Former General Motors CEO nets multimillion-dollar retirement package

Former General Motors CEO Rick Wagoner will officially punch out on Aug. 1 with a compensation package worth almost $8.6 million over the first five years. The deal is significantly lower than what he could have received; it would have been $23 million at the end of last year, Reuters reports.

Apple announces 'iOS in the Car' hands-free system

Apple has announced the next generation of in-car iPhone integration with its latest software update, iOS 7, named 'iOS in the Car'. Next year will see carmakers including Honda, Mercedes Benz, Nissan, Ferrari, Chevy, Infiniti, Kia, Hyundai, Volvo, Jaguar, and Acura offering Apple's new iOS in the Car system, developed to let drivers use key iPhone functions via the dashboard screen. Drivers will be able to make phone calls, play music, display Apple Maps and receive iMessages either by using the car's controls or through voice commands to Apple's voice-recognition program, Siri, which can also read iMessages aloud and write new messages as part of Apple's Eyes Free feature set.

Caterham off to China in 2012

Caterham Cars - China Bound It’s quite an eventful time for car-making minnows Caterham – keepers of the Colin Chapman Flame- with a takeover at Caterham  by Tony Fernades and Team Lotus only just complete, and now the news that Caterham are going to be selling cars in China from 2012. The takeover by Team Lotus has seen Caterham Cars’ profile on the international stage rise considerably as its logos appear on the Team Lotus F1 cars, which will do its prospects of selling Caterhams around the world no harm at all. Caterham has now signed an exclusive deal with Chinese importer Courtenay Trading International (CTI) who are aiming to appoint six retailers in key provinces of China over the next twelve months with a modest sales target of 50 cars in the first year.