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Lamborghini reports drop in profits

Lamborghini has announced a pre-tax loss of £32m for 2009 as the world recession led to a slump in supercar sales. Lambo delivered 1515 supercars last year, down 38% from 2008's 2430.  Turnover dropped 41% to £215m. It's a far cry from the dizzy heights of the boom years.

Winners of Kia 'My Style, My Design' Chinese design contest announced

The winners of Kia's ‘My Style, My Design' design competition have been announced at a ceremony at Beijing's Yue Art Museum. This second annual event saw the number of universities involved rise from 40 to 86 with over 500 projects submitted which the organizing committee whittled down to just 30 finalists. Shangdong Transportation College student Du Wenchang's 'Honglin' project was presented with the award for first place by Seon-Ho Youn, vice president of Kia Design Center.

New (2013) Lexus IS: Official Photos revealed

Lexus has revealed the first official photos of the new Lexus IS which will debut at the Detroit Auto Show next week. What we see is a much more dynamic looking IS, borrowing visibly from the LF-CC Concept we saw at Frankfurt last year, and promising to be the best effort yet by Lexus to put a dent in the BMW 3 Series. Prominent is the new Lexus spindle grill with a set of mean looking headlights with arrow shape LED running lights, with the cabin looking further back than the current IS, a coupe-like profile and a swoopy crease running back from the sills to the tail.