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Used car sales return to pre-recession levels

USED CAR SALES reached 7.1 million units in 2012, on a par with pre-recession levels and a climb of 6.4%, according to a comprehensive market report. The 2013 BCA Report by British Car Auctions valued the used car market a £38.1 billion in 2012, putting it £5.8 billion ahead of the new car market over the same period. In particular sales of younger used cars (0-2 years) increased significantly, rising by 18.6% to 762,000 and reversing a three year trend of falling volumes in this age sector.

Electric cars amped up with £500 million boost

THE GOVERNMENT is to extend the £5,000 grant scheme open to anyone who buys a car with plug-in electric power. It is part of a £500 million move to encourage car owners – and city authorities – to take up the electric car baton and run with it. The initiative will give cities a chance to win government funding to further the sales of electric cars in their areas, for example by allowing them to use bus lanes or park for free.

Toyota to build Corollas at revived Mississippi plant starting in late 2011

Toyota will resume construction on its mothballed plant in Mississippi and begin producing the Corolla there late next year. “We first needed to fully utilize our existing facilities as the economy slowed,” Yoshimi Inaba, president of Toyota Motor North America, said in a statement Thursday. “Now it's time to fulfill Toyota's promise in Mississippi.” The automaker said it will hire 2,000 workers “soon.” Corolla output would mark another shift for the project.