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Saab on brink of closing after GM rejects rescue plan

Saab Automobile filed for bankruptcy on Monday and is on the brink of shutting for good after former owner General Motors rejected a rescue plan. The move sets the scene for the end of Saab's struggle to survive after months of hastily drawn-up deals for a company that hasn't made a vehicle in months. The latest plan involved Chinese automaker Zhejiang Youngman Lotus Automobile, but this was vetoed by GM, still a key Saab supplier, over the weekend "After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded," Saab's Dutch owner, Swedish Automobile, said in a statement.

Ferrari FXX Evoluzione (2007): first official pictures

By Tim Pollard First Official Pictures 29 October 2007 03:40 Ferrari FXX Evoluzione: when money really is no object When Ferrari launched the FXX back in summer 2005, it claimed it would use client feedback and ex-works driver Michael Schumacher to develop the 'ultimate' Ferrari. Well, two years on, it's done just that. The result?

Citroen DS4: UK Price & Models

Citroen DS4 - starts at £18,150 in the UK The Citroen DS4 has already been voted ‘Most Beautiful Car of the Year‘, despite not even being on sale yet. It’s a bit like the LEAF being voted Car of the Year before it’s actually got in to the hands of consumers. Except the DS4 is a cracking looking car.