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Saab seeks court protection from creditors
Wed, 07 Sep 2011Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.
Ferrari sets personal best in China
Wed, 05 Jan 2011It was a solid year for Ferrari in the burgeoning Chinese car market in 2010, as the Italian dream maker racked up its most impressive sales in that country with a tally of 300 cars. Sales were up almost 50 percent compared with 2009 results. With 10 current dealerships and the addition of some new business partners, Ferrari expects the added sales for Hong Kong and Taiwan will elevate the region to one of the company's top five international markets.
New Lexus IS UK debut
Fri, 15 Mar 2013The 2013 Lexus IS – revealed at the Detroit Motor Show – gets its UK public debut at the Ideal Home Show at Earls Court. The Ideal Home Show may not seem the obvious place for Lexus to show the new IS, but Lexus are the headline motor sponsors for the event and you can’t argue with the footfall; footfall that is probably predominantly bang on the Lexus target demographic. And the target demographic for Lexus may be a bit surprised that the new IS is a chunk more dynamic looking than its predecessor, with statement looks – taking cues from the LF-CC Concept – that make the new IS a far more appealing prospect.