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Porsche chief Wendelin Wiedeking resigns

Porsche chairman Wendelin Wiedeking has bowed to mounting pressure in announcing that he will step down immediately. The resignation came Thursday, following a surprise meeting of the company's supervisory board at its Weissach R&D headquarters outside of Stuttgart, Germany, on Wednesday night. Wiedeking's announcement comes after months of tense and public infighting following Porsche's failed attempt to wrest control of Volkswagen, which left it with $12.7 billion in debt, and slowing sales in key markets such as North America.

First Fiat 500s will have stick shifts

The 2012 Fiat 500 , heading to U.S. dealerships later than first expected, is enduring another hiccup: The first units arriving in dealerships in late February will have manual transmissions, the company said. Moreover, only about 20 percent of the 130 Fiat dealerships will be open when those first cars arrive, said Laura Soave, head of the Fiat brand in North America, at the Detroit auto show last week.

Aspid Cars teases sports car to join open-wheeler

Spanish automaker Aspid Cars informed us last Tuesday that it will be unveiling a sports car to complement its open-wheel track car. The company didn't tell us much aside from saying that the car will be bigger than its first car, that it will be extremely lightweight and that it will offer multiple powertrain options, including a V8 and a KERS-like hybrid system. The company also made sure to note that its name is no longer IFR Aspid.