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Britain becomes the engine room of Europe

By Nigel Wonnacott Motor Industry 26 June 2008 13:59 Britain makes twice as many engines each year as cars. Latest industry figures reveal more than 3.1 million petrol and diesel engines were produced at domestic plants in 2007, compared to just over 1.5 million cars. Output has soared recently, with more than half a million more engines leaving production lines in the last two years.

Koenigsegg backs out of deal to buy Saab

Swedish exotic-car maker Koenigsegg Group has canceled plans to buy Saab from General Motors. GM announced that the deal was off on Tuesday and gave no reason why the deal fell apart, nor did the automaker say what would happen to Saab. In a statement, GM CEO Fritz Henderson said: "We're obviously very disappointed with the decision to pull out of the Saab purchase.

Renault says Saturn supply deal ‘just didn't add up'

In the eleventh hour of Roger Penske's venture to acquire Saturn from General Motors Co. to keep the brand alive, Renault's executive committee in France concluded, “Ca fait deux.” Rough translation: “It's not going to come together.” Despite Penske's statements that his organization had been in discussions with automakers around the world, ultimately his hopes had been pinned on only one: Renault SA. Penske and Renault CEO Carlos Ghosn are friends and talk frequently.