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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.

Spyker production starts at CPP

Councillor Ken Taylor (leader Coventry City Council), Brendan O’Toole and Victor Muller. Actually, even without the caption, we reckon you could have worked out who's who. A few months ago we reported that Spyker were moving production of their cars to the UK, in to the very capable hands of CPP Manufacturing, a Coventry-based specialist company already responsible for making most of what goes in to a Spyker.

Audi working with Mazda on Wankel for A1 e-Tron?

The Audi A1 e-Tron could be getting a Mazda Wankel Last year at the Geneva Motor Show, Audi showed us another in its seemingly endless line of fantasy e-Tron cars. But instead of being a pointless supercar with a pile of batteries bolted underneath to wreck the handling with all their weight – for the three feet you can actually drive with your foot to the floor before you run out of juice – this e-Tron was a different beast altogether. Not only was the Geneva 2010 e-Tron a properly sensible city car – the Audi A1 - but it came with a range extender so you could actually use this Audi A1 e-Tron beyond the confines of its electric charge.