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Toyota aims for a comeback, shuffles execs

Toyota, unveiling a new business plan to double operating profit by 2015, will remove its head of North America from a downsized board and promote Canada chief Ray Tanguay to be its highest non-Japanese executive. Yoshi Inaba, 65, continues to lead Toyota North America and Toyota Motor Sales U.S.A. while becoming one of 18 directors to lose board seats.

Mercedes-AMG GT shows off its interior in New York

We're getting our first official look at elements of the upcoming Mercedes-AMG GT sports car ahead of an expected September debut. The new two-seater, originally rumored to be called the Mercedes-Benz SLC, indirectly replaces the SLS AMG, becoming the second stand-alone model to be conceived, engineered and produced by Mercedes' AMG performance car offshoot at its headquarters in Affalterbach on the outskirts of Stuttgart, Germany. Mercedes has controversially eschewed any traditional reference to one of its founders, Karl Benz, in the name of its new 500-hp-plus twin-turbocharged 4.0-liter V8-powered machine.

Ferrari boss Montezemolo says his future is fast cars--and fast trains

Ferrari S.p.A. Chairman Luca Cordero di Montezemolo has pledged his future to the supercar brand, refuting speculation that he might quit to join Italy's government. “In my future I see fast cars and fast trains--and no politics,” Montezemolo told Automotive News Europe in an interview at Ferrari's headquarters here.