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From GMM

Plans for a New York street race were foiled by financial backers that pulled out, Bernie Ecclestone has revealed.

A second American grand prix, in New Jersey but amid the iconic Manhattan skyline, has appeared on draft calendars for some time but the F1 supremo now admits it is unlikely to happen.

"I honestly don't think so," Ecclestone said in Belgium last weekend. "They still have the same problems they had in the beginning. Nothing has changed."

Now, speaking to the F1 business journalist Christian Sylt, the nature of those 'problems' has become clear -- and it's all about money.

"Two or three backers that (promoter) Leo (Hindery) had had confirmed to me that they had an agreement with him and they were going to put the money up," Bernie Ecclestone told Forbes.

"If Leo had got the money or I had put the money up that race would have been on."

Bernie Ecclestone admitted that he went beyond his usual efforts for New Jersey, as the teams "were dying to have a race in New York so we were trying to make it happen".

Christian Sylt said Ecclestone gave Hindery lots of chances by continually reinstating the race on draft calendars, and he even offered funding.

"I had nothing to lose with Leo," Bernie Ecclestone insisted. "If somebody had come along and put the money up and he had done the job I would have been delighted. He (Hindery) was trying to keep things alive hoping that somebody was going to put money in. It suited us to give him chances. Everybody wanted a race in New York."

Ford won dismissal of a lawsuit claiming the company aided South Africa's apartheid regime, with a judge saying it couldn't be sued in the U.S. over actions of their units overseas.

Toyota is using a location-based mobile ad tool to supercharge its annual clearance sale.

Bluetooth technology aims to leave drivers hands-free, but some drivers end up connection-free, according to a study of multimedia quality and satisfaction released today.

As antitrust regulators, most recently in China, go after auto suppliers in what has become a worldwide probe into price fixing, parts makers can no longer collude to keep prices relatively high for new components they supply to car manufacturers.

As antitrust regulators, most recently in China, go after auto suppliers in what has become a worldwide probe into price fixing, a longtime "business model" in the supply chain is now in danger, says an automotive purchasing executive.

Transform Automotive is expanding in Michigan after landing a new contract to build transmissions parts.

Automotive steering systems specialist Nexteer has announced strong financial results for the first half of 2014.

Responding to a question from just-auto.com, a spokesman for Peugeot has named Wuhan 2 as the location for build of the new 408, a sedan version of the 308.

News 29 Aug, 2014

The new Kia Sorento go on sale in 2015 and Kia has released official details on the new SUV ahead of Paris Motor Show

News 28 Aug, 2014

Jaguar's design chief has put his personal stamp on his own classic Jaguar MkII and it looks fantastic

In the full year 2014, Argentina, Brazil, India, Russia, Thailand & Turkey are set to become an even greater drag on global light vehicle markets than in FY13, declining by at 9.1% or 1.1m to 11.13m units. In the previous five years and during the global financial crisis they were key drivers. Sabine Blümel considers the implications for the industry. This second instalment looks at South America.

News 28 Aug, 2014

Mercedes confirms AMG GT will debut September 9th, as a new teaser video reveals in-depth test secrets

While General Motors, in a move hailed by the United Auto Workers, last night (27 August) announced production of the Cadillac SRX would be shifted from Mexico to Tennessee, the Reuters news agency reported subsequently it had learned the automaker also plans to move some other assembly work from the US to Mexico.

News 28 Aug, 2014

The all-new BMW 7 Series has been spied testing in heavy camouflage

Pictures See all 5 pictures 28 Aug, 2014

Pictures See all 37 pictures 3 Sep, 2014

Production of the 2015 Ford Mustang for global markets has begun at Ford's Flat Rock Assembly plant.

Kia is to build a new US$1bn factory in Mexico to build a range of "yet to be confirmed compact models" for North and South American markets.

General Motors and the UAW on Wednesday trumpeted the news that production of the Cadillac SRX would be shifted from Mexico to Tennessee, but Reuters has learned that GM also plans to move some other assembly work in the opposite direction.