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Toyoda says company is ‘grasping for salvation', fears big sales loss

Toyota Motor Corp. President Akio Toyoda said his money-losing automaker is “grasping for salvation” as it struggles to return to profit. The world's largest car company was once targeting annual sales of 10 million vehicles but now expects sales of 7.3 million this year, down from 8.97 million in 2008, Toyoda said today at a news conference.

Skoda confirms prices for two new models

SKODA has announced prices for its two latest models; the Rapid Spaceback and the facelifted Yeti. The Spaceback, which is 180mm shorter and smaller of boot than the ‘notchback’ Rapid, is designed to be the brand’s long-awaited direct rival to the likes of the Ford Focus and Kia Cee’d. It will start from £14,340 on the road for the 1.2 TSI petrol S model with 85bhp.

Lamborghini 'their choice' says Webb

IT WILL be up to pensioners whether they spend their retirement pot on a Lamborghini, Pensions Minister Steve Webb said as he defended a relaxation of rules announced in the Budget. Critics have warned that allowing pensioners to draw down the cash rather than being forced to buy an annuity will result in some blowing the fund and relying solely on state help. The luxury Italian sport cars sell for six-figure sums.