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Bentley and Bugatti get a new boss

Volkswagen said Audi's former development chief, Wolfgang Duerheimer, will head its Bentley and Bugatti brands. It will be Duerheimer's second stint at Britain-based Bentley and France-based Bugatti. In February 2011, he took the helm at both brands for 19 months, succeeding retiring chief Franz-Josef Paefgen.

Saab unable to pay wages as financing crisis deepens

Saab'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.

Launch control offered on 2013 Ford Mustang Shelby GT500

The list of manufacturers that offer launch control is getting a bit longer. Ford is joining Audi, BMW, Chevrolet, Ferrari, Lamborghini, Mitsubishi, Nissan, Porsche and a few boutique makers with its 2013 Shelby Mustang GT500. It's not so easy to get 662 hp down to the ground successfully, so Ford does it for you with overclocked computers and precise brake, throttle and clutch control.