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Lamborghini Gallardo LP550-2 Valentino Balboni (2009)

By Ben Pulman First Official Pictures 01 July 2009 10:00 Lamborghini has unveiled the limited edition Gallardo LP550-2 Valentino Balboni, a new entry-level model, and its first rear-wheel drive supercar since the Diablo. The Italian supercar company has long promised that all its cars will resolutely remain four-wheel drive, but it’s building the two-wheel drive LP550-2 (hence the name) to celebrate its legendary test driver Valentino Balboni. Just 250 will be built.

Saab sees another production hiccup

Saab, trying to recover from a production shutdown for most of April and May, hit another snag on Tuesday as the company said it had to halt production again because of a supply disruption. The latest issue is expected to be resolved on Wednesday, the company said. "We will start tomorrow again," Saab spokesman Eric Geers said on Tuesday.

Jaguar CUV, entry-level sedan on the horizon

UPDATED: Jaguar Land Rover has submitted two trademark applications to the U.S. Patent and Trademark Office, a potential clue to the luxury brand's 2015 product plans. Reports from Edmunds.com and others state that the "XQ" and "Q-Type" names could be used on an all-wheel-drive crossover and new sub-$40,000 sedan for 2015.