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Fifth-generation BMW M5 teased in new video

BMW is preparing a fifth generation of the high-performance M5 sedan. We expect to get a turbocharged V8 making about 550 hp and a seven-speed dual-clutch transmission. BMW plans to roll out the new M5 at the Frankfurt motor show in September.

Toyota's global design chief Tokuo Fukuichi appointed president of Lexus

Toyota's global design chief Tokuo Fukuichi will be the first designer to sit on the company's board of directors when his appointment comes into effect on 1 April. Fukuichi will retain his position as global head of design for the Toyota, Lexus and Scion brands and will join the board after the general shareholders' meeting. His influence on Toyota's design direction over the last few years has been noticeable, particularly with Lexus, as the company strives to make its traditionally very conservative products a little more exciting.

Crunch watch Dec 09: the auto industry in crisis

Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour Wednesday 30 December 2009• Saab's PR chief told AN that GM is extending the deadline for a sale to 7 January – and the Trollhattan factory will resume limited manufacturing in early January to build the new 9-5 and some 9-3 cabrios (Automotive News, subscription required)• Last night Bloomberg reported a Saab board member claiming that the 31 December deadline for a Saab sale or closure 'is not holy'. If GM receives a bid that is 'sufficiently interesting', it'll extend the deadline, said the Saab suit (Automotive News, subscription required)• GM is offering massive discounts on Pontiac and Saturn cars, as it seeks to get rid of the remaining stock from these terminated brands.