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New details on Mercedes' Porsche 911 fighter

Mercedes-Benz's AMG performance-car division is forging ahead with development of its new twin-turbocharged 4.0-liter V8 powered sports car, nine months before it is scheduled to be revealed at the 2014 German Grand Prix. Known to insiders by its code name, “C190” the two-seat coupe has been conceived to follow in the wheel tracks of the four-year-old SLS at the head of the German carmaker's lineup, aiming to challenge the heady performance and everyday driving appeal of the latest Porsche 911 Turbo at a price that insiders suggest will be in the region of $160,000 when North American sales begin in early 2015. Originally, AMG's new front-engined sports car was tipped to revive the iconic SLC name first used by the SL coupe back in 1971.

Avis buys Zipcar and grows car-sharing capabilities internationally

Zipcar, a car-sharing company that specializes in renting cars by the hour or day, announced Wednesday it will be acquired by Avis Budget for $491 million, or $12.25 a share. The action will help Avis compete against Hertz Global Holdings, which became the world's second largest car-rental company in 2012 following its purchase of Dollar Thrifty car-rental company for $2.6 billion, according to a Bloomberg report. “By combining with Zipcar, we will significantly increase our growth potential -- both in the U.S.

Chrysler sets the pace as industry sales climb 8 percent

U.S. light vehicle sales--led by Chrysler--rose 8 percent in October to an estimated 1.02 million units, matching forecasts and enough to keep the industry's rebound on track despite ongoing economic uncertainties. It was the eighth consecutive month in which U.S.