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Lajdziak replaces Schembri as the president of Smart USA

Jill Lajdziak, Saturn's former top executive, was named president of Smart USA just three days after starting with the company. David Schembri, who previously held the job, will take an unidentified position with the Penske Automotive Group, which distributes the Smart ForTwo microcar in the United States, the company said. "Dave will transition into retail operations at Penske Automotive Group with our dealerships," said Penske spokesman Anthony Pordon.

Watch: Ford Fiesta Rallycross car showcased in Detroit

The Ford Fiesta ST and the streets of Detroit and Belle Isle are the stars of this promotional video released on June 26 by Ford Racing to help promote the ongoing bid of organizers who are hoping to lure the X Games to the Motor City in 2014. Detroit is one of four finalists for the 2014 X Games, along with Austin, Texas; Charlotte, N.C., and Chicago. An announcement is expected late this summer as to which of the three cities will be awarded the three-year run of Summer X Games.

1965 Shelby Daytona Cobra sells for $7.25 million at Monterey auction

The championship-winning 1965 Shelby Daytona Cobra Coupe CSX2601 sold for a record $7.25 million on Saturday at an auction in Monterey. The sale is believed to be a record for an American car at auction. Bob Bondurant drove it to victory in the 12 Heures du Reims--fittingly on the Fourth of July in 1965 to secure the FIA title.