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Ford offers $1 million in automotive design scholarships

After the passing of William Clay Ford Sr., Ford has announced that they will honor his memory and his contribution to the automobile with the creation of scholarships for automotive design students. William Clay Ford Sr., the last grandson of Henry Ford, died last week at the age of 88. Ford worked at the company that bears his name for 57 years, serving as chairman of the design committee for 32 of those years.

Ford Focus RS rolls off the production line

Ford has announced this afternoon that the much awaited Ford Focus RS has now started to roll off the production line at its plant in Saarlouis, Germany. Long awaited, and much anticipated, the Focus RS is going to be available in 20 countries throughout Europe, with its biggest markets being Germany and the UK. Ford Focus RS rolls off the production line The Focus RS has a number of unique features – apart from its performance – including a wider track and wheel arches, new front and rear bumpers and a choice of three colours – Ultimate Green, Performance Blue and Frozen White.

Spyker warns that Saab's future is 'uncertain' without fresh funds

Spyker Cars NV, the Dutch parent of Saab, said the Swedish automaker's financial situation is worsening and warned that Saab's future is at risk without additional financing. In its annual report released today, Spyker said the company's "continuity" could become uncertain unless it secures extra funds to finance ongoing operations and the execution of its business plan. Earlier this week, Saab was forced to shut down production for short intervals after key suppliers halted parts deliveries for non-payment.