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Suzuki Swift Sport (2011) first official picture

This is the new Suzuki Swift Sport, a lovely little hot (well, warm) hatch that will be officially revealed at the 2011 Frankfurt motor show in September. And you can forget about the current crop of turbocharged and big power-chasing hot hatches – this Swift Sport uses a naturally aspirated engine good for just 134bhp… 134bhp! I know the last Suzuki Swift Sport wasn’t big on power but Minis and VXR Corsas boast over 200bhp… Yes, but that’s not the point.

Local Motors XC2V design competition winners announced

The winners of the Local Motors XC2V design competition have been announced. Created in partnership with the Defense Advanced Research Projects Agency (DARPA), the brief called for individuals to co-create a vehicle body design for two different missions – Combat Reconnaissance and Combat Delivery & Evacuation – based on Local Motors' tubular steel chassis. The goal was to create a fast, lightweight, highly capable vehicle that would be suitable for various field missions.

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.