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Senate approves tax break for auto loan interest

The U.S. Senate voted on Monday to make loan interest and sales taxes on vehicle purchases deductible from federal income taxes. The proposal, championed by the National Automobile Dealers Association, was added to an economic stimulus bill under debate in the Senate.

Nissan to slash jobs, production after forecasting $2.9 billion loss

Reversing his profit forecast to a loss, Nissan Motor Co. CEO Carlos Ghosn entered crisis mode on Monday. Ghosn announced plans to slash 20,000 jobs, cut production by 20 percent, scale back model launches and delay new factories.

Lexus LF-LC hybrid sports coupe unveiled at 2012 Detroit show

After a series of leaks and early teasers, the wraps have finally come off the new Lexus LF-LC hybrid sports car concept here in Detroit. It's a glamorous 2+2, showing how Toyota's Calty design studio in California imagines a new sports car for the brand. However, all the indications at the 2012 NAIAS show are that it's more an ideas car - and a hint of future styling trends - more than a model bound for a Lexus showroom near you.