Yamaha Lub-mrnmd-kt-10 on 2040-parts.com

VW to announce Italdesign takeover on Tuesday

Volkswagen will announce Tuesday that it will take a 90 percent stake in Italdesign Giugiaro S.p.A, people familiar with the matter told Automotive News Europe. The Giugiaro family will retain 10 percent in the Italian design house that is famous for styling cars such as the first-generation VW Golf. VW plans to acquire control of Italdesign to help reach its goal of becoming the world's largest automaker by 2018 with sales of 10 million vehicles a year.

Legally Binding: Senate proclaims July 9 collector-car appreciation day

Now here's legislation we can all get behind: The Senate has passed a resolution designating July 9 as Collector Car Appreciation Day across the land. That's a Friday, meaning enthusiasts everywhere have a great excuse to drive to work in their favorite classic or vintage car--or to take the day off and simply drive. Or to wrench on that jalopy so one day, it will run again.

GM may extend Saab deadline, report says

General Motors is prepared to wait beyond the end of this week before deciding on the future of Saab as it reviews remaining bids, Bloomberg News reported. The news agency quoted Saab board member Paul Aakerlund as saying that if there is a bid that GM finds sufficiently interesting, then GM's Dec. 31 decision to wind down its Swedish unit "is not a date that's holy.” Aakerlund said GM told Saab last week that it would wind down Saab and simultaneously continue talks with bidders about a sale, said Aakerlund, who also heads the IF Metall union at Saab.