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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.

2013 Honda CR-Z hybrid gets power boost

The slow-selling Honda CR-Z hybrid hatchback gets a new lithium-ion battery pack and more-powerful electric for the 2013 model year. The change from a nickel metal hydride battery pack helps boost output from the hybrid powertrain's electric motor from 10 kilowatts to 15 kilowatts. The powertrain's combined output is now rated at 130 hp at 6,000 rpm, up 8 hp from the 2012 model.

Jaguar C-X16 concept scoops 'Design Concept of the Year' award

The Jaguar C-X16 concept car has won Design Concept Car of the Year at the 2012 Scottish Car of the Year Awards. The two-seater concept – which acted as a teaser for the recently revealed production F-Type model – was first seen last year at the Frankfurt motor show and was designed to indicate Jaguar's future design direction. Collecting the award was Ian Callum, Jaguar's Director of Design, who said, "With the C-X16 concept, we set out to move Jaguar's award-winning design language on to the next generation, creating a car that is the very essence of future Jaguar performance." John Murdoch, association president, declared: "Many of these show stunners don't see the light of day but they are valuable for gauging public reaction to new ideas.