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GM to drop plans for range-topping Cadillac sedan

General Motors has decided to deep-freeze a range-topping ultraluxury sedan it was developing for Cadillac, according to three people with knowledge of the company’s plans. GM executives recently concluded that the rear-wheel-drive car, which would have been a low-volume showstopper priced well north of $100,000, didn’t offer enough brand-building pizzazz to justify the investment, the sources said. Designers recently were taken off the program and reassigned.

Volvo S60 (2010) – first official photos

The first official picture of the 2010 Volvo S60 It’s been almost a year since we first reported on the Volvo S60. Volvo had released some teaser images of the S60 and we speculated – unkindly, as it turns out – that the teaser images would look nothing like the concept. But we were wrong.

Some secured lenders object to quick sale of Chrysler

A minority group of Chrysler LLC secured lenders has objected in bankruptcy court to the quick sale of Chrysler to a new corporate entity led by Fiat S.p.A. The group of about 40 banks and hedge funds holds about $3 billion of the $6.9 billion in secured loans that Chrysler has with the banks. Four major New York banks holding $4 billion of that debt agreed last week to settle for $2 billion in payment for the $6.9 billion owed.