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Saab files for reorganization, seeks $1 billion to survive

Saab is seeking $1 billion (793 million euros) to be self-financing, the company said on Friday after it filed for reorganization under a self-managed Swedish court process. The General Motors-owned Swedish brand said it will work "to create an independent business entity" and will concentrate production, design and engineering in Sweden. Saab said it would continue to operate as normal during the reorganization process, with GM and the Swedish government providing some support.

Vauxhall / Opel Mocha (Corsa SUV) Geneva 2012 debut

The Vauxhall Opel Mocha SUV - Geneva Debut (render by Auto Bild) Vauxhall Opel are developing a sub-compact SUV based on the Corsa and called Mokka / Mocha which will debut at the 2012 Detroit Show. Downsizing is all the rage as every day it gets more expensive to buy and run a car. But despite buyers looking for smaller and more economical cars, they want those cars to be smaller versions of what they’re used to, not cheap and cheerful runabouts.

Hyundai Motorsport Facility opens in Germany

Hyundai’s new Motorsport facility in Germany No one can accuse Hyundai of not taking their return to the FIA World Rally Championship in 2014 seriously. They’re busy preparing an i20 to take on the WRC, starting in Monte Carlo in January 2014, and have now started testing their swift WRC i20 in preparation. They’ve already recruited some impressive names to join their new Hyundai Motorsport GmbH team including Michel Nandan to head up their WRC efforts who has been joined by Frenchmen Bertrand Vallat and Stephane Girad, Alain Penasse, Ernst Kopp and Stefan Henrich.