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Chinese price MG TF above MX-5

By Tim Pollard First Official Pictures 03 July 2008 06:54 New Chinese owner NAC has announced a price bombshell for its revised MG TF: it's going to cost more than a Mazda MX-5. The new company, called NAC MG UK Ltd, today revealed that the MG TF LE500 would cost £16,399 when it goes on sale in September 2008. The cheapest MX-5 1.8, meanwhile, costs £15,750.

Plans for Smart’s three-seat sports car uncovered in patent drawings

Mercedes-Benz is developing a three-seat sports car for Smart. Depicted here in a series of European patent-application sketches obtained by AutoWeek, the radical new sports car forms part of an extended range of new Smart models planned for introduction by the middle of the next decade, including a more conventional four-seater to be produced in cooperation with Renault. Mercedes-Benz is reacting to increased competition from Toyota in the form of the iQ and the impending arrival of similar urban-based offerings from premium-brand rivals Audi and BMW.

Ford reports record $1.7 billion profit

Ford Motor Co. reported record third-quarter profits on Tuesday, raised its production forecast and said it will speed up steps to cut its debt. Ford's $1.7 billion in net income was up from $997 million a year earlier.