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BMW and Toyota announce diesel-engine, green-technology tie-up

BMW and Toyota Motor Corp. said they will work together on green car technologies including the joint development of lithium-ion batteries. BMW will also supply diesel engines to Toyota in Europe as part of the tie-up.

McLaren 12C Spider sells out in 2 hours at Neiman Marcus

The Christmas car for 2012 from US retailer Neimann Marcus – the new McLaren 12C Spider – sold out in just two hours. And it didn’t take long for the 12C Spider to sell out when it went on sale this week, with all 12 cars snapped up in just two hours – all $4.25 million dollars worth. Neiman Marcus were offering their 12C Spiders at a premium of $85k over McLaren’s US list price for the 12C Spider of $269k, but they were throwing in flights to the UK to have dinner with McLaren’s Ron Dennis and a set of custom luggage.

Jaguar Land Rover reveals huge profits growth

Jaguar Land Rover has reported half-year profits have broken the £1 billion barrier, with profit before tax of £1.083 billion marking a massive 42% year-on-year increase. Profits in the last three months alone were £668 million, said the firm. MORE new British jobs for Jaguar Land Rover Range Rover: why it is already battling Bentley The strong results are thanks to continued sales growth for the two British luxury car brands: sales over the past three months increases 21% to 102,644 cars – beating even the half-year sales rise of 16% to just over 197,000 vehicles.