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Crunch watch Dec 09: the auto industry in crisis

Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour Wednesday 30 December 2009• Saab's PR chief told AN that GM is extending the deadline for a sale to 7 January – and the Trollhattan factory will resume limited manufacturing in early January to build the new 9-5 and some 9-3 cabrios (Automotive News, subscription required)• Last night Bloomberg reported a Saab board member claiming that the 31 December deadline for a Saab sale or closure 'is not holy'. If GM receives a bid that is 'sufficiently interesting', it'll extend the deadline, said the Saab suit (Automotive News, subscription required)• GM is offering massive discounts on Pontiac and Saturn cars, as it seeks to get rid of the remaining stock from these terminated brands.

Concept Car of the Week: Cadillac Sixteen (2003)

Many premium brands struggle to keep their heritage of crafts and aesthetics up to date without often falling into obvious retro references. With a rich tradition of innovation, Cadillac tackled this difficult task in 2003 by creating the stunning Sixteen concept. Its caricature-like proportions exaggerate all the luxury car design codes.

First Sight: Peugeot 907 concept

Making its debut at the Paris Motor Show, the Peugeot 907 concept is a two-seater GT coupe, created "with reference to the past, the present and the future", and intended to transcend the Marque's values. The 907 is powered by a 6.0 litre V12 engine delivering 368 kW (500 bhp), positioned longitudinally behind the front axle. Connected by a short propshaft, it transmits its power to a six-speed sequentially controlled gearbox placed longitudinally in front of the rear axle.