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Lotus for Sale? Proton advised to sell Lotus Group International

Are Proton about to sell Lotus? Analysts are advising Proton – owners of Lotus Group International – to divest itself of the loss-making Lotus. It was always difficult to see any sort of synergy between budget car maker Proton and Lotus.

Saab seeks court protection from creditors

Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.

Warning against driveway thefts in winter

DRIVERS are being warned to not leave their cars unattended while warming them up this winter as car theft increases in the colder months. Thieves find it easy pickings when drivers leave car on driveways with the engine running to heat up the car before leaving home. However, this leads to a rise in car thefts at this time of year, according to research by Tracker.