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2012 Porsche Carrera & Carrera S Cabriolet revealed

2012 Porsche 911 Carrera Cabriolet It’s only five minutes since the 2012 Porsche 911 arrived – well, Frankfurt in September – but already we’ve got the reveal of the 2012 Porsche 911 Cabriolet in Carrera and Carrera S guises, ahead of a debut at Detroit in January 2012. The stand-out feature of the 911 Cabrio – over and above the stand out features of the 2012 911 – is its new trick folding soft-top. Porsche has designed a new folding roof for the 2012 Cabriolet, which features a fabric-skinned composite panel for the top and back bits of the roof and magnesium in the frame, giving a much smoother appearance than a traditional folding roof.

Fiat will buy the rest of Chrysler for $4.35 billion

Fiat has announced that it will purchase the rest of Chrysler in a deal totaling $4.35 billion. Currently, the outstanding 41.6 percent stake in the company is owned by the UAW's voluntary employee beneficiary association, or VEBA, trust. Under the terms of the deal, Fiat won't shell out all $4.35 billion.

Formula Drift readies for 10th anniversary

Just two weeks after selling more tickets than ever at its 2012 season-ending event at Irwindale Speedway in Southern California, Formula Drift announced special 10th anniversary plans for the coming 2013 season. “It's crazy,” Formula Drift co-founder Jim Liaw said of the series' and sanctioning body's first 10 years. “It's kind of gone by in a blur.” That would be because it went by sideways.