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Gatso revenues 'quadrupled' under Labour

The UK's blight of speed cameras have quadrupled the revenues raised from fines, say the Conservatvies By Tom Richards Motoring Issues 06 August 2008 13:04 A million extra speeding tickets are being dished out every year compared with when Labour first came to power in 1997, the Opposition claimed this week. The Conservatives have published figures proving that the number of speeding fines has leaped from 712,753 in 1997 to 1,773,412 in 2006. The shocking stats include fines given to motorists caught on camera as well as those stopped at the roadside by traffic police.

Britain leads bumper year for Ferrari

FERRARI may be struggling on the Formula One track, but its bank accounts are in fine shape after profits reached new record highs. After delivering 3,631 cars in the first six months of the year – 3.6% fewer than the me period in 2013, in line with the company's plans to reduce deliveries – revenues were up 14.5% to almost £1.35 billion. Profits rose 5.2% to £185 million, which should pay for a good send-off for the outgoing Ferrari Chairman Luca di Montezemolo after his 23 years of service.

Spyker signs deal with China's Hawtai Motor to raise funds for Saab

Saab owner Spyker Cars on Tuesday said it has signed an agreement with China's Hawtai Motor Group to form joint ventures for manufacturing, technology and distribution. The agreement will also provide $222 million (150 million euros) funding for Saab, which has been forced to halt production because it cannot pay suppliers' bills. Victor Muller, Spyker CEO and Saab chairman, said the partnership will allow Saab to enter the Chinese car market with a strong Chinese manufacturer.