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Congress scales back tax break for car buyers

A proposed tax break for new-vehicle buyers is dramatically scaled back in the final version of the economic stimulus bill. Auto dealers and their allies had sought to make interest on auto loans and the sales and excise taxes on new-vehicle purchases deductible from federal taxes. Proponents say those measures are needed to boost showroom traffic and sales.

Ferrari F12 Berlinetta design story uncovered [w/video]

Ferrari has revealed the secrets behind the design and development of its new F12 Berlinetta in a short video. The renowned Italian supercar manufacturer released the video, which focuses purely on the design process behind the F12 Berlinetta, the successor to the 599 GTO. The video, released as one part of a series, charts the development of the Berlinetta, the fastest that Ferrari has ever created, from the original sketches through the digital and clay modeling phases to finally deliver the finished product. The Ferrari F12 Berlinetta, one of the most hotly-anticipated cars of 2012, was officially unveiled at last week's Geneva motor show to crowds of fellow designers and members of the press as it appeared on both Ferrari and Pininfarina stands.

Toyota, Honda lead U.S. industry to 22 percent gain

U.S. light-vehicle sales, paced by Toyota and Honda, rose 22 percent in June as U.S. consumers continued to shake off economic jitters and replace aging cars and light trucks.