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Insurance interest costs motorists millions

BRITISH drivers are paying £682 million more than they should be for their car insurance by paying monthly. Most insurers charge a high rate of interest for the privilege of spreading payments out over the year, with the average pay-monthly customer hit by an additional £88. Almost a third of people (31%) pay their car insurance by monthly direct debit, market research from Consumer Intelligence has discovered.

Ford and GM tie-in with Apple

Having established a relationship with Nike for recycling materials as demonstrated on the Ford Reflex concept, Ford has now joined GM in collaborating with Apple to ensure their cars are iPod compatible. Rather than the retrofitted wire many drivers have had to resort to, cars will offer a bespoke area in the glove compartment that also acts as a charging point, the iPod instead controlled through the car?s GUI. By the end of the year, 70% of all new models sold in America are expected to be iPod compatible, an arrangement that furthers Apple?s continuing domination of the MP3-player market and one that will introduce Apple to the car-computer market, anticipated to be worth $6billion by 2010.

GM technology chief Tom Stephens to retire

Tom Stephens, GM's vice chairman, chief technology officer and former head of global product operations, will retire on April 1 after a 43-year career with the automaker. His successor will be named later, GM said Sunday. Stephens, 63, has served as GM's chief technology officer--a new position--since Feb.