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Penske calls off Saturn deal, brand will close

IndyCar team owner and dealer magnate Roger Penske will not buy Saturn and the brand will be shuttered, General Motors said Wednesday. GM said Penske called off discussions after failing to line up more future products. Penske had been in talks with Renault for vehicles.

Fiat 500 Abarth USA: A sexy little number

Fiat 500 Abarth USA - Seduction Fiat had high hopes for the Fiat 500 in the US, hoping to emulate the success MINI has enjoyed by tickling the trendy button in US car buyers’ brains. But that plan hasn’t been an unmitigated success. Talk to car lovers in California and they’ll say there’s a Fiat 500 outside every coffee shop; same in New York.

Mercedes signs joint venture to build carbonfibre parts

Not to be outdone by BMW’s joint venture with the SGL Group to manufacturer commercially viable carbonfibre-reinforced plastic (CFRP) for the electric Megacity Vehicle, Mercedes has announced a joint venture with Japanese company Toray Industries to manufacturer and market its on CFRP automotive parts. The deal was signed in Germany today, with Toray taking a 50.1% stake, Daimler holding 44.9% and the remaining 5% being taken by other shareholders. The two companies started working together in March 2010, and while Toray has been working on the materials and moulding processes, Merc has designed the automotive parts and the technologies to join the parts together.