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Avis buys Zipcar and grows car-sharing capabilities internationally

Zipcar, a car-sharing company that specializes in renting cars by the hour or day, announced Wednesday it will be acquired by Avis Budget for $491 million, or $12.25 a share. The action will help Avis compete against Hertz Global Holdings, which became the world's second largest car-rental company in 2012 following its purchase of Dollar Thrifty car-rental company for $2.6 billion, according to a Bloomberg report. “By combining with Zipcar, we will significantly increase our growth potential -- both in the U.S.

Chrysler's heavy-duty Ram pickups are on the way to dealers

Chrysler's Ram line of 2010 heavy-duty pickups, the first new vehicles to debut since the automaker emerged from bankruptcy in June, will begin arriving in dealerships within three weeks. They are also the first products launched under the new Ram brand since Chrysler Group CEO Sergio Marchionne split the Dodge car and Dodge Ram truck lines. The brands are now run as separate businesses, with their own profit and loss accountability.

Wolfgang Bernhard will take key post at Mercedes-Benz

Wolfgang Bernhard will take a key role at Daimler AG's Mercedes-Benz Cars unit, the company said today. Bernhard will join Daimler's management board with responsibility for Mercedes-Benz Cars' production and procurement and for the Mercedes-Benz vans division, a statement said. Bernhard, 49, was Daimler CEO Dieter Zetsche's right-hand man at Chrysler before Daimler sold its former U.S.