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Smart's $99 loan deal has big balloon payment at end

Hoping to benefit from the federal cash-for-guzzlers program, Smart USA has set up a $99 monthly payment for buyers who use their $4,500 rebate. But there's a catch--and a hefty balloon payment disclosed only as a note to an asterisk in Smart's press information announcing the offer. The Smart financing is for $99 a month for 36 months, with a balloon payment of $6,667 due at the end.

U.S. auto sales continue to plunge in February

February sales for each of the top six U.S. automakers plunged more than 37 percent in February--the worst month since December 1981. "We are in an automotive depression amid 'The Great Recession,' " Standard and Poor's analyst Efraim Levy said in a report.

Qoros GQ3 (2013) first official pictures

New Chinese manufacturer Qoros has shown its new Focus and Golf rival - the GQ3 - ahead of its planned debut at the 2013 Geneva motor show. The first in a string of models planned for launch in China and Europe, the Qoros GQ3 is at first glance a reasonably accomplished design which should be able to compete for showroom appeal with the likes of Skoda and the Korean budget brands. Of course, what has held back Chinese car brands in the past is quality: we can't tell from these first official photos whether Qoros has cracked that or not.