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MG Rover – Serious Fraud Office (SFO) to investigate

The Rover 75 Coupe - one of MG Rover's last big ideas before its collapse in 2005 MG Rover was bought from BMW for the princely sum of £10 after BMW had had enough of trying to make a viable company out of a business that was still undermined by the woes – and attitudes – of the British Leyland years. That £10 purchase price also came with £425 million in loans from BMW, so MG Rover had a chance. But the collapse, and the subsequent sale of the rights to the MG trademark to SAIC (Shanghai Automotive Industry Corporation), brought accusations that the ‘Phoenix Four’ – Directors and owners of MG Rover – has acted fraudulently when it was revealed they had acquired more than £40 million in pension rights, salary and assets in the intervening five years between purchase from BMW and collapse.

SEAT Ibiza FR TDI announced

The three and five door versions of the SEAT Ibiza FR TDI ‘Sporty’ and Diesel’ were two words that never used to go together. But as diesel engines become more and more compelling car makers are keen to add performance diesel versions to their range. More torque and better fuel consumption are reason enough to run a diesel these days for a daily drive, but when performance figures actually make the diesel fun it’s hard to argue against.

Saab announces new China joint-venture

Following on from last week's collapsed Hawtai Motor Group deal, Saab owners Spyker Cars have announced a fresh collaboration agreement today with Pang Da Automobile Trade Co, a Chinese vehicle distributor. Saab and Panda Automobile Company? Sounds Mickey Mouse to me!