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Hyundai, Kia Pay US$100M for inflated mileage claim

November 9, 2014

After a two-year investigation into inaccurate gas mileage claims by Hyundai and Kia, both South Korean automakers have been ordered to pay a US$100 million civil penalty – US$56.8 million from Hyundai, US$43.2 million from Kia – to the US government. This should be the start of a series of settlements for car companies who overstate the efficiency of their cars – and many of them do – to comply with emissions standards, yet the EPA has not revealed whether it is also investigating other car companies.

Hamilton closer to title after US GP

November 3, 2014

Flags bearing Lewis Hamilton’s name were waved in the grandstands in Austin, just outside of Texas, and the Brit didn’t disappoint. Hamilton caught teammate Nico Rosberg unaware, diving up on the inside on lap 24 and taking over the lead.

Formula 1 – an unfair competition?

November 3, 2014

Only four days after Caterham entered administration, Marussia followed in its rival’s tyre tracks last Monday. The absence of both teams from the United States GP is an apparent sign of an imminent crisis for the F1 sport.

Will the Iriz save Proton?

November 3, 2014

Proton launched the Iriz last Thursday in a bid to reclaim market share from the other domestic carmaker, Perodua, and help the ailing national automaker get back on its feet. The Iriz, a compact car with a 1.3-litre or 1.6-litre engine, took four years and US$172 million to develop, and Proton’s Chief Executive, Abdul Harith Abdullah, has touted the Iriz as a “game changer”. During the launch at the company’s plant in Perak, Abdul Harith said, “We will continue to forge ahead to restore Proton’s glory days as the leader of the industry.”

Ferrari’s prancing horse in a spin-off

October 31, 2014

Fiat Chrysler Automobiles (FCA) has announced that it is going to do what Chief Executive Sergio Marchionne has been trying to resist, and that is to spin off its Ferrari sports car brand as part of a scheme for the company to raise a whopping US$2.5 billion to help fund its very ambitious business plan. Marchionne had been resisting a listing of Ferrari for many years, but in an interview early this month, he signaled a change of heart when he described Ferrari as a “phenomenal carrot” for US investors.