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Alcraft and RCA announce design competition winner

Alcraft Motor Company has announced the winner of a design competition featuring students from the Royal College of Art (RCA) Vehicle Design program. The contest, which concludes a joint project exploring British design values and personalized vehicle design, challenged students to develop a personalized design package for Range Rover models. Winning student Jed Sheehan collected his award for his treatment of the flagship Range Rover, which Alcraft has transformed into a design study.

GM SUVs probed by NHTSA after reports of stalling

Federal regulators have opened a safety investigation of as many as 865,000 General Motors SUVs from 2005-07 model years after complaints that inaccurate fuel-gauge readings led to stalling and one accident. The National Highway Traffic Safety Administration's preliminary evaluation is looking at 2005-07 Buick Rainiers, 2005-07 Chevrolet TrailBlazer 360s, 2005-06 Chevrolet TrailBlazer EXT 370s, 2005-07 GMC Envoy 360s, 2005-06 GMC Envoy XL 370s and 2005-07 Saab 9-7Xs. NHTSA said in a posting Friday that it has received 668 complaints of inaccurate fuel-gauge readings, 58 of which involved stalling vehicles.

Saab unable to pay wages as financing crisis deepens

Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.'  While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.