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Forecasters see slow auto-sales recovery through 2011

U.S. auto sales in 2010 and 2011 will continue to crawl -- not walk or run -- out of last year's recession, according to forecasters at the Auto Industry Hot Topics Conference here. “It's going to be a long crawl out of this, but we're crawling in the right direction,” said David Wyss, chief economist for Standard & Poor's, which co-sponsored the conference along with J.D.

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.

2010 Lexus RX 350 gets $37,625 sticker

The redesigned 2010 Lexus RX 350 gets a sticker price of $37,625 for the front-drive model, and $39,025 for the all-wheel-drive model. The new RX goes on sale later this month. Lexus engineers have coaxed an additional 5 hp from the 3.5-liter V6, bringing the output to 275 hp.