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Jaguar XKR-S: Geneva reveal +video

Jaguar XKR-S revealed in Geneva The Jaguar XKR-S is Jaguar’s fastest series production car, and is as sure a sign as you can get of the potential Jaguar has. And, perhaps more importantly,  the confidence Jaguar has in its ability to deliver on its promise, and to push the boundaries. Jaguar purists will complain that the XKR-S is too shouty, too loud, not quite Jaguar.

Official: UK car production is booming

Nearly 10% MORE cars were produced in the UK this September compared to the same time last year, data released today from the Society of Motor Manufacturers and Traders (SMMT) has revealed What’s more, 1,125,433 cars were manufactured in the UK by the end of the month – that’s a 3.9% rise compared to 2012. September new car sales beat forecasts UK car sales hit four year high in 2012 This means UK car production has returned to pre-recession levels. The rolling 12-month total has now topped 1.5 million 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.