1957 Oldsmobile Factory Horns on 2040-parts.com

General Motors to shut down Saab

General Motors has announced that it will be closing the Saab brand after the company was unable to strike a deal with Spyker Cars. This follows from last month's withdrawal of would-be suitor Koenigsegg, leaving Spyker the sole contender in the acquisition of the ailing Swedish brand. According to Nick Reilly, GM's European president, the company has decided to cut its losses: "Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time.

VW Passat Alltrack 4motion (2012) goes on sale

Volkswagen is launching its own cut-price rival to those mud-loving Allroad models from Audi in May 2012 – the new Passat Alltrack 4motion. It's a Passat estate in a Barbour and green wellies, its ride height hoiked up and with 4motion all-wheel drive boosting traction for soft-roading and pulling horseboxes over slippery grass. VW quotes a two-tonne towing capacity – 200kg greater than an equivalent Passat estate.

1965 Shelby Daytona Cobra sells for $7.25 million at Monterey auction

The championship-winning 1965 Shelby Daytona Cobra Coupe CSX2601 sold for a record $7.25 million on Saturday at an auction in Monterey. The sale is believed to be a record for an American car at auction. Bob Bondurant drove it to victory in the 12 Heures du Reims--fittingly on the Fourth of July in 1965 to secure the FIA title.