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Victor Muller sells Spyker sports cars to CPP

Supercar maker Spyker is to be sold. Coventry-based coachbuilder CPP has announced a memorandum of understanding (MOU) to buy Spyker Cars from Spyker Cars N.V, the holding company which owns Spyker and Saab. No. Saab remains under the ownership of Dutch company Spyker Cars N.V. This sale is of Spyker, the manufacturer of flamboyantly detailed mid-engined supercars. CPP has been supplying chassis and body panels for Spyker since the brand was relaunched in 2000, and completed an agreement to handle full manufacturing of the current range in 2009 – the production of Spyker cars moved from the Netherlands to Coventry in 2010.   The MOU, valued at €32m, will mean that CPP Global Holdings Ltd will become manufacturer and owner of Spyker – €15m will be paid straight away, with the remaining €17m paid over a six year 'earn-out' period.

Volvo designer Peter Horbury moves to China's Geely Group

Volvo Car Corp. styling chief Peter Horbury is moving to the Swedish automaker's sister brand, Geely Group, as senior vice president design. A decision on who will succeed Horbury as Volvo head of design has not been made.

New MINI 5-door Hatch revealed – but will you fit through the back doors?

The 5-door MINI hatch arrives We’ve already had the more BMW-like new MINI arrive, and now, for the first time, we get a MINI 5-door hatch to try and extend the appeal of the MINI range to families. The 5-door MINI gets an extra 72mm in the wheelbase and a pair of doors at the back – which do look very tight for full-size people to use – and there’s also an extra 15mm of headroom, a bigger boot and seating for three in the back. In terms of design, there’s little to choose between the 5-door and the 3-door, but the new 5-door does look a bit like the off-spring of the new MINI and the Countryman; just a little dumpy.