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Karmann files for insolvency

Karmann, the century-old German coachbuilder synonymous with cabrios and the famous 1950s Karmann Ghia, has filed for insolvency. The company made the move Wednesday in Germany in response to a dramatic decline in revenue, an inability to pay for its massive layoff plan and the worldwide economic crisis. The North American operations, which make convertible tops for Detroit car companies and Volkswagen, are not affected, a spokesman said.

Dacia Sandero really is cheap – from just £69 a month

Renault has boasted about how cheap their Sandero and Duster are, and with monthly payments from just £69, they right. Admittedly, you do need to stick a deposit of £1,845 down if you want to pay just £69 a month, but even if you can only rustle up £699 you can have the duster for £99 a month. At that sort of price – thanks to a deadline offering from just £5,995 – it’s about as cheap a way in to a new car as you could hope for.

Guzzler program still operating; White House searches for funds

The federal cash-for-guzzlers program continues to operate this morning despite dealer reports that it was to be suspended at midnight last night because it was approaching its $1 billion limit. "It is not suspended," a White House spokeswoman, who asked not to be named, said in an interview today. "We continue to assess the program and its budget." National Automobile Dealers Association spokesman Bailey Wood said Thursday that the group had been told by Transportation Department officials of plans to suspend the program after just six days.