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MG Rover – Serious Fraud Office (SFO) to investigate

The Rover 75 Coupe - one of MG Rover's last big ideas before its collapse in 2005 MG Rover was bought from BMW for the princely sum of £10 after BMW had had enough of trying to make a viable company out of a business that was still undermined by the woes – and attitudes – of the British Leyland years. That £10 purchase price also came with £425 million in loans from BMW, so MG Rover had a chance. But the collapse, and the subsequent sale of the rights to the MG trademark to SAIC (Shanghai Automotive Industry Corporation), brought accusations that the ‘Phoenix Four’ – Directors and owners of MG Rover – has acted fraudulently when it was revealed they had acquired more than £40 million in pension rights, salary and assets in the intervening five years between purchase from BMW and collapse.

UK Car Production Plummets

UK Car production down 47.5% in December [ad#ad-1] We knew that car sales had a rocky ride in the last quarter of 2008. And we knew that car makers across the world were cutting production levels to cope with the huge stock of cars they had. But figures just released show how dramatic the fall-off in car production has been.

Tesla Model S accused of unintended acceleration

The National Highway Traffic and Safety Administration received a complaint on Tuesday for the unintended acceleration of a Tesla Model S. We haven't heard much of that term since the large Toyota recall in 2009. Before that it was with Audi in the 1980s.