Headlight Cover Kc Hilites 5609 on 2040-parts.com

Saab on brink of closing after GM rejects rescue plan

Saab Automobile filed for bankruptcy on Monday and is on the brink of shutting for good after former owner General Motors rejected a rescue plan. The move sets the scene for the end of Saab's struggle to survive after months of hastily drawn-up deals for a company that hasn't made a vehicle in months. The latest plan involved Chinese automaker Zhejiang Youngman Lotus Automobile, but this was vetoed by GM, still a key Saab supplier, over the weekend "After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded," Saab's Dutch owner, Swedish Automobile, said in a statement.

U.S. auto sales continue to plunge in February

February sales for each of the top six U.S. automakers plunged more than 37 percent in February--the worst month since December 1981. "We are in an automotive depression amid 'The Great Recession,' " Standard and Poor's analyst Efraim Levy said in a report.

CAR Most Wanted of 2014: Alfa Romeo Giulia

By Georg Kacher First Official Pictures 20 December 2013 13:00 Strictly, the Alfa Romeo Giulia won’t go on sale in the UK until 2015, but given it was first slated for a 2012-dated (!) launch, we’ll allow it inclusion here. What’s the hold up? The first culprit was the all-important styling.