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Koenigsegg backs out of deal to buy Saab

Swedish exotic-car maker Koenigsegg Group has canceled plans to buy Saab from General Motors. GM announced that the deal was off on Tuesday and gave no reason why the deal fell apart, nor did the automaker say what would happen to Saab. In a statement, GM CEO Fritz Henderson said: "We're obviously very disappointed with the decision to pull out of the Saab purchase.

Updates for 2014 Toyota Land Cruiser

TOYOTA has updated its Land Cruiser 4x4 for 2014 with improvements to the standard specification and revised pricing. It now costs from £34,995 to buy a Land Cruiser and all 2014 models have a revised exterior look that includes reshaped bumpers and grille. There is also a new control panel inside for the on- and off-road driving systems.

Lamborghini Gallardo Spyder: RWD LP550-2 here in 2012

Sant'Agata plans a two-wheel drive version of the Lamborghini Gallardo Spyder – reflecting 2009's limited-series rear-wheel drive Balboni edition of the Gallardo coupe. Sales of the new rear-drive LP550-2 Spyder will start in early 2012, Lambo has confirmed to CAR. It will look the same as any other Gallardo convertible; the only changes will be to the hardware under the skin.