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Wiedeking to be offered $140 million to quit Porsche, report says

Porsche CEO Wendelin Wiedeking could be offered a $141 million (100 million euros) payoff to quit the sports car maker to make way for a merger with Volkswagen, Germany's Sueddeutsche Zeitung newspaper reported Friday. The newspaper said Wiedeking has been visited by Porsche Chairman Wolfgang Porsche in the past few days, who “made it clear” that the embattled CEO should step down. Wiedeking has come under fire for allowing Porsche's holding company to amass debts of more than $12.7 billion (9 billion euros) during a failed attempt to take over VW.

The Hongqi L5 is the most expensive Chinese car you can buy

China's oldest car company rolled out its first vehicle on Aug. 1, 1958; it was a chrome-lined black sedan designed -- like the pastiche of 1950s cars it resembled, including the Packard-esque Chaika -- to strike equal amounts of fear and inspiration into the revolutionaries. In Chinese, "Hongqi" in means "red flag," the most potent symbol of the Chinese Communist Party, making it a fitting name for a company that supplied the apparatchik.

Peugeot 208 XY Concept (2012) first official pictures

This is the Peugeot 208 XY Concept, which will be unveiled at the Geneva motor show in March 2012. It’s designed to be something very different from the 208 GTi concept that Peugeot will also unveil in Geneva. And that is?