General Motors CEO Rick Wagoner to quit, reports say

General Motors CEO Rick Wagoner is about to resign after eight years as the Obama administration prepares to decide on the automaker's request for additional government rescue loans, two people familiar with the matter said. A senior Obama administration official told NBC's John Yang that Wagoner, 56, was asked to step down by the White House. The automaker, which has lost about $82 billion since 2004, awaits word Monday from President Obama on a request for as much as $16.6 billion in additional U.S.

Infiniti planning new global flagship model

Infiniti is planning a flagship, sporty four-door coupe in the mold of the Porsche Panamera as the joint flagship of its expanding range. The sweeping-looking four-door will take its styling inspiration from the Infiniti Essence concept penned by design chief Shiro Nakamura and first shown at the Geneva motor show in 2009. The new car is part of Infiniti's ambitious plan to become a serious global luxury brand by carving out 10 percent of that market, equivalent to about 500K sales by 2020 and backed up by a significantly expanded model range and huge investment from parent Nissan.

Chrysler, Nissan and GM lead industry to 8 percent gain

UPDATED--Chrysler Group, Nissan North America and General Motors led the industry to an 8 percent U.S. sales gain in August. The seasonally adjusted sales rate slipped to 12.13 million from July's 12.24 million as a stagnant economy, last week's U.S.