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Saab secures more funds as it seeks to avert collapse
Mon, 27 Jun 2011Saab parent Swedish Automobiles has found another financial lifeline in China as the struggling carmaker faces possible legal action from unions over unpaid wages. In a statement this morning, Swedish Automobiles announced that an un-named Chinese firm has placed an order for 582 Saab vehicles, valued at 13 million Euro (£11.5m) with full pre-payment 'expected to be made this week'. Saab plans to use the funds to pay wages and begin partial payments to component suppliers in order to restart production. Saab's financial crisis: the current situation.
Chinese storm the US
Mon, 14 Jan 2008By Liz Turner Motor Industry 14 January 2008 21:31 Two years ago, the Chinese manufacturer, Geely, parked a single saloon in the foyer of the Cobo Exhibition Centre for the auto show press day. This year five Chinese manufacturers are presenting their wares, and all have ambitions to start selling them here. Some are seeking co-operative deals with established companies, but none want the role taken by Chery, producing cars designed and engineered by Chrysler.
News watch September 2011: today's auto industry news
Fri, 30 Sep 2011Come 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 30 September 2011• Toyota and Honda have both returned to full production after Easter's disastrous earthquake. September car sales will be released next week, and Bloomberg predicts a rise to 12.8 million seasonally adjusted annual rate (Bloomberg)• The US now predicts a slightly smaller 2011 full-year sales total.