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2012 VW Beetle revealed

2012 VW Beetle – it’s official Back to the future again with the reveal today – ahead of a debut at both New York and Shanghai – of the 2012 Volkswagen Beetle. Where do you go when you update a car that’s already a pastiche of an original? It seems VW’s answer is you don’t go anywhere, you just fiddle at the margins.

Toyota Verso D-Cat 150 Auto introduced

Toyota has introduced the Toyota Verso D-Cat 150 Auto And unfortunately, that is what the MPV Verso is – even the new Toyota Verso. Well-built and reliable, and little more. But there are lots of drivers who don’t buy a car for the ‘Drive’ but for the ‘Transport.

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.