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Saab says asset sale to BAIC gives it cash for a fresh start

Saab believes that a deal to sell some key assets to Beijing Automotive Industry Holdings Co. will help secure the money-losing automaker's future. "The money will finance the new Saab and contribute to a good start under new ownership," Saab spokeswoman Gunilla Gustavs said without revealing financial details of the deal.

VW Passat CC gets 5 seat option

TheVW Passat CC now gets a five seat option Cue bevvy of car show lovelies; roll out the big red carpet; bring on the marching band. Volkswagen has big news to announce. The VW Passat CC is getting a five seat option.

Volkswagen Polo wins European Car of the Year award

Volkswagen's new Polo--slated to enter the U.S. market within three years--narrowly beat the Toyota iQ to win the 2010 European Car of the Year award. The Polo scored 347 points against 337 for the iQ city car.