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Saab owner and Chinese investors continue talks regarding takeover deal

Talks between Saab's owner Swedish Automobile and two Chinese investors on a takeover deal to rescue the ailing carmaker will continue even though a memorandum of understanding signed by the parties only runs until Tuesday, Saab said. "They (the parties) are still in discussions about the structure of the deal going forward and they are continuing their cooperation as if the memorandum of understanding continues," Gunilla Gustavs, a Saab spokeswoman, told Automotive News Europe. The Chinese companies, Pang Da Automobile Trade Co.

Gumpert Insolvent

German supercar maker Gumpert has filed for insolvency after a foray in to China failed to realise the expected sales. We’re beginning to wonder if the only garden shed supercar makers actually able to make a go of things are British? Gumpert – German maker of extreme supercars – has instigated insolvency proceedings after its plan to make the newly wealthy Chinese fall in love with its bonkers cars floundered.

Police catch morning-after drivers

POLICE are catching more "morning after" drink-drivers, according to latest figures. The number of people arrested for drink-driving between 6am and 8am rose nearly 4% between 2011 and 2012, police statistics published by car insurance company LV showed. A further survey of 1,688 drivers showed that 3% had driven while over the legal limit the morning after a drinking session in the last two years.