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Porsche Cayenne and Panamera production temporarily stops

Porsche stopped production today at its assembly plant in Leipzig, Germany, after floods in the region disrupted supplies. The factory builds the Cayenne SUV and Panamera sedan for global markets, including the United States. Porsche told workers on today's early shift not to come into work after floods in the Czech Republic halted supply of Cayenne bodies.

Stop buying new cars says government adviser

People should stop buying new cars and drive their old ones until they’re beyond repair, says a top government adviser. This news, reported by the Daily Telegraph, comes a day after we reported that new cars sales figures have hit a six-year high. On Bing: see pictures of scrap cars Find out how much a car over 10-years-old costs on Auto Trader Chief scientific adviser to the government’s energy department, David MacKay, said “car manufacturers love us to buy a new car every few years” and that Britain needs to end its throw away culture.

Chrysler Financial gets $1.5 billion federal loan

The U.S. Treasury Department said today it will lend $1.5 billion to a new arm of Chrysler Financial Services LLC so that it can increase lending to vehicle buyers. The five-year loan carries a flexible interest rate.