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Chrysler, CAW reach tentative contract deal

The Canadian Auto Workers tentatively agreed tonight to new concessions that will save the struggling automaker $240 million annually and help the carmaker to try to avoid a bankruptcy filing, CAW President Ken Lewenza said at a news conference. In exchange, the CAW got Chrysler and potential partner Fiat SpA to agree to keep its two Chrysler assembly plants open even if bankruptcy is unavoidable, Lewenza said. General Motors and Ford Motor Co., which signed new CAW agreements earlier, have indicated their desire to get the same concessions as those negotiated with Chrysler, Lewenza said.

Mercedes-Benz axes Maybach

High ranking Mercedes-Benz sources have confirmed to Autoweek that the underperforming Maybach brand will be officially killed off in 2013. The decision to disband Mercedes-Benz’s upper luxury marque comes after a decade of disappointing sales for the Maybach 57 and 62 and a recent decision from the German car maker’s chairman Dieter Zetsche not to push ahead with the development replacement models – the likes of which were tentatively due out in 2014 – owing to what one insider describes as a “positive move to focus greater attention on the Mercedes-Benz brand” . “We’ve come to the conclusion that it is better to cut our losses with Maybach than to continue into an uncertain future with a brand that has failed to live up to original sales expectations," the insider said.

Porsche 918 Spyder Hybrid Monterey +video

The Porsche 918 Spyder in Monterey Unless you’ve been locked in a cupboard for the last week, you can’t have failed to notice that this weekend the car world – or at least the upper echelons of the car world – has migrated to Monterey in California for a weekend of basking in the beauty that is the automobile, which culminated in the Pebble Beach Concourse d’elegance We’ve had a couple of premiers from Jaguar and a crash by Sir Stirling Moss; the US has acquainted itself with the Bugatti Veyron SuperSports and the Morgan Eva GT got its world premier. And Porsche took the 918 Spyder Hybrid to Monterey to let the world see it – and to pitch its wares to some of the wealthiest collectors on the planet. Which gives us the opportunity to bring you a VT of the Porsche 918 Spyder on the move.