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Victor Muller sells Spyker sports cars to CPP
Thu, 24 Feb 2011Supercar maker Spyker is to be sold. Coventry-based coachbuilder CPP has announced a memorandum of understanding (MOU) to buy Spyker Cars from Spyker Cars N.V, the holding company which owns Spyker and Saab. No. Saab remains under the ownership of Dutch company Spyker Cars N.V. This sale is of Spyker, the manufacturer of flamboyantly detailed mid-engined supercars. CPP has been supplying chassis and body panels for Spyker since the brand was relaunched in 2000, and completed an agreement to handle full manufacturing of the current range in 2009 – the production of Spyker cars moved from the Netherlands to Coventry in 2010. The MOU, valued at €32m, will mean that CPP Global Holdings Ltd will become manufacturer and owner of Spyker – €15m will be paid straight away, with the remaining €17m paid over a six year 'earn-out' period.
New high-performance BMW X5 M50d diesel in pictures
Fri, 30 Aug 2013BMW has released pictures and details of the new X5 M50d, a 381hp super-diesel SUV with the world’s most powerful straight-six diesel engine. It will join the new, third-generation X5 range, which is set to go on sale in the UK this November with prices starting at £42,590. The engine carries over from the previous X5 M50d, but the 2013 version is both quicker and more fuel-efficient.
Porsche boss Mueller: A launch every year, 200,000 sales by 2018
Thu, 24 Feb 2011By 2018, Porsche CEO Matthias Mueller, 57, aims to boost annual global sales to more than 200,000 units, up from 97,000 in 2010. To do so, he will introduce at least one new Porsche every year. Mueller, a former executive at Volkswagen AG, replaced Michael Macht as Porsche AG CEO in October.