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Porsche Panameras recalled for seatbelt fix

Porsche is recalling all 11,300 units of the 2010 Panamera to fix a problem with the front seatbelts. According to Porsche, the Panamera's seatbelt mounts could fail in a crash when the front seats are in the full forward position. No injuries have been reported.

General Motors to shut down Saab

General Motors has announced that it will be closing the Saab brand after the company was unable to strike a deal with Spyker Cars. This follows from last month's withdrawal of would-be suitor Koenigsegg, leaving Spyker the sole contender in the acquisition of the ailing Swedish brand. According to Nick Reilly, GM's European president, the company has decided to cut its losses: "Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time.

Ford, Lawrence Tech offer design scholarships

The next Camilo Pardo might hail from Lawrence Technological University. In the Designing for the Future contest, Ford Motor Co. and Michigan's Lawrence Tech are challenging high school seniors to compete for more than $75,000 in scholarships to the school's transportation and industrial-design programs.