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Saab owner and Chinese investors continue talks regarding takeover deal

Talks between Saab's owner Swedish Automobile and two Chinese investors on a takeover deal to rescue the ailing carmaker will continue even though a memorandum of understanding signed by the parties only runs until Tuesday, Saab said. "They (the parties) are still in discussions about the structure of the deal going forward and they are continuing their cooperation as if the memorandum of understanding continues," Gunilla Gustavs, a Saab spokeswoman, told Automotive News Europe. The Chinese companies, Pang Da Automobile Trade Co.

Chrysler wants to start with 165 Fiat dealerships in the United States

Chrysler Group dealers who initially get Fiat franchises will be expected to start with small showrooms--2,500-3,000 square feet--enough to display three or four cars. Such a small showroom will be sufficient to sell the Fiat 500 minicar, which will arrive in dealerships at the end of this year. Chrysler expects to initially name 165 dealers in 119 U.S.

Vauxhall VXR8 GTS (2013) first pictures of Aussie M5-killer

This is Vauxhall's BMW M5 and Mercedes E63 AMG fighter: the new VXR8. The £55k rear-drive saloon doesn't just beat its German peers for price though. It's also punching with the heavyweights in the power stakes, developing 576bhp and 545lb ft.