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Ford cuts CEO's compensation 37%

Ford Motor Co. CEO Alan Mulally earned $13.57 million in total compensation in 2008, a 37 percent decline, as the automaker avoided seeking a federal bailout while posting a record loss. Mulally will take an additional 30 percent cut in salary this year and next as he battles a global financial crisis and the worst U.S.

Bugatti Veyron Grand Sport – Production starts

Production has now started on the Bugatti Veyron Grand Sport But that looks set to pick up with the latest Veyron, the Grand Sport, which has commenced production at the Bugatti factory in Molsheim this week. And to celebrate that fact, Bugatti has had a bit of a get together of Veyron owners to play with pre-production cars in Cannes this weekend, which also gives them the excuse to release some new images of the Grand Sport. Apart from Limited Edition Veyrons (like the Veyron Bleu Centenaire or the Veyron L’Edition Centenaire) the Veyron Grand Sport will be the mainstay of production from now on.

Americans plan to keep their cars longer, AutoPacific study finds

In another chilling sign that auto sales are likely to remain stalled, a new study finds that Americans intend to keep their cars longer, indicating a general concern about the industry and the overall economy. The number of new-car buyers planning to keep their rides more than four years has risen to 59 percent, according to a study released Tuesday by California marketing research firm AutoPacific. That's an increase from last year, when about 45 percent of new buyers intended to wait more than four years for their next purchase, and it's up from 2005's tally of 46 percent.