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GM product chief Bob Lutz to retire

GM boss Bob Lutz Retires By Ben Whitworth Motor Industry 09 February 2009 17:41 GM boss Bob Lutz will retire at the end of the year. The vice chairman of global product development – who has been at the centre of the automotive industry for the last 46 years – will be replaced by Tom Stephens, GM’s current veepee for global powertrain and global quality. Lutz, 76, will continue to report to GM boss Rick Wagoner throughout 2009 in his new role as GM vice chairman and senior advisor, before bowing out at the end of December.

Ford warms up new era of car-guy leaders

A minor temblor shook Dearborn, Mich., today with the announcement that Mark Fields, president of the Americas, climbed the golden corporate ladder to grab the chief operating officer ring, setting him up to succeed Alan Mulally in a couple of years. The move did not come as a shock-it only confirmed the whispers of auto industry Royal Watchers. The biggest news for those who care about cars, however, is two-fold: Jim Farley, Ford's global marketing boss, also takes the helm of Lincoln.

Volkswagen to launch budget brand, priced from £4800

Volkswagen is planning to launch a new budget brand to challenge the likes of Dacia – and the bargain basement minis will be sold in Europe too. Prices for the yet-nameless new cheap VWs will start from just €6000, or £4800, according to paperwork seen by CAR. How can VW build city cars so cheaply?