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GM agrees to sell Saab to supercar company Koenigsegg

General Motors confirmed Tuesday morning that it has a tentative agreement to sell Saab to a group led by Swedish supercar maker Koenigsegg Automotive. The deal would close by the end of the third quarter and put Saab in the hands of an upstart, boutique car company known for producing eye-catching cars with gaudy horsepower ratings and even gaudier price tags. The agreement includes $600 million in financing from the European Investment Bank.

Peugeot Exalt Concept at the Paris Motor Show in Euro-Spec

The European version of the Peugeot Exalt Concept With the Paris Motor Show now looming (just four weeks away) car makers are starting to reveal new cars and new concepts heading for the French capital. Today it’s the turn of Peugeot to reveal an updated version of the Exalt Concept we saw at the Beijing Motor Show in April. The Peugeot Exalt Concept is Peugeot’s next step on from the Onyx Concept, showcasing many of Peugeots’ future design cues and technology all wrapped up in a swoopy coupe saloon that sadly will never see the light of day as a production model.

Pensioner rescued from sinking car

A PENSIONER had a lucky escape when he was rescued from his car just before it sank under water after he was stranded on a tidal causeway. The man, in his 80s, was trapped inside the vehicle with the sea rising around him after he got stuck on the causeway between Overton and Sunderland Point, Lancashire, the RNLI said. Emergency services were called just before 3.30pm yesterday and the Morecambe RNLI's inshore lifeboat crew found the man inside the car and unable to open the doors because of the pressure of water.