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Audi investing $30.3 billion through 2018 for product expansion

How does Audi plan to reach two million units in annual sales and pay for the 11 new models it's adding to its lineup - an expansion that may include models named SQ2, Q9 and F-Tron? By increasing its investment to 22 billion euros ($30.3 billion US) between now and 2018. That figure represents an increase of about 500 million euros over the previously planned outlay, according to a report by Automotive News, and that could be due to Audi wishing to goad the momentum that pushed it to 1.5 million annual sales two years ahead of schedule.
It's also about staving off the challenges from BMW and Mercedes-Benz. Now that BMW has been able to turn some of its attention away from its "i" series of Megacity cars, it will reportedly spend more than planned in 2014 as it continues the rollout of ten all-new vehicles and 15 new-generation vehicles through the end of next year. Mercedes, having been dropped to third in the sales race, is preparing to add 13 new cars over the next six years.
Audi's money is going into technology, into product like the next-generation TT and the Q1 and production expansions and upgrades all over the world. The expenditure represents just under a fourth of Volkswagen's 84.2 billion-euro ($115.7 US) outlay devoted to taking the number-one global automaker title away from General Motors and Toyota by 2018.

Toyota announces two recalls affecting 1M Corolla, Matrix and Lexus IS models

The recall bug strikes Toyota again. The automaker has issued a voluntary recall of three models that, in total, represent more than one million units. Around 752,000 2003-2004 Toyota Corolla and Matrix models are being recalled for airbag concerns, while a windshield wiper issue is causing the recall for close to 270,000 Lexus IS sedans from the 2006-2012 model years.
Completely unrelated to the small airbag-related recall issued earlier in the week, the Corolla and Matrix recall is caused by a faulty airbag control module that could potentially short circuit, which could lead to the front airbags or seat belt pretensioners deploying. The Lexus recall is due to a wiper arm nut that wasn't tightened properly, which can cause the wipers to not work when trying to clear heavy buildup such as snow.
Scroll down for a press release that includes more information, as well as details about how owners can contact the manufacturer directly.

Rod Millen to face Monster Tajima in Electric Division of Pikes Peak Hill Climb

The 91st running of the Pike's Peak International Hill Climb is scheduled to begin on June 30. Like last year's event, the 12.42 mile course - fully paved these days - starts at 9,390 feet elevation and doesn't stop climbing until it reaches an impressive 14,110 feet (the air is so thin up there that the FAA requires pilots to use oxygen at that altitude).
There will be an assortment of internal combustion machines racing to the summit, entries from France, Italy, Japan, Latvia, Sweden, Brazil, Canada, Great Britain, Hungary, Czech Republic, Poland and Belgium, but all eyes will be on the electric showdown between Rod Millen and Nobuhiro "Monster" Tajima, from Japan. 61-year-old Millen is a familiar name to Toyota racing fans, and he will be driving the Toyota TMG EV P002 (it won the Electric title last year), while Tajima will be again piloting the Monster Sport E-Runner (which was forced out of the field last year after a fire broke out).
Other entrants include Rhys Millen driving a 2013 Hyundai PM58OT and Paul Dallenbach, who will be driving Millen's Hyundai Genesis Coupe (it set the all-time speed mark last year).