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BMW Megacity Vehicle (MCV)

BMW's Project i – an internal codename for a possible sub-brand dedicated to green urban driving – has been in the works for some time. The Vision EfficientDynamics concept, unveiled at the 2009 Frankfurt Show, showcased some of the lightweight technological advances and design thinking behind the forthcoming zero-emission cars. Recently the firm held a Project i event, where it released teaser sketches of the first vehicle to result from the project, the Megacity Vehicle (MCV) – a four-seater electric car with a rear-mounted engine and rear wheel drive.

Jaguar Land Rover – Clever Finance Deal

JLR releases £170 million by financing cars in transit Car makers have been begging lines of credit from wherever they can in the last year as the recession has bitten hard in to their finances. Jaguar Land Rover started off down the Government Loan route, but it soon became clear that the strings attached to any Government sourced finance where unacceptable. But in a sign that the future of JLR looks pretty rosy JLR managed to secure £175 million in private financing back in August as part of a bid to raise £500 million, and Tata have refinanced the loans used to acquire JLR.

Petrol price hits three-year low

THE PRICE OF FUEL at the pumps has fallen to a three-year low, according to AA figures. As of yesterday, the UK average petrol price was 129.12p a litre - the lowest since February 23 2011 - while the average diesel price was 133.55p a litre, the lowest since February 6 2011. AA public affairs head Paul Watters said: "Asda triggered something of a supermarket price war on Tuesday, which was enough to send average UK pump prices to their lowest for more than three years.