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Audi R5, Porsche 550, VW Bluesport 'on hold'

Numerous indications are pointing to the exciting mid-engined VW, Porsche and Audi sports cars being on ice. The group had been collaborating to develop the VW Bluesport, Porsche 550 and Audi R5 - some observers had hailed the new roadsters as the Elise from Germany. Porsche doubts over the 550 But at the weekend Porsche CEO Matthias Muller told German business rag Wirtschaftswoche that he was worried a cheaper Porsche may dilute the brand's image.

Rare foreign cars head to Carlisle this weekend

Every spring, Carlisle, Pa., (otherwise known as the Woodstock of the classic-car hobby, a title it now fully shares with Hershey) hosts a weekend event just for foreign cars. Last year, over 1,000 cars gathered in central Pennsylvania, with rare foreign machinery making its way from all over the lower 50 and parts of Canada. The longest-traveled cars we spotted last year wore British Columbia plates, which should give you a clue as to the event's following, though we're still unsure which cars we spent the longest time gawking at.

2012 Scion iQ priced at $15,995

As journalists including AutoWeek's own Michelle Koueiter flog the new 2012 Scion iQ in California, pricing information has made its way back to the Midwest. The Scion iQ will cost $15,995, including destination, when it hits dealerships. The car will be released in four phases, starting with the West Coast in October.