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Used car sales return to pre-recession levels

As the UK’s buoyant new car sales figures continue to buck the European trend, it was only a matter of time before this had a positive knock-on effect on sales of used cars. Now, according to figures released in the latest BCA Used Car Market Report, used car sales hit 7.1 million last year, outpacing new car sales by 6.4% and, even more crucially, returning to pre-recession levels. Best used car buys for 2013 On Bing: see pictures of used cars In fact, a record £38.1 billion worth of used cars were sold in 2012, £5.8 billion more than was spent on new cars.

Ford lines up Mark Fields to succeed Alan Mulally

Ford Motor Co. has named Mark Fields its chief operating officer, putting him in line to succeed CEO Alan Mulally when he retires no sooner than the end of 2014. The appointment of Fields, 51, who has been president of Ford's Americas unit, was part of a sweeping overhaul of executive ranks unveiled Thursday.

Seven reasons why GM wants to keep Opel

General Motors Co. is considering reversing course and hanging on to Opel, and it is easy to figure out why. Keeping a foothold in Europe is vital for GM, and the company may be able to afford it.