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Obama calls for shared sacrifice in auto bailout

President-elect Barack Obama says he wants to keep tough conditions on automakers that get federal loans. The companies must develop sustainable business models because it would be unacceptable "to keep them on their lifeline through taxpayer dollars in perpetuity," Obama told The Washington Post. Obama said industry restructuring will require "everybody, from labor to management to creditors to shareholders, giving something up." His comments contradict suggestions that the new administration will relax federal loan agreements reached last month with General Motors and Chrysler LLC, possibly with softer demands on the UAW.

New diesel engine for revised Meriva

VAUXHALL’s clever Meriva compact MPV is to benefit from a new 1.6-litre diesel engine. The quieter, smoother and more efficient engine replaces the aging 1.7-litre unit that had been in service across the Vauxhall, Chevrolet and other General Motors brands for many years. This is the second application for the new engine, following its debut in the much larger Zafira Tourer.

Honda to field seven entries at Pike’s Peak

Honda will join the 2014 Broadmoor Pikes Peak International Hill Climb as a sponsor and a competitor, the company said on Thursday. The company will run five cars up the hill, in addition to a motorcycle and an ATV. "Pikes Peak presents us with a unique opportunity to showcase Honda's diverse product lineup as we work to further strengthen Honda's presence in racing at all levels," said Art St.