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GM agrees to sell Saab to supercar company Koenigsegg

General Motors confirmed Tuesday morning that it has a tentative agreement to sell Saab to a group led by Swedish supercar maker Koenigsegg Automotive. The deal would close by the end of the third quarter and put Saab in the hands of an upstart, boutique car company known for producing eye-catching cars with gaudy horsepower ratings and even gaudier price tags. The agreement includes $600 million in financing from the European Investment Bank.

Maserati Alfieri (2016) confirmed; five-fold sales increase wanted

By Damion Smy Motor Industry 06 May 2014 18:08 Maserati boss Harald J Wester has confirmed that the Alfieri concept, shown at the 2014 Geneva motor show, will be built in both coupe and convertible forms. Following the announcement of Alfa Romeo’s plans, which see it share rear- and all-wheel drive platforms with Maserati, Wester confirmed production of Maserati’s Porsche 911 rival. The Alfieri will be offered in three guises, kicked off with a rear-drive entry-level model powered by a 410bhp V6, a mid-level 450bhp all-wheel drive version and a flagship 520bhp V6 all-wheel drive model.

Bentley and Bugatti get a new boss

Volkswagen said Audi's former development chief, Wolfgang Duerheimer, will head its Bentley and Bugatti brands. It will be Duerheimer's second stint at Britain-based Bentley and France-based Bugatti. In February 2011, he took the helm at both brands for 19 months, succeeding retiring chief Franz-Josef Paefgen.