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GM to shut down Saab

General Motors will shut down Saab after the automaker wasn't able to conclude a deal to sell the brand to Spyker Cars, GM said on Friday. “Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time," GM Europe president Nick Reilly said in a statement. "In order to maintain operations, Saab needed a quick resolution.

McLaren P1 sales will double turnover and quadruple profit in 2014 for McLaren

The McLaren P1 (pictured) boosts McLaren’s profits We’re starting to see the McLaren P1 – McLaren’s modern replacement for the iconic McLaren P1 – rolling out to lucky owners, and that will continue apace during 2014. Which means McLaren will see a big rise in its turnover and an even bigger rise in profits – up four-fold – as the £866,000 P1 replenishes McLaren’s bank account. But, although it will take a while to build, deliver and get paid for all 375 P1s, the P1 won’t be a long-term cash cow for McLaren, just a nice little booster as it starts to plan to up production to 4,500 cars a year over the next few years.

Renault Alpine A110-50 to be developed with Caterham

It seems the impressive Renault Alpine A110-50 is heading for production with Caterham, not Lotus, as development partner. Which is part of the reason Renault want a partner on-board to help with development and production of the Renault Alpine A110-50 – a new Alpine based on a Megane platform with a DeZir body – and turn it, hopefully, from a track concept to the first Alpine for the road in twenty years. It had been mooted that Renault were eyeing up Lotus to partner on the Alpine A110-50, but according to a report from Autocar they are instead working with Caterham to bring the A110-50 to life.