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Caterham – including Caterham F1 – up for sale for £350 million

Will the Caterham AeroSeven Concept (pictured) be a casualty of Caterham’s impending sale? Caterham’s foray in to F1 hasn’t been much of a success, with not a single point on the F1 board since they arrived in 2010 as Lotus Racing (although Marcus Ericsson was just one place off a point at Monaco yesterday). Now, after warning back in January that he would walk away from F1 if the Caterham team’s performance on track didn’t improve, it looks like Fernandes is ready to walk away from Caterham altogether.

Cash-for-clunkers deal to end Monday night, government says

The Obama administration plans to cut off dealer funding for the cash-for-clunkers program on Monday at 8 p.m. Eastern, after finding that the $3 billion fund is nearing depletion, Transportation Secretary Ray LaHood said. "The overriding objective was to be conservative and to provide an adequate window for a soft landing," a senior administration official said in a conference call with reporters Thursday.

Mercedes AMG engine guru to join VW

The man credited with development of Mercedes-Benz AMG's latest line of high performance gasoline engines, Friedrich Eichler, has been lured to the Volkswagen Group, where he will take up an as yet unspecified position this summer, sources with knowledge of the move tell Autoweek. Eichler, who joined AMG after working his way up through the ranks at Porsche, was instrumental in the development of AMG's naturally aspirated 6.2-liter V8, twin-turbocharged and naturally aspirated 5.5-liter V8 and twin-turbocharged 6.0-liter V12 that powers the Pagani Huayra. Friedrich Eichler also developed turbocharged four-cylinder engines for upcoming Mercedes AMG cars.