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Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

Vorsteiner offers aero package for Ferrari 599

The Ferrari 599 is on its way out; we saw its striking replacement, the F12 Berlinetta, at the Geneva motor show. But Los Angeles-based tuner Vorsteiner isn't quite ready to let go. To infuse the “old” grand tourer with new life, Vorsteiner created a new aero kit, wheel package and exhaust system to set it apart from your run-of-the-mill Prancing Horse.

November a strong month for car sales

U.S. auto sales--led by BMW, American Honda and Volkswagen Group--rose 15 percent to 1.14 million in November, exceeding analysts' forecasts and setting the stage for the industry to finish 2012 on a high note heading into the new year. The annualized industry sales rate, adjusted for seasonal trends, accelerated to 15.56 million--the highest rate since 15.59 million in January 2008.