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BMW to supply engines to Saab, reports say

Saab and BMW AG have agreed on a deal that allows the Swedish carmaker to use engines made by BMW, according to a person with direct knowledge of the matter. Saab will initially purchase BMW engines for the 9-3 model that is scheduled for release in late 2012, said the person, who asked not to be identified before a contract is signed. The carmakers plan to sign and announce the pact in Trollhattan, Sweden, on Wednesday, the person said.

Ferrari 458 Italia spider in the works, Di Montezemolo reportedly says

The Ferrari 458 Italia will get a spider version, company president Luca di Montezemolo told Italian reporters. The Ferrari chief says work is under way on the topless 458 and that it should arrive in about two years. The 458 coupe launches early next year.

Toyota paid $10 million to settle unintended acceleration lawsuit

Toyota Motor Corp. agreed to pay $10 million to settle a lawsuit with the families of four people who were killed in an accident that led to the automaker’s recall of millions of vehicles over unintended acceleration concerns. The settlement was reached in September, but the amount was not made public at the time after both Toyota and the plaintiffs agreed to keep the deal confidential.