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Avis buys Zipcar and grows car-sharing capabilities internationally

Zipcar, a car-sharing company that specializes in renting cars by the hour or day, announced Wednesday it will be acquired by Avis Budget for $491 million, or $12.25 a share. The action will help Avis compete against Hertz Global Holdings, which became the world's second largest car-rental company in 2012 following its purchase of Dollar Thrifty car-rental company for $2.6 billion, according to a Bloomberg report. “By combining with Zipcar, we will significantly increase our growth potential -- both in the U.S.

Concept Car of the Week: Volvo Tundra (1979)

With Volvo beginning a new chapter in its design history with the Concept Coupé, it's interesting to look back at another Volvo coupé concept from 1979 – the Tundra. At the time, the Swedish manufacturer built large and relatively pricey cars that were neither really luxurious nor real 'people cars'. The 340 series began the brand's expansion towards more affordable models and proved to be very successful worldwide.

Cadillac ATS (2012) compact exec unveiled at Detroit show

Cadillac took the wraps off the new compact Caddy, the ATS, at an event on the eve of the 2012 Detroit auto show. The new Cadillac ATS is essentially a BMW 3-series rival meeting all the design and engineering criteria of the larger Cadillacs. Cadillac ATS: what's new The ATS is like a baby CTS - the Art and Science design credo has been upheld, with sharp creases and pressed body surfacing to give it the Cady look.