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News watch December 2012: today's auto industry news
Mon, 31 Dec 2012Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Monday 31 December 2012• Despite reports earlier this month that shareholders valued Mercedes-Benz at half that of its luxury rival BMW, Mercedes CEO Dieter Zetsche has remained bullish about his ambitious targets for the carmaker's growth. 'I am confident that we will be ahead of our rivals by 2020 at the latest,' he told German newspaper Boersen-Zeitung in an interview.
£2m McLaren P1 GTR for Pebble Beach
Mon, 28 Jul 2014McLaren McLaren will show its new P1 GTR – pictured here for the first time in an official teaser shot above – at the Pebble Beach Concours d’Elegance car show next month. The P1 GTR will feature a number of circuit-biased modifications – including a 1,000hp engine – and will cost £1.98 million. McLaren P1 GTR: track-focused modifications The GTR is based on McLaren’s P1 hybrid hypercar, itself designed not to be the fastest, but the most focused, involving and advanced driver’s car there is.
Wiedeking to be offered $140 million to quit Porsche, report says
Fri, 17 Jul 2009Porsche CEO Wendelin Wiedeking could be offered a $141 million (100 million euros) payoff to quit the sports car maker to make way for a merger with Volkswagen, Germany's Sueddeutsche Zeitung newspaper reported Friday. The newspaper said Wiedeking has been visited by Porsche Chairman Wolfgang Porsche in the past few days, who “made it clear” that the embattled CEO should step down. Wiedeking has come under fire for allowing Porsche's holding company to amass debts of more than $12.7 billion (9 billion euros) during a failed attempt to take over VW.