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Swedish sports-car maker Koenigsegg may buy Saab

General Motors has chosen Swedish luxury sports car maker Koenigsegg Automotive AB as the preferred bidder for the Saab brand, news reports said. Koenigsegg and Norwegian investors have signed a letter of intent to take over Saab, Swedish television said Thursday, attributing its report to unnamed sources. "The deal is there now and a few minor details remain," a source told Reuters.

Fiat 500 1957 Edition revealed ahead of LA Auto Show

While American teenagers were cruising around in finned interstate crushers, Europeans of all ages were discovering the wonder of automobile ownership thanks to the tiny, affordable Fiat Nuova 500, introduced to a car-hungry public in 1957. The little two-cylinder city car was a smash hit, with 3,893,294 built before production ended in 1975. Fiat 500 production resumed in 2007, but the new car was vastly different from the original: Its engine gained two cylinders and moved to the front of the car, while its footprint, though diminutive by American standards, positively dwarfs that of its predecessor.

Renault Zoë ZE electric car 'to cost £13,000' in UK

By Tim Pollard Motor Industry 13 May 2010 07:55 Renault's new electric cars may turn out to be cheaper than we expected. We had been looking to a price comparable to modern turbodiesels, but a senior executive has told us that the new 2012 Zoë ZE city car will be priced from just €15,000. 'The Zoe will cost around €15,000, or £13,000 in sterling,' said global vice president of sales and marketing, Stephen Norman.