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General Motors to shut down Saab

General Motors has announced that it will be closing the Saab brand after the company was unable to strike a deal with Spyker Cars. This follows from last month's withdrawal of would-be suitor Koenigsegg, leaving Spyker the sole contender in the acquisition of the ailing Swedish brand. According to Nick Reilly, GM's European president, the company has decided to cut its losses: "Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time.

Lamborghini Gallardo LP 570-4 Spyder Performante leaks

The Lamborghini Gallardo LP570-4-Spyder Performante at LA Lamborghini has commited to bringing a new model to every motor show. Sadly, that means a new model in whatever minor variation on a theme Sant’Agata can muster rather than an all new model. Still, a real new model every motor show would be pushing it even for Audi, and a new variant each motor show is still impressive from a company with just one current model – the Gallardo.

Jaguar Land Rover drops plans to close one of three England plants

Jaguar Land Rover said Friday it no longer plans to close one of its three auto plants in England after reaching an agreement with trade unions. The automaker, which Ford Motor Co. sold to India's Tata Motors in 2008, said it would be significantly increasing the number of models in its range and creating thousands of jobs over the next decade.