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Moody's boosts Ford's credit rating

Moody's Investors Service upgraded Ford Motor Co.'s debt to investment grade, culminating the automaker's six-year struggle to win back the Blue Oval and other assets mortgaged in 2006. Moody's is the second agency to upgrade Ford's debt from junk status, paving the way for the company to recover assets it mortgaged in 2006 to stave off bankruptcy. The company raised $23.5 billion in a move that allowed it to avoid government bailouts or bankruptcy when the industry collapsed in 2008.

Caterham creates next car online

By Ben Whitworth Motor Industry 05 November 2008 10:08 Caterham has turned to cyberspace to design its next model – the low-volume carmaker is calling on fans around the world to log onto a bespoke website to submit their ideas and designs for every aspect of the new Caterham, before ultimately voting on what makes it to the final vehicle. The website – www.splitwheel.com - will act as a forum, hosting blogs, articles and what Caterham calls ‘a Wikipedia-style user-edited knowledge base’ to turn user input into a workable vehicle design. A comprehensive voting system that covers all aspects of the car will then be initiated, and once the final specification is agreed a prototype will be produced with initial production slated for 2011.

Toyota plans recall for engine glitch next week

Toyota Motor Corp. may next week recall up to 270,000 vehicles worldwide to fix an engine glitch. Toyota said it would file the recall in Japan on Monday, covering 90,000 high-end sedans.