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U.S. new car sales surge at fastest pace in nearly 7 years

U.S. sales of cars and light trucks surged 9 percent in November 1.24 million units and rolled off dealership lots at the fastest pace in almost seven years. The industry's annualized sales rate, adjusted for seasonal factors, rose to 16.4 million last month, up from 15.3 million a year earlier and easily topping analysts' forecasts in the 15.8 million range.

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.

Mercedes GLC Coupe SUV /Crossover planned

Mercedes GLC Coupe SUV /Crossover planned Four-door coupe versions of saloon cars have become a strong seller in the last few years, and now swoopy coupe SUVs are following the same path after the success of the BMW X6. BMW are building an X3 Coupe in the BMW X4, Mercedes are planning a Coupe version of the ML – the Mercedes MLC – and now they’re heading in to a fight with the BMW X4 by planning a coupe version of the next GLK – the Mercedes GLC. Car & Driver are reporting Mercedes’ plans to build a coupe version of the next GLK – which will already be a lot less boxy than the current GLK – and expected to hit Mercedes showrooms by 2016.