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Saab files for bankruptcy

Struggling Swedish manufacturer, Saab, has finally filed for bankruptcy. What may well prove to be the closing chapter in this ongoing saga could see the iconic brand laid to rest following months of uncertainty. A statement by parent company, Swedish Automobile NV (Swan) announced that: ‘After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded.

Nissan to slash jobs, production after forecasting $2.9 billion loss

Reversing his profit forecast to a loss, Nissan Motor Co. CEO Carlos Ghosn entered crisis mode on Monday. Ghosn announced plans to slash 20,000 jobs, cut production by 20 percent, scale back model launches and delay new factories.

MG3 supermini (2013) first official pictures

This is the MG’s new Fiesta-fighting supermini: the MG3. It’ll go on sale in late 2013 carrying Korean brand-challenging prices and what MG is touting as ‘a distinctive statement of modern British style’ aimed at young buyers. Though the 3 is more likely to draw in penny-pinching pensioners, given that MG’s past that is rather more evoctive than its present.