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Paris Motor Show 2006 - Preview
Mon, 18 Sep 2006The 2006 Paris Mondial de L'Automobile opens its doors with the media preview days starting September 28th and features a wealth of new concept and production cars. With around 1.4 million visitors expected, it remains the most popular automobile show in Europe and this year's major production releases will include the Nissan Qashqai, Volvo C30, new Mini, Mercedes CL and BMW X5. There's also a strong showing of concepts, especially from the French makers Peugeot, Citroen and Renault.
Saab unable to pay wages as financing crisis deepens
Fri, 24 Jun 2011Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.' While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.
2011 Lincoln MKS Spied: Slightly new look for automaker
Wed, 04 Mar 2009The Lincoln MKS sedan hasn't been on the market all that long, but Ford Motor Co. designers are locking down a freshening, likely for the 2011 model year. The bulk of the changes will happen to the front and rear fascia, and to some interior trim.