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GM returning to leasing with luxury vehicles

General Motors will return to the leasing business focusing on luxury vehicles, but not on a broader basis, Vice Chairman Bob Lutz said. "We will get back into leasing, but we are not going to use massive subsidized leasing to drive volume because it's volume without profitability," Lutz said July 29 in an interview with Automotive News. "We'd rather sell less at higher profit than sell more at lower profit." Lutz said it still would make sense for GM to do more leasing on its luxury vehicles.

Black cab fares to rise

BLACK cab fares in the capital are going up and could rise again as early as next January. From April 5, London taxi fares will increase by an average of 0.7%, Transport for London (TfL) announced today. TfL said the below-inflation increase was the lowest since it took responsibility for licensing taxis in 2000 and the rise equated to just 9p more on an average fare.

Ferrari 599 successor to debut at Geneva show

Ferrari has confirmed that the follow-up to the 599 Fiorano will debut at the Geneva motor show next month. The latest in Ferrari's long line of front-engine V12 GT cars, which stretches back to the 166 Inter of 1948, it's rumored to boast in the neighborhood of 700 hp. That's roughly double the power of the 365 GTB/4 pictured above, which Dan Gurney and Brock Yates famously used to cross the country in 35 hours and 54 minutes back in 1971.