Porsche 956-962 The Legendary Race Winners Hardbound New Sealed on 2040-parts.com

Saab unable to pay wages as financing crisis deepens

Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.'  While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.

Peugeot SR1 concept

Well ahead its anticipated debut at the 2010 Geneva motor show, Peugeot has released renderings of the SR1, a new 2+1 concept which showcases the stylistic design direction of the brand's future models. The hardtop convertible concept car is said to embody the new world of Peugeot, reflected by the new Lion badge which adorns its sculpted hood. Designed to explore and reinterpret the 'Grand Touring car' theme, with a long, sculpted hood, flowing body panels made of carbon and a very low center of gravity, the aesthetic traits of the SR1 are claimed to renew Peugeot's strong stylistic identity and create a new design language.

Porsche 918 RSR

Following an absence of four years from the NAIAS, Porsche had been promising an all new concept to its North American contigency. The 918 RSR is exactly that. Evolving from the 2010 918 Spyder concept shown in Geneva, the RSR stays true to the overall theme of the Spyder but adds a roof and race-specific elements.