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Porsche Panamera

Porsche today revealed the first official photos of its new four-door grand touring sports car, roughly nine months before its scheduled market launch. Joining the 911, Boxster and Cayman sports cars as well as the sporty Cayenne SUV, the Panamera is Porsche's fourth model series. The designers of the Panamera sought to position their latest offering as a brand-new and truly different model while retaining the defining Porsche look.

Spyker warns that Saab's future is 'uncertain' without fresh funds

Spyker Cars NV, the Dutch parent of Saab, said the Swedish automaker's financial situation is worsening and warned that Saab's future is at risk without additional financing. In its annual report released today, Spyker said the company's "continuity" could become uncertain unless it secures extra funds to finance ongoing operations and the execution of its business plan. Earlier this week, Saab was forced to shut down production for short intervals after key suppliers halted parts deliveries for non-payment.

Automakers try to stop increase in ethanol limit to 15 percent of gasoline

Automakers are seeking to head off an EPA ruling that would allow gasoline to contain 15 percent ethanol, up from 10 percent now, and they've won some bipartisan congressional support. The two main automaker industry lobbies have argued that the U.S. Department of Energy has done insufficient testing to assure that gasoline containing up to 15 percent ethanol won't harm vehicles.