Edelmann 91873 Power Steering Pressure Hose on 2040-parts.com

GM completes sale of Saab to Spyker

General Motors today completed the sale of its Swedish Saab brand to Dutch luxury sports car maker Spyker Cars NV, marking the first successful sale of one of its four unwanted U.S. brands. The transaction combines Saab Automobile and its 3,400 employees with Spyker Cars and its 110-plus workers.

Some secured lenders object to quick sale of Chrysler

A minority group of Chrysler LLC secured lenders has objected in bankruptcy court to the quick sale of Chrysler to a new corporate entity led by Fiat S.p.A. The group of about 40 banks and hedge funds holds about $3 billion of the $6.9 billion in secured loans that Chrysler has with the banks. Four major New York banks holding $4 billion of that debt agreed last week to settle for $2 billion in payment for the $6.9 billion owed.

2014 Michelin Challenge Design jury meets to select winners

The 2014 Michelin Challenge Design judging panel has selected the top three entries of its ‘Driven/Undriven' contest after an intense two-day session at the Petersen Automotive Museum in Los Angeles. On the first day, the jurors discussed each individual submission before whittling them down to just 15 finalists. Their work will be presented at the North American International Auto Show (NAIAS) in Detroit in January 2014 as part of the Michelin Challenge Design exhibit.