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BMW, Daimler experiment with upscale rent-by-the-ride
Fri, 24 Dec 2010Two European luxury brands are tiptoeing into car sharing, a radical move for carmakers whose business for the past 100 years has been selling to individuals. German archrivals Daimler AG and BMW AG have launched sharing programs. The automakers say the move was prompted by changing attitudes about car ownership, especially among young buyers, and increased urban congestion.
Ferrari 456: why Maranello is considering a V6 entry-level supercar
Mon, 25 Aug 2014By Georg Kacher Motor Industry 25 August 2014 07:00 Ferrari is readying the next generation of supercars – and we’ve already reported how it’s about to start turbocharging the majority of its sports cars. But there’s another corner of Maranello’s R&D skunkworks which is developing V6 power for future sports cars. We do not have official confirmation yet, but intelligence indicates that the new twin-turbo V6 is a 2.9-litre unit, designed to be long-term street-legal and affordable in big growth markets such as China.
News watch August 2010: today's industry news
Thu, 26 Aug 2010Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hourTuesday 31 August 2010• HSBC has sold its US car loan business to Spanish bank Santander, for an estimated £2.6bn in cash and assumed debt. The move sees the bank further distance itself from the collapsed US sub-prime market (Financial Times, subsription required) • Toll roads do not improve congestion, according to the Campaign For Better Transport. Its claims M6 toll road operator Midland Expressway Ltd is losing ‘tens of millions of pounds’ each year, while conditions on the original M6 have failed to improve (Campaign for Better Transport) Friday 27 August 2010• Spyker, which bought Saab earlier this year, has posted a €139m loss after tax in the first half of 2010 it announced today (Financial Times)• Fiat CEO Sergio Marchionne says the business is performing strongly in the third quarter – and has ruled out selling Alfa Romeo.