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Saab seeks court protection from creditors

Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.

VW Golf R Launched

The Volkswagen Golf R has launched at Frankfurt Update 31/10/09: VW Golf R UK Detail now released. We reported yesterday on much of the detail on the new Golf R, but the Golf is such a big deal for so many that we thought we ought to re-iterate, throw in a few pictures of the Golf R on the floor at Frankfurt and re-cap on the goodies on offer. The Golf R gets the same powerplant as the Scirocco R, but it also adds Volkswagen’s 4Motion AWD to the mix.

Fiat Bravo Xtreme at Sao Paulo Motor Show

Fiat has shown an extreme version of the Bravo – the Fiat Bravo Xtreme – at the Sao Paulo Motor Show in Brazil. With the exception of the 500, Fiat’s cars in Europe are not exactly on a roll. Nothing new is really happening on the new model front with Sergio Marchionne hunkered down to try and weather the sales slump, but things are a bit brighter for Fiat in South America.