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Detroit will be back, Schwarzenegger tells SAE conference

Borrowing his most famous movie line, California Gov. Arnold Schwarzenegger stepped into the heart of the domestic car industry today, declaring that the Detroit automakers will recover from the economic crisis. "Yes, they're wiped out.

Fangio’s 1954 Mercedes W196R F1 car sells for £19.6 million (video)

Fangio’s 1954 Mercedes W196R F1 (pictured) sells for £19 million The Goodwood Festival of Speed is all about cars and performance, but it’s not just cars on the ground and on the hillclimb. Goodwood is a Mecca for wealthy petrolheads as well as those who can only lust after the finest motoring metal – classic and current – so it’s a sensible place to run an auction for high-end cars. And you can’t get much more ‘high-emd- – at least in terms of value – than Juan Manuel Fangio’s 1954 Mercedes W196R Formula One car which went under the hammer yesterday at Bonham’s Goodwood auction, and reached a world record auction price of £19,601,500 (including premium – £17.5m before).

Volvo to shake up S, V, C and XC badges

Volvo will overhaul its naming system in the coming years - removing some of the uncertainty over odd numbers in the same range, such as the S40 and V50.Chief executive Stephen Odell today admitted he found Volvo's badges confusing when he first joined Volvo two years ago. 'When I arrived at Volvo I struggled to understand the nomenclature,' he admitted. 'Yes, we will be changing it.'Under the new naming system, the S40 and V50 would carry the same number.