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News watch November 2011: today's auto industry news
Tue, 29 Nov 2011Welcome 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-hour Tuesday 29 November 2011• Saab's UK division today filed for administration as it waits for funding from its would-be Chinese investors (Automotive News Europe) • In a statement, Saab GB said: 'Saab Great Britain Ltd filed for administration with the High Court in London... The board of Saab GB is of the opinion that administration gives the company and creditors the necessary legal protection until the required funding for the company has been secured'• Frantic negotiations continue between Saab owner Swedish Automobile and its Chinese suitors, Youngman and Pang Da, which signed an MOU to buy Saab for €100 million.
Porsche Carrera GT in Paul Walker crash had six owners in its cross-country life
Sun, 01 Dec 2013Always Evolving's Porsche Carerra GT -- recognizable for its unusual red color and black wheels -- is a difficult car to drive for even professionals, with one top driver calling its handling “scary." Those of us at Autoweek who have driven the car will likely concur. Always Evolving, a car race and tuner store operated by CEO Roger Rodas, a financial consultant who became friends and business partners with actor Paul Walker at a racetrack, acquired the car last spring, and used it often at car shows and in promotional ads. Rodas was driving when the car crashed, killing him and passenger Walker in a California business park Saturday afternoon.
Steve Earle out at Monterey Historics
Mon, 17 Aug 2009Steve Earle, the founder of the famed Monterey Historics, is done as the organizer of the event after 36 races. Earle and track officials were unable to iron out a new deal, making this year's races--run last weekend--his final lap. The future of the must-attend event for classic racing fans is now in question.