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Former General Motors CEO nets multimillion-dollar retirement package

Former General Motors CEO Rick Wagoner will officially punch out on Aug. 1 with a compensation package worth almost $8.6 million over the first five years. The deal is significantly lower than what he could have received; it would have been $23 million at the end of last year, Reuters reports.

Chevy to auction first Z06 for Karmanos Cancer Institute

Chevrolet is continuing its tradition of donating its first production model of a new vehicle to be auctioned for charity: The first production 2015 Chevrolet Corvette Z06 will be sold at the Barrett-Jackson Palm Beach, Fla. event on April 12. Proceeds will go to the Karmanos Cancer Institute, extending the General’s long-standing support for the organization.

Audi preps S3 Cabriolet for Geneva

Audi revealed the S3 Cabriolet on Wednesday, before its Geneva motor show debut. The go-fast version of the small A3 Cab shares the same widespread MQB architecture as the rest of the 3 range, but it gets a hotter engine, a lower stance and, of course, a rag top. It’ll arrive in Germany this summer, and possibly here sometime after the S3 sedan in early 2015.