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VW exec Jacoby reportedly heading to Volvo

Volkswagen of America said it is in talks with CEO Stefan Jacoby, who reportedly has been tapped to run Volvo Car Corp. In the meantime, VW has temporarily named two executives to take over Jacoby's duties, the German automaker said in a statement Thursday. "We are holding contract talks with Stefan Jacoby," the statement said.

Trio of Mitsubishi concepts bound for Tokyo

Mitsubishi is bringing three new concepts to next month's Tokyo motor show, the first to be developed with the automaker's ‘@earth' design philosophy. The carmaker says the three will emphasize Mitsubishi's engineering and advanced technologies that embody environmental responsibility, driving pleasure, toughness and safety. Concept GC-PHEV is a full-size SUV that uses a high output PHEV (plug-in hybrid electric vehicle) system and is billed as a ‘connected car' offering preventive safety technology, wireless connectivity and driver support.

Bankruptcy looms for cash-starved Saab

The future is growing dim for Saab. Reports from Europe say the Swedish courts might soon declare Saab bankrupt--possibly as soon as Wednesday--because the company is out of cash. Saab recently won court protection from its creditors while it waited for funds.