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Spyker, Youngman agree on joint venture

Dutch supercar maker Spyker and the Chinese Youngman Group have agreed on a joint venture to build a new super sport utility vehicle and a group of sedans based on Saab's Phoenix platform. The SUV is scheduled to hit the market by the end of 2014, while no dates for the Phoenix-based sedan were announced. Youngman will invest 10 million euros in Spyker, 7 million of which will be for stock shares constituting 29.9 percent of the supercar company.

Volkswagen chief: No. 1 in the world by 2018

Volkswagen chairman Martin Winterkorn reaffirmed his company's ambitious and audacious goals on Wednesday night on the eve of the Paris motor show: pass Toyota and General Motors for the title of world's largest automaker in 2018. Winterkorn was the final speaker after an event that featured unveilings from each of the German conglomerate's brands. He said his company wants to record total sales of 10 million in eight years, which would vault it pass the current levels of global leaders Toyota and GM.

Alarming number of drivers lack road sign knowledge

A THIRD OF DRIVERS in the UK do not know even the most basic road signs such as the National Speed Limit and Slippery Road warnings. This is the finding of a survey by More Than, which found that 34% of drivers in the UK did not know what the National Speed Limit sign was. The Slippery Road sign was misunderstood by one in seven drivers as meaning ‘paint on the road.’ With research conducted alongside 29 police forces, the survey found 20% of UK drivers had received penalty points for speeding in the past 10 years.