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Karmann files for insolvency
Wed, 08 Apr 2009Karmann, the century-old German coachbuilder synonymous with cabrios and the famous 1950s Karmann Ghia, has filed for insolvency. The company made the move Wednesday in Germany in response to a dramatic decline in revenue, an inability to pay for its massive layoff plan and the worldwide economic crisis. The North American operations, which make convertible tops for Detroit car companies and Volkswagen, are not affected, a spokesman said.
Yearly driving costs rise 3.4 percent
Tue, 05 Apr 2011This won't be a surprise to anyone--it's costing more to own and drive a car. Higher prices for fuel and tires, and a larger drop in the resale value of cars, pushed the average cost of owning a sedan to $8,776 a year, according to AAA of Heathrow, Fla. That's up 3.4 percent from a year ago.
Paul Walker crash: 93-mph speed to blame
Wed, 26 Mar 2014The investigation into the Porsche Carrera GT crash that led to the deaths of actor Paul Walker and Roger Rodas has been completed. Unsafe driving, rather than a fault with the car or the road surface, has been named as the cause. Walker and Rodas were killed when their Porsche Carrera GT skidded off the road in a Los Angeles-area business park on Nov.