Top Global Car Brands 2012: Toyota, Mercedes, BMW, VW, Honda, Ford & Hyundai

Interbrand has released its 2012 Top Global Brands rankings for 2012 with Toyota, Mercedes, BMW, VW and Honda the top four car brands. Last year, when we had the 2011 Top Global Brands revealed, Toyota managed to come at the top despite a year beset with the woes of the Tsunami. And for 2012, Toyota has hung on to its top automotive brand gong with a brand value of $30.28 billion.

Subaru Exiga

Subaru has begun selling the new Exiga touring wagon in the Japanese market. According to the company, the seven seat Exiga was developed with 'panoramic visibility for the touring experience' and targets people who enjoy sports driving as well as practicality. Overall styling of the production car has not been changed much from the Exiga Concept unveiled at the 2007 Tokyo Motor Show.

GM agrees to sell Saab to supercar company Koenigsegg

General Motors confirmed Tuesday morning that it has a tentative agreement to sell Saab to a group led by Swedish supercar maker Koenigsegg Automotive. The deal would close by the end of the third quarter and put Saab in the hands of an upstart, boutique car company known for producing eye-catching cars with gaudy horsepower ratings and even gaudier price tags. The agreement includes $600 million in financing from the European Investment Bank.