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Saab plea for Court Protection dismissed – owes €150 million to creditors

Saab denied Court Protection - there seems no way out We hoped Victor Muller had found a way out of Saab’s financial woes by applying to the Swedish Courts for protection from its creditors while it waited for funds from China to arrive. But the application has hit a brick wall. The district court in Vanersborg said in a statement that there was no reason to believe protection and reorganisation would work for Saab.

Budget 2009 - UK gets £2000 scrappage scheme

By Ben Pulman Motor Industry 22 April 2009 15:15 Chancellor Alistair Darling has announced a £2000 car-scrapping incentive, and a surprise 2p per litre increase in fuel tax in the latest budget. Darling delivered his Budget speech at 12.30pm GMT today. Scroll down the page to see our edited highlights of the 2009 Budget, read in-depth details of the scrappage scheme and see how the motor industry has responded.

McLaren 12C Spider sells out in 2 hours at Neiman Marcus

The Christmas car for 2012 from US retailer Neimann Marcus – the new McLaren 12C Spider – sold out in just two hours. And it didn’t take long for the 12C Spider to sell out when it went on sale this week, with all 12 cars snapped up in just two hours – all $4.25 million dollars worth. Neiman Marcus were offering their 12C Spiders at a premium of $85k over McLaren’s US list price for the 12C Spider of $269k, but they were throwing in flights to the UK to have dinner with McLaren’s Ron Dennis and a set of custom luggage.