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Mercedes S Class production cut as sales fall

Mercedes is cutting production of the range topping S Class to a one shift operation as sales fall ahead of the new 2013 S Class. But there are now plenty of signs that even premium car makers are not immune from the economic climate – particularly in Europe – as sales start to slide. We recently commented that Jaguar sales are not as strong as they were and now it seems Mercedes is starting to feel the punch as sales of the range-topping S Class falter.

Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.

Google driverless car will let you speed

Driverless cars are so clever, aren’t they? The potential to whisk us along in total comfort and relaxation while a silicon chip takes care of the driving may sound like bliss to some. However, despite recent news that self-driving cars will be legally allowed on our roads as early as next year, they might not be as clean cut and infallible as you might think.