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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.

Ferrari 599XX raises €1.4 million in Ferrari earthquake auction

The auction by Ferrari to raise funds for victims of the earthquake in the Emilia Romagna region has raised €1.8 million. The Ferrari auction to raise money for victims of the earthquake in the Emilia Romagna region in Italy only kicked off two weeks ago, but has already ended with a total of over €1.8 million raised. The vast majority of the funds raised came from the sale of the Ferrari 599XX which sold to an American buyer for €1.4 million – almost a bargain.

Dodge Demon (2007): first official pictures

By Tim Pollard First Official Pictures 12 February 2007 09:59 Dodge Demon: the lowdown Dodge is a brand intent on filling every niche going, it seems. The American firm used to be known in Britain only for its V10-powered Viper supercar, but it's expanding like there's no tomorrow - and this MX-5-rivalling Demon roadster, unveiled today, could be next. It's a high-fun, low-price two-seater aimed squarely at the Mazda soft-top.