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News watch April 2011: today's auto industry news

Come to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hourFriday 28 April 2011• Due to UK royal wedding national public holidays, CAR Online news coverage will be reduced until CAR reopens on Tuesday 3 May (CAR)• The Saab financial situation continues to develop. Both the Swedish National Debt Office and General Motors are said to have given their approval for the proposed lease-back sale of Saab property to investor Vladimir Antonov.

Chrysler and Fiat get a new logo, Dutch incorporation, UK tax shelter

Chrysler Group reported an increase in earnings for the fourth quarter as the launch of the2014 Jeep Cherokee and higher U.S. sales helped the automaker to its third straight annual profit. In a separate announcement today, Chrysler and Fiat said their combined company will be renamed Fiat Chrysler Automobiles NV.

Jaguar C-X75: Jaguar’s Hypercar stillborn

The Jaguar C-X75 hybrid hypercar will not go in to production. Jaguar cite the poor economic outlook is behind the decision to scrap the C-X75. But the gas turbines soon bit the dust as Jaguar realised the technology was just not mature enough for a production car, so they replaced the gas turbines with a 1.6 litre turbocharged and supercharged petrol engine charging the batteries that powered the two electric motors, one on each axle.