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U.S. seeks 5 percent annual fuel-economy gains through 2016

The Obama administration today proposed gasoline mileage and greenhouse-gas pollution standards for new vehicles for model years 2012 to 2015, filling in the blanks for manufacturers en route to a 35.5 mpg national target in 2016. The Transportation Department and EPA proposal calls for fuel economy to increase by about 5 percent each year, starting from an average of 27.3 mpg for the 2011 model year, the agencies said in a statement. The average car buyer would save more than $3,000 in fuel costs over the life of a vehicle, the statement said.

Rolls-Royce Ghost Series II (2014) first official pictures

By Ben Pulman First Official Pictures 04 March 2014 10:30 Rolls-Royce doesn’t facelift or revise its models quite like the rest of the world’s car manufacturers. Instead, mere mortal, you’re looking at the Rolls-Royce Ghost Series II, and the company claims, quite seriously, that the launch of this revised über-saloon ‘consolidates the Ghost’s position as the most popular car in the €200,000+ class.’ And in case you’re not feeling suitably poor or unaccomplished this morning, Rolls would like to point out this car probably isn’t for you either. Customers who’ll buy the Ghost Series II, says Rolls, are ‘the captains of industry, entrepreneurs and successful businessmen and women who are the wealth and job creators in our economies.’ Unless you’re on first name terms with the PM, you’re probably not overly familiar with the Ghost, but those who party with ‘Dave’ should be able to spot the subtle revisions, including sleeker LED headlights with daytime running lights.

Ford posts $3 billion quarterly profit

Ford Motor Co. earned $3 billion in the fourth quarter, helped by a large gain from one-time tax items, and its full-year profit rose as U.S. sales and market share increased.