Disclosed are solvent borne thermosetting coating compositions that contain a curable polyester resin blended with an acrylic copolymer, a crosslinker, and a solvent. The polyester resin contains 2,2,4,4-tetramethyl-1,3-cyclobutanediol and exhibits good dry time, compatibility with acrylic resins, sag resistance and hardness development in a coating composition. The coating compositions can be used to prepare clear coat or pigmented coatings for automotive OEM, auto refinish, and other applications.