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Congress scales back tax break for car buyers

A proposed tax break for new-vehicle buyers is dramatically scaled back in the final version of the economic stimulus bill. Auto dealers and their allies had sought to make interest on auto loans and the sales and excise taxes on new-vehicle purchases deductible from federal taxes. Proponents say those measures are needed to boost showroom traffic and sales.

Mitsubishi considers a Lancer Evo hybrid

Mitsubishi is working on a green overhaul of its turbocharged all-wheel-drive Lancer Evolution so the gas-guzzling sedan won't go extinct. The new vision for the performance car is an gasoline-electric hybrid with in-wheel motors, Mitsubishi Motors Corp. President Osamu Masuko says.

Damon Hill’s bid to close P1 'unsuccessful'

By Tim Pollard Motor Industry 20 March 2009 16:04 Damon Hill’s bid to wind up the P1 supercar club in the High Courts of Justice has been rejected – for now. The former F1 world champion is pursuing money owed to him and issued a petition to close down P1 to pay the debt. But Hill’s co-founder of P1 International, and current chief executive officer, Michael Breen told CAR Online that the petition to wind up his business had been unsuccessful.