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Jaguar Land Rover profits up 34 per cent to £1.5 billion

Just four years after Tata took over what looked like a basket case in Jaguar Land Rover, profits have hit £1.5 billion. It’s become the norm for Jaguar Land Rover to report ever improving profits and sales, but the news that JLR made profits of £1.5 billion in the year to end of March 2012 is still amazing. Ford sold Jaguar and Land Rover to Tata four years ago as it unwound its faltering luxury car brands, and as recently as 2009 JLR were almost begging for government help to keep going.

GM shelves Camaro convertible, Z28

General Motors has delayed indefinitely the Chevrolet Camaro convertible and Z28 high-performance variant to save cash, sources say. GM also has tabled plans to add a four-cylinder engine version of the Camaro. GM is starting to ship the Camaro to dealers this week.

Hertz announces Ford Mustang-based Hertz Penske GT rental car

There's nothing wrong with your basic cloth-interior rental cars, but there are times when you want to stumble off the plane and into something a bit more stimulating than a CVT-equipped Versa. Fortunately, rental car companies seem to be willing to answer the enthusiast call. Last week we told you about the Hertz Dream Car lineup and its $1,500-per-day Ferraris, but the company has also developed the muscle-car oriented Adrenaline Collection.