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Europe's Car of the Year 2011 shortlist announced

The 41 contenders for Europe's 2011 Car of the Year trophy have been whittled down to the final seven as the European CoTY shortlist is announced today. The winner will be voted for by 59 of Europe's most influential motoring journalists, including two CAR writers: editor Phil McNamara and European editor Georg Kacher. The 2010 winner - by just 10 points ahead of the Toyota iQ - was the Volkswagen Polo. Like the Eurovision Song Contest, Car of the Year has proved controversial in the past with accusations of block-voting and blind patriotism, yet the award remains one of the most prestigious in the motor industry.

Higher gas prices? Blame ethanol

MarketWatch reported today that the price of ethanol has seen a 30-percent price increase so far this year, taking the price of gasoline up with it, since a good majority of "gasoline" sold today is around 10 percent ethanol. The average price of a gallon of gas today is $2.30, according to FactSet data, but this has varied since the beginning of 2014. Despite the recent surge, ethanol prices have also proved to be rather volatile with reports of it dropping 8 percent this past Thursday after falling 10 percent just the day before.

Redesigned Ford Focus expected to get 40 mpg on the highway

The redesigned 2012 Ford Focus will get an estimated 40 mpg in highway driving with an all-aluminum 2.0-liter engine mated to a six-speed, dual-dry-clutch automatic transmission. The normally aspirated engine combines variable camshaft timing and high-pressure direct fuel injection to crank out 160 hp and 146 lb-ft of torque. That compares with 140 hp and 136 lb-ft from the aluminum 2.0-liter engine used in the current-generation Focus.