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'Spen' King, father of the Range Rover, dies

Charles Spencer "Spen" King, a British engineer and father of the original Range Rover, died on June 26 at age 85. King passed away as a result of injuries sustained when his bicycle collided with a van earlier this month. King entered the auto business in 1942 as an apprentice for Rolls-Royce before going to work for his uncles, Spencer and Maurice Wilks, at Rover.

Porsche: Plans for new small Roadster dropped

Porsche boss confirms no 21st century Porsche 550 will be built Porsche has finally dropped plans for a new small roadster to sit below the Boxster and based on VW’s BlueSport. The idea of a smaller Porsche to sit below the Boxster has been floating around for what seems like forever. But it seems like the idea has finally been put out to grass by Porsche boss Matthias Mueller.

Senate releases $350 billion more in bailout money

The Senate voted Thursday to release a second round of $350 billion in federal aid to rescue financial institutions. The money could be the source of additional loans to automakers, auto finance companies and perhaps suppliers. An earlier allocation of $350 billion funded the first installments of emergency loans to General Motors and Chrysler LLC.