The new Vladimir Putin’s transport to cost more than $100 million

When it comes to choosing the car we are going to drive we might get a bit silly, because well, we all want to drive the best cars. But, what can we expect from a president who buys a car? Check out the entirely bespoke creation that will soon be the primary transport for the most important man in Russia- Vladimir Putin.

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This isn’t an existing car. It uses a 4.6-litre turbocharged Porsche engine with 592bhp and 650lb ft of torque, but otherwise, it’s apparently an entirely bespoke project designed and specified by the Russian government in tandem with Porsche and Bosch. Stick that in your Cadillac truck-based pipe and smoke it, President Trump. The whole thing is rumored to have cost around £85 million to develop, although that cost covers the price of building other body styles, too. There’s said to be a range incoming, from a saloon to an MPV and even an SUV.

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Porsche’s head of powertrain development gets arrested

The German police have arrested the head of powertrain development at Volkswagen‘s Porschebusiness, Joerg Kerner. The arrest was related to ongoing inquiries into emissions manipulation, a person familiar with the matter said. Police are holding him on remand.

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The police are holding him on remand because he is considered a flight risk. The arrest of Joerg Kerner was related to ongoing inquiries into emissions manipulation at Volkswagen, more than two years after the German carmaker admitted cheating on U.S. exhaust tests.

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The 2019 Lexus ES previewed ahead Beijing Auto Show

Who else is waiting for the 2018 Beijing Auto Show? Well, we’ve got only a few more days until the show will be officially open. One of the models we would like to see there is the new Lexus ES.

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The previous versions of the ES were all distinctly different than their sibling, IS, GS and LS, boasting decidedly less premium design features. It was as though the ES was not worthy of the brand’s corporate look. That does not seem to be the case with the 2019 Lexus ES. This one seems to be a smaller version of the top dog LS luxury saloon.

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Houston Car Sales Climbed, Prices Fell in March

In the first quarter of 2018 new car sales grew by 12.6 percent over the last year as high consumer confidence and low unemployment favored Houston dealerships. Local car dealers sold 22.278 new cars in March, which is more by 6.4 percent over the last year.

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However, the average price for a new vehicle fell for the second month in a row to $37,217, which is less by $554 or 1.5 percent. Prices fell in all car categories, cars, trucks, and SUVs. Average prices fell because the market share for trucks and SUVs has fallen. Since SUVs and trucks cost more than sedans, a loss in market share translates to lower average prices.

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Ford Mustang Hybrid Coming in 2020

While Ford takes power to the extreme with its upcoming GT500, the carmaker wants to embrace the eco-friendly scene with its first hybrid Mustang, that is to debut at an unspecified time in 2020. This should help unlock Mustang’s potential in other global markets, too.

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Even if the hybrid will be more fuel efficient, this doesn’t mean that it’ll be boring; it will still cater to performance enthusiasts with V8 levels of power and even more torque. Ford is already looking ahead to its next-generation Mustang, already imagining more possible variants to maximize its appeal in 2020. They don’t go into detail, but they could consider options like all-wheel drive or even a fully electric version of the Mustang.

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Wells Fargo might pay $1 billion fine for loan abuses

The company which is about to set a record fine of $1 billion imposed by two U.S. regulators for its risk management business is none other than Wells Fargo & Co. Lask week the company got a proposal from U.S. Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC), to resolve probes into auto insurance and mortgage lending abuses at the third-largest U.S. bank.

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Wells has acknowledged that it charged customers for excessive auto insurance, a burdensome expense that caused some to see their cars repossessed after defaulting on loans. Wells Fargo declined to comment on the reported settlement. The bank, still smarting from a prolonged scandal in which bank employees created millions of fake bank accounts in customers’ names, found inconsistencies at its auto lending and mortgage in summer 2017, leading to further probes by regulators.

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