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Car Design News – GM Interactive Design Competition Winners Announced at NAIAS

Car Design News and General Motors today announced the eight winners of their interactive design competition in an awards ceremony on the Cadillac stand at the North American International Auto Show 2012 (NAIAS). Over 300 design students from across the USA and Canada entered the Car Design News-GM Interactive Design Competition, launched in Spring 2011. Entrants were challenged to design both an interior and an exterior design for one of GM's four brands – Buick, Cadillac, Chevrolet and GMC – each of which set a unique brief.

Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.

Audi TTS Competition celebrates 500k TTs sold

The Audi TTS Competition (pictured) celebrates 500k TTs built It started off as something of a hairdressers car, but over the course of its 15 year history – and two iterations – the Audi TT has grown to be a credible sport car and a decent seller for Audi. That’s meant a total of 500,000 TTs have been solid since the TT first hit showrooms back in 1998, so Audi are celebrating with a new limited edition model – the Audi TTS Competition. The TTS Competition will be limited to just 500 units and will come in a choice of either Imola Yellow and Nimbus Grey, as a coupe or a roadster.