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Saab says it will restart production after securing short-term loan

Saab aims to restart production within a week after its owner, Spyker Cars, secured a 30 million euro ($44.7 million) short-term loan to help ease its cash crunch. Spyker said it will borrow the money from Gemini Investment Fund in a convertible loan agreement with a 6-month maturity. The interest rate of the loan is 7 percent a year and the conversion price is 4.88 euros per share.

Pagani Zonda R Evo revealed ahead of Goodwood FoS Debut (video)

Pagani appears ready to reveal an ‘Evo’ upgrade for the track only Zonda R at the Goodwood Festival of Speed 2012. If you thought the ‘launch’ of the Pagani Huayra meant the end of the Pagani Zonda, you’d be mistake. The Huayra is fraught with ongoing problems for Pagani – most of them legislative – which means very few have found their way in to the wild (perhaps, and only perhaps, just one customer car is in existence).

April new-car sales winners and losers

U.S. light-vehicle sales rose 8 percent to nearly 1.4 million in April, with strong retail sales and pent-up demand adding momentum to the industry's spring thaw. Among major automakers, Nissan Motor Co., Chrysler Group and Toyota Motor Corp.