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All used up: Pre-owned sales rise as consumers seek new-car alternatives

Used-car sales took a leap upward in April, and the trend is expected to continue at least until midyear as pent-up demand for affordable pre-owned vehicles jacks up at least one segment of the car marketplace. Sales of new cars continued an unabated slide toward what analysts say is a 30-year low in the United States, but used-car sales showed strength as buyers unable to finance new cars shifted their sights to less expensive used models. As a result, retailers such as the large Penske Automotive Group reported that despite an overall decline in sales in the first three months of 2009, improving used-car sales kept them in the black.

Lee Noble announces his new supercar project

The spirit of the original Noble M12 will be revived by the new Fenix Automotive supercar from Lee Noble By Tim Pollard Motor Industry 19 November 2009 01:00 Brit supercar visionary Lee Noble today has announced his new supercar project. His latest venture is called Fenix Automotive Limited – and it'll launch a new sub-£75,000 V8 supercar by this time next year, it was revealed today.The new Fenix-designed sports car will be a lightweight, mid-engined V8 that'll carry on where the original Noble M12 and M400 left off. Although the new supercar hasn't been named yet, Noble promises it'll be an ideal track-day tool capable of ripping to 100mph in less than seven seconds or pootling around on a weekend road trip.Hang on.

Ford earns $2.6 billion in first quarter

Ford, helped by new models, rising U.S. sales, and a rebound in Europe, reported a first-quarter profit of $2.6 billion today. In the first quarter of 2010, Ford earned just over $2 billion.