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U.S. sales, aided by General Motors, show some real spark in October

U.S. light-vehicle sales--bolstered by General Motor Co.'s first gain in 21 months--declined less than 1 percent in October as the industry showed signs of a recovery without the aid of government incentives. The drop was the smallest this year and made October the year's strongest month aside from August, which received a lift from the federal cash-for-clunkers program.

Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

Golf Mk 6 bows out with new VW Golf R Cabriolet

Volkswagen is finally delivering the VW Golf R Cabriolet Mk 6, just as the Golf Mk 7 hits the road, but it does without 4WD. But it’s taken until now – 2013 and after the Mk 7 Golf arrived – for VW to fulfil the promise of more powerful open-top motoring in the Golf with the arrival – following a Golf R Cabrio tease video at the end of 2012 – to finally reveal it. Just as you’d expect, the Golf R Cabriolet is mechanically similar to the Golf R in that it gets the same 2.0 litre turbo four cylinder petrol engine that delivers its power through a six-speed dual-clutch auto box.