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Qoros set to unveil two concepts in Geneva

Qoros has announced it will showcase two concepts alongside its first production car, the GQ3 compact sedan, at this year's Geneva motor show. The Cross Hybrid Concept and Estate Concept preview future Qoros designs and technologies and are both based on the same platform as the GQ3. The two also feature the same signature design cues, developed under the direction of executive director of design, Gert Hildebrand.

BMW M550d xDrive (2012) - the diesel M saloon

BMW has launched its first diesel M car: the new M550d xDrive in saloon and Touring estate forms. It's part of a strategy to fill the gap between the exclusive M GmbH division cars and the top-end cosmetic M Sport trim lines with a new range of M lite: BMW M Performance Automobiles. Developed by the engineers responsible for the M3, M5 et al, the new M550d xDrive is powered by a new high-output version of the 3.0-litre straight six turbodiesel packing not one, not two, but three turbochargers.

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.