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The current situation over in Iran is pretty grim, what with major countries like the United States and Europe imposing new sanctions on the Middle Eastern country. The reason? International concern over the country's nuclear program.

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There has been no shortage of entrepreneurs over the last couple of decades hoping to play host to a Formula One race. But as many of them have discovered, hopping into bed with Bernie Ecclestone is a surefire way to prove Roger Penske's motorsports maxim: "The quickest way to make a small fortune in racing is to start with large fortune."

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Chevrolet Cruze WTCC - Click above image for high-res gallery

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Chinese-market 2010 Buick Regal – Click above for high-res image gallery

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Tato Nano Europa - Click above for a photo gallery

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Remember when F1 teams were independent racing outfits, before the major automakers starting buying them all up? Well, if the Honda/Brawn GP saga and the tightening of budgets at carmaker headquarters around the world are anything to go by, the Formula One world could be back at that stage sooner than you might think. But the next team to bridge that divide will be the nascent USF1 team that's scheduled to join the grid next year. Going the independent route, USF1 is reportedly seriously conside

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The Rabbit is currently the most fuel-efficient gasoline-powered vehicle in Volkswagen's U.S. fleet, getting around 26 mpg on the EPA's combined city/highway cycle. But V-Dub wants something better for the U.S. market. Speaking with Bloomberg, VW CEO, Stefan Jacoby revealed that the automaker is considering bringing a subcompact vehicle, similar to the Polo, to the U.S.

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Volvo hasn't been doing too hot lately, posting a $1.73 billion loss over the past five years as it flails to find its niche. Sales of almost every Volvo product have declined in 2007, with the S60 falling by 28.1 percent, the XC90 dropping 5.6 percent and the V70 station wagon losing 7.7 percent. For June of 2008, Volvo only moved 7,001 vehicles, down 14.2 percent compared to last year. Something has to be done on the retail side, and according to Automotive News, dealers are on their way out.

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Volkswagen's management will meet tomorrow to refine plans to expand automobile production into the United States. While a final recommendation isn't expected until July 15, Alabama appears to be the front runner (over second-choice Tennessee) to receive the $788 million plant that will initially build the Volkswagen Jetta sedan and an all-new Passat-sized sedan. VW is also rumored to be considering production of a long-wheelbase version of the Volkswagen Tiguan and the Audi's Q5 on our shores.

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Click image for a hi-res gallery of VW Polos

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It's a long way to travel between Italy and America. Not only is it how far Lamborghini road cars have to travel to meet their new owners here in the US, but it's also the divide American dealerships have had to bridge in order to provide the level of service that customers expect when dropping six figures on a new car. And that's a gap Sant'Agata intends to narrow with the establishment of Automobili Lamborghini America LLC.

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While other manufacturers are hurrying to move factories and parts suppliers to China, Chinese truck maker ChangAn is going the other way. Dallas-based Tiger Truck, the exclusive US importer of ChangAn vehicles, has announced plans to open an assembly plant in Jasper, TX. Tiger's vehicles are for off-road uses here in the US – applications such as groundskeeping, farming, and manufacturing. Tiger CEO Mike Ward is reportedly happy to be hiring U.S. workers and seeking contracts with US OEM

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