Auto Industry, Cars | featured news

Barack Obama will use a visit to a Chicago-area lab on Friday to call on Congress to set aside $2bn over the next decade to fund research into a next generation of electric cars. The White House said the Energy Security Trust, which Obama first proposed in his state of the union address, would use royalties from offshore oil and gas drilling in public waters and would not add to the deficit.

German carmaker BMW says 2012 was the best year in its history after it posted a rise in profits and record revenues.

This week in Geneva while Ferrari joined the hybrid race with McLaren and Porsche, Lamborghini unveiled its latest prototype, the $3.9 million Veneno. The 750-horsepower car is a one-off model made to coincide with the company’s 50th anniversary. Its multi-million-dollar price tag makes it one of the most expensive cars ever made, putting it in the same echelon as the $2.4 million Bugatti Veyron and the $1 million McLaren F1.

Cars will soon be so linked into wireless networks they will be like giant rolling smartphones — with calling systems, streaming video, cameras and apps capable of harnessing the unprecedented trove of data vehicles will produce about themselves and the humans who drive them.

...There’s little doubt that motorists want more connectivity, despite the worrisome traffic statistics. But many experts are betting that so-called connected car technologies can be put to work reducing the number of accidents, injuries and deaths on America’s roadways.

Lexus, Porsche and Lincoln are the best performers in an annual survey of vehicle dependability.

Ford is joining with Diamler and Renault-Nissan to speed the development of cars that run on hydrogen. The three companies expect their alliance to bring affordable hydrogen fuel cell vehicles to market as early as 2017. Fuel cell vehicles run on electricity generated from hydrogen and oxygen. The only byproduct is water.

Several of India's car makers reported a drop or a modest increase in sales for December, despite year-end discounts and the recent introduction of new models.

General Motors' Chevrolet Volt plug-in hybrid car topped Consumer Reports' annual owner-satisfaction survey for the second straight year. Ninety-two percent of Volt owners surveyed said they would definitely buy the Volt again.

In a remarkable turnaround, Toyota is likely to set a record for auto sales this year. It has focused much effort on the U.S., refreshing its lineup and expanding its manufacturing in the country.