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General Motors CEO Rick Wagoner out, replaced by COO Fritz Henderson

General Motors chairman and CEO Rick Wagoner has agreed to "step aside" after pressure from the Obama administration last week, ending his eight-year tenure at the helm as the company seeks additional federal aid. He's been replaced by GM President and COO Fritz Henderson, effective immediately. GM confirmed the moves shortly after midnight Monday.

Scion considers moving upscale

Toyota's struggling Scion brand may move upscale to challenge entry-level luxury models coming from European automakers. The new lower-luxury niche includes Mini, the front-wheel-drive Mercedes-Benz CLA arriving this fall and Audi's compact A3 sedan shown last week on the eve of the New York auto show. Scion has gone after young entry-level buyers since its inception 10 years ago but has lost its early momentum.

Vauxhall Corsa SRi

By Tim Pollard Motor Shows 08 June 2007 08:40 Vauxhall Corsa SRi: the lowdown Can't afford the VXR, but want something to spice up your Corsa? Vauxhall, or rather sister company Opel, unwrapped a new junior hot hatch at this week's Barcelona Motor Show. The new SRi model has many of the VXR's styling cues, but with a more wallet-friendly, lower-powered turbo engine.