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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.

New baby Jaguar saloon to be shown this summer

The new small Jaguar saloon out testing in ill-fitting XF camouflage Jaguar has made huge strides in the last few years and is now on the brink of being recognised, once again, as a major force. But so far Jaguar has been producing great cars in not the biggest-selling sectors, but that’s set to change with the new small Jaguar saloon (perhaps the Jaguar XS) which will be first shown this summer ahead of a 2015 launch. The new baby Jaguar will be entering a very competitive market place, taking on cars like the BMW 3-Series, Mercedes C-Class and Audi A4, so Jaguar are going to have to work hard to produce not only a credible car, but one that uses its ‘Britishness’ as its USP.

Lexus ES sedan production coming to Kentucky

Toyota Motor Corp. plans to invest $360 million to bring production of the Lexus ES sedan to Kentucky, making it the first model from Toyota's premium brand to be built in the United States as the carmaker pushes to localize more manufacturing. Under the plan announced Friday in New York by CEO Akio Toyoda, Toyota will boost annual capacity at its Georgetown, Ky., plant by 50,000 vehicles to accommodate ES output.