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Saab on brink of closing after GM rejects rescue plan
Mon, 19 Dec 2011Saab 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.
Car production increases again
Thu, 19 Sep 2013THE SOCIETY of Motor Manufacturers and Traders (SMMT) said UK manufacturers built 91,282 cars in August, up 16.2%, or 12,705, on the same period in 2012, leaving year-to-date volumes 3.1% ahead of 2012, at 984,545. The figures showed 20,298 cars were made for the home market this year, up 21.1%, while 70,984 were for export, up 14.8%. SMMT chief executive Mike Hawes said: "The past 12-months has been one of the most productive since late 2008." Samuel Tombs, of consultancy Capital Economics, said the CBI figures showed the manufacturing sector "continuing to go from strength to strength".
Bentley Continental GT V8 Detroit debut and UK pricing
Mon, 09 Jan 2012Bentley Continental GT V8 - UK prices Today sees the public debut of the Bentley Continental GT V8 ( and GTC V8) at Detroit, and the reveal of UK prices - £123,850 for the GT V8 & £136,250 for the GTC V8. We got the reveal of the new Bentley Continental GT V8 – and the Continental GTC V8 – last month, ahead of its public unveiling at the Detroit Motor Show today. We also got the leak of some German prices for the Continental GT V8 just after Christmas, which we reckoned meant the UK GT V8 would start around £115k.