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Gibbs begins production of Quadski amphibious ATV

During our test of the Gibbs Quadski, a high-speed amphibious ATV manufactured by Gibbs Sports Amphibians Inc., representatives stated that the first production vehicles would be ready for sale by mid-November. The company seems to have made good on that promise. According to a statement, the first production Quadskis were completed earlier today at an Auburn Hills, Mich., factory.

Audi TT Clubsport Quattro (2008): first pictures

By Ben Pulman First Official Pictures 21 May 2008 12:34 CAR Online was first to reveal that the Speedster-inspired TT will be built, and now Audi has officially unveiled the car at the Wörthersee Tour in Austria. Called the Audi TT Clubsport Quattro, it’s an updated version of the concept of the same name seen at the same festival in 2007. And as well as a turbocharged engine producing 'more than 296bhp', today's press release claims: ‘Small-series production of this model cannot be ruled out’.

Saab unable to pay wages as financing crisis deepens

Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.'  While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.