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McLaren P1 sales will double turnover and quadruple profit in 2014 for McLaren

The McLaren P1 (pictured) boosts McLaren’s profits We’re starting to see the McLaren P1 – McLaren’s modern replacement for the iconic McLaren P1 – rolling out to lucky owners, and that will continue apace during 2014. Which means McLaren will see a big rise in its turnover and an even bigger rise in profits – up four-fold – as the £866,000 P1 replenishes McLaren’s bank account. But, although it will take a while to build, deliver and get paid for all 375 P1s, the P1 won’t be a long-term cash cow for McLaren, just a nice little booster as it starts to plan to up production to 4,500 cars a year over the next few years.

Nissan's London taxi to be assembled in Coventry

NISSAN has announced that final assembly of its new NV200-based London taxi will take place in Coventry, contributing to a £6 million investment in a brand new facility. ADV Manufacturing will undertake the final production stage before each unit then heads for the streets of the English capital. Andy Palmer, Chief Planning Officer and Executive Vice President of Nissan Motor Corporation, revealed the news as part of his address to students at Coventry University, where he was delivering the prestigious Bugatti Lecture on the future of motoring.

Ford issues third recall for 2013 Escape

Ford is recalling the redesigned 2013 Escape SUV for a third time this summer and the second time to fix a problem that could cause a fire in the engine compartment. The recall covers about 7,600 Escapes equipped with the 1.6-liter four-cylinder engine. About 6,150 of the recalled vehicles are in the United States, and the rest are in Canada.