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Spyker, Youngman agree on joint venture

Dutch supercar maker Spyker and the Chinese Youngman Group have agreed on a joint venture to build a new super sport utility vehicle and a group of sedans based on Saab's Phoenix platform. The SUV is scheduled to hit the market by the end of 2014, while no dates for the Phoenix-based sedan were announced. Youngman will invest 10 million euros in Spyker, 7 million of which will be for stock shares constituting 29.9 percent of the supercar company.

Audi unveils fuel sipping A3 1.6 TDI ultra

Audi has just revealed a new version of its popular A3 hatchback, this one aimed straight at fuel economy figures that'll put hybrids to shame. The new A3 1.6 TDI ultra uses just 3.2 liters of diesel per 100 kilometers as the Europeans like to put it, or 73.5 miles per U.S. gallon.

Audi debuts A8 Exclusive Concept special edition

Perhaps feeling the pressure from other luxury automakers and the debut of a number of special edition executive sedans, Audi has announced a limited run of 50 examples of its 6.3-liter 500-hp W12-engined A8L flagship. Dubbed the A8 Audi exclusive concept, the long-wheelbase executive yacht will feature a leather interior from Italian designer furniture maker Poltrona Frau. The A8 Audi exclusive concept will feature aniline leather in the color of Agatha Cognac, which is said to be very soft, and the center sections of the seats will have diamond quilting.