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Porsche chief Wendelin Wiedeking resigns

Porsche chairman Wendelin Wiedeking has bowed to mounting pressure in announcing that he will step down immediately. The resignation came Thursday, following a surprise meeting of the company's supervisory board at its Weissach R&D headquarters outside of Stuttgart, Germany, on Wednesday night. Wiedeking's announcement comes after months of tense and public infighting following Porsche's failed attempt to wrest control of Volkswagen, which left it with $12.7 billion in debt, and slowing sales in key markets such as North America.

New Ford Mustang for Europe gets 500 orders in first 30 seconds

The new Ford Mustang (pictured) was much in demand. The new Ford Mustang effectively went on sale in Europe at the UEFA Champions League final at the weekend, and it was an overwhelming success for Ford. Not only did Ford get the first 500 registrations – enough for the entire initial European offering – in the first 30 seconds,  it ended up with a total of 9,300 registrations during the match, and Ford say the lucky 500 ‘winners’ – 130 of them in the UK – will be notified in the next few weeks if they’re getting a new Mustang.

New car sales surge by 7.6%

THE SURGE in new car sales has continued into the new year. There were 154,562 new vehicles registered last month, a 7.6% rise on January last year, the Society of Motor Manufacturers and Traders (SMMT) said. The society said sales of alternatively fuelled vehicle increased by 25%.