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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.

Mazda 3 and Mazda 3 Fastback star at the 2013 Frankfurt Motor Show

Three is a magic number for Mazda at the 2013 Frankfurt Motor show. The new Mazda 3 is the third car from the Japanese manufacturer’s ‘Skyactiv’ line-up, joining the CX5 crossover and the 6 saloon and estate. This time around, the regular Mazda 3 hatchback is joined by a larger ‘Fastback’ saloon model, offering even more practicality should you need it.

Touring Superleggera Disco Volante and Ralph Lauren Bugatti win at Villa d'Este

The Touring Superleggera Disco Volante was the surprise winner of the Design Award for Concept Cars and Prototypes at 2013 Concorso d'Eleganza Villa d'Este. It beat the likes of the BMW Pininfarina Gran Lusso Coupe, Aston Martin CC100, Infiniti Emerg-E and McLaren P1, although it should be said that BMW, as a major sponsor of the event, dosn't enter its cars into the vote. The Alfa Romeo-based sports car once again proved that if it's red Italian and with a Milanese connection, it's a dead cert for winning the prize, voted for by both the judges and the general public.