Auto News 5

From GMM

Formula one teams may not just be competing for trophies and sponsors, according to a report by Germany's Auto Motor und Sport.

Speculation that F1's largest shareholder, CVC, might be looking to sell its commercial rights holding are ever-present in the paddock.

The latest rumours are that four separate groups are currently interested, after "a fifth in the Middle East has dropped out", correspondent Michael Schmidt reports.

"One of the interested parties," he wrote, "is a consortium led by Red Bull. This is in competition with Canadian businessman Lawrence Stroll, of Tommy Hilfiger, who apparently has Ferrari on board."

Last month, Ecclestone played down that latest talk, telling F1 business journalist Christian Sylt: "Everybody talks.

"A deal has definitely not been done," he insisted to Forbes.

But the rumours have not stopped.

US cable billionaire John Malone has also been linked with F1, and according to Schmidt he is "perhaps the most likely candidate" due to the "marketing opportunities".

"Number four in the game," said Schmidt, "is a group that apparently includes Lotus owner Gerard Lopez."

From GMM

Renault was not solely to blame for Sebastian Vettel's problems in Austria last time out.

The reigning world champion suffered a momentary loss of drive in the opening stages of the race at the Red Bull Ring, later retiring to save "mileage"

Team boss Christian Horner said it was an "engine electrical issue, which we are yet to understand what caused it".

But when speaking with reporters immediately after the race, he made clear where his finger was pointing, saying engine supplier Renault's service in 2014 has been "unacceptable".

According to Germany's Auto Motor und Sport, however, Horner was wrong to blame Renault for Vettel's problem in Austria.

Sebastian Vettel's retirement in Austria. (Photo: WRi2)

Renault engine boss Rob White confirmed that when the German pressed the "overtake button", the "standard electronics" failed to properly interpret the message.

The 'standard electronics' in all F1 cars is supplied by McLaren subsidiary MES.

The Italian correspondent for Autosprint, Alberto Antonini, explained: "When Sebastian pressed the 'OT' button for more power, the system entered a kind of self-protection (mode)."

He said the Ferraris had an "eerily similar" problem in the opening stages of the Australian grand prix.

The Alliance of Automobile Manufacturers today asked a federal court to dismiss its six-year-old lawsuit over Florida legislation on warranty reimbursement.

Twin Cities Automotive, a dealership group owned by Pohlad Companies, has changed its name to Carousel Motor Group.

Ford sold the most vehicles in Canada in June, trumping Fiat Chrysler, which has sold the most cars and trucks in the country so far this year.

An even more powerful version of the Bentley Mulsanne is in the works,

Andrew Stuart, the CEO of captive finance arm Volkswagen Credit, is leaving to become TD Bank's auto-lending chief, the bank said.

Henry Nolte, the chief in-house legal counsel to three Ford CEOs from 1974 to 1989, died Monday in suburban Detroit. He was 90.

Chrysler Group has been placed back in the recall hotseat with federal safety regulators for allegedly dragging its feet in efforts to improve the rear crashworthiness of older-model Jeep Grand Cherokees and Libertys.

The next generation of Mini's range-topping John Cooper Works models will adopt a new 2.

The 2015 Cadillac CTS made a surprise short appearance ahead of its scheduled debut in an OnStar commercial this week.

General Motors customers who sued the automaker over fallen car prices might have a stronger case if they could prove the company defrauded the court when testifying during its 2009 bankruptcy, a judge said.

MG is getting back to its sporty roots, and it has just recently revealed the MG3 Trophy Championship Concept.

Evonik Industries says it is making an investment in the "double-digit-million euro range" in a new research centre at the Rheinfelden site in Germany.

For two decades, NVIDIA says it has pioneered visual computing, the art and science of computer graphics. Its technologies are finding applications in video games, movie production, product design, medical diagnosis and scientific research. Automotive can now be added to the list. Ian Adcock spoke to the company's marketing director, Danny Shapiro, to find out more.

New Ford president and CEO Mark Fields, who took up the role today (1 July, 2014) will earn an annual base salary of $1.75m, the automaker said in a regulatory filing.

News 2 Jul, 2014

Caterham Group parts company with its F1 Team, which has been bought for an undisclosed amount by a Swiss and Middle-Eastern consortium

German supplier Robert Bosch is preparing to invest 400 million euros ($546 million) to build car parts in Mexico for a growing North American market, a German newspaper reported.

Ford said its new CEO, Mark Fields, will receive a 9 percent increase in his base salary, as well as stock options and a performance-based bonus. Ford said in documents filed today with U.S. regulators that Fields' base salary will be $1.

Renault and Nissan increased savings from their alliance by 7 percent last year as the first cars built on the jointly developed common module family (CMF) platform rolled off production lines.