61 62 63 64 Ford Galaxie Door Panel Courtesy Lights Interior Xl500 500xl 500 Xl 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.

As Winter Approaches 4x4 Values Are On The Rise

YOU know winter is here when the forecast is for rising 4x4 prices in the used market. Just like in summer when you can guarantee convertible premiums will rise faster than an electric roof, the prospect of rain, wind and snow is said to be driving up the values of sought after SUVs. According to data from British Car Auctions (BCA) the trend is already well advanced, with values in October showing a 7.3 per cent increase over September.

Bertone Jaguar B99 concept (2011) at 2011 Geneva motor show

Bertone has released details of its Jaguar B99 compact executive concept, which will debut at the 2011 Geneva motor show. Pen and paper ready? The B is for Bertone, and the 99 indicates 99 years since the founding of the firm.  Bertone has previous form in producing Jaguar concepts.