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Swedish court rejects Saab creditor-protection plea; Saab will appeal

A Swedish court on Thursday rejected an application by ailing carmaker Saab for protection from creditors to give it breathing space to solve a cash crisis and get funds from Chinese investors. The Vanersborg district court in western Sweden said in a statement on its Web site that there was no reason to believe a new creditor protection process, known as a reconstruction, would work. Saab said in a statement that it is disappointed with the ruling and will appeal the decision.

2009’s Fastest cars 0 to 60 mph: The AutoWeek list

Bugatti Veyron 16.4 0 to 60 mph: 2.6 sec (est) Base price: $1,500,000 Our take: The holy grail of power, the Veyron boasts more than 1,000 hp with four turbos. Lamborghini LP670-4 Superveloce 0 to 60 mph: 3.1 sec (est) Base price: TBA Our take: Soon to be released, the Superveloce promises to be the fastest bull ever. Koenigsegg CCX 0 to 60 mph: 3.1 sec Base price: $912,137 Our take: With CCX standing for Competition Coupe X, the Swedish Koenigsegg boasts more than 850 hp and a top speed of 245 mph.

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.