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BMW M3 coupe stripped down to go club racing

BMW's M division is back in the business of building specialty street-legal race cars with a new lightweight version of the M3 called the GTS. The lightweight coupe, set to go on sale in early 2010 at a yet-undisclosed price, was conceived as a limited-edition model primarily for club-based racing in much the same way that Porsche builds the 911 GT3 Clubsport. But in a clear effort to link its track-based activities with the production-car side of its business, BMW's M division is offering the new car with a homologation package that will allow customers to register the M3 GTS for street use.

Toyota exec to answer questions on Digg

Toyota’s recall crisis has left consumers uncertain, and to try to address that, a top executive will answer questions on the social-media Web site Digg today at 5 p.m. Eastern. Jim Lentz, president and COO of Toyota Motor Sales U.S.A., will do a “Digg Dialogg” based on questions submitted by users.

Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.