McLaren to announce more details of MP4-12C supercar
The automotive world has known most of the details on the McLaren MP4-12C for a long time. McLaren has given details about the car through videos as well that have documented the car’s development process.
McLaren Automotive on Thursday will announce more details of it’s under production MP4-12C supercar.
MP4-12C supercar is expected to be lighter and more environmental friendly than most of its rivals such as the Ferrari 458 Italia.
Ginetta announces acquisition of Farbio Sports Cars
Leeds-based marquee Ginetta has announced that it had acquired Bath-based sport car-maker Farbio, in a deal that will help Ginetta to advance further in the global motorsport industry.
Lawrence Tomlinson, the chairman of Ginetta, had acquired the company in 2005, the same year when Farbio was established by a former racing driver Chris Marsh.
Farbio presents lightweight super car Farbio GTS and its improved models viz. Farbio GTS350 and Farbio GTS400.
Mandelson Announces £270 Million Loan to GM, Saves 32,000 Jobs
Business Secretary of the State Lord Mandelson gave way to deal between General Motors and Vauxhall providing an amount of £270 million, in an attempt to save more than 32000 jobs.
"I always said the Government would stand four-square behind Vauxhall and, with this announcement, we have kept our word", he said.
Following the deal the operations of Vauxhall in Britain will continue and no more job cuts would be seen.
Details of facelifted Maybach leaked
Leaked details of the facelifted Maybach have revealed that car’s facelift has been limited to mainly visual upgrades.
The upgraded Maybach will come with LED daytime running lights, new front bumper and redesigned grille and hood. The vehicle is also expected to come with more aggressive lower air intake area.
The engines of the Maybach have been upgraded to fit with Euro V standards, but their power output has been left untouched.
Volvo’s re-designed S60
Next-generation mid-sized Volvo S60 has been unveiled at the Geneva Motor Show.
The Volvo S60, which is a replacement for the original S60 that was launched in 2000, has new steering column created from solid steel that provides more precise steering.
The new car is equipped with stiffer bushings than the S80. Its re-engineered front struts resist cornering forces in a better way.
Original S60, which hit the roads in 2000, had gained some attraction in the beginning but later on lost that attraction too.
BAE cuts stake in Saab venture to half
British defense firm BAE Systems PLC announced on Friday that it had sold half of its 20.5 per cent stake in Swedish defense group Saab to Investor AB in a deal worth 1.066 billion kronor (equivalent to £120 million).
The deal, which is a part of BAE's divestment process, will convert London-based BAE's voting A-shares into non-voting B-shares, while after the sale Investor AB's voting rights in Saab have increased to 39.5 per cent.
New car sales jump 26.4% in February
New car sales in the UK jumped year-n-year 26.4 per cent in February owing to Government's car scrappage scheme, the Society of Motor Manufacturers & Traders said.
As many as 68,686 new cars were sold last month and car scrappage scheme accounted for around 20 per cent of the new car sales. It was the eighth consecutive month when new car sales surged in the UK.
Sales to private buyers jumped year-on-year around 70 per cent to 30,798 in February. Ford's two models viz. Fiesta and Focus were in great demand, with more than 3,000 of each were sold.
Mitsubishi to invest £100m in UK wind turbine research
Japanese engineering giant Mitsubishi has announced that it would invest 100 million pounds in UK's offshore wind turbine research, in a move that will provide work for 200 skilled people by 2014.
Under the plans, Mitsubishi Power Systems Europe will build a prototype turbine within three years, while full-scale production will be started after four years.
The establishment of the factory, which will build extra-large turbine for offshore use, will create as many as 1,500 jobs.
Wolseley Registers Advance Profits
After more than two years of turmoil, Wolseley shared the good news that it was achieving better than expected cost efficiencies.
The trading profits of the company are expected to be ahead of the consensus forecast of £326m, as the shares raised 12.5pc to £16.30.
As restructuring costs have grown unexceptionally, Wolseley's pre-exceptional profits have increased.
Wolseley expects higher profits; shares jump
Shares in Wolseley jumped on Tuesday after the British building materials firm announced that its profits for the fiscal year would be well ahead of market expectations of 326 million pounds.
Shares in Wolseley were trading at 1619 pence-a-share, up 170 pence or 11.7 per cent at 1000 GMT.
Wolseley, which operates in Europe and North America, said better-than-expected cost efficiencies would help it in beating analysts’ projections.
Sales of luxury cars in Britain are recovering: Pendragon
Pendragon, the biggest car dealer in Britain, has said that sales of premium cars in the country are recovering, helped by government's "cash for bangers" scrappage scheme.
