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Porsche Cayenne S Hybrid revealed

The Porsche Cayenne S Hybrid - V8 performance and 31mpg We brought you details on the Porsche Cayenne Hybrid back in February, but Porsche has just issued a press release confirming the details. Porsche are claiming their heritage is the Hybrid car. Ferry Porsche developed a Hybrid car in 1900, linking a 15bhp four cylinder engine to an 80 volt dynamo.

Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.

Ford, Nissan, GM, Chrysler post double-digit April sales gains

UPDATED: Strong demand for large pickups and new models propelled Ford Motor Co., Nissan Motor Co., General Motors and Chrysler Group to double-digit sales gains in April, signaling the auto industry's recovery remains solid. The seasonally adjusted annualized sales rate for April was tracking at 15.1 million based on results from automakers representing 55 percent of the U.S. market, J.P.