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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.

Penske Automotive will buy Saturn from GM

IndyCar team owner and Detroit businessman Roger Penske has an agreement with General Motors to buy the Saturn brand, it was announced Friday. The proposed deal could close in the third quarter, and GM would continue to build the Saturn Aura, the Vue and the Outlook on a contract basis for Penske Automotive Group, which is the nation

Lewis Hamilton takes pole in Hungarian Grand Prix

Lewis Hamilton (pictured centre) takes pole in the 2013 Hungarian F1 ahead of Vettel (L) & Grosjean Sebastian Vettel had looked the man in form, and most likely to take pole position for tomorrow’s Hungarian Grand Prix, but L:ewis Hamilton surprised him – and surprised himself – with a stunning final lap in the last moments of final qualifying. Hamilton’s storming lap beat Vettel in to second place and was stunned to be told on the radio he was in P1. “Is that pole?”, said a surprised Hamilton, before whooping with glee.