CES: New cars and communists

The first day of the 2012 Consumer Electronics Show featured one new Ford, two new Kias and a plug for communism from the head of Mercedes-Benz. So, yeah, it was an eventful first day. After its new 2013 Fusion plug-in hybrid was named Car of the Show--following previous such distinctions for the Focus electric and the Taurus--Ford CEO Alan Mulally pulled the cover off the Fusion Energi plug-in hybrid in Las Vegas on Tuesday.

Used car market pressure eases

AN INCREASE in the number of used cars coming into the market has “taken the edge off prices” and calmed some corners of the industry, according to used car pricing experts CAP. A greater influx of part-exchange cars arriving at dealers is partly responsible, and with many franchised dealers focusing for the time being on selling those vehicles, competition to acquire stock on the open market has decreased. CAP reports that the pressure has been lifted on some dealers who had become frustrated at how expensive it was becoming to source cars at fair prices.

Fisker about to be bought by Volvo’s Chinese owner Geely?

It’s reported that China’s Geely – which bought Volvo from Ford – is about to take a majority stake in Fisker Automotive. But Fisker has run in to big problems when its battery supplier - A123 Systems – went bust leading to Fisker production grinding to a halt. That has now been resolved with China’s Wanxiang Group buying up A123 Systems and it looks like Fisker is heading East too with Geely set to grab a majority shareholding.