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General Motors to shut down Saab

General Motors has announced that it will be closing the Saab brand after the company was unable to strike a deal with Spyker Cars. This follows from last month's withdrawal of would-be suitor Koenigsegg, leaving Spyker the sole contender in the acquisition of the ailing Swedish brand. According to Nick Reilly, GM's European president, the company has decided to cut its losses: "Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time.

LaFerrari joins Supercar exhibition at Ferrari Museum in Maranello

The new LaFerrari has joined an exhibition of supercars at Ferrari’s Maranello Museum joining cars like the 250 GTO, F40, F50 and Enzo Ferrari. Ferrari boss, Luca di Montezemolo, has opened the Supercar exhibition in Maranello to showcase Ferrari’s greatest models all in one place, an opportunity Ferraristi will find hard to resist. As well as LaFerrari, Ferrari has on show perhaps the greatest supercar in their history – the Ferrari 250 GTO – which was built in very limited numbers – just 33 Series 1 and 3 Series 2 cars – and now commands prices around the $40 million mark, the 288 GTO, the F40 – perhaps the ‘Driver’s’ choice – the F50 and, of course, the Enzo Ferrari.

Jaguar, Mercury tops in sales satisfaction, J.D. Power reports

The Jaguar brand, sold by Ford Motor Co. last year to India's Tata Motors, won top honors in the annual J.D. Power and Associates Sales Satisfaction Index--the fifth time in six years the luxury brand has taken the top spot in the influential survey.