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Caterham sells F1 team

Caterham The Caterham Formula 1 team has been sold to a consortium of Swiss and Middle-Eastern investors following a poor season so far in 2014. Rumours that Caterham would cut its losses have been rife, since team founder Tony Fernandes threatened to quit if things didn't improve this year. The team is currently bottom in the championship and Fernandes hinted of an exit last week, when he tweeted “F1 hasn't worked, but love Caterham Cars.” Graham Macdonald, Caterham Group CEO: “Firstly I want to thank everyone who was involved in the F1 team for all their hard work and dedication since the team’s first days in 2009.

New fuel-economy labels will baffle buyers, survey says

A survey released this week suggests that revised fuel economy labels proposed by federal regulators will confuse many likely car buyers -- and will emphasize the wrong information. The branding strategy firm Siegel+Gale performed an independent online survey of 456 people over the age of 18 who intended to buy a car in the next three years. Founder Alan Siegel told Automotive News that the survey was not directly requested but has been sent to the EPA and National Highway Traffic Safety Administration during the ongoing public comment period.

McLaren celebrates 20th anniversary of the legendary McLaren F1

McLaren Automotive celebrated the 20th anniversary of the start of the F1 program by inviting F1 owners past and present to a celebration dinner at the McLaren Technology Centre in Woking, England. The owners were treated to a display of 21 McLaren F1 road and race cars, the largest number of F1 cars ever assembled in one place. It all started in 1988, when McLaren made the decision to expand from Formula One and design and build what it called "the finest sports car the world had ever seen." In March 1990, the team created to build that car came together for the first time.