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GM, Koenigsegg sign deal on Saab sale

General Motors Co. reached a deal Tuesday to sell its money-losing Swedish subsidiary Saab to Koenigsegg Group AB. The companies signed a stock purchase agreement that would give the tiny Swedish supercar maker 100 percent of Saab's shares, GM Europe said in a statement.

U.S. Transportation Department opens probe of 2010 Toyota Prius brakes

The National Highway Traffic Safety Administration said Thursday that it is opening a formal investigation of the 2010 Toyota Prius Hybrid to determine whether the vehicle suffers momentary loss of braking capability while traveling over bumpy surfaces. NHTSA, an agency that is part of the U.S. Department of Transportation, has received 124 consumer complaints, including four reports of crashes.

Chevrolet to pull out of Europe

General Motors is ‘strengthening’ its ‘European brand strategy’ by pulling Chevrolet out of mainstream markets in Western and Eastern Europe. This is ‘largely due to a challenging business model and the difficult economic situation’ – but does not mean that Chevrolet is set to disappear entirely. On Bing: see pictures of European Chevrolets Find out how much a used Chevrolet costs on Auto Trader Instead, Chevrolet ‘tailor its presence’ by offering only select ‘iconic’ vehicles from the marque’s global portfolio.