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From GMM

Christian Horner insists Red Bull is not giving up on the 2014 title.

Many, however, believe Mercedes' advantage to be so great early this season that even powerful rivals like reigning world champions Red Bull and Ferrari will not be able to bridge the gap.

But team boss Horner told Italy's La Gazzetta dello Sport: "There are still 15 races left -- it's a marathon not a sprint. Hopefully in Spain we will begin to significantly reduce our disadvantage to Mercedes."

He refers to 2012, when Red Bull was also able to recover after a significant rule change.

But the rule change for 2014 has been ever greater, and Mercedes' advantage is obvious.

"Renault is working hard to close the gap," said Horner.

Jean-Michel Jalinier (Renault), Christian Horner and Helmut Marko (Red Bull). (Photo: WRi2)

Indeed, Red Bull has made no secret that it believes the only problem with the RB10 is the French-made turbo V6.

"Our car is better than Mercedes, we're just lacking 50 horse power," Roger Benoit, the veteran correspondent for Swiss newspaper Blick, quoted a team insider as saying on Thursday.

Horner confirmed: "I know that our car is fantastic. When we close the disadvantage of the engine we will be back in top form. I think that out of the engine suppliers Mercedes has done the best job, followed probably by Ferrari and Renault. But we will see how it is in the end."

Christian Horner was asked if Red Bull could return to the top if it simply changed engine supplier.

"The pressure is obviously on Renault to deliver a competitive product," he answered, "but they have the right people to do that."

The proposed $35 billion merger between Omnicom Group and rival Publicis Groupe has been called off as the challenges in forming the world's largest advertising agency proved too immense for the partners.

The headquarters of the newly merged Fiat Chrysler Automobiles will be moved to London, CEO Sergio Marchionne clarified on Thursday, cementing a politically sensitive shift away from Italy, Fiat's home for the past 115 years.

GM's ignition switch controversy inevitably will lead to greater regulatory scrutiny of auto safety defects, top executives from Honda and Hyundai say.

Tesla Motors says its fight to sell electric cars directly to consumers faces a new hurdle as Missouri's legislature is weighing a measure to bar its company-owned store system.

Tesla Motors tumbled the most in more than five months after the electric-car maker reported a first-quarter loss and vehicle deliveries that trailed the highest analyst estimate amid constraints of battery supplies.

Toyota's decision to move its North American headquarters to Texas is causing political fallout in California.

The owners of DealerSocket, a leading provider of customer-retention software to dealerships, are in investment talks with Vista Equity Partners, a private equity firm with a minority stake in Reynolds and Reynolds.

General Motors, which is fighting about 60 customer lawsuits over demands for money for faulty cars, asked a federal court in Texas not to allow a group of customers to gather information from the company on its handling of ignition switch defects,...

General Motors is recalling 8,208 2014 Chevrolet Malibu and Buick LaCrosse sedans for a problem with the front brake assembly, the company's fifth recall in the last two weeks.

Ford Motor Co. is teaming up with the

BorgWarner has begun producing its electronically controlled Visctronic fan drives at its new plant in Itatiba City, Brazil.

Ford CEO Alan Mulally, presiding over his final annual meeting, said today he has 'no regrets' about his eight years leading the automaker's turnaround and gave a vote of confidence to his successor.

Mercedes-Benz has released European pricing for the G63 AMG 6x6 for its second year of production.

Magna International has posted Q1 net income up 6.5% to US$393m and sales of US$8.96bn, an increase of 7%, partly attributable to vehicle production increasing by 4% in North America and Europe.

Visteon Corporation booked first quarter 2014 net income down US$50m to $19m ($0.38 a share) on sales of $1.98bn with adjusted EBITDA up to $170m, compared with $141m in the same period last year.

News 12 May, 2014

The Ford Focus RS is back, but the battle for mega-hatch honours is hotter than ever.

Millennials are our future, God help us all, and automakers are still trying to figure out to get this supposedly car-averse demographic to part with its money.

News 8 May, 2014

Skoda is now offering the Octavia hatchback and estate with a new Laurin & Klement trim, priced from £26,410

Iran Khodro (IKCO) says the recent visit by Peugeot CEO, Maxime Picat, sends a strong signal to other potential investors Tehran is open for business again