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Mercedes-Benz plans to add a fifth compact model in 2014

Mercedes-Benz will build a fifth variant off its future A- and B-class compact-car platform. The model will be a so-called "shooting brake," company sources said, adding that the low-slung sporty station wagon will start arriving at European dealerships in 2014. The car will most likely be called the CLC Shooting Brake, the sources said.

Porsche chief Wendelin Wiedeking resigns

Porsche chairman Wendelin Wiedeking has bowed to mounting pressure in announcing that he will step down immediately. The resignation came Thursday, following a surprise meeting of the company's supervisory board at its Weissach R&D headquarters outside of Stuttgart, Germany, on Wednesday night. Wiedeking's announcement comes after months of tense and public infighting following Porsche's failed attempt to wrest control of Volkswagen, which left it with $12.7 billion in debt, and slowing sales in key markets such as North America.

Jaguar F-Type sold out until end of 2013

If you want a new Jaguar F-Type, you won’t get one until the end of 2013 The new Jaguar F-Type may not be a volume car for Jaguar – it’s place in jaguar’s lineup is to cast a rosy, sporty glow on the whole Jaguar range – but the numbers sold already seem to indicate the F-Type will end up selling even more than the 75,000 a year Jaguar hoped – assuming they can up production. Adrian Hallmark, Jaguar’s Global Brand Director, has confirmed to Automotive News that the new F-Type is already selling strongly, despite only going on sale a month ago, and the F-Type is sold out for at least the next six months. “Customers who order the car now will be lucky to get one by the end of this year”, he said.