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Volkswagen mulls another SUV

Volkswagen is considering adding another crossover to its product portfolio as it takes aim at ambitious sales targets in the United States and overseas markets. “It's a part of our vision for the future,” Volkswagen Group of America CEO Jonathan Browning said. The vehicle would have SUV-style cues, and Browning said it's being discussed by company brass.

Peugeot tease new sports saloon concept for Beijing Motor Show

Lurking under this cover is a new Peugeot Concept for the 2014 Beijing Motor Show Peugeot do good concepts, even if many don’t actually make it in to production. A case in point is the stunning Peugeot Onyx Concept we saw at the Paris Motor Show in 2012, which came with great styling, copper and carbon fibre bodywork, the use of unusual materials like crystal glass and compressed paper and a powertrain that used a 3.7 litre V8 at the back with an electric motor for added green credentials. Peugeot say their latest concept – which will debut at the Beijing Motor Show in April and is teased by the photo above – will use the same sort of innovative materials as the Onyx (which probably means it too will never see production) and preview the future of Peugeot’s styling.

Saab unable to pay wages as financing crisis deepens

Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.'  While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.