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Saab says it will restart production after securing short-term loan
Mon, 02 May 2011Saab aims to restart production within a week after its owner, Spyker Cars, secured a 30 million euro ($44.7 million) short-term loan to help ease its cash crunch. Spyker said it will borrow the money from Gemini Investment Fund in a convertible loan agreement with a 6-month maturity. The interest rate of the loan is 7 percent a year and the conversion price is 4.88 euros per share.
'Car Crazy' TV host Meguiar in serious condition
Wed, 18 Aug 2010A dark cloud hangs over the family of automotive enthusiasts who had enjoyed a sunny week of classic-car events on the Monterey Peninsula. AutoWeek has learned that Barry Meguiar, the self-described "car crazy" goodwill ambassador of the automotive hobby world and creator/host of the popular television show of the same, is in serious condition in the intensive care unit of Monterey Community Hospital. Details of his ailment were not released by the hospital.
Fiat 500 1.3 MultiJet Sport Review & Road Test Part 2
Thu, 17 Jun 2010The cute & stylish Fiat 500 dashboard Even though the 500 looks cute and cuddly – which it is – its innocent, retro look belies the fact that the 500 is a surprisingly good drive. A 1.3 diesel isn’t an engine I was expecting to be overly entertaining -even if it is one of Fiat’s new MultiJet jobs – but I was pleasantly surprised. Below 2000 rpm it’s a bit slow and sluggish and, if I am really honest, a bit of a let down.