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Saab EIB loan repaid by Swedish Government

Sweden has repaid Saab's EIB loan With Saab in administration, the European Investment Bank (EIB) has called in the Swedish Government guarantee on Saab’s loan. In the midst of Victor Muller’s efforts to restructure Saab, Saab received access to a European Investment Bank loan of €400 million, of which it accessed some €217 million. But just like any less than credit worthy individual Saab needed a guarantor for the loan, which they received from the Swedish Government.

New Jaguar XE teased

Jaguar reveal a teaser image of the new XE Jaguar’s new smaller car – effectively a replacement for the Mondeo-based X-Type – has been coming for what seems a very long time, but it was finally officially announced at the Geneva Motor Show in March. At the time, all we got was a front-end view of the new XE as Jaguar attempted to whet appetites, but now we get the first official teaser from Jaguar of their new baby saloon. Covered in a bizarre camouflage of add-on panels and white paint, the XE looks to have the proportions of the XF, just on a smaller scale.

Richard Petty's second Spring Fling car show set for Memorial Day weekend

Richard “The King” Petty and Petty's Garage will hold its second-annual Spring Fling Car Show on May 26 at the shop in Randleman, N.C. The show is open to all makes and models and is sponsored by the Automotive Lift Institute. This event, which includes a cruise-in on Friday night, is free to the public.