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VW to buy Italdesign Giugiaro, sources say

Volkswagen AG will buy a controlling stake in Italy's largest design and engineering firm, Italdesign Giugiaro S.p.A., two industry sources confirmed to Automotive News Europe. One of the sources said that an announcement could come as early as next week. Italdesign and VW representatives declined to comment.

Saab ends deal with Chinese investors

Saab owner Swedish Automobile scrapped a $340 million investment deal with Chinese automotive companies Zhejiang Youngman Lotus and Pang Da after they proposed a buyout, straying from the original deal. Youngman and Pang Da signed a nonbinding agreement in July to take a combined 53.9 percent stake in Swedish Automobile. The Chinese companies say circumstances have changed since that time, so the deal should too.

Mercedes-Benz S63 AMG Coupe steps out before New York auto show debut

Following the unveiling of the striking S550 Coupe at the recent Geneva motor show, Mercedes-Benz has now taken the wraps off the even more powerful S-class two-door: The 2015 S63 AMG Coupe. It's set to make a public debut at the upcoming New York auto show. The plush, leather-lined four-seater, which will lock horns with the Bentley Continental GT when North American sales get underway later this year, runs a carryover twin-turbocharged 5.5-liter V8 engine from its predecessor, the CL63 AMG.