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Charles Morgan to build rival cars

Sacked Morgan boss Charles Morgan is to set up new sports car company that he says will rival the 104-year-old British car manufacturer that bears his family name and recently dismissed him. In a report in the Telegraph, Charles is quoted as saying his new company will “build on the innovation and heritage of my grandfather”. On Bing: see pictures of Morgan cars Find out how much a used Morgan costs on Auto Trader The news comes less than a month after Morgan lost his appeal against his dismissal from the Malvern carmaker his family set up in 1909.

Ford posts record first-quarter profits

Ford Motor Co. said first-quarter net income increased 15 percent from a year earlier to $1.61 billion, as rising U.S. auto sales pushed North American profits to a record, offsetting deeper losses in Europe.

Aston Martin still aiming for a Lagonda SUV

Aston Martin still aiming for a Lagonda SUV (pictured) Aston Martin has never had the easiest of financial journeys, and that’s no different today than it ever was in the David Brown days. Only last week we reported that Aston Martin made a thumping big loss in 2012, despite its cars having iconic status and generally considered to be the most beautiful cars made. But there is light at the end of the very long tunnel of AML’s financial woes, and that revolves round the recent investment by Investindustrial in Aston Martin and its subsequent tie-in with AMG.