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Saab owners Spyker NV to become Swedish Automobile NV

Is the rain coming to an end at Saab? In the seemingly never-ending saga of Spyker and Saab it does now seem likely that the deal we reported last week with Chinese distributors Pang Da is going to pan out. The messy-looking deal with Pang Da has seen the beleaguered Dutch car maker receiving €30 million already from the cash-rich Chinese, which it’s using to pay-off its suppliers in an attempt to get production lines rolling again in Trollhattan.

Hennessey tunes C7 Corvette Stingray

Hennessey Performance and its gang of Texas tuners are planning upgrades for the 2014 Chevrolet Stingray Corvette before the car even hits the market. We're sure Corvette engineers working on the next ZR1 are taking notice, presumably with a chip on their collective shoulders. In October, the Hennessey HPE700 Corvette is expected to debut packing a claimed 700 hp, with help from an Eaton TVS R2300 supercharger.

Saab appoints North American administrator, prospects darken

Saab has appointed an outside administrator to oversee its business in North America and the potential wind-down or sale of the company if its parent operations can’t emerge from bankruptcy. The move was announced on Wednesday afternoon by Saab North American COO Tim Holbeck as the company’s future remains uncertain. McTevia & Associates, a management and financial-consulting service with offices in suburban Detroit and Florida, is the administrator.