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Saab increase pay for Board members as Swedish Debt Office circles

Saab Meltdown gets closer It never rains, but it pours. And for Saab and Victor Muller it has been a year or more of almost unbroken storms, punctuated with just the odd ray of financial sunshine as Victor Muller combs the planet for investors to stake a claim in his chocolate teapot company. There has been no production at Saab of any consequence since April; many suppliers still remain unpaid despite substantial injections of cash from Chinese buyers; wages have not been paid and now, just to rub salt in the wound, it’s been revealed that board members received pay rises of up to 650 per cent in 2010.

Last McLaren P1 was sold on Sunday, says Ron Dennis

The McLaren P1 Supercar (pictured) is now sold out The LaFerrari may have sold out before it was even revealed, but with a long history of hypercars from Ferrari, that’s no surprise. But the McLaren P1, although a direct descendant of the fable McLaren F1, didn’t have the benefit of a long history of hard-core wealthy clients to call on for its sales, so McLaren has had to wait a while to complete sales on their entire run of 375 cars. But now they’ve done it.

Spyker signs deal with China's Hawtai Motor to raise funds for Saab

Saab owner Spyker Cars on Tuesday said it has signed an agreement with China's Hawtai Motor Group to form joint ventures for manufacturing, technology and distribution. The agreement will also provide $222 million (150 million euros) funding for Saab, which has been forced to halt production because it cannot pay suppliers' bills. Victor Muller, Spyker CEO and Saab chairman, said the partnership will allow Saab to enter the Chinese car market with a strong Chinese manufacturer.