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Chevrolet sets base price for the 2011 Camaro convertible at $30,000

The price of the 2011 Chevrolet Camaro convertible when it hits showroom floors in February will be $30,000, including an $850 destination charge, General Motors said on Thursday. The price is about $2,000 more than a similarly equipped Ford Mustang convertible. The Camaro convertible will be available in the same trim levels as the coupe version.

Mercedes S500 Plug-in Hybrid revealed – gets official 94.2mpg

The Mercedes S500 Plug-in Hybrid (pictured) has been revealed There will come a point when legislators wake up and realise that car makers are getting too clever at gaming their CO2 based taxation and change the goal posts. But until then, cars like the new Mercedes S500 Plug in Hybrid – revealed today – are the perfect company buy. That’s because the clever use of a plug-in electric motor coupled with a relatively frugal ICE engine – in the case of the S500 Plug-in a 329bhp 3.0 litre V6 and 80kW electric motor – produce official economy and emissions figures that are really only valid under test conditions but save a big chunk of tax for buyers.

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.