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BMW leads Audi, Mercedes-Benz in June global luxury-sales race

BMW AG's core brand topped rivals Audi and Mercedes-Benz, selling 134,432 cars worldwide in June, a rise of 12.3 percent over 2010 figures, the company said today. Mercedes sold a record 120,510 units in June, a rise of 6.4 percent, topping Audi, which saw June sales grew 19 percent to 117,650 cars last month. BMW brand's global deliveries, boosted by sales of the new 5-series sedan and X3 SUV, rose 17.8 percent to 689,861 units in the first six months of the year, ahead of Audi's 17.7 percent rise to 652,950 cars.

GreenGT H2 completes first laps ahead of 2013 Le Mans

Are we entering the era of the eco-friendly racing car? French outfit GreenGT could be spearheading the push, with the announcement its new H2 hydrogen racing car has completed its first successful racing laps testing at the Magny-Cours circuit in France. The wacky-looking hydrogen hybrid racing car will compete in the 2013 Le Mans 24 Hours endurance race, filling the ‘experimental competitor’ pit garage vacated by the radical-looking 2012 Nissan DeltaWing.

Nissan to slash jobs, production after forecasting $2.9 billion loss

Reversing his profit forecast to a loss, Nissan Motor Co. CEO Carlos Ghosn entered crisis mode on Monday. Ghosn announced plans to slash 20,000 jobs, cut production by 20 percent, scale back model launches and delay new factories.