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Magna mulls Pininfarina takeover

Canadian-Austrian parts supplier Magna International Inc. is weighing a proposal to buy Italian design specialist Pininfarina S.p.A., three sources with direct knowledge of the matter told Automotive News Europe. Earlier this month, Pininfarina's quarterly earnings report disclosed that the company could be sold as soon as Dec.

Crunch watch June 09: the auto industry in crisis

By Tim Pollard, Ben Pulman and Peter Adams Motor Industry 30 June 2009 11:35 Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour  Tuesday 30 June 2009• Porsche says it is no longer applying to the German Kreditanstalt für Wiederaufbau central bank for a €1.75 billion bridging loan. This means it'll now have to seek finance elsewhere (Porsche) • Seat announces its best-ever month for used car sales; it sold 915 second-hand cars in May (Seat)Monday 29 June 2009• Jaguar Land Rover has opened its first showroom in India.

Missing oil changes is false economy

TRYING TO SAVE money on motoring costs by not changing a car’s oil is risking a false economy as it could lead to more wear and fuel consumption, according to Two-thirds (65%) of British drivers admitted they have not changed the oil in their car in the last 12 months, with the same number admitting they buy oil for their car based solely on price. The same study by Mobil 1 also showed only 45% of drivers knew when their car’s scheduled service intervals were, while 15% said they would cut back on servicing to save money. Dan McGoldrick, of Mobil 1, said: ‘Choosing the right oil for your car is vital as it means both the lubricant and the engine will last longer, so you’re saving in the long term.’ Tim Shallcross, Head of Technical Policy at the Institute of Advanced Motorists, added: ‘Apart from lubricating the engine, oil has the important job of absorbing harmful by-products given off by the burning fuel.