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Former General Motors CEO nets multimillion-dollar retirement package

Former General Motors CEO Rick Wagoner will officially punch out on Aug. 1 with a compensation package worth almost $8.6 million over the first five years. The deal is significantly lower than what he could have received; it would have been $23 million at the end of last year, Reuters reports.

2011 Mercedes S63 AMG 5.5 litre Biturbo revealed +video

The 2011 Mercedes S63 AMG get the new 5.5 Litre BiTurbo V8 Mercedes intend phasing out the much loved – and wonderfully linear – 6.2 litre, naturally aspirated V8 which graces AMG Mercedes models across the range, from C Class to S Class and E class to CL Class. Such a wonderfully exhilarating engine, it’s a real shame to see it bow out under the pressure of ridiculous CO2 and economy targets. So the 2011 Mercedes S63 AMG gets a new engine.

Red-hot VW Golf R400 is headed for production

If you thought the Volkswagen Golf R400 concept displayed at the Beijing auto show seemed suspiciously like a real product -- you know, one you'll someday be able to buy rather than something trotted out to tease the world's enthusiasts -- you were on to something. VW says a production version of the car is in the works. We should clarify: We didn't get confirmation of that, exactly.