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Toyota, Nissan shift gears and boost incentives

A day after announcing that its North American factories would be cranking up production sooner than expected, Toyota Motor Sales U.S.A. unveiled a series of regional cash, interest-rate, and lease incentives on most of its vehicles. Nissan Motor Co.

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.

2014 MINI Driver Assist Systems revealed

2014 MINI Driver Assist Systems revealed (heads-up display pictured) The 2014 MINI – an all-new MINI – is due to be revealed on 18th November – Sir Alex Issigonis’s 107th birthday – as MINI drives in to a new generation with a car that is all new and rather BMW under the skin. We’ve already seen what the new MINI will look like with the reveal of the MINI Vision Concept, and now we get to see some of the new technology the new MINI will offer, in particular its driver assist systems. MINI say the new driver assist systems will use intelligent networking to transform the new MINI in to a proper driver’s assistant, with technology that aims to inform and assist Making the most of BMW’s technology, the new MINI comes with a heads-up display that puts important information right in the driver’s line of sight, with a small folding screen on the dashboard displaying stuff like speed, Nav instructions, alerts and infotainment information.