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GM to build Cadillacs outside the U.S.

General Motors CEO Dan Akerson said Tuesday that the company plans to begin building Cadillacs outside the United States by the end of 2012 as part of its plan to make GM's premium brand a true global nameplate. Akerson said overseas Cadillac production would reduce the risk of foreign-currency fluctuations and allow GM to better manage its supply chain. Although Cadillac long has been sold in China and other international markets, it's produced only in North America.

Ferrari celebrates 30 years in Hong Kong

ICONIC sporting brand Ferrari turned on the style to celebrate 30 years of presence in Hong Kong. Ferrari's president Luca di Montezemolo was in attendance alongside a spectacular display of over 600 Ferraris - the largest gathering ever in Greater China - arranged to form the traditional five-petal flower. The gathering also was used to show the firm's latest offering the 458 Speciale which was unveiled by Marc Gene, the Scuderia F1 team's chief test driver.

Honda recalls sedans for power-steering issue

Honda has expanded a recall of the Honda Accord and Acura TL sedans that now affects more than a half-million vehicles for a problem with hoses that connect the power steering. Honda says that prolonged exposure to high temperatures could cause the power-steering hoses to crack. The fluid could leak onto a hot catalytic converter, leading to a fire.