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Avis buys Zipcar and grows car-sharing capabilities internationally

Zipcar, a car-sharing company that specializes in renting cars by the hour or day, announced Wednesday it will be acquired by Avis Budget for $491 million, or $12.25 a share. The action will help Avis compete against Hertz Global Holdings, which became the world's second largest car-rental company in 2012 following its purchase of Dollar Thrifty car-rental company for $2.6 billion, according to a Bloomberg report. “By combining with Zipcar, we will significantly increase our growth potential -- both in the U.S.

CCS Ford Model T project

This past semester, eleven junior-level College for Creative Studies (CCS) Transportation Design students were asked to reinterpret an automotive icon: the Ford Model T. Over the course of the 16-week semester the students created 11 different concepts for a Model T for the future without forgetting the underlying principle - creating an icon that would have equal significance and social impact like the 100 year old original.   On April 30 each of the students presented their research, sketches, renderings and one- quarter scale models judged by Peter Horbury, Ford Executive Director of Design, The Americas and Pat Schiavone, Ford's Design Director for North America Trucks and CUVs. The winning concept, which the judges thought best embodied the spirit, innovation and sociological impact equal to that of the original Model T, was created by Dong Tran, of Cicero, New York.

Hyundai recalls 2011 Sonatas for steering fix

Hyundai will recall about 139,500 versions of the 2011 Sonata in the United States for steering issues that could cause a loss of turning capabilities, according to Bloomberg News. Hyundai said there were fewer then 10 Sonatas, built between Dec. 11, 2009, and Sept.