GM returning to leasing with luxury vehicles

General Motors will return to the leasing business focusing on luxury vehicles, but not on a broader basis, Vice Chairman Bob Lutz said. "We will get back into leasing, but we are not going to use massive subsidized leasing to drive volume because it's volume without profitability," Lutz said July 29 in an interview with Automotive News. "We'd rather sell less at higher profit than sell more at lower profit." Lutz said it still would make sense for GM to do more leasing on its luxury vehicles.

Nissan LEAF £2500 UK price drop

Nissan has revealed that the LEAF EV will be reduced in price by £2500 with immediate effect and ahead of the launch of the uprated 2013 LEAF. The world hasn’t exactly fallen in love with electric cars, which has as much to do with the fact that an electric car, with its limited range, is never going to be a replacement for a normal ICE car. But compounding the impracticality of the EV as a replacement for the ICE car is the very high prices car makers are charging for electric cars, the sort of prices that mean buyers will probably find the ‘Cheap to Fuel’ EV a more costly option than fuelling a much cheaper comparable iICE car with petrol or diesel.

IRANIAN PRESIDENT AUCTIONS PEUGEOT

IRANIAN President Mahmoud Ahmadinajad is auctioning his 1977 Peugeot 504 to raise money for charity. The often controversial leader is inviting bids through Iran’s Central Bank, with the money raised intended to be used to build homes for the poor and disabled of Iran. Interested parties can register through a website in order to place offers.