Standard Motor Products Lu207 Condenser on 2040-parts.com
Temecula, California, US
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Saab unable to pay wages as financing crisis deepens
Fri, 24 Jun 2011Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.' While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.
Lexus RC F Sport completes coupe lineup
Fri, 28 Feb 2014An F Sport trim joins the Lexus RC 350 and the RC F to complete the brand's coupe trifecta for the 2015 model year. All three models are set to launch this fall in the U.S. The Lexus RC F sport is slated to make its debut at the Geneva motor show beginning next week.
First Sight: BMW 1 Series
Thu, 25 Mar 2004This is the first BMW to compete in the premium lower medium European car class defined by cars such as the Audi A3 and Alfa Romeo 147, although spiritually it follows the significantly smaller BMW 2002 Touring produced from 1968 to 1976. A little more compact that the 3 Series (which will grow in size with next year's new model) the 1 Series effectively replaces the 3 Series-based Compact and extends the brand downward to just above the Mini. The 1 Series was previewed by the CS1 two door convertible concept shown two years ago at Geneva, with which it shares much of its exterior proportions and form, and some interior design themes.