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Ford Mustang 50 Year Limited Edition premieres at New York auto show

Ford launched the Mustang 50 years ago this week at the New York World's Fair. To celebrate the iconic pony car's birthday, Ford will be revealing a 2015 Mustang 50 Year Limited Edition, just 1,964 examples of which will be built. The limited edition model premieres at New York auto show this week, and will go on sale this fall.

Saab files for reorganization, seeks $1 billion to survive

Saab is seeking $1 billion (793 million euros) to be self-financing, the company said on Friday after it filed for reorganization under a self-managed Swedish court process. The General Motors-owned Swedish brand said it will work "to create an independent business entity" and will concentrate production, design and engineering in Sweden. Saab said it would continue to operate as normal during the reorganization process, with GM and the Swedish government providing some support.

Tesla Roadster 2.5 breaks cover

Perhaps feeling a bit of chutzpah after a wildly successful stock offering this week, Tesla is demonstrating on Thursday that it still has an eye toward product, revealing the updated Tesla Roadster. And it's available for order now. Called the Roadster 2.5, the car features minor enhancements, including a new front fascia with different diffuser vents (the change is actually apparent) and new rear diffuser.