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MG Rover – Serious Fraud Office (SFO) to investigate

The Rover 75 Coupe - one of MG Rover's last big ideas before its collapse in 2005 MG Rover was bought from BMW for the princely sum of £10 after BMW had had enough of trying to make a viable company out of a business that was still undermined by the woes – and attitudes – of the British Leyland years. That £10 purchase price also came with £425 million in loans from BMW, so MG Rover had a chance. But the collapse, and the subsequent sale of the rights to the MG trademark to SAIC (Shanghai Automotive Industry Corporation), brought accusations that the ‘Phoenix Four’ – Directors and owners of MG Rover – has acted fraudulently when it was revealed they had acquired more than £40 million in pension rights, salary and assets in the intervening five years between purchase from BMW and collapse.

Bugatti sells its last Veyron

Bugatti has sold the last of its 300 Veyron 16.4 supercars. The customer of the final Veyron is based in Europe and is new to the Bugatti marque. Bugatti Veyron: the controversial king of the supercar world Volkswagen Group picked up the Bugatti name in 1998, following the 1995 bankruptcy of Romano Artioli's Modena-based Bugatti factory, which had produced the EB110 quad-turbo V12 supercar.

Official: New Hyundai Genesis coming to UK & Europe

The new Hyundai Genesis (pictured) IS coming to Europe We’ve long thought it was time for Hyundai to bring higher-end cars to the UK and Europe as the perception of their cars as budget offerings only has morphed in to an acceptance that Hyundai’s range of cars is actually a credible mainstream force. Now that looks set to happen. Last month we reported that it looked like Hyundai are planning on introducing the new Genesis in the UK after we learnt they had plans to build RHD Genesis for Australia, and Hyundai has now confirmed they will be launching Genesis in Europe next year.