1959 1960 Impala Olds Pontiac Buick Cadillac Front Convertible Chrome Lock Downs on 2040-parts.com

Spied: Mercedes-Benz SLC AMG? UPDATED

LATEST UPDATE Mercedes-Benz’s AMG performance car off-shoot has kicked off public road tests of its eagerly awaited new sportscar, which is planned to go on sale in North America in early 2015. Smaller and more affordable than the existing SLS AMG, which the new two door liftback will indirectly replace in the German car maker’s line-up, the new car is planned to compete directly with the Porsche 911, both on price and performance. The coupe model, caught here exiting AMG’s engineering headquarters on the outskirts of Stuttgart in Germany yesterday in the first round of durability testing, will proceed a convertible version of the front-engined, rear-wheel drive sportscar due out in 2016, with an expected price tag of around $100,000 in the US.

Hyundai PassoCorto coming to Geneva

Hot on the tailpipes of the Kia GT4 Stinger's debut in Detroit comes word of an even racier-looking two-seater from parent company Hyundai – the PassoCorto. Built by and for Gen Y car enthusiasts, the PassoCorto was styled by 16 students in the Master's program of transportation design at the Istituto Europeo Design (IED) in Turin. The students were tasked by Hyundai Design Center Europe with making “…the car that would be on top of their list for buying and driving.” We don't know any Gen Ys who could fork over close to $60,000 for a car, the cost of the similarly-sized Alfa 4C, but we know plenty who would like to have one.

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.