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Volkswagen to add compact four-door coupe to its lineup

Volkswagen has hatched plans for a second four-door “coupe” model as part of a strategy to shore up its North American and Chinese market shares while providing a suitable addition to its European lineup. To be positioned underneath the recently facelifted CC, the new four-seater is set to form part of the Jetta lineup, joining successors to today's sedan and wagon models in an expanded three-model range. They're all set to hail from Volkswagen's Puebla plant in Mexico, the same site responsible for the newly launched second-generation Beetle.

Chrysler CEO vows never to repeat mistakes from Cherokee launch

Chrysler Group CEO Sergio Marchionne acknowledged mistakes in the way the company developed and launched the 2014 Jeep Cherokee, and vowed to never repeat them. "What we've learned is that we'll never repeat it. We're never going to take a plant down and be out of the market for over a year," Marchionne told analysts in a conference call today.

Bankruptcy looms for cash-starved Saab

The future is growing dim for Saab. Reports from Europe say the Swedish courts might soon declare Saab bankrupt--possibly as soon as Wednesday--because the company is out of cash. Saab recently won court protection from its creditors while it waited for funds.