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General Motors CEO Rick Wagoner to quit, reports say

General Motors CEO Rick Wagoner is about to resign after eight years as the Obama administration prepares to decide on the automaker's request for additional government rescue loans, two people familiar with the matter said. A senior Obama administration official told NBC's John Yang that Wagoner, 56, was asked to step down by the White House. The automaker, which has lost about $82 billion since 2004, awaits word Monday from President Obama on a request for as much as $16.6 billion in additional U.S.

Official: UK car production is booming

Nearly 10% MORE cars were produced in the UK this September compared to the same time last year, data released today from the Society of Motor Manufacturers and Traders (SMMT) has revealed What’s more, 1,125,433 cars were manufactured in the UK by the end of the month – that’s a 3.9% rise compared to 2012. September new car sales beat forecasts UK car sales hit four year high in 2012 This means UK car production has returned to pre-recession levels. The rolling 12-month total has now topped 1.5 million vehicles.

Acura shifts focus to sensible Gen Y shoppers

Honda is ready to begin the makeover of its Acura premium brand this spring, and the timing could hardly be better. In addition to the new ILX small sedan and redesigned RDX compact crossover coming in spring, a tease of the redesigned RL flagship due this fall will be shown at the New York auto show in April. Then, the volume leading TL sedan and MDX mid-sized crossover are slated for 2013 redesigns.