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Avis buys Zipcar and grows car-sharing capabilities internationally
Wed, 02 Jan 2013Zipcar, a car-sharing company that specializes in renting cars by the hour or day, announced Wednesday it will be acquired by Avis Budget for $491 million, or $12.25 a share. The action will help Avis compete against Hertz Global Holdings, which became the world's second largest car-rental company in 2012 following its purchase of Dollar Thrifty car-rental company for $2.6 billion, according to a Bloomberg report. “By combining with Zipcar, we will significantly increase our growth potential -- both in the U.S.
Saab's new 9-3 due in 2012 to set new Saab template
Fri, 04 Jun 2010By Tim Pollard Motor Industry 04 June 2010 10:13 Now the new 9-5 is launched, attention is turning to the next generation of Saabs. Speaking at the 9-5 launch in Trollhättan, Saab bosses told CAR that the new 9-3 would be the first model to bear the true hallmarks of the new independent Saab since the Detroit divorce.GM sold Saab to Dutch entrepreneur Victor Muller's Spyker group in February 2010 for $78 million and an equity swap – meaning that the 9-5 was done and dusted by the time Saab had become independent. Next year's new 9-4X crossover, paired with and built alongside GM's Cadillac SRX and due in April 2011, is also largely finished.
UK car production tops 1.5 million
Thu, 23 Jan 2014THE NUMBER of cars built in the UK topped 1.5 million last year, the highest for six years, amid what's being called "surging" demand at home and abroad. Production increased by 3.1% in 2013, with analysts predicting that output would reach record levels of around two million by 2017. The Society of Motor Manufacturers and Traders (SMMT) said the UK was set to become the third largest car manufacturer in Europe after Germany and Spain.