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Saab on brink of closing after GM rejects rescue plan

Saab Automobile filed for bankruptcy on Monday and is on the brink of shutting for good after former owner General Motors rejected a rescue plan. The move sets the scene for the end of Saab's struggle to survive after months of hastily drawn-up deals for a company that hasn't made a vehicle in months. The latest plan involved Chinese automaker Zhejiang Youngman Lotus Automobile, but this was vetoed by GM, still a key Saab supplier, over the weekend "After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded," Saab's Dutch owner, Swedish Automobile, said in a statement.

Civic hybrid tests Honda's new strategy

Despite being the first to sell an electric-gasoline car in the United States and making hybrid technology a centerpiece of its fuel economy push, Honda Motor Co. has yet to have a hybrid hit. But the redesigned Civic Hybrid, launched April 20, is the first test of whether Honda's new strategy of tapping lithium ion batteries and, later, two-motor systems can break the streak.

Spied: Cadillac XTS spotted testing

The Cadillac XTS is nothing new. We had our first look at the concept in 2009. Since then, we've seen it on auto show floors from Detroit to Beijing.