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General Motors CEO Rick Wagoner to quit, reports say

General Motors CEO Rick Wagoner is about to resign after eight years as the Obama administration prepares to decide on the automaker's request for additional government rescue loans, two people familiar with the matter said. A senior Obama administration official told NBC's John Yang that Wagoner, 56, was asked to step down by the White House. The automaker, which has lost about $82 billion since 2004, awaits word Monday from President Obama on a request for as much as $16.6 billion in additional U.S.

2013 European Car of the Year finalists announced

The finalists for the European Car of the Year have been announced, a total of 5 finalists from a total of 34 nominees. It’s coming to the end of another year, so we’re going to be inundated with ‘Best Car of the Year’ awards for the next few weeks from all on sundry. Out of the gate today comes the final list for the European Car of the Year’ with a selection of eight cars (it was too close to call for the normal seven finalists) with the only real surprise perhaps being the inclusion of two French cars – the Renault Clio and Peugeot 208.

BMW M3 GTS – more videos

The new BMW M3 GTS - more video On Wednesday we reported on the reveal of the BMW M3 GTS, a track-focused, stripped-out and lightweight BMW M3. It will deliver at least 450bhp from its 4.4 litre V8, all of which will be driven through the rear wheels by a 7-speed M Dual Clutch Transmission (M-DCT). Apart from the obvious orange paint job, the M3 GTS gets a very seventies looking rear wing bolted to the boot.