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Koenigsegg signs deal to buy all of Saab

By Tim Pollard Motor Industry 18 August 2009 10:17 Supercar maker and industrial group Koenigsegg today announced it had signed the deal to buy every one of GM's shares in Saab. The news clears the way for Saab's rebirth as an independent car maker freed from the shackles of General Motors and follows an earlier memorandum of understanding. Koenigsegg has signed the stock purchase agreement to buy 100% of Saab – but there are still numerous hurdles before the deal completes 'in the next few months.' Exactly.

UK new car registrations up again in July

New car registrations in the UK have risen for the fifth month running, with a total of 143,884 new cars registered in July 2012. The UK is continuing to buck the European trend with new car registrations up by 9.3 per cent in July (2102) to 143,884 according to new figures released by the Society of Motor Manufacturers and Traders (SMMT). That figure is the largest sales volume of 2012 and is the fifth month in a row that new car registrations have risen, despite economic woes and the Eurozone crisis, and brings registrations in 2012 to 1,201,564 so far, leading the SMMT to increase their prediction for 2012 sales upwards to 1.97 million.

Rare Ferrari sells for staggering £10 million

A RARE FERRARI representing a key early stage in the history of the sports car manufacturer has sold at auction for £10.7 million. The sale of the 375-Plus at the Goodwood Festival of Speed in West Sussex, was a world auction record for a Ferrari sports racing car. A spokesman for auction house Bonhams also said it was the third highest price paid for any car sold at auction.