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Chrysler's product plan: Tweaks, then tidal wave

Chrysler Group's product renaissance is a drama in two acts. First, the company is breathing new life into its existing lineup. Highlights include the redesigned 2011 Jeep Grand Cherokee, which the automaker started shipping to dealerships in early July, and the re-engineered and restyled Chrysler 300 and Dodge Charger rear-drive sedans, both coming in the first quarter of 2011.

Volkswagen 'will build the XL1' - Piech

Volkswagen will build the radical 313mpg XL1 eco cigar in 2013, Ferdinand Piech revealed at the Qatar motor show. In an interview with Automotive News, the VW chairman said: 'We want to go into series production with this car starting in 2013.' He insisted it would go on sale to real people, not just as media demonstrators. And VW chief exec Martin Winterkorn added the XL1 would be sold in Europe first, then be rolled into the US and Chinese car markets.

GM agrees to sell Saab to supercar company Koenigsegg

General Motors confirmed Tuesday morning that it has a tentative agreement to sell Saab to a group led by Swedish supercar maker Koenigsegg Automotive. The deal would close by the end of the third quarter and put Saab in the hands of an upstart, boutique car company known for producing eye-catching cars with gaudy horsepower ratings and even gaudier price tags. The agreement includes $600 million in financing from the European Investment Bank.