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Used cars 'getting cheaper'

CONSUMERS holding on to their motor for longer are driving down the cost of used cars, according to new research. The average price for a second-hand car in July-September 2011 was £8,870 - a 2.4% decline compared with the same period a year ago, according to the Auto Trader company. It is the first time the price has dipped below £9,000 since the company started tracking the market in January 2010.

Saab owner and Chinese investors continue talks regarding takeover deal

Talks between Saab's owner Swedish Automobile and two Chinese investors on a takeover deal to rescue the ailing carmaker will continue even though a memorandum of understanding signed by the parties only runs until Tuesday, Saab said. "They (the parties) are still in discussions about the structure of the deal going forward and they are continuing their cooperation as if the memorandum of understanding continues," Gunilla Gustavs, a Saab spokeswoman, told Automotive News Europe. The Chinese companies, Pang Da Automobile Trade Co.

Michelin Challenge Design announces 2009 jury

Michelin Challenge Design, one of the world's top design competitions, has announced its panel of judges for 2009. The distinguished group of automotive design leaders will meet in July at Art Center College of Design in Pasadena, California, to select the vehicle designs and concepts for special exhibition at the 2009 North American International Auto Show (NAIAS) in Detroit next January. This year marks the eighth year for the international competition.