Pendragon, which sells new as well as second-hand luxury cars such as BMWs, Land Rovers, Jaguars, Audis and Maseratis through its Stratstone dealership, reported a pre-tax profit of £1.3 million for the period of 12 months to December 31 as compared with a loss of £194 million in the previous year.
Wolseley’s Share Jumps Up By 11%
It has been reported that the shares of Wolseley had surged by more than 11 per cent which actually made this rise the biggest ever in FTSE 100 for the time being. It is an interesting fact that this leap is due to the profit warning which was quite a surprise and the most surprising thing was that it turned out to be positive instead of being negative.
UK Pension Liabilities With Deutsche Bank Laid off by BMW
BMW, the German automobiles manufacturer, has reportedly offloaded a whopping 3 Billion Pounds ($4.6 Billion) worth of longevity risk of its UK pension scheme to Deutsche Bank, in a move which marks the largest ever longevity insurance transaction undertaken till date.
The deal was carried out by the German bank's insurance subsidiary Abbey Life, which was structured in association with Paternoste, the British specialist pension insurer, in which Deutsche is a shareholder, in order to cover the pension scheme liabilities related to about 60,000 pensioners.
Fuel-cell and Plug-in-hybrid F800 by Mercedes-Benz for Green Future
A research vehicle is set to enter the markets with an aim of green environment by Mercedes-Benz equipped with plug-in hybrid configuration and hydrogen fuel cell. This will be introduced at the Geneva Motor Show next month showcasing metal-sheet and new driver technologies.
UK car production jumps 64.8% in January
Car production in Britain climbed year-on-year 64.8 per cent in January, the biggest rise in more than 30 years.
Figures released by the Society of Motor Manufacturers & Traders revealed that the production of commercial vehicles jumped 9.6 per cent in January as compared with the year ago period.
Last month, a total of 101,109 vehicles were produced in Britain. This was a sharp rise in production when compared with the year earlier period, when the industry was deeply entangled in recession.
Bentley Beauty, ’Supersports Convertible’ Ready to Roll by 2012
Bentley has strengthened their supercar range with the new, Bentley Supersports Convertible, the fastest four seater convertible supercar ever built.
The Continental Supersports Convertible is the company's fastest drop-top yet, with a 0-62mph time of 4.2 seconds, a 0-100mph time of 9.6 seconds and a top speed of 202mph.
Thanks to its 621bhp twin-turbocharged six-liter engine, the muscular Supersports Convertible is capable of running on both petrol and E85 bioethanol and any combination of the two.
Honda's Mugen Limited to Run of 200 Cars
Honda has officially announced a new, limited-edition version of its popular Civic Type R. The launch of the new vehicle will coincide with the company's entry in the 2010 British Touring Car Championship.
The Civic Type R Mugen 200 boasts an exterior which is white, adorned with black mirrors, a look that will also be shared by the race team.
As has been suggested by the name, the special-edition car will be limited to a run of 200 vehicles.
Pricing of the Countryman MINI Revealed by BMW
Pricing details of the fourth MINI model of BMW, the Countryman has been revealed.
Besides a wheel drive version called the ALL4, the MINI Cooper S Countryman and the MINI Cooper D Countryman are also available to the buyers who can choose between three petrol and two diesel engines.
Toyota fixes fewer than 5% of recalled vehicles: AutoNation Inc’s CEO
United States’ leading auto dealership group AutoNation Inc’s CEO Mike Jackson has said that Toyota Motor Co. could fix problems in less than 5 per cent of the millions of recalled vehicles in the country.
Mr. Jackson added that Toyota’s chief rivals such as Ford Motor Co. and General Motors Co. are attracting more customers as recent recalls tarnished Toyota’s image.
Speaking on the topic, Mr. Jackson said, "This will be the moment for Ford and General Motors to stabilize their market share.”
More Than 14m Motorists in UK Unhappy with Garage Services
A recent survey conducted by Motor Codes reveals that more than 14 million motorists are unsatisfied with the standard of service they receive from their local garage.
The survey calculated that more than 45% of them believe they have been ripped off.
As a move to reduce the number of complaints about the shoddy repair works the car industry regulatory group, Motor Codes, has launched a national competition to find the best garages.
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UK News
- British Airways Strike Makes a “Good Start”, Enters its Second Day
- Lloyds may show a profit of 1 billion pounds this year
- Supermarket's Cancer Campaign to Raise £5 million
- President of Barclays Capital gets a pay package worth $90 million
- Strike by the cabin crew of British Airways may prove to be costly
