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Aston Martin Cygnet preview

Aston Martin has developed a new 'innovative commuter concept car' called the Cygnet. If you're thinking it looks like the design team's placed a downsized Aston Martin grille onto a Toyota iQ, you wouldn't be far off. The luxury commuter concept, which Aston Martin claims will 'offer customers a distinctive, intelligent and exclusive solution for urban travel in style and luxury' is actually based on the diminutive urban runabout and was created in collaboration with the Japanese automaker.

Karmann files for insolvency

Karmann, the century-old German coachbuilder synonymous with cabrios and the famous 1950s Karmann Ghia, has filed for insolvency. The company made the move Wednesday in Germany in response to a dramatic decline in revenue, an inability to pay for its massive layoff plan and the worldwide economic crisis. The North American operations, which make convertible tops for Detroit car companies and Volkswagen, are not affected, a spokesman said.

'Project paradise' up for grabs

IT COULD be project paradise for keen car owners this month, when a series of fabulous cars in need of restoration go under the hammer. The Anglia Car Auctions Classic event will take in project cars from across the decades, with one amazing lot more than 100 years old. There are sought-after Alfa Romeos, including a 1978 Alfasud that was raced by former British Touring Car champion Steve Soper and a 1988 Spider, the latter of which has an estimate of just £500.