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GM grants Saab a reprieve, CEO Henderson resigns
Wed, 02 Dec 2009By Tim Pollard Motor Industry 02 December 2009 15:51 The board of General Motors has granted Saab a lifeline – by extending the deadline for bids on its stricken Swedish patient to 31 December 2009. GM has been trying to sell Saab for the past year, and the Swedish car maker has been under court bankruptcy protection since February 2009.GM chief executive officer Fritz Henderson also announced he was to stand down. His interim successor is hard-nosed GM chairman Ed Whitacre – meaning that GM Europe and the US mothership have both lost their bosses in a matter of weeks.
Ferrari 599XX sets Nurburgring record. Really? +video
Fri, 23 Apr 2010The Ferrari 599XX sets a Nurburgring record - video below We’ve brought you a number of ‘Nurburgring Record’ stories over the last year. It’s a big deal for car makers and adds kudos to their offerings. So it’s no surprise to see Ferrari pitching their hat in to the ring with the claim of a new Nurburgring record for the Ferrari 599XX.
Forecasters see slow auto-sales recovery through 2011
Tue, 05 Oct 2010U.S. auto sales in 2010 and 2011 will continue to crawl -- not walk or run -- out of last year's recession, according to forecasters at the Auto Industry Hot Topics Conference here. “It's going to be a long crawl out of this, but we're crawling in the right direction,” said David Wyss, chief economist for Standard & Poor's, which co-sponsored the conference along with J.D.