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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.

Aston Martin to bring back Lagonda

ASTON MARTIN is bringing back the Lagonda name, with the super saloon being offered for sale by invitation only. To be built at the company's plant at Gaydon in Warwickshire, the new car will be inspired by the Lagonda of 1976. Aston Martin is currently giving no indication of what the new Lagonda will cost other than saying that the price will be "commensurate with the car's exclusivity, quality and luxurious nature".

Koenigsegg One:1 (2014) first official pictures

By Ollie Kew First Official Pictures 28 February 2014 14:00 Stand well back. This is the Koengisegg One:1, and it may well need a team of lion-tamers to restrain it from leaping clean off its Geneva motor show stand and picking a fight with the McLaren P1, LaFerrari and Porsche 918. You’re looking at, according to Koenigsegg, the new fastest road car in the world.