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Daimler agrees to unload remaining Chrysler stake

Daimler AG announced today that it has reached an agreement to unload its remaining 19.9 percent stake in Chrysler LLC. "Daimler's remaining 19.9 percent shareholding in Chrysler will be redeemed, and Daimler will forgive repayment of the loans extended to Chrysler, which were already written off in the 2008 financial statement," Daimler said in a prepared statement. All told, Daimler will write off $700 million as a result of the deal, according to the statement.

Chevrolet touts Corvette 427 convertible with race driver Tommy Milner

The 2013 Chevrolet Corvette 427 convertible doesn't need any hype--the 505-hp V8, a 0-to-60-mph time of 3.8 seconds and a top speed in excess of 190 mph make a strong statement. Nonetheless, Chevrolet has enlisted the help of Corvette Racing driver Tommy Milner in a trio of 90-second videos to tout the 427 convertible. In our favorite, Milner talks about the car's aerodynamics, including the optional carbon-fiber splitter, that help keep the car glued to the ground for better control.

2013 facelift for BMW Z4 & new Z4 M35i

BMW are planning to facelift the Z4 for 2013 and add a new M Performance model – the BMW Z4 M35i – to replace the Z4 sDrive35iS. Four years since the current BMW Z4 was launched at the Detroit Motor Show in January 2009, it looks like BMW’s roadster is getting a facelift to keep it fresh, and a new M Performance model – the BMW Z4 M35iS. Changes to the 2013 Z4 are likely to be modest, with the usual facelift fare of new bumpers, new lights, new alloys, titivated ‘more upmarket’ interior and tweaks to the engines to offer more power with better economy and lower emissions.