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Koenigsegg signs deal to buy all of Saab

By Tim Pollard Motor Industry 18 August 2009 10:17 Supercar maker and industrial group Koenigsegg today announced it had signed the deal to buy every one of GM's shares in Saab. The news clears the way for Saab's rebirth as an independent car maker freed from the shackles of General Motors and follows an earlier memorandum of understanding. Koenigsegg has signed the stock purchase agreement to buy 100% of Saab – but there are still numerous hurdles before the deal completes 'in the next few months.' Exactly.

Art Center Car Classic features the world's great automobiles

It seems like we say this every year, but this year it's truly fitting: this was the best Art Center Car Classic ever. Consider that the show covered both ends of the Corvette spectrum, from Peter Brock and the rise of the original “Mitchell Corvette” -- which was right there parked on the grass -- to General Motors designer Pete Thomas and the new C7 parked not far away, with the Mako Shark and the '63 split-window Sting Ray lined up between. A couple car lengths from that was the debut of the finally finished Peter Mullin Bugatti Type 64, a spectacular re-imagining of Jean Bugatti's unfinished final car done by Art Center students and Transportation Design chair Stewart Reed.

Aston Martin Cygnet planned for 2011 production

Aston Martin said on Monday that the Cygnet--a reworked version of the Toyota iQ city car--will go into production in 2011. The Cygnet, which was shown as a concept car at the Geneva motor show in March, is just less than 10 feet long. "Our customers need a small car for urban and city use and they want the right tools for the right job, to downsize creatively without compromising intelligence, artistry and personality," said Aston Martin CEO Ulrich Bez.