The old saying 'one man's junk is another man's treasure' couldn't be more true in the case of UK entrepreneur Peter Hobson and his vast collection of scrapped Land Rovers. Hobson runs a factory refurbishing old parts pulled from wrecked Land Rover SUVs and reselling them as spares.

"I've got the largest Land Rover parts store outside Land Rover," 60-year-old Hobson reveals about his store of spares, amassed over the last two decades. Some of the parts, like whole engines, cost upwards of £7,000 ($14,600) and then there are the complete cars. In all, Hobson estimates the value of his collection to be close to £25m ($50m).

So sought after is his services that he's even been hired by military groups around the world for the supply of armored vehicles. "I supply many armies around the world," Hobson boasts, with armies from Turkey, Jordan, Australia and a string of Middle-Eastern nations all listed as clients. Of course, Hobson's main client is the UK Ministry of Defence. It is a British company after all.

[Source: BBC]

Hybrid vehicles still don't make much sense for automakers. The cost of the technology is more than what consumers are willing to pay and in many cases the fuel-saving benefits can be achieved with a simple diesel motor (at least in Europe). Because of this, coming up with the right sticker price can be a major stumbling block. Price it too high and no one will want to buy your hybrid, but discount it too much and money will be lost on every model sold.

GM got into a spot of bother recently when alleged prices for its new full-size hybrids SUVs were released on its website last month. The problem was that the listed prices "were too low" according to GM spokesman Terry Rhadigan. The Chevy Tahoe 4-Door two-wheel drive hybrid was listed at $47,915 and the four-wheel drive was listed at $50,720. The GMC Yukon two-wheel drive hybrid came in at $48,370.

The 'correct' prices are scheduled to be announced next week, though Popular Mechanics already have the two listed as $49,270 for the Yukon Hybrid 2WD and $48,815 for the Tahoe Hybrid 2WD. If that's the case, then the prices accidentally released last month weren't off by all that much.

$49,270 and $48,815, respectively

[Source: The Detroit News]

Click above picture to view complete gallery

After all the excitement of official reveals had passed and car company execs had gone back to their hotels, the lovely models of the Tokyo Motor Show were always around to brighten up a background. This year's standouts from last week's show were the girls gracing the Ferrari and Maserati stands, but some of the models from the tire companies were also easier on the eyes than most. Check out the extensive photo gallery below to see all of the good looking girls from the show.

Click the above image for more of the i MIEV Sport

Mitsubishi's has given its cute and funky 'i' minicar a sporty makeover with a coupe-like shape and vents on the side to create the i MIEV Sport. Despite being the sports version, it uses the same electric plug-in technology found in the i MIEV, which means two in-wheel motors driving the front wheels, and one motor for the rear. The cab-forward design does make it look like a bubble car, but having navigated Tokyo's streets for the last few days we can totally see it fitting right in.

Click the above picture for more pictures of the Mitsubishi Concept-ZT

Mitsubishi's star at the show might have been the new Evo X, but the new Concept-ZT is the more important car as it previews the next-generation Galant, which is a big seller for the company. Styled like a large Lancer, the ZT features the same jet-fighter grille but is overall a more stylish and elegant vehicle. We particularly liked some of the small styling touches such as the side mirrors and detailed wheels. Under the hood is Mitsu's 2.2L diesel engine mated to a twin-clutch gearbox, which Mitsubishi seems to be introducing throughout their lineup.



Live Photos Copyright ©2007 Siddarth Raja / Weblogs, Inc.

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Click the above picture for more live shots of the Nissan GT-R

Forget about every other car you've read about at the 2007 Tokyo Motor Show. We were only here for one, the Nissan GT-R. Now that we've been seen the official specifications and the first batch of press photos, it's time to get up close and personal with this new Japanese supercar. While the rest of the global media was clamoring to get a decent shot of the sole GT-R officially on display at the show, Autoblog was given access to take photos of another GT-R hidden upstairs in an area usually reserved for VIPs. Enjoy these exclusive pictures and don't forget to check out our previous coverage on the GT-R. We're glad Godzilla's finally back.

