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Great mileage? King Midget did that 50 years ago

WITH VIDEO -- As the world grapples with ever-decreasing stocks of inexpensive oil and ever-increasing traffic, the diminutive King Midget two-seater--made in the thousands from 1946 to 1970--starts to look pretty good. Again. "These cars will be the future kings of the road," said Petersen Automotive Museum director, and huge King Midget enthusiast, Dick Messer.

Renault cuts back UK range, axes Laguna, Espace, Modus

Renault UK today announced a dramatic shake-up of its range – it's axing all sales of the Laguna, Espace, Modus, Wind and Kangoo in the UK from February 2012. It's part of a big drive to improve profitability in Great Britain. It plans to stop the majority of its rental and Motability sales to improve profitability.

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.