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Swedish court rejects Saab creditor-protection plea; Saab will appeal
Thu, 08 Sep 2011A Swedish court on Thursday rejected an application by ailing carmaker Saab for protection from creditors to give it breathing space to solve a cash crisis and get funds from Chinese investors. The Vanersborg district court in western Sweden said in a statement on its Web site that there was no reason to believe a new creditor protection process, known as a reconstruction, would work. Saab said in a statement that it is disappointed with the ruling and will appeal the decision.
Japan freeway clogged by supercar pileup
Mon, 05 Dec 2011Nearly $2 million worth of vehicles were wrecked in a 14-car crash in Japan on Sunday. The pileup involved eight Ferraris, a Lamborghini, three Mercedes-Benzes and two Toyotas. The fancy car convoy was headed from Kyushu to Hiroshima when the driver of a red Ferrari skidded while switching from the right lane to the left on the rain-soaked expressway.
BMW Toyota diesel engine deal not for Lexus
Sun, 18 Dec 2011Lexus won't get BMW diesel engines despite the Toyota deal The deal for BMW to supply Toyota with diesel engines for its range in Europe will not extend to Lexus models. The deal for BMW to supply diesel engines to Toyota for Europe (and joint work on advanced lithium ion battery technology) makes a lot of sense. BMW’s diesel engine are possibly the best there are, and Toyota need good diesel offerings in Europe to mop up sales.