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U.S. seeks 5 percent annual fuel-economy gains through 2016

The Obama administration today proposed gasoline mileage and greenhouse-gas pollution standards for new vehicles for model years 2012 to 2015, filling in the blanks for manufacturers en route to a 35.5 mpg national target in 2016. The Transportation Department and EPA proposal calls for fuel economy to increase by about 5 percent each year, starting from an average of 27.3 mpg for the 2011 model year, the agencies said in a statement. The average car buyer would save more than $3,000 in fuel costs over the life of a vehicle, the statement said.

Ferrari auction raises funds for Japan relief

Car lovers came together for a good cause at the Italian Embassy in Tokyo on Monday. More than 200 people participated in a Ferrari charity auction, which raised more than 500,000 euros, or about $723,000 at current exchange rates. Proceeds will benefit the city of Ishinomaki, which was severely hit by the earthquake in Japan in March.

Hyundai wins Red Dot design award for New Genesis & New i10

The Hyundai Genesis (left) and Hyundai i10 have won the Red Dot design Award Oh, how things change. It’s not long since Hyundai’s USP was the cheapness of its cars, but those days are now gone; Hyundai now competes head to head with mainstream makers as the strength of its products improves with every new model and its designs make Hyundai appealing without resorting to bargain basement headline prices. That has been perfectly illustrated with the Red Dot Design awards for both the new Genesis and the new Generation i10, both of which have received the Red Dot Design award – a first for Hyundai.