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Bankruptcy will delay Chrysler's 2010 model launches, exec says

Chrysler LLC will be late getting its 2010 vehicles to market because of the automaker's Chapter 11 bankruptcy filing, Chrysler manufacturing chief Frank Ewasyshyn testified today. The current shutdown of plants and stresses on suppliers also threaten to delay the 2011 models next year, Ewasyshyn said. The changeover to 2010 models is delayed while Chrysler tries to emerge from bankruptcy within the next 30 to 60 days, he said.

Wiedeking to be offered $140 million to quit Porsche, report says

Porsche CEO Wendelin Wiedeking could be offered a $141 million (100 million euros) payoff to quit the sports car maker to make way for a merger with Volkswagen, Germany's Sueddeutsche Zeitung newspaper reported Friday. The newspaper said Wiedeking has been visited by Porsche Chairman Wolfgang Porsche in the past few days, who “made it clear” that the embattled CEO should step down. Wiedeking has come under fire for allowing Porsche's holding company to amass debts of more than $12.7 billion (9 billion euros) during a failed attempt to take over VW.

Bugatti 'will continue to produce world's fastest car'

Bugatti will continue to produce the world's fastest cars - and that's a promise by the new chief executive of Bugatti. Wolfgang Durheimer, who took over as combined boss of Bugatti and Bentley in spring 2011, told CAR that being the fastest was a cornerstone of the modern Bugatti philosophy. 'It is vital that Bugatti produces the world's fastest car,' Durheimer said.