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General Motors to shut down Saab

General Motors has announced that it will be closing the Saab brand after the company was unable to strike a deal with Spyker Cars. This follows from last month's withdrawal of would-be suitor Koenigsegg, leaving Spyker the sole contender in the acquisition of the ailing Swedish brand. According to Nick Reilly, GM's European president, the company has decided to cut its losses: "Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time.

Chrysler to begin building the next Jeep Grand Cherokee in May

Chrysler Group will begin building the 2011 Jeep Grand Cherokee--the first salvo in an effort to restore a product-starved lineup--on May 3, CEO Sergio Marchionne said Tuesday. Marchionne told an industry conference in New York that sales of the redesigned Grand Cherokee will begin in July. Chrysler plans to have 100 percent of its existing lineup refreshed or replaced by the end of 2012, as a wave of new products derived from the alliance with Fiat S.p.A.

Shelby 1000 Mustang: A completely bonkers dose of American Muscle Car

Shelby 1000 Mustang Shelby has taken the Ford Mustang GT500 and given it up to 1085bhp to create the Shelby 1000. But it’ll cost you the best part of £150k. Fifty years ago Caroll Shelby changed UK motorways forever by teaming up with AC to produce the AC Cobra which, it is said, was responsible for Barbara Castle introducing the 70mph speed limits on motorways after AC used the new M1 to test the AC Cobra at speeds of up to 180mph.