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Porsche rejects BlueSport Concept

Porsche has rejected the BlueSport concept as a new entry-level Porsche The VW BlueSport concept debuted at the Detroit Motor Show in January, and offered the prospect of an economical, fun roadster from the VW group. But at the time VW made it clear that the car would have to work across three of its brands to be viable. VW are obviously up for the project, and Audi look likely to go along with BlueSport with the planned E2 Roadster.

Fiat says it could abandon Chrysler due to unions

Fiat S.p.A. CEO Sergio Marchionne said he is ready to abandon plans to form a partnership with Chrysler LLC unless the U.S. carmaker's unions accept substantial labor cost reductions by the end of the month.

Saab on brink of closing after GM rejects rescue plan

Saab Automobile filed for bankruptcy on Monday and is on the brink of shutting for good after former owner General Motors rejected a rescue plan. The move sets the scene for the end of Saab's struggle to survive after months of hastily drawn-up deals for a company that hasn't made a vehicle in months. The latest plan involved Chinese automaker Zhejiang Youngman Lotus Automobile, but this was vetoed by GM, still a key Saab supplier, over the weekend "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," Saab's Dutch owner, Swedish Automobile, said in a statement.