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Happy 58th birthday, Chevrolet Corvette

Fifty-eight years ago, on June 30, 1953, the first production Chevrolet Corvette rolled off the temporary assembly line in Flint, Mich. This was just six months after the Corvette made its world debut at the 1953 GM Motorama at the Waldorf-Astoria Hotel in New York City. The Flint line would build 300 copies of the '53 Corvette--all of them white, with red interiors and black folding tops.

Facelifted Audi R8 (2012) prices announced

Audi has announced prices for its revised 2012 R8 supercar range. The cheapest way into R8 ownership remains the V8 Coupe, at £91,575, while the new flagship R8 V10 Plus will set you back a cool £127,575 if you opt for the pricier double-clutch gearbox version. Why the premium for the Audi R8 Plus?

Obama calls for shared sacrifice in auto bailout

President-elect Barack Obama says he wants to keep tough conditions on automakers that get federal loans. The companies must develop sustainable business models because it would be unacceptable "to keep them on their lifeline through taxpayer dollars in perpetuity," Obama told The Washington Post. Obama said industry restructuring will require "everybody, from labor to management to creditors to shareholders, giving something up." His comments contradict suggestions that the new administration will relax federal loan agreements reached last month with General Motors and Chrysler LLC, possibly with softer demands on the UAW.