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Volvo Concept Universe

Taking center stage at the Shanghai Auto Show was the Volvo concept Universe.  As the first project done under Peter Horbury since his return to Volvo, and new owner Geely the car marks a departure from current design languages and returns to simple Scandinavian design. "The Concept Universe offers the world a sneak preview of what people can expect from our next top-of-the-line sedan," says Stefan Jacoby, President and CEO of Volvo Car Corporation.

Chinese bank may join Saab rescue deal

Saab's owner, Swedish Automobile, said on Monday it is discussions with a bank in China and Chinese automaker Zhejiang Youngman Lotus Automobile over a rescue deal for Saab. Reports had said on Sunday that the Bank of China would replace China's Pang Da as an investor in Saab, which is under bankruptcy protection. Swedish Automobile confirmed Monday that it is talking with Youngman and a bank in China about an equity interest, but did not name the bank.

Alfa Romeo future products: 4C, Giulia lead return to U.S. market

Sergio Marchionne, CEO of Fiat and Chrysler Group, says Alfa Romeo will return to the United States in late 2012. But if he makes the deadline, just a few units of the 4C limited-edition coupe would be on sale. Alfa's full return is now planned in mid-2013, about a half-year later than Marchionne's most recent timetable, with a compact crossover.