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Saab says it will restart production after securing short-term loan

Saab aims to restart production within a week after its owner, Spyker Cars, secured a 30 million euro ($44.7 million) short-term loan to help ease its cash crunch. Spyker said it will borrow the money from Gemini Investment Fund in a convertible loan agreement with a 6-month maturity. The interest rate of the loan is 7 percent a year and the conversion price is 4.88 euros per share.

2014 Corvette Stingray rated at 455 hp

The 2014 Chevrolet Corvette Stingray's 6.2-liter LT1 V8 engine has been rated at 455 hp at 6,000 rpm and 460 lb-ft of torque at 4,000 rpm -- the highest standard-power rating ever for the Corvette. An available performance-exhaust system boosts the rating up to 460 hp and 465 lb-ft of torque. Chevrolet says the new LT1 with standard exhaust has 25 more horsepower than the current Corvette's base LS3 6.2-liter engine, which is rated at 430 hp, and 41 lb-ft more torque compared with the 2013 model's 424 lb-ft.

Whos Where: Pierre Authier to become Vice President of Design for Opel/Vauxhall

 Pierre Authier is thought to become Vice President of Design for Opel/Vauxhall, leaving his current role as Peugeot Design Director, according to a source from within the PSA design department. The position has been up for grabs since the shock dismissal of Dave Lyon just days before he took up the position in Rüsselsheim, Germany last month. Authier has been at Peugeot since the start of his career in 1998, first working on the 307 model and most recently responsible for the well-received 208 supermini.