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Geneva Show 2014: Hot Audi S1 arrives

ONE OF THE smallest cars on the Audi stand at the Geneva Motor Show was also grabbing the most attention, as the German firm unveiled the new S1. Based on the A1, the smallest Audi in the range, the S1 also takes inspiration from the strictly limited edition A1 Quattro that appeared in 2012. Packing a turbocharged 2.0-litre engine under its compact bonnet it is comfortably the fastest A1 in production, with a top speed limited to 155mph and 0-62mph taking 5.8 seconds.

Porsche says 1952 356 Cabriolet is oldest one sold in the U.S.

A 1952 Porsche 356 cabriolet owned by Robert Wilson of Oklahoma City, Okla., has been named the winner of a contest to find the oldest Porsche sold in America. Porsche Cars North America ran the contest, which asked owners to submit documentation showing when their cars were first sold, as part of its celebration of 60 years of selling cars in the United States. Wilson's car, which he found in a salvage yard, was imported in November 1952 by Max Hoffman, who started bringing Porsches to the United States in 1950.

Karmann files for insolvency

Karmann, the century-old German coachbuilder synonymous with cabrios and the famous 1950s Karmann Ghia, has filed for insolvency. The company made the move Wednesday in Germany in response to a dramatic decline in revenue, an inability to pay for its massive layoff plan and the worldwide economic crisis. The North American operations, which make convertible tops for Detroit car companies and Volkswagen, are not affected, a spokesman said.