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UK new car sales hit a 10-year high

UK new car sales continue to scale new heights, with more new cars sold in March 2014 than in any month in the past decade. Sales figures released by the Society of Motor Manufacturers and Traders (SMMT) reveal that 464,824 new cars were registered last month – a 17.7% rise over March 2014. It continues the trend of rocketing sales, with year-to-date registrations up 13.7%.

Saab unable to pay wages as financing crisis deepens

Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.'  While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.

Bentley SUV to show at Beijing unchanged

Bentley SUV to show at Beijing unchanged Despite a less than overwhelming endorsement at Geneva, Bentley are planning to take their SUV concept to the Beijing Motor Show unchanged. It does make sense for Bentley to build an SUV. But does it make sense for them to put the SUV concept from this year’s Geneva Motor Show in to production as it is?