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Saab on brink of closing after GM rejects rescue plan

Saab Automobile filed for bankruptcy on Monday and is on the brink of shutting for good after former owner General Motors rejected a rescue plan. The move sets the scene for the end of Saab's struggle to survive after months of hastily drawn-up deals for a company that hasn't made a vehicle in months. The latest plan involved Chinese automaker Zhejiang Youngman Lotus Automobile, but this was vetoed by GM, still a key Saab supplier, over the weekend "After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded," Saab's Dutch owner, Swedish Automobile, said in a statement.

BMW previews new M4

BMW has revealed several retro-fit enhancements for the new 4-series coupe, part of its M-Performance line of options. In the process the company has provided the first clues to its upcoming M4's appearance; the M4 will replace the just-discontinued BMW M3, and sources tell Autoweek the new performance coupe will make its world debut at the Detroit auto show next January. The performance package consists of an aggressive aero kit, various interior trim upgrades and suspension modifications.

Mini and Mini Clubman John Cooper Works (2008): first official pictures

By Mark Nichol First Official Pictures 24 February 2008 00:01 Just take it in for a moment. That’s the Mini John Cooper Works you’re staring at, all 208bhp of it. Mini will unveil this steroidal version of the already beefy Cooper S at Geneva 2008 before opening the books in July, so get saving.  The Mini JCW extracts an extra 33bhp over the standard Cooper S by dumping the regular turbocharger and strapping on a bigger, twin-scroll unit.