CEO Krafcik leaves Hyundai, succeded by Zuchowski

Hyundai Motor America said John Krafcik will step down as CEO at year end, capping a five-year run during which he steered the Hyundai brand to record U.S. sales and market share. Krafcik will be succeeded by Dave Zuchowski, currently Hyundai's executive vice president of U.S.

GM agrees to sell Saab to supercar company Koenigsegg

General Motors confirmed Tuesday morning that it has a tentative agreement to sell Saab to a group led by Swedish supercar maker Koenigsegg Automotive. The deal would close by the end of the third quarter and put Saab in the hands of an upstart, boutique car company known for producing eye-catching cars with gaudy horsepower ratings and even gaudier price tags. The agreement includes $600 million in financing from the European Investment Bank.

SPIED! 2012 Chrysler 300C SRT8

Looking for evidence that Chrysler is hard at work on a hot-rod version of the flagship 300C? Here’s the smoking gun. Spy shooters have captured the 300C SRT8 with no camouflage, and details are overwhelming that this is the halo four-door for Chrysler.