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Porsche chief Wendelin Wiedeking resigns

Porsche chairman Wendelin Wiedeking has bowed to mounting pressure in announcing that he will step down immediately. The resignation came Thursday, following a surprise meeting of the company's supervisory board at its Weissach R&D headquarters outside of Stuttgart, Germany, on Wednesday night. Wiedeking's announcement comes after months of tense and public infighting following Porsche's failed attempt to wrest control of Volkswagen, which left it with $12.7 billion in debt, and slowing sales in key markets such as North America.

Volkswagen XL1 priced at £98,515 - 30 coming to UK

By Nikolai Attard Motor Industry 30 June 2014 15:16 Volkswagen has announced the price for the energy-efficient XL1, which has now gone on sale in the UK. Only 200 VW XL1s will be built, with up to 30 making their way to deep-pocketed early adopters in the UK. The XL1 was on show at last weekend’s 2014 Goodwood Festival of Speed where it silently whirred up the hill in front of 50,000 spectators on Sunday.

2012 Buick Verano compact teased

Buick is teasing its future compact sedan called the Verano. A picture of the small car was released on Thursday along with the news that General Motors would spend $145 million to upgrade a factory in Lake Orion, Mich., to build the Buick and a Chevrolet small car. The Verano would be a 2012 model.