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Victor Muller sells Spyker sports cars to CPP

Supercar maker Spyker is to be sold. Coventry-based coachbuilder CPP has announced a memorandum of understanding (MOU) to buy Spyker Cars from Spyker Cars N.V, the holding company which owns Spyker and Saab. No. Saab remains under the ownership of Dutch company Spyker Cars N.V. This sale is of Spyker, the manufacturer of flamboyantly detailed mid-engined supercars. CPP has been supplying chassis and body panels for Spyker since the brand was relaunched in 2000, and completed an agreement to handle full manufacturing of the current range in 2009 – the production of Spyker cars moved from the Netherlands to Coventry in 2010.   The MOU, valued at €32m, will mean that CPP Global Holdings Ltd will become manufacturer and owner of Spyker – €15m will be paid straight away, with the remaining €17m paid over a six year 'earn-out' period.

MG3 supermini (2013) first official pictures

This is the MG’s new Fiesta-fighting supermini: the MG3. It’ll go on sale in late 2013 carrying Korean brand-challenging prices and what MG is touting as ‘a distinctive statement of modern British style’ aimed at young buyers. Though the 3 is more likely to draw in penny-pinching pensioners, given that MG’s past that is rather more evoctive than its present.

Paris Motor Show 2006

The Paris Motor Show has opened its doors with the media preview days. Production car debuts include the Nissan Qashqai, Audi R8, Volvo C30, new Mini, and Citroen C4 Picasso. Concepts included the Alfa 8C, Renault Nepta, Hyundai Arnejs, Citroen C-Metisse, Skoda Joyster, VW Iroc, Lancia Delta HPE and Peugeot 908RC.