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Driven: Volkswagen Passat CC GT

Elegant and refined. Forty years ago these two words would not have been used to describe the Beetles bought in droves by the counterculture in the US; a symbol of the hippy movement and the definitive people's car, designed at a time when Germany sought to put people in motion. With the Passat CC, however, Volkswagen is indeed making a sharp move away from the ‘volks wagen', and these two words rolled off the tongues of those who saw the car in all three countries we drove through on our winter holiday.

Saab EIB loan repaid by Swedish Government

Sweden has repaid Saab's EIB loan With Saab in administration, the European Investment Bank (EIB) has called in the Swedish Government guarantee on Saab’s loan. In the midst of Victor Muller’s efforts to restructure Saab, Saab received access to a European Investment Bank loan of €400 million, of which it accessed some €217 million. But just like any less than credit worthy individual Saab needed a guarantor for the loan, which they received from the Swedish Government.

IDEA Institute acquired by Quantum Kapital

Turin-based automotive design, modeling and engineering firm IDEA (Institute of Development in Automotive Engineering) has been sold to Quantum Kapital AG, an investment company with an industrial emphasis based in St. Gall, Switzerland. The transaction is expected to be completed in the next few weeks.