Finally, someone has come up with the solution of reducing the parking space required instead of increasing it to fulfill demand. The Korea Advanced Institute of Science and Technology proudly showed off the Armadillo-T, a shrinking car that can fold into itself, just like the eponymous animal.
Berjaya Philippines Inc, owned by Malaysian billionaire Vincent Tan, has made an offer of 130 pound share or GBP23.4 million to purchase the entire issue of London listed, HR Owen Plc. HR Owen is Britain’s largest luxury car dealer of, among others, Ferrari, Lamborghini, Bentley and Rolls Royce. Berjaya Phillipines presently holds a 29.81% interest in the luxury car company.
Indonesia, being the largest economy in South East Asia and having a voracious domestic demand, has global car manufacturers clamouring for a piece of the pie. More than a million cars were sold in 2012 and the tally for 2013 is expected to exceed that already gargantuan number. In the first five months of the year, car sales had already reached 497,670 vehicles.