Saab is sold again: two Chinese makers buy Saab

Chinese car makers Pang Da and Youngman today agreed to buy Saab in its entirety from Swedish Automobile. It's the latest extraordinary twist in the saga of Saab, which has been technically bankrupt since September 2011 and built just 11,000 cars this year. The deal, which will see the Chinese car makers pay €100 million for Saab, has not yet however been signed and sealed.

Ford Euro tuning partner Mountune sets up shop in US

U.K.-based Ford tuner Mountune is opening up a satellite location in California. The company is not well known on this side of the Atlantic, but across the pond it enjoys the status of being Ford's official European tuning partner. Mountune will be offering high-performance racing components for a number of Ford vehicles in the states, and we're excited to see what they'll be able to do with the rabid Ford Focus ST and Fiesta ST models.

U.S. offers advance peek at 'cash for guzzlers' rules

Dealers participating in the "cash for guzzlers" program must visit www.cars.gov to find a list of facilities that may qualify for scrapping vehicles and then make sure the company can crush or shred trade-ins, according to preliminary rules on the Web site. The government posted the rules today for the program, designed to lift U.S. light-vehicle sales from 27-year lows.