Volkswagen will unveil its first electric car by 2013, said CEO Martin Winterkorn on Friday. Winterkorn espouses the electric car movement, but has previously mentioned that he thinks it will take 15 to 20 years before EVs comprise a significant fraction of the market. That won’t stop VW from forging ahead with plans to control 1.0 [...]

Lexus has repeatedly refused to market a model below the $30,000 price point in the U.S., effectively saying it’s beneath the brand. But in Europe, where luxury knows no bounds, extending well into the compact segment, a small and somewhat less-expensive model may be a key element in becoming competitive with the likes of Audi, [...]