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Saab on brink of closing after GM rejects rescue plan
Mon, 19 Dec 2011Saab Automobile filed for bankruptcy on Monday and is on the brink of shutting for good after former owner General Motors rejected a rescue plan. The move sets the scene for the end of Saab's struggle to survive after months of hastily drawn-up deals for a company that hasn't made a vehicle in months. The latest plan involved Chinese automaker Zhejiang Youngman Lotus Automobile, but this was vetoed by GM, still a key Saab supplier, over the weekend "After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded," Saab's Dutch owner, Swedish Automobile, said in a statement.
Mercedes-Benz reveals first C-class details
Mon, 21 Oct 2013Mercedes-Benz has revealed limited details about its new fourth-generation C-class sedan, more than two months before it is due to make its world debut at the Detroit auto show. Although the new BMW 3-series and Audi A4 rival is yet to official unveiled -- in fact, all we have so far are interior renderings -- Mercedes-Benz says the new C-class will be a significantly more advanced car than its predecessor in terms of construction, with a “best in class” weight figure and a level of structural integrity that it describes as being “unparalleled” in its class. Among its features is a new lightweight body structure that uses a newly developed aluminum hybrid construction process that Mercedes-Benz claims will shave as much as 220 pounds over the current model depending on the engine it uses.
Porsche Panamera Diesel gets power boost for 2014
Mon, 02 Sep 2013An updated Porsche Panamera Diesel was missing from the range when Porsche facelifted its plus-size super-saloon earlier in 2013. But don’t think Porsche had quietly dropped the most anti-purist model in its line-up. Stuttgart has in fact been tickling up a much more powerful, faster version of the oil-burning Panamera.