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Toyota to pay $32.4 million U.S. fine over timing of recalls

Toyota Motor Corp. agreed on Monday to pay two more safety fines for a total of $32.4 million, the maximum allowable under U.S. law, to settle federal investigations of whether the company notified regulators of safety defects in timely fashion.

Aston Martin CEO Dr Ulrich Bez on the Mercedes tie-up, the rise of turbo cars and the end of the Lagonda SUV project

MSN Cars is in Palm Springs, California, to drive the new Aston Martin Vanquish Volante and V12 Vantage S. Aston Martin, voted the second coolest brand in the world behind Apple, is celebrating its 100th year. Over an informal dinner, MSN Cars was given an exclusive chance to talk shop with Aston Martin CEO Dr Ulrich Bez to see what the future holds for the Gaydon-based company.

Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.