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Porsche buys Nardo for high-speed tests

Porsche has announced it is to take ownership of the famous Nardo Proving Ground in southern Italy. The company's engineering consultancy wing, the Porsche Engineering Group, will assume ownership as of May 2012. Nardo is currently owned by Italian firm Prototipo SpA.  No fee has been disclosed by either party.

Volvo V40 Cross Country (2012) first official pictures

Volvo is beefing up the V40 hatch with the new V40 Cross Country - a rough 'n' ready soft-roader to be shown at the 2012 Paris motor show. Ring any bells? Cast your mind back to 1997 and the release of the V70 Cross Country, to which the V40 Cross Country owes its existence. Volvo V40 Cross Country: 'all-road' performance The V40 Cross Country comes in front- or all-wheel drive formats, topped by the 2.5-litre T5 that’ll churn out 250bhp and pass 0-60mph in six seconds. A 40mm ride height increase is likely to limit on-road performance, but should come in handy should you need to traverse any troublesome countryside on the school run.

Saab sold to Spyker

General Motors' Saab division won't end up on the postbankruptcy scrap heap with Pontiac and Saturn. Just as Saab's death appeared imminent, the Swedish automaker was scooped up on Tuesday by Dutch supercar-maker Spyker Cars in a $74 million deal that has been in works for months. The deal is expected to close on Feb.