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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.

Earthquake auction Ferrari 599 XX Evo handed to Google’s Benjamin Sloss

The Ferrari 599 XX Evo auctioned by Ferrari to raise funds for the earthquake in the Emilia Romagna region has been handed to Benjamin Sloss of Google. Back in May, following the earthquake in the Emilia Romagna region of Italy, Ferrari ran an auction to raise funds to help victims of the earthquake’ Amongst the items put up for auction by Ferrari were an F60 nose-cone and an F2008 engine, but the star lot was a brand new Ferrari 599 XX Evo, Ferrari’s track-day only testbed for all things Maranello. The winner of the 599 XX Evo turns out to be a deep-pocketed Google VP – Benjamin Sloss – who forked out €1.4 million for his new plaything (which was almost a bargain price) and, as part of the auction offering, he was rewarded for his generosity with a presentation of his new Ferrari at last weekend’s Italian Grand Prix at Monza.

U.S. auto sales climb 14 percent in January

UPDATED: U.S. auto sales, led Toyota Motor Corp. and the Detroit 3, rose 14 percent in January, giving the industry a bigger lift to begin 2013 than analysts expected.