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Porsche CEO likely to bow to pressure to leave, report says

Porsche CEO Wendelin Wiedeking is likely to bow to pressure from the Porsche family to step down, a German newspaper report said on Wednesday. Business daily Handelsblatt said that the two parties had already reached agreement that the chief executive should go and that a formal decision could come by Thursday, when the company's supervisory board meets. The newspaper also said, however, that Wiedeking would fight to keep his job.

Japan automakers extend shutdowns as quake impact widens

Japan's seven big automakers are extending nationwide production shutdowns amid growing concern about supply chain interruptions, power shortages and export difficulties following the massive earthquake and tsunami that hammered northern Japan, killing thousands. Toyota Motor Corp., one of the few automakers with a major manufacturing presence in the quake zone, suspended all manufacturing--at both assembly and parts plants--on Monday and extended the shutdown through at least Wednesday as an added precaution. The company will lose output of roughly 40,000 vehicles over the three-day period, spokesman Dion Corbett said.

Pebble Beach Concours d’Elegance 2014 preview

The driving directions to the Pebble Beach Concours d’Elegance tell you that this is an event held in a very special place. Whether you’re arriving from San Francisco, Los Angeles, Santa Cruz or Monterey, Pebble Beach is one of the world’s premier automotive events. In the words of the organisers, “only the most beautiful and rare cars are invited to appear on the famed 18th fairway of Pebble Beach Golf Links”, with “connoisseurs of art and style” gathering to admire the masterpieces.