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Lotus chief exec Dany Bahar suspended: what's next?

Group Lotus chief Dany Bahar has been suspended while complaints about his conduct are carried out by parent company DRB Hicom. Weekend newspapers reported that the dispute was over expenses for building work carried out on one of Bahar's homes. Bahar was suspended on Friday and the new owners stressed that Lotus Cars continued to run in his absence.

50,000 copies of the 2012 Honda Civic recalled over driveshaft issue

About 50,000 copies of the 2012 Honda Civic are being recalled because of a potential issue with the left driveshaft. The automaker claims that the driveshaft “may not have been properly assembled, potentially allowing it to separate from the outer CV joint while in operation.” While such a separation could result in total loss of power to the wheels and the inability to securely park the vehicle without the use of the parking brake, Honda claims that no incidents related to the issue have been reported. Earlier this year, Honda recalled about 45,800 Honda Odyssey minivans for faulty tailgate struts, 8,700 Honda Pilot and Acura MDX SUVs to fix a problem in the fuel tank, and 1,300 copies of the Honda CR-V to correct a control-arm problem.

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.