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Guzzler program still operating; White House searches for funds

The federal cash-for-guzzlers program continues to operate this morning despite dealer reports that it was to be suspended at midnight last night because it was approaching its $1 billion limit. "It is not suspended," a White House spokeswoman, who asked not to be named, said in an interview today. "We continue to assess the program and its budget." National Automobile Dealers Association spokesman Bailey Wood said Thursday that the group had been told by Transportation Department officials of plans to suspend the program after just six days.

Ferrari 250 GTO sells for $35 million

A Ferrari 250 GTO – once owned by Sir Stirling Moss – is reported to have sold for a record-breaking $35 million. The Ferrari 250 GTO is probably the most coveted car on the planet and is, therefore, one of the most expensive. Simple supply and demand dictates that when a product is reckoned to be the best there is and the supply is limited prices will rise.

BMW-Mercedes alliance: the latest news

By Georg Kacher Motor Industry 06 October 2008 17:13 BMW and Mercedes are continuing to work on joint projects, CAR can reveal. The two premium brands reckon working together might just stave off the threat of the credit crunch, collapsing car sales in key markets and the uncertainty wobbling the very foundations of the motor industry. But the BMW-Merc collaboration is proving difficult, according to executives in Germany contacted by CAR.