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Huayra paves the way for Pagani sales in the U.S.

The Pagani Huayra will pave the way for the Italian company to begin selling its cars in the United States later this year. Pagani Automobili said on Monday that the 700-hp Huayra will be sold through a network of dealers. But it did not say how many dealerships it would have, where they would be located and when sales would start.

GM officially bankrupt

GM finally enters Chapter 11 Bankruptcy The US Government is to provide £30 billion to fund the transition, with GM being split in to ‘Old GM’ and ‘New GM’. In exchange for the money the US Government will take a 60% stake in ‘New GM’ with all the toxic assets and liabilities being disposed of through ‘Old GM’. The restructuring will allow GM to survive on a third less sales than before (10 million instead of 15 million).

Jaguar readying SUV for Frankfurt motor show

While the next new Jaguar model slated for dealerships is a BMW 3-series fighter rumored to be called the XS, Autoweek sources have confirmed the company will also be showing an SUV at the Frankfurt motor show in September. Likely to be named XQ or Q-type, the Jaguar SUV is expected to ride on a version of the XS platform (itself a variation on the aluminum XJ architecture) rather than share a platform with a Land Rover product. Slated for 2016 production, the new Jaguar XQ SUV will share some powertrain technology with Land Rover, specifically the Ford I-4 engines from the Evoque.