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Ssangyong XIV-1 concept

Ssangyong is the latest car manufacturer to confirm they will be showcasing a new concept car at the 2011 Frankfurt motor show, the XIV-1. The XIV-1 B-segment concept, previously known as the XUV-1, is a crossover concept that underlines the importance of the car's interaction with its driver and passengers, with the vehicle's name coming from the phrase 'eXciting user Interface Vehicle'. Ssangyong will also be premiering the SUT-1 sports utility vehicle, first shown in concept form at the 2011 Geneva motor show and debuting the petrol-powered Korando crossover.

Moody's boosts Ford's credit rating

Moody's Investors Service upgraded Ford Motor Co.'s debt to investment grade, culminating the automaker's six-year struggle to win back the Blue Oval and other assets mortgaged in 2006. Moody's is the second agency to upgrade Ford's debt from junk status, paving the way for the company to recover assets it mortgaged in 2006 to stave off bankruptcy. The company raised $23.5 billion in a move that allowed it to avoid government bailouts or bankruptcy when the industry collapsed in 2008.

Drivers waste £1.9 billion on insurance

A TOTAL of £1.9 billion is being wasted by drivers in the UK who automatically renew their car insurance without shopping around for the best deal. A study has found 2.4 million drivers in the UK don’t bother to compare quotes to get the best deal when their car insurance comes up for renewal. The research by Moneysupermarket.com found 8.6 million drivers in Britain could be better off by up to £220 per year each if they moved to a new insurer.