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General Motors spending $131 million to upgrade Corvette plant

General Motors is spending $131 million on its Bowling Green, Ky., assembly plant to prepare it to build the next-generation Corvette. The plant will spend the money on manufacturing equipment, specialized tooling and plant updates, said Mark Reuss, GM's president of North America. The plant will add about 250 jobs, which will boost its workforce by about 50 percent, to about 750 workers.

Pininfarina reveals New Stratos

Pininfarina has revealed a one-off supercar called the New Stratos for German collector Michael Stoscheck. The car has a 4.3-liter V8 and is meant to channel the spirit of the legendary Lancia Stratos rally car of the 1970s. It was shown on Monday on the Paul Ricard circuit at Le Castellet.

Fiat 500 1957 Edition revealed ahead of LA Auto Show

While American teenagers were cruising around in finned interstate crushers, Europeans of all ages were discovering the wonder of automobile ownership thanks to the tiny, affordable Fiat Nuova 500, introduced to a car-hungry public in 1957. The little two-cylinder city car was a smash hit, with 3,893,294 built before production ended in 1975. Fiat 500 production resumed in 2007, but the new car was vastly different from the original: Its engine gained two cylinders and moved to the front of the car, while its footprint, though diminutive by American standards, positively dwarfs that of its predecessor.