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BMW M8 (2016) supercar

BMW’s plans to unleash a new mid-engined supercar are firming up. Previously known as M1, the 600bhp supercar is now called M8 internally, and is being lined up as the flagship car to mark BMW’s 100th birthday in 2016. M division boss Friedrich Nitschke has proposed that the M8 shares the exotic carbonfibre and aluminium underpinnings of the i8 plug-in hybrid due in 2014.

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.

Volkswagen Golf Economy Range launched

Volkswagen has released a range of Eco cars - The VW Golf Economy Range With the obsession by car makers with CO2 emissions (but only because Governments structure their targets on CO2 levels) the aim of these Eco Golfs is to trim CO2 levels down, and they’ve succeeded in getting the whole Golf Economy Range under 120g/km, and the Golf BlueMotion down to 107g/km. Three versions of the 1.6 TDi are offered – a 90PS version, a 105PS version and a 105PS BlueMotion version. VW has achieved the lower emissions with aerodynamic tweaks, longer gear ratios and regenerative braking.