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Nissan to slash jobs, production after forecasting $2.9 billion loss

Reversing his profit forecast to a loss, Nissan Motor Co. CEO Carlos Ghosn entered crisis mode on Monday. Ghosn announced plans to slash 20,000 jobs, cut production by 20 percent, scale back model launches and delay new factories.

Climax Sports Racer revealed

The £92,000 Climax Sports Racer British firm Climax has revealed it’s readying a road-going race-car to rival others in the niche like the Ariel Atom and the Caparo T1. Imaginatively named The Climax Sport Racer the new car gets powered by a Ford 4.6 V8 developing 345bhp with a supercharged version offering 415bhp. All that grunt is driven through the rear wheels by a 6-speed Graziano GT ME1 gearbox.

Cadillac CTS

By Ben Oliver Motor Shows 09 January 2007 04:39 New CTS: no mistaking this for anything other than a Cadillac The all-new CTS compact exec saloon is Caddy's big news from the Detroit show, and they were never going to muck about with a distinctive design direction that has won them praise and younger customers since it began in 2001. The new CTS exaggerates it further with yet-more vertical lamps and grille, plus plenty of bling, using chrome for the air vents, window surrounds, the three-inch exhaust tips and 18-inch rims. No high-performance V version of the new car has been announced yet, but until it arrives the range will be led by a new direct-injection, 3.6-litre V6 with variable valve timing putting out 300bhp and 270lb ft.