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Avis buys Zipcar and grows car-sharing capabilities internationally

Zipcar, a car-sharing company that specializes in renting cars by the hour or day, announced Wednesday it will be acquired by Avis Budget for $491 million, or $12.25 a share. The action will help Avis compete against Hertz Global Holdings, which became the world's second largest car-rental company in 2012 following its purchase of Dollar Thrifty car-rental company for $2.6 billion, according to a Bloomberg report. “By combining with Zipcar, we will significantly increase our growth potential -- both in the U.S.

Tokyo Motor Show: Lexus LF-NX Concept

WHILE this striking LF-NX concept might have only made its debut a few months a go, for the Tokyo Motor Show Lexus has unveiled an updated version of its striking compact SUV. With its bold grille generating plenty of column inches, the premium Japanese car maker has decided to remodel the car’s nose slightly as it continues on its path towards eventual production status. Also new is the inclusion of a 2.0-litre turbo petrol engine, which is likely to feature alongside Lexus’ usual hybrid offering.

Jaguar Land Rover & Chery Automobile JV in China confirmed

Jaguar Land Rover & Chery Automobile get in to bed The long awaited news that  Jaguar Land Rover are to enter in to a joint venture with Chery Automobile in China has been confirmed. We’ve been talking about a joint venture in China between Jaguar Land Rover and Chery Automobile for more than a year, despite the (understandable) obfuscation from JLR on the issue. And now it’s been confirmed.