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Saab gets latest lifeline via $5 million infusion from Chinese company
Tue, 13 Dec 2011Saab has been on the edge of collapse since a cash shortage early this year forced it to halt production. Now Automotive News reports that a last-minute payment from China's Zhejiang Youngman Lotus Automobile has given the Swedish carmaker yet another shot. Youngman wants to get a stake in Saab and has taken the first step by giving the company $5 million to cover tax expenses, with another $26.43 million forthcoming for unpaid salaries and $13.18 million more before the end of December.
Driven: Lexus GS450h
Tue, 21 Aug 2012Lexus' identity is still unclear, even 20 years after it launched. Toyota's premium brand has perpetually failed to establish a clear identity of its own due mainly to a lack of consistency and detail refinement across its products. Can the new GS change these perceptions?
What's New: May 2004
Tue, 04 May 2004Porsche 911 Porsche has announced its new 997, the latest evolution of the iconic 911 sports coupe, now in its 41st year. While this may seem a minor facelift at first glance, there are changes to every exterior panel except the roof. There's a wider track and more emphasis on the wheelarch forms.