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Schumacher's old F1 car sells for a bargain £195k

When can you ever call a £195,000 classic Formula One car a bargain? When it was driven by the most successful F1 driver ever, Michael Schumacher. This Benetton-Ford B191 was due to go up for auction with Coys this Saturday 10 August at the Nurburgring, but the car has now been sold ahead of going under the hammer for just £195,000.

Suzuki puts kibosh on Kizashi sedan, report says

Japanese automaker Suzuki has backed off plans to build large cars and build assembly plants overseas, according to a report in the Nikkei business newspaper. Suzuki has shown a series of concept vehicles named Kizashi that executives said were pointing toward a production version of a large sedan. And pictures of sedan protoypes have been captured by spy photographers.

Who's Where: Peter Schreyer appointed President of Kia Motors

Peter Schreyer has been been appointed President of Kia Motors after holding the position of Chief Design Officer since 2006. Schreyer is the first non-Korean to hold the position within the company and one of the highest-ranking designers in the history of the industry. Schreyer, who is now 59, moved from the VW Group to transform the historically 'dull-but-worthy' Kia product range into one of the strongest and most design-led in the industry through stand-out production cars such as the Picanto and Sportage as well as a diverse range of concepts from Pop to GT.