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Fisker lays off majority of staff

This story originally appeared on Automotive News Fisker Automotive, the plug-in hybrid sports-car maker that has been grappling with financial troubles, laid off about 160 of its more than 200 employees Friday morning. A Fisker source who was among the employees affected said the layoff took place at about 8 a.m. Pacific.

Volkswagen mulls new Phaeton for the US market

Volkswagen is giving some serious thought to bringing back the Phaeton sedan to the U.S., Automotive News reports. We haven't seen the Phaeton since 2006, when it was withdrawn from the North American market after lackluster sales. Built at the same factory as the much more expensive Bentley Continental GT and sharing much of the underlying mechanicals, the Volkswagen Phaeton managed to be a slower seller in the U.S.

MAZDA5 RESIDUAL PERFORMANCE IS 'BEST KEPT SECRET'

A NEW diesel version of the Mazda5 MPV has stormed onto the market with the best residuals in its class. Used car valuation expert CAP has described the 1.6-litre diesel model as a "best kept secret" and has predicted that the Sport model will retain 32 per cent of its value after three-years and 60,000-miles. The TS2 model also performs extremely well, with a 31 per cent retained value predicted.