Auto News 5

Volkswagen CEO Martin Winterkorn reportedly plans to retire in the next three to four years. Full story...

GAZ is planning a joint venture with China's FAW Group to produce trucks in the Urals, the Russian company's president Bo Andersson has told the Reuters news agency. Full story...

French tiremaker Michelin unveiled a deeply discounted 1.2 billion euros ($1.6 billion) rights issue to fund growth in booming emerging markets and set new long-term sales and profit goals. Full story...

PSA will unveil the world's first diesel-electric car at the Paris auto show this week to take on Renault's all-electric strategy as both French carmakers play catch-up to Toyota. Full story...

Nissan Motor Co. premium brand Infiniti plans to launch its first full-electric car in 2013. Full story...

BMW will offer chief executive Norbert Reithofer a five-year contract extension at a meeting on Wednesday, a German newspaper reported. Full story...

Reaction to the IPL G Cabrio Concept at the Paris auto show will determine whether Infiniti will challenge Audi's S, BMW's M and Mercedes-Benz's AMG models in Europe. The IPL G Cabrio Concept has a 3. Full story...

Chrysler Group fired 13 workers at a Detroit assembly plant after a local television station report showed some of them drinking on their lunch breaks. Two other workers were also suspended for a month without pay, the automaker said. Full story...

BMW will offer chief executive Norbert Reithofer a five-year contract extension at a meeting on Wednesday, a German newspaper reported. Full story...

A UAW-management détente at the Chevrolet Cruze assembly plant in Ohio has been restored following allegations that GM used outside workers to make factory repairs on the cars, union Local 1112 President Jim Graham said. Full story...

Life is short, too short. Some of us realize this fact and act upon it. Some may choose to live a cozy life unburdened by material possessions while others, perhaps those that have a few more $$ in their accounts, may choose to live it up and amass large quantities of goods. Like most, I tend to collect articles that bring me a tangible level of joy. This joy complements what is nearest and dearest to me; my family including my wife and cats, Molly and Jigg. Full story...

Williams' technical director Sam Michael has scoffed at Red Bull's claim that the Renault engines in the rear of the championship-leading RB6 are significantly down on power. Full story...

After teaming up with KV Racing Technology for the IZOD IndyCar Series' 2010 season, Lotus Motorsport has announced that it will expand its collaboration with the team next year. Full story...

Group Lotus has announced that it will design and build a LMP2 car in order to enter 2012 Le Mans 24 Hours. Full story...

Speed is not as important anymore, at least according to a September 14th manifesto signed by none other than Lamborghini SpA President and CEO Stephan Winkelmann. Full story...

The time is right: The wait is over. Scion rolls into Canada today, with 45 dealers in Montreal, Toronto and Vancouver, bringing vehicles and a new automotive experience to young, style-conscious Canadian drivers. "There's a new demographic of drivers in Canada - younger drivers who demand a new type of vehicle and a new style of doing business. And today, they can finally get that from Scion," said Larry Hutchinson, Director of Scion in Canada. "Scion now offers a full line-up of distinctively styled, well-equipped models, a unique in-dealer and online experience, and a new business model designed to address the needs of a new generation." Full story...

Volkswagen of America announced that the 2011 Touareg lineup will include three powertrains - a supercharged hybrid with 3.0L V6 TSI, a 3.0L V6 TDI Clean Diesel and a gas-powered 3.6L V6 FSI. The hybrid variant won't be available in Canada, however. Thomas Tetzlaff, Public Relations Manager at VW Canada, told Auto123.com: "We have decided to launch our hybrid solution with the Jetta in 2012. It represents volumes that we can support properly." Full story...

A major topic of conversation during a team bosses meeting in Singapore was the so-called Resource Restriction Agreement. Full story...

Race organisers hit back amid widespread reports the inaugural Korean grand prix was in real danger of being called off. Full story...

Max Biaggi (Aprilia) has won the 2010 World Superbike Championship with one round still remaining while Carlos Checa (Ducati) wins the Imola doubleheader. Full story...