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Spyker attempting to sell Saab real estate in money-raising move

The next chapter in the Saab cash crunch appears to involve Spyker selling Saab real estate to an unnamed financial institution, with the automaker leasing the property back for its operations. Saab has been forced to shut down production twice in the past few weeks in the wake of unpaid supplier bills, raising concerns that Dutch owner Spyker may be facing a liquidity crunch. The latest move is likely aimed at freeing capital for the automotive operations while the company negotiates for a loan with the help of the Swedish government.

TVR sold

By Tim Pollard Motor Industry 22 February 2007 10:30 Russian businessman Nikolai Smolenski is back in charge of the failed TVR business - and looks set to move production abroad. The deal was announced on Thursday evening, after the administrators PKF Partners struck a deal with Smolenski to buy TVR's assets for an undisclosed sum, thought to be in excess of £2m. The Russian businessman bought TVR in 2004 for around £15m, but sales stalled and the Blackpool factory crashed into administration at Christmas time.

Audi readying new crossover to rival the BMW X6

Audi has kicked off development of a new performance-orientated crossover model to directly counter the BMW X6. Set to be called the Q6 when it reaches North American showrooms, the five-seat crossover is rumored to be based around the same all-wheel-drive underpinnings as the second-generation Volkswagen Touareg and the Porsche Cayenne, both of which use a short-wheelbase version of the Volkswagen Group's so-called Colorado platform that in long-wheelbase guise is also used in the Audi Q7. Nothing has been made official, but in an interview with the German media at the Geneva motor show, Audi boss Rupert Stadler alluded to the crossover, saying, “We can imagine a model between the Q5 and the Q7 .