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Chris Bangle resigns as BMW Group Design Director

BMW today announced that Chris Bangle is resigning from his position as Head of Design for the BMW Group. Bangle will be handing over his post to current Head of BMW Automobile Design, Adrian van Hooydonk, when he leaves the company to pursue his own design-related endeavors outside the auto industry. Bangle has worked closely with van Hooydonk at BMW Group Design Development for nearly 17 years.

Karmann files for insolvency

Karmann, the century-old German coachbuilder synonymous with cabrios and the famous 1950s Karmann Ghia, has filed for insolvency. The company made the move Wednesday in Germany in response to a dramatic decline in revenue, an inability to pay for its massive layoff plan and the worldwide economic crisis. The North American operations, which make convertible tops for Detroit car companies and Volkswagen, are not affected, a spokesman said.

GM returning to leasing with luxury vehicles

General Motors will return to the leasing business focusing on luxury vehicles, but not on a broader basis, Vice Chairman Bob Lutz said. "We will get back into leasing, but we are not going to use massive subsidized leasing to drive volume because it's volume without profitability," Lutz said July 29 in an interview with Automotive News. "We'd rather sell less at higher profit than sell more at lower profit." Lutz said it still would make sense for GM to do more leasing on its luxury vehicles.