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Fourth Chinese Auto Design Competition launched

The fourth Chinese Auto Design Contest officially launched in Beijing last week. Sponsored by China's Society of Automotive Engineers, the China Industrial Design Association, the Beijing Municipal Science and Technology Commission and the Beijing Fengtai District People's Government, the competition is the largest and most authoritative state-level professional event. Held biennially, this year's Chinese Auto Design competition is divided into two categories: Design Innovation (which judges current vehicles created by automakers) and Creative Design.

Mercedes C63 AMG 'Edition 507' (2013) first official pictures

Mercedes has squeezed another 50bhp out of the C63 AMG, creating the 500bhp 'Edition 507' range. The power bump comes courtesy of forged pistons new connecting rods and a lightweight crankshaft inherited from the £160,000 SLS AMG supercar. Why is this special C63 AMG called the 'Edition 507'?

Smart's $99 loan deal has big balloon payment at end

Hoping to benefit from the federal cash-for-guzzlers program, Smart USA has set up a $99 monthly payment for buyers who use their $4,500 rebate. But there's a catch--and a hefty balloon payment disclosed only as a note to an asterisk in Smart's press information announcing the offer. The Smart financing is for $99 a month for 36 months, with a balloon payment of $6,667 due at the end.