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Volkswagen chief: No. 1 in the world by 2018

Volkswagen chairman Martin Winterkorn reaffirmed his company's ambitious and audacious goals on Wednesday night on the eve of the Paris motor show: pass Toyota and General Motors for the title of world's largest automaker in 2018. Winterkorn was the final speaker after an event that featured unveilings from each of the German conglomerate's brands. He said his company wants to record total sales of 10 million in eight years, which would vault it pass the current levels of global leaders Toyota and GM.

McLaren celebrates 50 years at Amelia Island Concours d'Elegance

The company that revolutionized motorsport will celebrate 50 years at the 19th annual Amelia Island Concours d'Elegance this coming March. Five decades of classic McLaren racers will be on display, including honoree Jochen Mass' 1977 McLaren M23 Formula One racer as a part of the “Cars of Jochen Mass” class. McLaren earned its reputation by not only dominating the motorsport world, but also through relentless pursuit of more speed and technology.

Chrysler, CAW reach tentative contract deal

The Canadian Auto Workers tentatively agreed tonight to new concessions that will save the struggling automaker $240 million annually and help the carmaker to try to avoid a bankruptcy filing, CAW President Ken Lewenza said at a news conference. In exchange, the CAW got Chrysler and potential partner Fiat SpA to agree to keep its two Chrysler assembly plants open even if bankruptcy is unavoidable, Lewenza said. General Motors and Ford Motor Co., which signed new CAW agreements earlier, have indicated their desire to get the same concessions as those negotiated with Chrysler, Lewenza said.