Magnaflow Performance Exhaust 14586 Stainless Steel Muffler on 2040-parts.com

Cadillac ATS and Tesla Model S make final five in Innovation By Design Award's 'Transportation' category

Cadillac's ATS and the Tesla Model S are among the five finalists bidding to win the ‘Transportation' category at this year's Innovation by Design Awards, which celebrates groundbreaking designs from the past year. Established last year by design magazine Fast Company, the awards consist of eight different categories – 2D Design, Products, Interactive Experience, Transportation, Spaces, Social Good, Concepts and Student Design – and this year saw over 1,200 submissions from all over the world, from corporations all the way down to individuals' designs. After a jury of 24 experts from all design disciplines – including J Mays, Ford's vice president of design and chief creative officer – whittled them down to just 54 designs, the Cadillac ATS and the Tesla Model S are battling for their category award against three other designs from 2013.

Most of Saleen sold to Michigan group

The future of specialty carmaker Saleen Inc. is getting a little clearer: Most of the company was sold to a Michigan group last week after being on the block since November. An entity called MJ Acquisitions, which owns parts and engine companies in Michigan, bought Saleen’s performance street-car program, supercharger and aftermarket business from Los Angeles private-investment firm Hancock Park Associates.

VW's future: Jetta refresh, renamed SportWagen

Michael Horn is new enough to his U.S. assignment that he's still looking for a permanent home in suburban Washington for his family. But Volkswagen Group of America's new CEO hasn't had a moment to waste getting his corporate house in order.