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Spyker attempting to sell Saab real estate in money-raising move

The next chapter in the Saab cash crunch appears to involve Spyker selling Saab real estate to an unnamed financial institution, with the automaker leasing the property back for its operations. Saab has been forced to shut down production twice in the past few weeks in the wake of unpaid supplier bills, raising concerns that Dutch owner Spyker may be facing a liquidity crunch. The latest move is likely aimed at freeing capital for the automotive operations while the company negotiates for a loan with the help of the Swedish government.

BMW to build Gran Coupe to challenge Mercedes-Benz, Porsche

BMW will build its Gran Coupe concept car, the company's development chief Klaus Draeger said. The production Gran Coupe will rival luxury coupe-styled four-door cars such as the Mercedes CLS, Audi's upcoming A7 and the Porsche Panamera. The concept was unveiled at the Beijing auto show in April.

Bentley to debut Continental GTC Speed at Detroit show

Bentley will complete its Speed portfolio when it introduces a freshened Continental GTC range at the Detroit auto show. Along with exterior and equipment changes, a new GTC Speed model is added with a more powerful version of the 6.0-liter twin-turbocharged W12 that churns out 600 hp and 553 lb-ft of torque for an improvement of 48 hp and 74 lb-ft over the regular GTC. The result is Bentley's most powerful convertible to date.