1997-99 Porsche Boxster 2.5 Crankshaft 996 102 011 06 on 2040-parts.com

Saab unable to pay wages as financing crisis deepens

Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.'  While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.

Porsche Panameras recalled for seatbelt fix

Porsche is recalling all 11,300 units of the 2010 Panamera to fix a problem with the front seatbelts. According to Porsche, the Panamera's seatbelt mounts could fail in a crash when the front seats are in the full forward position. No injuries have been reported.

Modified supercars at SEMA 2013 in pictures

The SEMA tuning and modified car show held in that centre of American excess, Las Vegas, is a melting pot for all things automotive. From trucks and busses to family saloons and hatchbacks, aftermarket tuning companies go to work making the wackiest modified versions of every type of vehicle around, showing off their wares at SEMA. Not even supercars are off limits.