Corvette Racing Program Manager Doug Fehan announced that Corvette chief Tom Wallace will be retiring from General Motors effective November 1st. This announcement was made at a Petersen Museum event honoring Corvette Racing history.

Some speculation suggests that Wallace's decision is related to the production plan of the C7 Corvette because he may not be willing to commit to the vehicle's extended launch schedule. The C7 was originally set for a 2012 model year launch, but it has reportedly been pushed back to 2014.

This announcement has come as a shock to many, especially since Wallace was always so dedicated to the Corvette marque. We had a chance to speak with Mr. Wallace last year at Laguna Seca while showing the winners of our "Be Corvette's Boss" contest a good time and really admired his enthusiasm for all things Corvette. Wallace's extensive knowledge of the performance car market will indeed be missed.

+ Autoblog: Corvette Chief Tom Wallace retiring (via Corvette Action Center)

http://imsaturn.com/profiles/blog/show?id=2033334%3ABlogPost%3A42511

Perhaps still on a high from recent dealings as a possible engine supplier for the vaunted Mercedes-Benz, Hyundai CEO Dr. Kim Dong-Jin is making some bold claims about the company’s upcoming range of hybrids and fuel cell cars.

Autocar reported in its print magazine that the good doctor said his green line would be “more advanced than the Prius,

Ford cleared one major hurdle in completing its sale of Jaguar and Land Rover to Indian automaker Tata on Wednesday, receiving the go-ahead from U.S. government antitrust officials.

Volkswagen reported yesterday that it had narrowed its list of possiblel locatins for a potential manufacturing facility in the U.S. The German automaker said that a final descision on whether or not to build in the U.S., and where, will come sometime this summer.

While Audi is still planning to bring forth a hotted-up version of its TT coupe by around 2010, the car’s name has been the subject of a little wrestling within the larger Volkswagen Group family.

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Members within the Volkswagen group seem to be getting pretty excited about the possibilities for the rear-engined Up! city car, but none more than Czech subsidiary Skoda.

60-year-old Geoff Polites, CEO of the Jaguar and Land Rover brands, passed away on Saturday in his home country of Australia. Reports indicate that he had been battling a serious illness for two years.

Volkswagen Chairman Ferdinand Piech controls a company that builds a wide swath of vehicle types, but there is one that the chairman still believes is missing…the motorcycle.

Electric sports car builder Tesla Motors is suing designer Henrik Fisker (pictured) and Bernhard Koehler of Fisker Coachbuild, for fraud, misappropriation of trade secrets, and breach of contract.

Despite recent reports from United Auto Workers officials and industry pundits, General Motors said yesterday that it would not soon run out of axles for its Chevrolet Malibu and Pontiac G6 sedans.

Chrysler and Nissan have announced a product-sharing deal that would ostensibly help to bolster each automaker where it is weakest in its North American product range.

The weak U.S. dollar continues to make America an attractive place for European manufactures to do an ever larger share of their business, with German carmaker BMW being no exception.

Germany’s Daimler said today that it was holding to its 2008 and medium-term earnings forecasts, saying that its focus on the premium market would help it to stay ahead of an economic slowdown.

After less than a year at the design helm of Alfa Romeo, a company whose long anticipated return to the United States is now imminent, the multinational Frank Stephenson is stepping down.