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Koenigsegg signs deal to buy all of Saab
Tue, 18 Aug 2009By Tim Pollard Motor Industry 18 August 2009 10:17 Supercar maker and industrial group Koenigsegg today announced it had signed the deal to buy every one of GM's shares in Saab. The news clears the way for Saab's rebirth as an independent car maker freed from the shackles of General Motors and follows an earlier memorandum of understanding. Koenigsegg has signed the stock purchase agreement to buy 100% of Saab – but there are still numerous hurdles before the deal completes 'in the next few months.' Exactly.
GM covers partial repair cost for defective fuel-level sensors
Fri, 07 Oct 2011General Motors has said it will cover half the cost for repairing defective fuel gauges in 2005- through 2009- model-year Chevrolet, Buick, GMC and Saab 9-7X sport-utility vehicles. GM's agreement to pay half the repair costs puts an end to the National Highway Traffic Safety Administration's probe, opened earlier this year. NHSTA was checking into reports that the gauges showed there was more gas in the tank than there actually was.
Great British cars immortalised on Royal Mail stamps
Tue, 13 Aug 2013Throughout the 20th century a series of great British cars have put their stamp on the world, now the Royal Mail has put some of these iconic motors on stamps. The Auto Legends stamp collection celebrates the six thoroughbred British cars that led the world with their artistry and engineering. Alongside them are four workhorses that may have been less celebrated but have still done more than their fair share to further the British car industry’s cause over the years.