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Lamborghini 'their choice' says Webb

IT WILL be up to pensioners whether they spend their retirement pot on a Lamborghini, Pensions Minister Steve Webb said as he defended a relaxation of rules announced in the Budget. Critics have warned that allowing pensioners to draw down the cash rather than being forced to buy an annuity will result in some blowing the fund and relying solely on state help. The luxury Italian sport cars sell for six-figure sums.

Spyker stretches the C8 Laviolette to make the Spyker C8 Aileron

But those problems faded last year when Spyker got solid investment from a Russian banker. Which means Spyker can once more push forward after a period of struggle, although what impact the crisis engulfing the car market in general will have is anybody’s guess. Spyker C8 Aileron - a stretched C8 Laviolette We had half expected the story at Geneva for Spyker to be the reveal of the Spyker SUV – the Spyker D12 Peking-Paris – in something close to production ready state.

Crunch watch Nov 09: the auto industry in crisis

Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour Monday 30 November 2009• Saab's future is likely to become clearer tomorrow when the GM board meets in Detroit. It will have to decide whether to seek a new buyer or put Saab into liquidation (Financial Times)• Don't rule out an eastern bid for Saab: Beijing Automotive is still interested in buying the Swedish car maker despite its joint bid with Koenigsegg hitting the rocks, reports Automotive News.