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Volkswagen chief: No. 1 in the world by 2018

Volkswagen chairman Martin Winterkorn reaffirmed his company's ambitious and audacious goals on Wednesday night on the eve of the Paris motor show: pass Toyota and General Motors for the title of world's largest automaker in 2018. Winterkorn was the final speaker after an event that featured unveilings from each of the German conglomerate's brands. He said his company wants to record total sales of 10 million in eight years, which would vault it pass the current levels of global leaders Toyota and GM.

Ferrari F70: First Photo

We have what appears to be the first photo of the Enzo replacement - the Ferrari F70 – taken at a private viewing for Ferrari clients in China. Despite expectations that the new Ferrari F70 would be revealed before the end of 2012 – which is what Ferrari boss Luca di Montezemolo told us – we still haven’t had the reveal of the F70 in any form, and certainly not at the Los Angeles Auto show, where we expected Ferrari to debut their new hypercar as it’s the last motor show of note for 2012. It now looks like – short of a non-motor show reveal – that the new F70 will bow in at Detroit in January, but ahead of that it seems Ferrari are already showing the F70 to select clients.

Diesel and hybrid sales up for 2012

When gasoline prices go up, sales follow—especially sales of diesel and hybrid cars. Diesel sales have risen a whopping 35 percent in the first quarter of 2012, according to data compiled by www.hyrbidcars.com and Baum and Associates. A total of 28,260 oil burners changed hands.