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News watch March 2010: today's auto industry news

Tuesday 30 March 2010• Mercedes has dismissed claims that its Maybach brand is for sale, after reports in the Chinese media claimed Chinese car company BYD was considering a bid for the upmarket offshoot. BYD has also denied the claims (Reuters)• Toyota president Akio Toyoda has promised his company will listen more carefully to customers and react faster in a bid to regain credibility after the Japanese car manufacturer was forced to recall millions of vehilces over safety fears (BBC)• The Obama administration is expected to unveil its finalised fuel economy and tailpipe emissions through to 2016 this week, to coincide with the opening of the 2010 New York auto show (Detroit News)  Monday 29 March 2010• Toyota has agreed to licence the hybrid technology in the Prius to Mazda, which will combine the electric system with its next-gen Sky engines. It’s part of Mazda’s plans to increase the average fuel economy of its vehicles by 30% by 2015 (compared to 2008 levels) and it hopes to have its first hybrid vehicle on sale in Japan by 2013 (Mazda)• Ford and Chinese car company Geely have signed a stock purchase agreement that will allow the latter to acquire 100% of Volvo (along with related assets including intellectual property rights).

BMW 4 Series Coupe makes UK debut at PGA Championship

We had our first look at the car that will replace the old 3-Series Coupe ahead of its debut at the 2013 Detroit Auto Show when the BMW 4 Series Coupe Concept arrived, looking like a winner even before it goes in to production. Even when you take away some of the fripperies of a concept, you’re still left with an impressive 4 series Coupe that’s longer and lower than the old 3 Series – and a lot better looking. In fact, the 4 Series looks a lot like a smaller 6 Series and is also likely to spawn a ‘Gran Coupe’ version at some point – just like the 6 Series – which could do very interesting things to sales of the regular 3 series saloon.

LCV VALUES DEFY POOR CONDITIONS

AN INCREASE in demand for four-wheel drive light commercial vehicles saw LCV values rise during December 2010, according to new figures from British Car Auctions. After reaching a low-point in November, the cold weather inspired a £37, or 0.9 per cent, rise in average LCV values to £4,067. Values were also boosted by a 25 per cent decline in the number of vehicles that came to auction during the month.