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Watch a Volvo find its own parking spot

Cars that can navigate into a preselected parking spot have been around for a few years now, and they've proven that under the right conditions they can pull it off successfully most of the time. But what about a car that finds its own parking spot just after you step out? Volvo is about to show a car that can do just that, and it manages this feat without an array of sensors on the roof that make the car look like a military aircraft.

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.

Special Edition Bmw M5 Packing More Power Is Launched

BMW’S popular M5 performance saloon has reached an important milestone – it’s 30 years old. And to celebrate, the German car maker has unveiled a limited edition model boasting more power than any previous M5. Branded the M5 30 Jahre Edition, this limited run ’30 Years’ version packs 600 horsepower – 40 more than the standard car.