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Best in Show from Frankfurt

The United States auto industry continues its strong recovery from the near-fatal recession of 2008/9/10. The European auto industry? Not so much.

2011 VW Jetta gets launched

The 2011 Volkswagen Jetta Volkswagen reckons that this latest Jetta is no longer a Golf with a boot to make a saloon but is instead a completely new stand-alone model, even though under its new skin – inspired by the VW NCC (New Compact Coupe) concept at New York this year – it sits on a stretched (by 70mm) Golf platform. To make the Jetta stand apart from its Golf sibling VW has fitted the Jetta with an all new dashboard with aluminium highlights and a leather trimmed steering wheel. All Jettas will come equipped with AirCon and CD stereo with touchscreen SatNav an option.

Saab unable to pay wages as financing crisis deepens

Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.'  While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.