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Renault says Saturn supply deal ‘just didn't add up'

In the eleventh hour of Roger Penske's venture to acquire Saturn from General Motors Co. to keep the brand alive, Renault's executive committee in France concluded, “Ca fait deux.” Rough translation: “It's not going to come together.” Despite Penske's statements that his organization had been in discussions with automakers around the world, ultimately his hopes had been pinned on only one: Renault SA. Penske and Renault CEO Carlos Ghosn are friends and talk frequently.

VW to announce Italdesign takeover on Tuesday

Volkswagen will announce Tuesday that it will take a 90 percent stake in Italdesign Giugiaro S.p.A, people familiar with the matter told Automotive News Europe. The Giugiaro family will retain 10 percent in the Italian design house that is famous for styling cars such as the first-generation VW Golf. VW plans to acquire control of Italdesign to help reach its goal of becoming the world's largest automaker by 2018 with sales of 10 million vehicles a year.

Tesla Model S – new Photos

New pictures of the Tesla Model S Dogged by controversy over the claim that they could deliver the Model S for $50,000, Tesla are sticking to their guns and pushing forward with development. And if they do manage to bring the Model S in at their target price point they will probably be on to a winner. Even if you turn that $50k in to £50,000 the Model S will still be offering a huge amount of – very innovative – car for the money, and will have the BMW 5 Series, Mercedes E Class and Jaguar XF in its sights.