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Cuba loosens some limits on selling cars

For decades, driving down the streets of Cuba was like entering an automotive time warp. The streets are full of cars from the 1950s, and there's virtually nothing modern. But with an announcement by President Raul Castro last week, the strict rules are going to be relaxed a bit, and Cubans and foreign residents now have the right to buy and sell cars made after 1959.

Ford to add 1,200 jobs at Chicago plant to build 2011 Explorer

Ford plans to add 1,200 jobs when it begins making the Explorer sport-utility vehicle later this year in Chicago. The announcement is expected Tuesday morning at the plant. Plans to bring the Explorer from Louisville, Ky., to the underutilized Chicago plant have been known for nearly a year.

Koenigsegg backs out of deal to buy Saab

Swedish exotic-car maker Koenigsegg Group has canceled plans to buy Saab from General Motors. GM announced that the deal was off on Tuesday and gave no reason why the deal fell apart, nor did the automaker say what would happen to Saab. In a statement, GM CEO Fritz Henderson said: "We're obviously very disappointed with the decision to pull out of the Saab purchase.