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Saab files for reorganization, seeks $1 billion to survive

Saab is seeking $1 billion (793 million euros) to be self-financing, the company said on Friday after it filed for reorganization under a self-managed Swedish court process. The General Motors-owned Swedish brand said it will work "to create an independent business entity" and will concentrate production, design and engineering in Sweden. Saab said it would continue to operate as normal during the reorganization process, with GM and the Swedish government providing some support.

Porsche 911 Carrera GTS (2010) pictures and video

If you thought we didn’t need another Carrera version of the current 911, look away now – the Carrera GTS is revealed today, boasting a little bit more power, a millisecond or two of extra performance, a smidge more width, a smattering of cosmetic frippery and costing £12,500 more than a boggo model. If you happen to be Che Guevara or any other revolutionary, it isn’t for you. Let’s face it, this is a fairly blatant run-out job, with the next 911 due next year, but that doesn’t mean it won’t be brilliant to drive.

2011 Audi R8 GT, an AW first look

Three years after it burst onto the supercar scene, Audi has unveiled a hard-core version of its R8 called the GT. Based on the existing mid-engine R8 V10 and incorporating aerodynamic, weight-saving and mechanical developments used by the company's R8 LMS GT3 race car, Ingolstadt will build just 333 copies of the new 560-hp four-wheel-drive performance flagship. Pricing has not yet been revealed, but given the extent of the changes to the new two-seater, buyers should expect a hefty premium over the R8 V10's $147,000 price tag when the GT goes on sale in North America.