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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.

New Ford Fiesta ST starts production ahead of first deliveries in March

Ford has started production of the new Fiesta ST at its plant in Cologne ahead of first customer cars arriving in Ford’s UK showrooms in March. By the time the Fiesta ST arrived at the 2012 Geneva Motor Show it had turned in to a full production model – with little change from the concept – and we finally got UK prices for the Fiesta ST last month, with the promise that Ford would be getting the first STs to customers in March. That plan looks like it’s on track as Ford announce the Fiesta ST has now started to roll off the production line in Cologne (and even the first STs coming off the line get Ford’s orange statement paint job).

Can Horn get US Volkswagen sales back on track?

Volkswagen AG's German executives readily admit they are a bit baffled by America, where, despite decades of exertion, Volkswagen's namesake VW brand still doesn't rank as a marquee marque. So why would the automaker choose a German native and Wolfsburg veteran, Michael Horn, as the new CEO of Volkswagen Group of America, to succeed Jonathan Browning, 54, who is leaving at the end of the year? To VW insiders and U.S.