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U.S. equity firm to invest $70 million in Saab
Thu, 20 Oct 2011Race-car fan and private-equity executive Alex Mascioli is pumping $70 million into Saab as the Swedish automaker works to stay afloat. Mascioli's firm, North Street Capitol, is buying $10 million in shares of Swedish Automobile, which owns Saab, and is also giving the company a $60 million loan to pay for the carmaker's reorganization. U.S.-based North Street Capital struck a deal in September to buy the Spyker sports-car business from Swedish Automobile for $44 million.
Scion introduces FR-S Release Series
Wed, 23 Apr 2014Scion introduced the first FR-S Release Series car, “drawing on track heritage and the expertise of Toyota Racing Development" at the New York auto show. The biggest change on the FR-S Release Series is the custom-designed aerodynamic work, including the front lip, rear spoiler and side skirts. It also gets Toyota Racing Development quad exhaust, lowering springs and a smart key with push-button start.
Driven: BMW X3
Fri, 04 Feb 2011The BMW X3 had the premium CUV market to itself when launched in 2004. Skip forward to the launch of the second generation and not only does the new version have a whole host of competitors for company, it also has to fit around its X1, X5 and X6 siblings. We took the 2011 BMW X3 (known internally as F25) to the Austrian Tyrol and spoke to its exterior designer, Erik Goplen, to find out if it still has the segment covered.