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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.

Say Chevrolet--not Chevy--GM tells employees

From racetracks in the heartland to the iconic strains of “American Pie,” one word--Chevy--has transcended class and culture and helped raise the bow-tie brand to the lofty status as one of the most recognized in the world. But now, one of the most blue-collar and singularly American marques is going formal: General Motors has told its employees to use the world “Chevrolet” instead of the commonly used “Chevy” nickname. An internal memo distributed this week directs workers to use the official name in all communications, from official duties to simple conversations.

General Motors is seeking 'motivating, inspirational' CEO, Whitacre says

General Motors Co.'s board is looking inside and outside the automaker for “a motivating, inspirational leader” to be its next chief executive, said Ed Whitacre, chairman and interim CEO. Whitacre said candidates don't need to be an existing CEO or even have strong auto credentials. But he would like a strong leader.