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Saab: On the edge of oblivion

Saab go in to meltdown We’ve had a statement in from Saab this morning telling us that they are now unable to pay their staff until they manage to get a bit of funding in. Didn’t they just get a pile of Euros in from Panga Da for a boat full of Saabs? According to two previous statements from Saab they received €30 million Euros at the end of May for 1,300 Saabs ordered by Pang Da, and another €15 million for a further 650 cars a week later.

Peugeot Citroen to buy Mitsubishi

It's being reported that PSA (Peugeot Citroen) are to take control of Mitsubishi Car makers have been fighting hard to survive in the last year or so as the landscape for their products goes through the biggest sea change ever. Fiat boss Sergio Marchionne was quoted as saying that if car makers didn’t rationalise and merge then they would go under. He sees a car making landscape with a handful of huge car makers and a plethora of very small ones – nothing in between.

2014 Subaru WRX STI sets new Isle of Man TT lap record

The new Subaru WRX STI set a new Isle of Man TT record lap Last month we reported that rally driver Mark Higgins was heading back to the Isle of Man in an almost standard Subaru WRX STI to have a crack at breaking the record he set on the TT course in 2011 in the last WRX STI. The 2011 lap record Higgins set was the first time the record had been broken in 21 years, a record set by Tony Pond in 1990 in a Rover 827 Vitesse in a stunning drive in a less than ideal car for the task. Mark Higgins, perhaps unsurprisingly, blitzed Tony Pond’s 100mph average speed round the TT course and turned in a time of 19:56.7 at an average speed of 113mph.