mercedes W04) - 1'21"802 - 42
7 - Nico Rosberg (Mercedes W04) - 1'21"991 - 40
8 - Kimi Raikkonen (Lotus E21-Renault) - 1'22"011 - 32
9 - Jenson Button (McLaren MP4/28-Mercedes) - 1'22"180 - 41
10 - Adrian Sutil (Sahara Force India VJM06-Mercedes) - 1'22"304 - 41
11 - Paul Di Resta (Sahara Force India VJM06-Mercedes) - 1'22"526 - 39
12 - Sergio Perez (McLaren MP4/28-Mercedes) - 1'22"529 - 37
13 - Pastor Maldonado (Williams FW35-Renault) - 1'22"781 - 36
14 - Esteban Gutierrez (Sauber C32-Ferrari) - 1'22"837 - 42
15 - Nico Hulkenberg (Sauber C32-Ferrari) - 1'22"841 - 39
16 - Jean-Eric Vergne (Toro Rosso STR8-Ferrari) - 1'23"369 - 34
17 - Daniel Ricciardo (Toro Rosso STR8-Ferrari) - 1'23"411 - 41
18 - Valtteri Bottas (Williams FW35-Renault) - 1'23"646 - 34
19 - Charles Pic (Caterham CT03-Renault) - 1'24"325 - 38
20 - Giedo Van der Garde (Caterham CT03-Renault) - 1'25"065 - 36
21 - Jules Bianchi (Marussia MR02-Cosworth) - 1'25"143 - 39
22 - Max Chilton (Marussia MR02-Cosworth) - 1'26"647 - 33

* Unofficial timings