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Saab seeks court protection from creditors

Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.

Performance Car of the Year photo gallery - day 2

 CAR's road testers always dress up for the occasion The Porsche 911 GT2 RS is trailered to the south of France from Stuttgart. It's the car that raises the pulse more than any other here 'I'll have one of each please.' The Lamborghini Gallardo LP570-4 Superleggera and Mercedes-Benz SLS AMG arrive by lorry and appear magically on the top of a Provencal mountainside. Stops plenty of passing tourist trade Read the full story in the new January 2011 issue of CAR Magazine out on 22 December - there's a smashing 36-page standalone supplement charting the full story of Performance Car of the Year, as eight greats battle it out for CAR's annual sports car trophy Click through to our facebook page to 'like' your favourite images.

Mercedes-Benz CLS shooting brake sparkles at Goodwood

Mercedes-Benz used the annual Goodwood Festival of Speed as the backdrop for the premiere of the definitive production version of its stylish new CLS shooting brake in Sussex, England. Set to go on sale across Europe in October, the new sporting wagon was given a production go-ahead by Mercedes boss Dieter Zetsche following positive reaction to the earlier E-class-based ConceptFascination prototype car unveiled at the 2008 Paris motor show and the subsequent CLS shooting brake show car wheeled out at the 2010 Beijing motor show. Sadly, though, there are no plans to sell the new Mercedes-Benz model in North America, owing to what one official described to Autoweek as "the continued aversion to wagons by U.S.