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Porsche chief Wendelin Wiedeking resigns

Porsche chairman Wendelin Wiedeking has bowed to mounting pressure in announcing that he will step down immediately. The resignation came Thursday, following a surprise meeting of the company's supervisory board at its Weissach R&D headquarters outside of Stuttgart, Germany, on Wednesday night. Wiedeking's announcement comes after months of tense and public infighting following Porsche's failed attempt to wrest control of Volkswagen, which left it with $12.7 billion in debt, and slowing sales in key markets such as North America.

Mercedes Wows Goodwood With Dramatic Event Centerpiece

AS IS traditional at the Goodwood Festival of Speed, one of the event’s main attractions is the centerpiece display in front of Goodwood House itself. Used to celebrate a particular manufacturer and event theme, this year saw Mercedes take centre stage with a dramatic interpretation of the firm’s 120-year motorsport anniversary celebrations. Created by artist Gerry Judah, the sculpture is said to be the most complex and ambitious yet.

Chrysler loses 'Imported from Detroit' lawsuit

A federal judge today denied a motion by Chrysler Group LLC to bar use of its "Imported from Detroit" commercial tag line by clothier Pure Detroit, which in turn has formally opposed Chrysler's bid to trademark the phrase. U.S. District Judge Arthur Tarnow ruled that Chrysler's request didn't show that it would suffer irreparable harm or that it had a strong likelihood of winning its case.