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U.S. equity firm to invest $70 million in Saab

Race-car fan and private-equity executive Alex Mascioli is pumping $70 million into Saab as the Swedish automaker works to stay afloat. Mascioli's firm, North Street Capitol, is buying $10 million in shares of Swedish Automobile, which owns Saab, and is also giving the company a $60 million loan to pay for the carmaker's reorganization. U.S.-based North Street Capital struck a deal in September to buy the Spyker sports-car business from Swedish Automobile for $44 million.

Fashion designer John Varvatos continues Detroit theme in new Chrysler 300 ad

Continuing the "Imported from Detroit" campaign that launched with Eminem's epic Super Bowl ad, Chrysler has partnered with fashion designer and native Detroiter John Varvatos for the next installment in the star-studded series of commercials. With Iggy Pop playing in the background, the spot shows Varvatos driving a Chrysler 300 as the voiceover says that the Motor City's "perfect combination of rock and roll and heavy industry" made it the designer's muse. Chrysler also is running an ad with Detroit Lions defensive tackle Ndamukong Suh.

Dodge Dart

These teaser images preview the 2012 Dodge Dart. Set to debut at next year's Detroit Auto Show, the Dart packs a European heart. Based upon a stretched and widened Alfa Romeo Giulietta chassis and using Fiat's multi award-winning Multiair engine, the Dart aims to put Dodge firmly in the compact sedan sector.