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Ford reportedly to shut down Mercury

The Mercury brand, rumored to be on the verge of death several times over the past decade, would be shut down under a plan being prepared for Ford Motor Co.'s board of directors, Bloomberg News reported on Thursday. Citing two executives who have knowledge of the plan but asked not to be identified, the news service said the plan would be submitted to Ford's board in July. How quickly Mercury would be shut down depends how quickly the automaker can convince Lincoln Mercury dealers to close or merge with a Ford-brand dealership, the report said.

Road funding must increase, say MPs

THERE needs to be a big increase in Government funding and a change of approach for England's major road network if predicted traffic increases are correct, according to MPs. But any move towards using road charging to pay for the extra funding couldn't be achieved without broad agreement among politicians and motorists, said the House of Commons Transport Committee. In a report the committee added that it was "not convinced" by the case for establishing the Highways Agency, the body responsible for England's motorways and major A-roads, as a Government-owned company.

Auto sales top 14.4 million in 2012

U.S. light-vehicle sales--led by Volkswagen, BMW and Honda--jumped 9 percent in December, pushing the seasonally adjusted sales rate above 15.3 million for the second consecutive month and helping the industry finish 2012 on a high note. Automakers sold 14.49 million light vehicles in the U.S.