Corvette 1954 1956 1958 1960 1962 Tie Rod Tube Clamps 1955 1957 1959 1961 Gm on 2040-parts.com

Saab on brink of closing after GM rejects rescue plan

Saab Automobile filed for bankruptcy on Monday and is on the brink of shutting for good after former owner General Motors rejected a rescue plan. The move sets the scene for the end of Saab's struggle to survive after months of hastily drawn-up deals for a company that hasn't made a vehicle in months. The latest plan involved Chinese automaker Zhejiang Youngman Lotus Automobile, but this was vetoed by GM, still a key Saab supplier, over the weekend "After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded," Saab's Dutch owner, Swedish Automobile, said in a statement.

First new Saab rolls off the production line

A NEW SAAB car has rolled off the Swedish production line for the first time in two and a half years. National Electric Vehicle Sweden, the Hong Kong-based company that bought Saab out of bankruptcy in September last year, presented its new 9-3 Aero at the factory in Trollhattan. The company, also called NEVS, aims to make electric cars under the Saab brand, but said it will also provide petrol cars until "electric cars fully meet customer demands." The first 200 cars will be delivered in spring costing 279,000 kronor (£26,000) each.

1884 De Dion Runabout sells for $4.62 million at RM auction

Two weeks ago we told you about one of the world's oldest running motor cars going up for auction in Hershey, Pa. That car, the 1884 De Dion Bouton Et Trepardoux Dos-A-Dos Steam Runabout, sold on Oct. 7 for more than double its estimated price--a cool $4.62 million.