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Porsche CEO likely to bow to pressure to leave, report says

Porsche CEO Wendelin Wiedeking is likely to bow to pressure from the Porsche family to step down, a German newspaper report said on Wednesday. Business daily Handelsblatt said that the two parties had already reached agreement that the chief executive should go and that a formal decision could come by Thursday, when the company's supervisory board meets. The newspaper also said, however, that Wiedeking would fight to keep his job.

BMW works hard to avoid gas-guzzler tax

BMW AG hopes to get out from under the gas-guzzler taxes that are tacked on to the sticker prices of some of its high-performance models in the United States. Jim O'Donnell, president of BMW of North America, says the company is studying fuel-efficiency improvements that could eliminate the gas-guzzler taxes on its vehicles as early as the launch of their redesigns in the next few years. The 2010 550i GT incurs a $1,000 gas-guzzler fee, for example.

Fiat finishes buying Chrysler

The Chrysler Group is now wholly owned by Italian carmaker Fiat. The company announced on Jan. 1 that it made a $4.35 billion deal to acquire full control of the Pentastar.