Two Collectible Fishing Boat Safety Lights on 2040-parts.com

Saab on brink of closing after GM rejects rescue plan

Saab Automobile filed for bankruptcy on Monday and is on the brink of shutting for good after former owner General Motors rejected a rescue plan. The move sets the scene for the end of Saab's struggle to survive after months of hastily drawn-up deals for a company that hasn't made a vehicle in months. The latest plan involved Chinese automaker Zhejiang Youngman Lotus Automobile, but this was vetoed by GM, still a key Saab supplier, over the weekend "After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded," Saab's Dutch owner, Swedish Automobile, said in a statement.

No Logbook? No Sale

IT’S EASY to let your head rule your heart when buying a used car, but a leading industry expert is warning buyers not to part with their cash if the vehicle is missing its logbook. Used vehicle data specialists HPI says it has seen a rising number of customers fall prey to sellers passing on vehicles without a logbook, otherwise known as the V5C, leaving them vulnerable to a number of scams. Commenting on the issue, Phil Peace, Operations Director for HPI, said: “We’ve seen a number of buyers going ahead with a vehicle purchase without having seen the logbook for the vehicle.

Ferrari ramps up engine-making -- for Maserati

Ferrari is adding 250 workers and expanding its engine-building capacity, even as it says it will cut car production this year at its landmark factory in Maranello, Italy. Why the cause for growth? Ferrari is ramping up its in-house engine operation and will produce more V6 engines, which sister company Maserati will use in the redesigned Quattroporte sedan and the smaller E-segment entry, the Ghibli.