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Aston to launch 'two or three Lagonda models' - Bez
Thu, 19 May 2011Aston Martin is preparing to launch 'two or three' new Lagonda models, CEO Ulrich Bez has confirmed to CAR. In a wide-ranging interview with our European editor Georg Kacher in the new June 2011 issue, Dr Bez revealed numerous details about the plan to relaunch the Lagonda brand. The new-generation Lagondas are to include a sporty crossover, an Allroad-type crossover and a high-end luxury saloon following in the footsteps of the William Towns-designed boxy 1976 Aston Martin Lagonda, CAR understands.
U.S. equity firm to invest $70 million in Saab
Thu, 20 Oct 2011Race-car fan and private-equity executive Alex Mascioli is pumping $70 million into Saab as the Swedish automaker works to stay afloat. Mascioli's firm, North Street Capitol, is buying $10 million in shares of Swedish Automobile, which owns Saab, and is also giving the company a $60 million loan to pay for the carmaker's reorganization. U.S.-based North Street Capital struck a deal in September to buy the Spyker sports-car business from Swedish Automobile for $44 million.
Honda cutting production in Swindon again – 500 jobs at risk
Tue, 25 Mar 2014Honda is cutting another 500 jobs in Swindon It’s only a year since Honda announced 800 job cuts at Swindon (which eventually was 550) and now they’re about to cut a further 500 as weak demand – particularly in Europe – sees the Swindon plant producing just half the cars it could. The plan is to cut shifts from 3 to 2 a day, which will result in the loss of 340 permanent jobs and 160 temporary ones, and production will be centred on just one production line to increase efficiency and flexibility. The Swindon Plant – which builds the Civic, Civic Tourer, CR-V and Jazz (and the Civic Type-R from next year) – has been hard hit by the slump in European sales in the last five years and, despite still strong UK sales, production levels of 120,000 cars a year – just half of the Swindon capacity – are not enough to sustain the current staffing levels.