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House narrowly passes scaled-back 'cash-for-clunkers' bill

The U.S. House on Tuesday narrowly passed a scaled-back version of a bill that would give consumers cash vouchers of between $3,500 and $4,500 if they trade in their cars for newer, more fuel-efficient vehicles. The $1 billion cash-for-guzzlers proposal, modeled after successful programs in Germany and other European countries, is part of a $106 billion supplemental spending measure designed mostly to fund the wars in Iraq and Afghanistan.

Aston Martin to continue with V12 engine as well as new Mercedes AMG V8

Aston’s Flagship cars, like the Vanquish (pictured) will still offer the V12 engine Aston Martin has certainly been looking to the future with renewed optimism over the last year as a series of deals gave them a lifeline to remain competitive in an increasingly corporate car world. Extra funding came in thanks to the involvement of Investindustrial’s new stake in Aston Martin, and a deal has been done with Mercedes AMG to supply new V8 engines and electronic architecture. Not only that, but Aston Martin are developing a new platform for their future range of cars, with the biggest investment in Aston Martin’s history.

Cadillac XTS to use modified Buick LaCrosse underpinnings

Cadillac's next flagship sedan, the XTS, will borrow its underpinnings from the Buick LaCrosse. The XTS is the code name for the car due in 2011, and it's a two-for-one proposition. The XTS will replace the front-wheel drive DTS and the rear-wheel STS, Automotive News reports.