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House narrowly passes scaled-back 'cash-for-clunkers' bill

The U.S. House on Tuesday narrowly passed a scaled-back version of a bill that would give consumers cash vouchers of between $3,500 and $4,500 if they trade in their cars for newer, more fuel-efficient vehicles. The $1 billion cash-for-guzzlers proposal, modeled after successful programs in Germany and other European countries, is part of a $106 billion supplemental spending measure designed mostly to fund the wars in Iraq and Afghanistan.

A new batch of Ford Mustang Cobra Jets is on the way to racers

The 40th Anniversary 2008 Mustang Cobra Jet, announced about a year ago, has been such a huge success for Ford Racing that the company will build a 2010 model, available later this year. Like the '08 CJ, just 50 examples of the turnkey race car will be built, the minimum number to homologate the car for competition in National Hot Rod Association events. An '08 Cobra Jet won its inaugural event in the Stock Eliminator Class in February at the NHRA Winternationals in Pomona, Calif., just as the original 1968 Cobra Jet did.

Nissan to pull Infiniti production out of Japan to counter strong yen

The high value of the yen will prompt Nissan Motor Co. to shift production of Infiniti vehicles out of Japan to other locations, Nissan CEO Carlos Ghosn said. "You won't have to wait a long time before we make a decision about the new base for sourcing of Infiniti," Ghosn told a group of reporters April 4 during the New York auto show.