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GM agrees to sell Saab to supercar company Koenigsegg

General Motors confirmed Tuesday morning that it has a tentative agreement to sell Saab to a group led by Swedish supercar maker Koenigsegg Automotive. The deal would close by the end of the third quarter and put Saab in the hands of an upstart, boutique car company known for producing eye-catching cars with gaudy horsepower ratings and even gaudier price tags. The agreement includes $600 million in financing from the European Investment Bank.

Mazda MX-5 GT Concept debut at Goodwood Festival of Speed

A Mazda MX-5 GT with 205bhp is to debut at the Goodwood Festival of Speed to gauge customer reaction for a production GT. We do tend to think that MINI are the masters of the limited edition model, but Mazda come close with special editions of the MX-5. At Goodwood this week we’re going to be treated to the latest MX-5 special with the debut of the MX-5 GT, sporting 205 bhp from its naturally aspirated 2.0 litre.

Toyota's global design chief Tokuo Fukuichi appointed president of Lexus

Toyota's global design chief Tokuo Fukuichi will be the first designer to sit on the company's board of directors when his appointment comes into effect on 1 April. Fukuichi will retain his position as global head of design for the Toyota, Lexus and Scion brands and will join the board after the general shareholders' meeting. His influence on Toyota's design direction over the last few years has been noticeable, particularly with Lexus, as the company strives to make its traditionally very conservative products a little more exciting.