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New (2013) Lexus IS: Official Photos revealed

Lexus has revealed the first official photos of the new Lexus IS which will debut at the Detroit Auto Show next week. What we see is a much more dynamic looking IS, borrowing visibly from the LF-CC Concept we saw at Frankfurt last year, and promising to be the best effort yet by Lexus to put a dent in the BMW 3 Series. Prominent is the new Lexus spindle grill with a set of mean looking headlights with arrow shape LED running lights, with the cabin looking further back than the current IS, a coupe-like profile and a swoopy crease running back from the sills to the tail.

Bondholders snub GM, bankruptcy filing likely

Nowhere near enough General Motors bondholders agreed to exchange their debt for stock before a midnight Tuesday deadline, making a bankruptcy filing by the automaker highly likely. GM had set a threshold of 90 percent of the $27 billion in bond debt it wanted to exchange for 10 percent of the stock in a reorganized company for the deal to take place. In a statement Wednesday, GM said the amount of notes tendered was substantially less than the 90 percent target.

Volkswagen's No. 1 ambition: How it plans to rule the world

When Ferdinand Piech celebrates his 74th birthday on April 17 in his villa in Salzburg, Austria, with his wife, Ursula, his youngest son, Gregor, and other close family members, he likely will look back at his career and break into a big, satisfied smile. The chairman of Volkswagen AG's supervisory board wants to turn Volkswagen Group into the world's largest automaker. And he loves it when a plan comes together.