Packard 1934-1936 Rear Brake Drum on 2040-parts.com

Koenigsegg signs deal to buy all of Saab

By Tim Pollard Motor Industry 18 August 2009 10:17 Supercar maker and industrial group Koenigsegg today announced it had signed the deal to buy every one of GM's shares in Saab. The news clears the way for Saab's rebirth as an independent car maker freed from the shackles of General Motors and follows an earlier memorandum of understanding. Koenigsegg has signed the stock purchase agreement to buy 100% of Saab – but there are still numerous hurdles before the deal completes 'in the next few months.' Exactly.

Citroen C-Zero (2010) first picture

Citroen has revealed the C-Zero, an electric city car based on Mitsubishi's i-MiEV, and a sibling to Peugeot's iOn. Well, Citroen and Peugeot are both now taken care of - Citroen's PSA partner Peugeot unveiled the iOn earlier this year - but the rebadged i-MiEV is an easy way for Citroen to add a zero-emissions vehicle to its range. The C-Zero is powered by a 47kW (64bhp) motor that also produces 133lb ft and sends the drive to the rear wheels.

Chrysler, Nissan and GM lead industry to 8 percent gain

UPDATED--Chrysler Group, Nissan North America and General Motors led the industry to an 8 percent U.S. sales gain in August. The seasonally adjusted sales rate slipped to 12.13 million from July's 12.24 million as a stagnant economy, last week's U.S.