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General Motors CEO Rick Wagoner to quit, reports say

General Motors CEO Rick Wagoner is about to resign after eight years as the Obama administration prepares to decide on the automaker's request for additional government rescue loans, two people familiar with the matter said. A senior Obama administration official told NBC's John Yang that Wagoner, 56, was asked to step down by the White House. The automaker, which has lost about $82 billion since 2004, awaits word Monday from President Obama on a request for as much as $16.6 billion in additional U.S.

Toyota Yaris Hybrid-R concept (2013) first picture of 400bhp Yaris

Here’s the first image of Toyota’s new hot hatch concept: a Yaris Hybrid boasting a faintly ridiculous 400bhp power output. You won’t be surprised to learn the Yaris Hybrid-R isn’t intended for series production: it’s just a party piece to celebrate 5.5m worldwide Toyota hybrid sales since 1997, and point to future Toyota hybrids that the company says will offer faster performance and a grin-inducing drive. What powers the Toyota Yaris Hybrid-R concept?

Chrysler announces minivan recall for bearing and hub problem

The Chrysler Group is voluntarily recalling a small number of 2012 Chrysler Town & Country and Dodge Caravan minivans. The company says that some vehicles might be equipped with hub and bearing assemblies that were not fully machined, which could make them less durable. If the parts fail wheel separation could occur, possibly leading to a crash.