Vintage Lakewood Ladder Bars Traction Drag Racing 1970 Chevelle Gto 442 Gs on 2040-parts.com

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.

New Mercedes SLS planned – & it won’t be a hybrid

AMG’s Tobias Moers has confirmed that a new Mercedes SLS is planned – as is a sub-SLS SLC – but it won’t come with hybrid power and electric assistance. But the Mercedes take on a supercar – the Mercedes SLS – isn’t set to go down the KERS route ant time soon according to AMG’s Director of Vehicle Development, Tobias Moers, who said that a next generation SLS – which is under development – would rely on weight saving and engine tweaking, just like the new Mercedes SLS AMG Black Series (pictured above), rather than electric assistance for its performance. Moers also said that Mercedes and AMG realised that the AMG brand doesn’t have the cachet of Ferrari and they have no plans to produce a car to go head to head with LaFerrari (or even the McLaren P1) so we won’t be seeing a hyper-SLS pushed upmarket in to the firing line of Ferrari any time soon.

Toyota Fun-Vii concept

Billed as the automotive equivalent of the smartphone, the Toyota Fun-Vii concept is part of the ‘Fun to Drive, Again' section of Toyota's concept car onslaught at the 2011 Tokyo motor show. The Fun-Vii is a socially-integrated vehicle that can change its appearance as quickly as the owner can download an app. The surfacing of the concept can be used as a display surface for business, with the body color and display content changeable at will.