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General Motors to shut down Saab

General Motors has announced that it will be closing the Saab brand after the company was unable to strike a deal with Spyker Cars. This follows from last month's withdrawal of would-be suitor Koenigsegg, leaving Spyker the sole contender in the acquisition of the ailing Swedish brand. According to Nick Reilly, GM's European president, the company has decided to cut its losses: "Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time.

Ford and Dow Chemical to experiment with carbon fiber

Ford is hatching a weight-loss plan for its cars and trucks that should result in a 750-pound-per-car weight reduction before the end of the decade. The company even hired a “personal trainer,” Dow Chemical, to help it get there. So, what's their plan?

Audi sets 2012 A7 prices for U.S.

The 2012 Audi A7 hits U.S. showrooms later this month with a sticker price of $60,125, including the destination fee. The four-door is largely unchanged from 2011.