All live photos ©2007 Siddharth Raja / Justin Gardiner / Weblogs, Inc.

Click the above image for more pictures of the BMW M3 Sedan

There hasn't been a BMW M3 sedan since the E36 generation, but that doesn't mean BMW has forgotten how to build a fast saloon car. The M3 Sedan takes everything good about the M3 coupe and adds two doors to the mix, allowing you to better justify the purchase with your significant other. BMW has thrown out the standard headlights on the sedan and replaced them with the lights found on the coupe, giving it a more sporting design in the process.The basic specs are all the same as the coupe, but you should check out our previous post on the M3 Sedan to find out more.

All live photos ©2007 Siddharth Raja / Weblogs, Inc.

Click above image to view live pics of the BMW tii concept

BMW's 1-Series tii concept was just revealed and we can now bring you live shots of this stunning coupe from the floor of the 2007 Tokyo Motor Show. The tii is based on the recently launched 1-Series coupe, but is a leaner, meaner, more hardcore version of the entry level Beemer. The enhanced bodykit and carbon fiber parts give it a purposeful stance that just exudes motorsport, as well as lowering the car's weight and making it aerodynamically sliippier. On the inside, we especially dig the white steering wheel and Alcantara trimmed interior. Click here for the original post on the tii, or check out the gallery below for pics of the car shot live.

All live photos ©2007 Siddharth Raja / Weblogs, Inc.

click above image to view more high-res images of the Audi A1 Concept

Audi's new city car concept might look OK in the official press images, but it looks even better in person with its imposing grille and sleek yet muscular lines. There's also a lot of attention paid to the details of the concept such as LED headlights, aluminum roof arches and those stunning rear lights. One detail the concept could do without, however, are those garish chrome wheels. The metroproject quattro doesn't look significantly smaller than the A3, but it's likely this show car is a little larger than the production model will be anyway.

Underneath, Audi has developed a hybrid drivetrain for the metroproject. A TSI (turbocharger + supercharger) engine drives the front wheels, while the electric motor sends all of its juice to the rear, making it a pseudo-AWD car. Also of note is the mobile electronic device that's embedded in its dash. It's basically Audi's version of an iPhone that actually does more than Apple's own Crackberry, including allowing the owners to access some of the car's systems remotely.

When we asked Audi CEO Rupert Stadler whether the production model would come to the U.S., he simply replied "Why not?", so there's a good chance we'll see this come Stateside at the A1 soon after it begins production in 2009.

Check out the full press release from Audi on the metroproject quattro concept after the jump and our complete gallery of official and live images from Tokyo below.

[Lead photo by Koichi Kamoshida/Getty Images]

All live photos ©2007 Siddharth Raja / Weblogs, Inc.

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click above image for more high-res pics of the VW up! space Concept

Volkswagen is looking to conquer the cheap car market with its new family of small cars, tentatively referred to as the up! cars. Having previously shown the first up! concept at the Frankfurt Motor Show, Volkswagen usedTokyo to devut the minivan version of the up!. Called the 'space up!' concept, it's 23cm longer than the previous three-door hatchback up!, has a longer wheelbase and is slightly taller. The larger dimensions and improved packaging help the space up! fit around "4.5m of legroom in a vehicle just 3.68m long", or at least that's what VW execs kept insisting at the press conference.

The concept also features suicide doors and can seat four people, including two children thanks to its built-in child seats. With the engine in the rear of the car, there's space in the front for stowing gear, as well as a handy tailgate in the back for more substantial equipment. Though the official shots don't do the design justice, in real life the concept is entirely plausible for production. Check out our live shots of the space up! in the gallery below.

All live photos ©2007 Siddharth Raja / Weblogs, Inc.