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Peugeot 308 wins European Car of the Year 2014

By Ollie Kew Motor Industry 03 March 2014 14:30 The Peugeot 308 has won the 2014 European Car of the Year award. The new family hatchback fought off competition from the likes of the tech tour de force Mercedes S-class and slick-driving new Mazda 3 to take the gong. The 308 also bested BMW’s i3 EV, which won the UK Car of the Year award, and the acclaimed Tesla Model S electric saloon.

Ferrari sets personal best in China

It was a solid year for Ferrari in the burgeoning Chinese car market in 2010, as the Italian dream maker racked up its most impressive sales in that country with a tally of 300 cars. Sales were up almost 50 percent compared with 2009 results. With 10 current dealerships and the addition of some new business partners, Ferrari expects the added sales for Hong Kong and Taiwan will elevate the region to one of the company's top five international markets.

Chrysler says it needs another $2 billion in aid

In submitting its viability plan to the federal government on Tuesday, Chrysler asked for an additional $2 billion beyond the $7 billion in loans it sought late last year and outlined further steps to cut costs. Chrysler said it will reduce fixed costs by an additional $700 million, cut 100,000 more units of production capacity, discontinue three more model lines and sell $300 million more in assets.