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General Motors to shut down Saab
Fri, 18 Dec 2009General Motors has announced that it will be closing the Saab brand after the company was unable to strike a deal with Spyker Cars. This follows from last month's withdrawal of would-be suitor Koenigsegg, leaving Spyker the sole contender in the acquisition of the ailing Swedish brand. According to Nick Reilly, GM's European president, the company has decided to cut its losses: "Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time.
News watch July 2012: today's auto industry news
Wed, 25 Jul 2012Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Tuesday 31 July 2012•Porsche SE recorded a first half profit of €1.15bn, in comparison with €149m for the same period in 2011. The enormous jump has come not from directly selling cars, but from the group's investments in Porsche Zwischenholding GmbH and Volkswagen AG (Porsche SE)•Reuters suggests Germany's car market is in recession, but few outside the industry would know it, thanks to a controversial sales practice that inflates official statistics and paints a flattering picture of demand.
Family wins £10,000 Volkswagen from local garage
Thu, 31 Jul 2014A HORSHAM family is gearing up for a memorable summer in the sunshine after beating thousands of motorists across the UK to win a Volkswagen car worth a cool £10,000. James Bancroft and his family won the Bridgestone-led competition after driving in to his local Elite Garage on Brighton Road in Horsham for a new set of tyres. Three weeks after James texted his details as part of the Bridgestone sales campaign, he was told that he’d beaten more than 2,000 fellow hopefuls across the UK to win a Volkswagen Up hatchback.