KEY POINTS:
Families join forces
Two of New Zealand's wealthiest families have formed a joint venture to run South Korean carmaker Hyundai's New Zealand operation. The Spencer family - former owners of Caxton Paper Mills - and prominent automotive family the Giltraps have set up a new distributor, Hyundai Motors NZ. It takes over from Hyundai Automotive NZ, owned outright by the Giltrap Group. The new 50:50 company brings staff changes - former Hyundai marketing manager and Spencer family member Howard Spencer is now managing director. He replaces Phillip Eustace, who becomes executive director.
Auction a great success
Ferrari HQ in Italy wrapped up its auction of some of its most significant cars of the past 60 years with the sale for more than $13 million of the 1962 Ferrari 330 TRI/LM Testa Rossa (chassis 0808) that American Phil Hill and Belgian Oliver Gendebien drove to win the 1962 Le Mans race.
Brock's car restored
The car that late Australian race great Peter Brock built as a teenager has been restored. Brock's brother Lewis found the car in a shed on the farm soon after Peter was killed in a rally last September. The car was fashioned out of an old Austin 7. It had a timber floor, no roof, one seat, a 7.5kW four-cylinder engine - and no brakes. Brock used to stop by sliding it sideways.
Lighter cars the future
Aluminium company Alcoa believes the push for better fuel economy will force carmakers to use more lightweight materials in their vehicles. It says the amount of aluminium used in American cars climbed from 36kg in 1973 to 147kg last year. The world's first aluminium production car was the Audi A8 of 1994. Its aluminium panels were fastened to an aluminium spaceframe, or skeleton. Aluminium was also used in the suspension and other components. Audi continues with the technology today.
Recycled attire
A Russian fashion designer is making clothes from old tyres. Violetta Litvinova has teamed with German tyremaker Continental to make dresses, hats and scarves from recycled tyre cords. The cord is made from either cotton, rayon, nylon or polyester. It is twisted to form a fabric and coated with rubber.
Kia secrets leaked
South Korean carmaker Kia is to beef up security after seven current and former employees allegedly leaked technology secrets to China. They have been charged with violating laws that protect business secrets and guard against unfair competition. Five of the seven worked at an automotive consulting firm in Seoul. Prosecutors claim they leaked the secrets to a Chinese carmaker in return for $300,000.
We are the world
Motorists in Britain can rent out their driveway, carport or garage to drivers looking for a place to park, thanks to internet entrepreneur Anthony Eskinazi. The 23-year-old is behind ParkAtMyHouse.com where motorists can book regular or one-off parking spots online.
