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GM agrees to sell Saab to supercar company Koenigsegg

General Motors confirmed Tuesday morning that it has a tentative agreement to sell Saab to a group led by Swedish supercar maker Koenigsegg Automotive. The deal would close by the end of the third quarter and put Saab in the hands of an upstart, boutique car company known for producing eye-catching cars with gaudy horsepower ratings and even gaudier price tags. The agreement includes $600 million in financing from the European Investment Bank.

Crunch watch Feb 09: the auto industry in crisis

By Tim Pollard, Ben Pulman and Ben Whitworth Motor Industry 02 March 2009 18:11 Monday 2 March• The Volkswagen Group announces a 5% rise in sales revenues in the 2008 tax year and a 3% increase in operating profits, up to €6.3 billion. Chairman Martin Winterkorn said the group's multi-brand strategy and low CO2 cars had helped sustain sales, although he admitted that 2009 would see a fall in demand and revenues (Volkswagen) Friday 27 February• Jaguar Land Rover announces a significant order for 13,000 cars from a Chinese business. It's a morale boost for JLR which has been hit by a slump in demand with the global slowdown (BBC News)• Opel this afternoon agreed to a restructuring plan designed to save as many jobs and factories as possible – but it needs a €3.3 billion lifeline from the state.

New Mercedes ML (2012) Revealed

The Mercedes ML grows up for 2012 The imminent demise of the big SUV has been predicted by the hair-shirt-wearing, green halo brigade for years, but cars like the new 2012 Mercedes ML are like every successful creation – they evolve to survive. So the news that’s come with the first photos of the 2012 ML that we will see the big Mercedes SUV sporting a lowly four-pot is much less of a shock than it would have been a few years ago. But it’s much less of a shock because four-pot turbos have evolved to give us more than a six-pot would have done just a few years before, which makes a 4-pot in a Mercedes ML almost appealing.