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Fisker goes to China's Wanxiang

China's Wanxiang Group won an auction for Fisker Automotive Holdings Inc., the maker of luxury plug-in hybrid cars, with a $149.2 million bid, almost six times what Fisker was seeking when it filed for bankruptcy. Wanxiang topped Hybrid Tech Holdings during the auction, which began on Wednesday and went through 19 rounds of bidding, with an offer that includes $126.2 million in cash and $8 million in assumed liabilities, Fisker said Friday in a statement. U.S.

New models to spur sales, J. D. Power says

A flood of new-model introductions this year will help pump sales volume for the industry, according to forecasts from J.D. Power and Associates. Automakers have scheduled 60 new or substantially redesigned model introductions this year, compared with just 36 in 2010, by Power's count.

Seat IBL concept

Seat has unveiled its new IBL saloon and sports coupe crossover concept car, announcing that it is the next evolution of its design DNA. While the exterior of the IBL is understated, much emphasis has been placed on the design of the interior. Technology within the car displays information in three programs – ‘Travel' for relaxed driving, ‘Sport' for concentrated driving or ‘Efficiency' for focused fuel-efficiency of the plug-in hybrid drive.