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BMW's new i concepts revealed

It was meant to be a modest, intimate affair for a select group of media. Yet as we flew to Frankfurt the day before the unveiling of BMW's i3 and i8 concept cars, it became quite clear that this was not to be the case. With hundreds of journalists flown in from all over, a live web broadcast to the rest of the globe, and, for the first time in history, the entire BMW board present in one room, project i is clearly vital to BMW's future product strategy.

Smart's $99 loan deal has big balloon payment at end

Hoping to benefit from the federal cash-for-guzzlers program, Smart USA has set up a $99 monthly payment for buyers who use their $4,500 rebate. But there's a catch--and a hefty balloon payment disclosed only as a note to an asterisk in Smart's press information announcing the offer. The Smart financing is for $99 a month for 36 months, with a balloon payment of $6,667 due at the end.

Jaguar unveils XJ hybrid test car in U.K.

Jagaur will show off a plug-in version of its XJ sedan at the 2012 Cenex Low Carbon Vehicle event Sept. 5-6 in the U.K. The two-day exhibition showcases low-emission vehicles and other alternative powertrains.