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Eterniti Motors readies two SUVs and a sports car

New British car brand Eterniti Motors is steaming ahead with its plan to launch the Hemera - a new Cayenne-based SUV due in 2012 - and there are two other projects waiting in the wings, including a dramatic sports car. The first project for the London-based company is taking Porsche's Cayenne Turbo S and reconfiguring it with exotic new materials, a fresh wardrobe and a stretched cabin to free up more cabin space. Eterniti has also issued sketches of this supercar, but won't reveal yet the donor vehicle.

Hyundai explores pickup plans with Chrysler, report says

Hyundai proposed plans to Chrysler earlier this year to work together on a truck derived from the Ram chassis for Hyundai, Reuters is reporting. Chrysler CEO Sergio Marchionne rejected the overture from the South Korean company, Reuters says, but it's possible Hyundai could make another offer. The move could allow Hyundai to tap into a lucrative part of the U.S.

Ford cuts CEO's compensation 37%

Ford Motor Co. CEO Alan Mulally earned $13.57 million in total compensation in 2008, a 37 percent decline, as the automaker avoided seeking a federal bailout while posting a record loss. Mulally will take an additional 30 percent cut in salary this year and next as he battles a global financial crisis and the worst U.S.