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Saab files for bankruptcy: the end of the Swedish saga

Saab has reached the end of the road - for the second time in two years, just before Christmas. Parent company Swedish Automobile today announced that Saab had filed for bankruptcy. Owner and acting CEO Victor Muller had been trying to sell Saab as a going concern and had come close to signing a deal with Chinese car makers Pang Da and Youngman, but the deal was blocked by former owner General Motors which feared its technology - powering the new 9-5, plenty of the 9-3 range and the 9-4X - would fall into opposition hands in China.

Saab gets latest lifeline via $5 million infusion from Chinese company

Saab has been on the edge of collapse since a cash shortage early this year forced it to halt production. Now Automotive News reports that a last-minute payment from China's Zhejiang Youngman Lotus Automobile has given the Swedish carmaker yet another shot. Youngman wants to get a stake in Saab and has taken the first step by giving the company $5 million to cover tax expenses, with another $26.43 million forthcoming for unpaid salaries and $13.18 million more before the end of December.

Volkswagen Golf Sportwagen TDI 4Motion concept: First look

The 2015 Volkswagen Golf Sportwagen gets a North American preview at the New York auto show next week as a very lightly disguised TDI 4Motion concept. The production Golf station wagon will get either a 2.0-liter TDI turbocharged diesel or 1.8-liter turbocharged gasoline engine when it goes on sale in the U.S. in early 2015, but VW representatives wouldn't confirm whether a production 4Motion Golf Sportwagen would be offered.