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McLaren turns the corner, posts first profits

By Tim Pollard Motor Industry 04 June 2014 10:48 McLaren Automotive today announced it had broken even for the first time in its brief three-year history, posting a £4.5 million pre-tax profit in 2013. It's great news for the young supercar brand, which until now has lost money every year. McLaren's turnover was £285m, up from £267 in 2012, as it increased production towards its long-term goal of 4000 cars a year.

Jail warning for drive ban killers

DISQUALIFIED drivers who kill while behind the wheel will face longer jail terms under tougher sentences announced by Justice Secretary Chris Grayling. Offenders who defy driving bans will be hit with up to 10 years in prison if they cause death and up to four years for serious injuries under the law reforms, which will be introduced next year. Mr Grayling said the changes would send a clear message to drivers who flout bans and "go on to destroy innocent lives".

Ford to cut Australian manufacturing in 2016

Ford Motor Co., saddled with high costs, falling sales and financial losses, will close Australian car and engine assembly plants in October 2016 after almost nine decades of manufacturing in the country. Ford, the smallest of the country's three manufacturers after Toyota Motor Corp. and General Motors, will shut its assembly plant in Broadmeadows in northern Melbourne and an engine plant in Geelong to the west of the city, Ford Australia CEO Bob Graziano said.