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Saab secures more funds as it seeks to avert collapse

Saab 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.

General Motors will prep plants in 2012 for next-generation pickups

General Motors will begin retooling assembly plants next year to build the next generation of its full-sized pickups, GM's U.S. sales chief Don Johnson said. "We have some scheduled plant downtime in 2012 as we convert to the next generation of our pickups," he said.

Roush unveils two 540-horsepower Mustangs

The go-fast guys at Roush tore the cover off two 540-hp 2010 Ford Mustangs today. The range-topping Stage 3 Mustang will be limited to 103 copies for 2010, while the 540RH will slot in as minimalistic approach to the iconic Pony Car for customizers. They both launch this fall.