Saab gets approval for voluntary reorganization on appeal

...and Victor Muller smiles Victor Muller never says die, and the news that Saab has, after all, been granted the right to court protection from its creditors for a period of reorganisation has vindicated his stubborn refusal to give up on Saab. The Court of Appeal in Gothenburg has this morning overturned an earlier judgement by the District Court in Vänersborg which rejected Saab’s application to get the court’s protection during a period of ‘reorganisation’, which you can read as ‘Waiting for the dosh to arrive from China’. The news last week that Rachel Pang – a director of Pang Da, one of Saab’s putative investors – has come out in a very bullish way about the prospects for the investment by Pang Da and Youngman getting the final rubber stamp from China’s NDRC in Beijing won’t have harmed Saab’s case one bit.

Audi Q1 sub-compact SUV in 2016

The new Audi Q1 will look like a smaller Q3 (pictured) There was a time when saloon cars ruled the car sales charts, but they eventually went out of fashion to be replaced by the more practical hatchback. But, despite the demonising of the SUV by ‘green’ groups, compact SUVs/Crossovbers have become the favourite flavour for car buyers as they seek something practical and with the promise of a bit of go anywhere credentials (even if they are cosmetic rather than mechanical). So it’s no surprise to see cars like the Nissan Juke, Peugeot 2008 and Renault Captur starting to grab sales from small hatches.

De Tomaso sold by Rossignolo

De Tomaso sold to unknown investors De Tomaso – the ill-fated Italian supercar maker – has been sold by Gian Mario Rossignolo after a financially fraught revival attempt. De Tomaso seems fated to lurch from one financial crisis to another – as it has throughout its history – with the latest efforts by former Fiat executive Gian Mario Rossignolo to revive the marque floundering for investment. And it looks like Rossignolo has given up the fight and sold out to unnamed investors.