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Victor Muller sells Spyker sports cars to CPP

Supercar maker Spyker is to be sold. Coventry-based coachbuilder CPP has announced a memorandum of understanding (MOU) to buy Spyker Cars from Spyker Cars N.V, the holding company which owns Spyker and Saab. No. Saab remains under the ownership of Dutch company Spyker Cars N.V. This sale is of Spyker, the manufacturer of flamboyantly detailed mid-engined supercars. CPP has been supplying chassis and body panels for Spyker since the brand was relaunched in 2000, and completed an agreement to handle full manufacturing of the current range in 2009 – the production of Spyker cars moved from the Netherlands to Coventry in 2010.   The MOU, valued at €32m, will mean that CPP Global Holdings Ltd will become manufacturer and owner of Spyker – €15m will be paid straight away, with the remaining €17m paid over a six year 'earn-out' period.

BMW X3 reloaded

BMW has revealed the first official details of its second-generation X3 prior to its world debut at the upcoming Paris motor show. Set to go on sale in the United States in January 2011, BMW says the new X3 will be priced close to the outgoing model. The upmarket off-roader has been completely redesigned and reengineered in a move BMW hopes will see it emulate the first-generation model's success, sales of which have now topped the 600,000 mark worldwide since its introduction in 2003.

Trouble at Bertone

It was hoped that Bertone would be exhibiting its latest concept, the B.A.T.11, in Geneva this year, a design inspired by the B.A.T.5., B.A.T.7 and B.A.T.9 concepts developed between 1953 and 1955. The car is based on the Alfa Romeo 8C Competizione. But after receiving a release from Stile Bertone announcing the prototype on February 13, the company's communications department sent through another email stating that it would not, in fact, be attending the show this year.