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Mercedes AMG has best year ever

With car sales plummeting in 2008 (and likely to be worse in 2009) there aren’t many bright spots around. But performance saloons are certainly one of them. As we reported back in December, BMW’s M Division had a cracking year, with sales of nearly 27,000 for the year.

FCA issues warning on logbook loans

VULNERABLE people who use their car as security to take out a loan are finding themselves squeezed even harder financially and even threatened, the City regulator has found. The Financial Conduct Authority warned it will put firms offering logbook loans out of action if they do not "dramatically" improve their standards, after finding evidence of poor behaviour including little or no affordability checks being carried out and some applicants being encouraged to manipulate details of their income. It said lenders are failing to properly spell out exactly how expensive such debts will be, with the true cost often masked by an emphasis on "low" weekly repayments and key terms and conditions buried in small print.

Fiat's Marchionne says he won't walk away from Chrysler deal

Fiat S.p.A. will not walk away from its plan to buy bankrupt Chrysler LLC, CEO Sergio Marchionne told Bloomberg after a U.S. court delay threw the deal into doubt.