No car recovery before 2011 (EU)

Renault, Nissan and Infiniti CEO, Carlos Ghosn has said he doesn’t expect a recovery for the European car market before 2011, unless the scrappage scheme is extended. The global economic turndown has badly dented European car sales and has led to several nations introducing the scrappage scheme.

Ghosn said: “I don't see it (a recovery) in Europe before 2011. I see 2010 at the same level of 2009, with ups and downs. “If scrapping incentives were to continue for a while, it would be a different story. Stopping the incentives would have a recessionary impact.”

Ghosn also said that he expected the U.S car market to recover sooner, possibly by the end of 2009.

2010 Skoda Fabia vRS details revealed

A senior Skoda executive has revealed the next Fabia vRS will only be available with a DSG gearbox and that a conventional manual will not be an option.

The eagerly awaited Fabia vRS follow-up will also be powered by a petrol engine and should boast 'upwards of 170bhp' said the insider. This means it should be substantially quicker than the old model and sprint to 60mph in less than 8 seconds and with a top speed of 140mph.

The decision to fit the DSG and not offer a conventional manual has been taken on performance and emissions grounds. The new Fabia vRS has also been confirmed to go on sale in June 2010 with prices expected to start at around £16,000.

First ever Bugatti Veyron for sale

The first ever production model of the Bugatti Veyron has been put up for sale. The Veyron is being sold at a dealership in Beverly Hills, California for $2.4m (£1.5m) and it reportedly has just 400 miles on the tachometer.

However, the owner is clearly looking to make money, as a new Veyron, of which only 300 will be produced, costs around £850,000. The low mileage should mean the Veyron, with its #001 production number, is in mint condition. The car has 987bhp and travels from 0-62mph in 2.46 seconds. Power comes for its 8.0-litre W16 engine, which can produce 922lb ft of torque.