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GM agrees to sell Saab to supercar company Koenigsegg

General Motors confirmed Tuesday morning that it has a tentative agreement to sell Saab to a group led by Swedish supercar maker Koenigsegg Automotive. The deal would close by the end of the third quarter and put Saab in the hands of an upstart, boutique car company known for producing eye-catching cars with gaudy horsepower ratings and even gaudier price tags. The agreement includes $600 million in financing from the European Investment Bank.

Ford offers C-Max Hybrid owners rebates for overstated mpg

In the wake of Ford's decision yesterday to lower its fuel mileage estimates on the C-Max hybrid, the company says it will also offer a payment to C-Max hybrid owners and lease holders for the estimated average fuel cost between the new and former mpg figures. Owners will get a check for $550 while lessees will get $325. The window sticker on the C-Max hybrid will now read 43 mpg, instead of the originally promised 47 mpg.

CDN Interior Motives Student Design Awards launched

Registration for the 10th Car Design News Interior Motives Student Design Awards has now opened. This is your chance to take part in one of the most important events in the design calendar, and to display your talent and fresh thinking to the world's top vehicle designers and automotive press. The theme of this year's competition is ‘What Comes Next?