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New Smart ForTwo and ForFour set for 2014 unveil

Mercedes-Benz's struggling Smart city car division is seeking to add a new dimension to the urban driving experience with its third-generation ForTwo, currently undergoing the final phase of a three-year test and development program ahead of a planned unveiling mid next year. Set for North American launch in 2015, the ultra-compact two-seat hatchback represents a fresh chapter in operations for Smart, which has recently gained greater independence from parent company Mercedes-Benz as its boss, Annette Winkler, attempts to stem years of financial losses after almost a decade of rebuilding following its short-lived joint venture with Mitsubishi. The new ForTwo, known internally as project C453, has been developed in a joint engineering program with the upcoming second-generation ForFour and its sister car, the third-generation Renault Twingo.

Hendrick pays $1 million for first 2014 Corvette Stingray convertible

The first 2014 Chevrolet Corvette Stingray convertible sold Friday for $1 million at the Barrett-Jackson auction in Palm Beach, Fla., to car dealer and NASCAR team owner Rick Hendrick. Hendrick now has a pair of the seventh-generation Corvette after purchasing the first coupe for $1.05 million in January. Proceeds from the sale will benefit the Barbara Ann Karmanos Cancer Institute.

New Saab 9-5 Revealed

The new Saab 9-5 (2010) will launch at Frankfurt in September The new Saab 9-5 is very overdue. The current model is now 12 years old, and long due for replacement. But GM’s problems and now Saab’s takeover by Koenigsegg have conspired to delay the new 9-5, but it now looks clear that it will launch officially at Frankfurt in September.