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Avis buys Zipcar and grows car-sharing capabilities internationally

Zipcar, 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.

2015 Hyundai Sonata shows off at the New York auto show

Hyundai dished more details about its redesigned 2015 Hyundai Sonata at the New York auto show, including plans to introduce a “Sport” trim level for the U.S. market to compete with the Toyota Camry SE and Honda Accord Sport. “We were actually able to do quite a lot,” to differentiate the sporty Sonata version and a couple more variations, said John Shon, product planning manager for Hyundai Motor America.

Audi A3 hatch, Sportback and saloon (2012) sketches

Audi has released a batch of official design sketches revealing the new 2012 Audi A3. This is our first glimpse of the new A3 hatch, A3 Sportback and A3 saloon. There will be another A3 cabriolet, but no renderings have been issued yet.