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News watch March 2010: today's auto industry news

Tuesday 30 March 2010• Mercedes has dismissed claims that its Maybach brand is for sale, after reports in the Chinese media claimed Chinese car company BYD was considering a bid for the upmarket offshoot. BYD has also denied the claims (Reuters)• Toyota president Akio Toyoda has promised his company will listen more carefully to customers and react faster in a bid to regain credibility after the Japanese car manufacturer was forced to recall millions of vehilces over safety fears (BBC)• The Obama administration is expected to unveil its finalised fuel economy and tailpipe emissions through to 2016 this week, to coincide with the opening of the 2010 New York auto show (Detroit News)  Monday 29 March 2010• Toyota has agreed to licence the hybrid technology in the Prius to Mazda, which will combine the electric system with its next-gen Sky engines. It’s part of Mazda’s plans to increase the average fuel economy of its vehicles by 30% by 2015 (compared to 2008 levels) and it hopes to have its first hybrid vehicle on sale in Japan by 2013 (Mazda)• Ford and Chinese car company Geely have signed a stock purchase agreement that will allow the latter to acquire 100% of Volvo (along with related assets including intellectual property rights).

Toyota fails to land 'top safety pick' rating in insurance-group study

For the first time in three years, none of Toyota Motor Corp.'s vehicles received “top safety pick” ratings from an insurance group, as tougher criteria pared the number of selections from 94 last year to 27 this year. Ford Motor Co. led all automakers for the second year in a row with six 2010-model top safety picks from the Insurance Institute for Highway Safety, including four from Volvo, a brand that's being sold.

£400,000 parking space for sale

The UK’s most expensive parking space has been advertised for a whopping £400,000 – 15 times the average UK salary. The space, which holds two cars, is located close to the Royal Albert Hall in Kensington. On Bing: see pictures of expensive parking spaces London world’s most expensive place to park Its pricetag is 2.5 times that of the typical UK house – but still £3,792 cheaper than the average house in London, according to the Daily Telegraph.