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News watch August 2012: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Friday 31 August 2012•European car sales continue to struggle, down 8.2% in July. Spain, europe's biggest market, saw sales frop the most, by a massive 26%.

Saab: Vlad Rides to the Rescue

Vladimir Antonov rides in with €30 million for Saab's coffers It was always an odd move by GM, or the Swedish Government, or whoever it was that decided the deal  for Spyker to buy Saab could only go through if Spyker’s money man – Vladimir Antonov – stepped down. It’s understandable if you have genuine concerns about the credentials of a party to the deal, but taking Vlad out of the equation was an accident waiting to happen. Without Vlad there was no financial safety net for Saab.

Studebaker trees: Dead company, living advertisement

Some of you may have seen this already; it’s been popular on the map sites for a while. But those who don’t know about Bendix Woods County Park west of South Bend, Ind., feast your eyes on 5,000 pine trees, planted in 1937, spelling Studebaker when viewed from high enough. Bendix Woods park was formerly the Studebaker proving grounds, and much of the track surface is still visible in satellite photos.