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From GMM

Ferrari has hit back at reports in a famous British magazine that its budget is the highest in formula one.

Autosport said Ferrari's annual budget is EUR 250 million; 15 more than world champions Red Bull, and a whopping 90 million higher than any other team.

The fabled Italian team's anonymous website columnist The Horse Whisperer, however, hit back by insisting the figures are "fantasy", which have drawn "even distinguished newspapers into conclusions that are wildly erroneous".

"It would be easy to deny the figures with facts," Ferrari added, "but the truth about business matters has to stay confidential."

Photo: Ferrari

Just three months after Ford started production of the Fusion mid-sized sedan at a second North American plant to keep up with demand, it already has more supplies of the car than it needs.

Fisker may be sold by Jan. 3 under an accelerated schedule approved by the judge overseeing its bankruptcy case. U.S.

Ford Motor Co. today said it is issuing two additional recalls of its

Japan's Toyo Tire and Rubber has agreed to plead guilty to federal price-fixing charges and pay a $120 million criminal fine for its role in conspiracies involving auto parts, the Justice Department said today.

Tuning house Vilner is known for its interior coachbuilding work, but its latest effort is something else entirely. Dubbed the Bullshark, this

Sasan Ghorbani says the Iranian auto industry conference he's organizing in Tehran next weekend is suddenly a hotter ticket than he'd expected.

American Honda said today that it will offer Apple's Siri Eyes Free in select vehicles, including the 2013-14 Honda Accord and 2013 Acura RDX and ILX.

News 26 Nov, 2013

The final Lamborghini Gallardo has rolled off the production line - we look at all 35 Gallardo models and special editions

Daimler Financial Services is financing more than 3m vehicles for the first time in its history.

Pictures See all 27 pictures 26 Nov, 2013

Ford today said it is issuing two additional recalls of its 2013 Escape crossover after receiving reports of fires in 13 more vehicles.

News 26 Nov, 2013

Mazda MX-5 BBR has 268bhp and costs from £29,995

You asked for it. After

New vehicle sales in the United States are expected to rise 3.6% year on year in November to nearly 1.19m units, according to Kelley Blue Book (KBB).

The Jaguar C-X75 debuted at the Paris Motor Show in 2010, celebrating 75 years of the company name.

One analyst says any potential sale of PSA Peugeot Citroen's supplier interest could make sense as component manufacturing is not core to the automaker's activity.

When the Chevy Camaro Z/28 was unveiled last spring at the

ASSOCIATE EDITOR GRAHAM KOZAK: The 2013 Fiat 500 Abarth Cabrio has to have one of the highest bark:bite ratios of anything on the market.

General Motors will be a tempting target for activist investors if it doesn't quickly return cash to shareholders from what the automaker calls its "fortress balance sheet."