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GM agrees to sell Saab to supercar company Koenigsegg

General Motors confirmed Tuesday morning that it has a tentative agreement to sell Saab to a group led by Swedish supercar maker Koenigsegg Automotive. The deal would close by the end of the third quarter and put Saab in the hands of an upstart, boutique car company known for producing eye-catching cars with gaudy horsepower ratings and even gaudier price tags. The agreement includes $600 million in financing from the European Investment Bank.

Italdesign Giugiaro Quaranta

By Guy Bird Motor Shows 10 March 2008 11:53 What’s new on Italdesign Giugiaro’s Geneva Motor Show stand? The Quaranta concept. It celebrates 40 years of Italdesign and its founder, Italian car design legend Giorgetto Giugiaro, the man behind the VW Golf Mk1, BMW M1 and the original Alfa Romeo Brera concept.

MG3 Trophy Championship Concept previews MG Hot Hatch

MG3 Trophy Championship Concept (pictured) previews a future MG Hot Hatch The revival of MG so far has been about delivering rather prosaic Chinese cars given a gloss of credibility with and MG badge. But if MG are to succeed they really need to use some of the heritage of MG to grab buyers attention. That probably means a credible hot hatch rather than a traditional MG Roadster, so the arrival of the MG3 Trophy Championship Concept at MG’s 90th birthday celebrations at the weekend is perhaps a good pointer of the sort of direction we could see from MG in the coming years.