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Cautious welcome for fuel duty freeze

MOTORING groups have given a cautious welcome to Chancellor George Osborne's announcement of a freeze on fuel duty until May 2015. Both the AA and the RAC pointed out that Mr Osborne was already getting big sums from motorists in taxation. Professor Stephen Glaister, director of the RAC Foundation, said: "Transport is the single biggest area of household expenditure bar none and our own research shows that 800,000 of the poorest households are in transport poverty, spending a quarter or more of their income on running a car.

Ferrari chief Montezemolo balances growth, exclusivity

On the morning of the day he celebrated 20 years as head of Ferrari, Luca Cordero di Montezemolo says his first thought was about the future, not the past. He pondered what the world's most famous sports-car maker would look like in 2020. "I have not come up with a comprehensive idea yet," said Montezemolo in an interview at his office in Maranello, 11 miles south of Modena in central Italy.

UK Car Sales up again in October 2012

New car registrations rose in October by 12.1 per cent in the UK, the ninth month of 2012 to see rising car sales. The European car market may be in a real mess with carnage looming for production facilities run by mainstream car makers, but the UK continues to grow its new car market with sales in October up by 12.1 per cent. Total new car registrations (which includes pre-reg) rose to 151,252 units, the ninth monthly increase of 2012, and the SMMT are now predicting total sales for 2012 of over 2 million, back to 2010 levels after a fall in 2011 to below the 2 million mark.