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Jaguar XKR-S Convertible (2011) first pictures

Jaguar has announced the smallest surprise of the year - a convertible version of the rabid XKR-S. We all knew it was coming, but it shouldn't take the sheen off the fastest and most powerful Jaguar open-top road car ever. It's essentially the cabrio bodyshell mated to the XKR-S mechanical spec.

Saab reportedly bought by Chinese-led consortium

A Chinese-controlled consortium has completed a deal to buy the assets of bankrupt Swedish carmaker Saab, media reports said. National Electric Vehicle Sweden (NEVS) will pay 1.5 billion to 1.8 billion kronor ($210 million to $250 million) for Saab, excluding spare parts company Saab Automobile Parts AB, according to reports in Sweden. NEVS did not confirm the reports.

New Porsche 911 Turbo gets a bigger engine and cranks out 500 hp

There are plenty of good reasons to go to the Frankfurt motor show in September, but this seals the deal--Porsche will use the show for the rollout of the new 911 Turbo in coupe and convertible versions. Porsche on Friday gave us photos and details on the newest 911. Here are the high points: -- New 3.8-liter flat-six engine rated at 500 hp.