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U.S. auto sales continue to plunge in February

February sales for each of the top six U.S. automakers plunged more than 37 percent in February--the worst month since December 1981. "We are in an automotive depression amid 'The Great Recession,' " Standard and Poor's analyst Efraim Levy said in a report.

GM officially bankrupt

GM finally enters Chapter 11 Bankruptcy The US Government is to provide £30 billion to fund the transition, with GM being split in to ‘Old GM’ and ‘New GM’. In exchange for the money the US Government will take a 60% stake in ‘New GM’ with all the toxic assets and liabilities being disposed of through ‘Old GM’. The restructuring will allow GM to survive on a third less sales than before (10 million instead of 15 million).

Toyota Hybrid-R Concept – a Yaris with 400bhp – teased for Frankfurt

The Toyota Hybrid-R Concept (pictured) is a 400bhp Yaris Hybrid heading for Frankfurt We’ve always believed that the best use for hybrid powertrains is to get extra performance without the penalty of increased fuel consumption. Toyota, on the other hand, have primarily used their impressive – if complicated and expensive – hybrid powertrains to yield improved economy and emissions from more prosaic cars like the Prius, Yaris and Auris. But now it looks like Toyota are ready to show us what hybrid technology can offer in the way of performance too, with a tease for what Toyota are calling the Hybrid-R Concept, which appears to be a Yaris with more than 400bhp on tap.