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Saab gets latest lifeline via $5 million infusion from Chinese company

Saab has been on the edge of collapse since a cash shortage early this year forced it to halt production. Now Automotive News reports that a last-minute payment from China's Zhejiang Youngman Lotus Automobile has given the Swedish carmaker yet another shot. Youngman wants to get a stake in Saab and has taken the first step by giving the company $5 million to cover tax expenses, with another $26.43 million forthcoming for unpaid salaries and $13.18 million more before the end of December.

Renault cuts back UK range, axes Laguna, Espace, Modus

Renault UK today announced a dramatic shake-up of its range – it's axing all sales of the Laguna, Espace, Modus, Wind and Kangoo in the UK from February 2012. It's part of a big drive to improve profitability in Great Britain. It plans to stop the majority of its rental and Motability sales to improve profitability.

Autoweek in review: What you may have missed

It was a slower week in the newsroom as 2012 winded down. On Monday, we learned how motorcycles were coming back and got some ideas for last-minute holiday gifts. In the racing world, the Trans Am Series announced that it’s expanding the 2013 race schedule.