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Spyker signs deal with China's Hawtai Motor to raise funds for Saab
Tue, 03 May 2011Saab owner Spyker Cars on Tuesday said it has signed an agreement with China's Hawtai Motor Group to form joint ventures for manufacturing, technology and distribution. The agreement will also provide $222 million (150 million euros) funding for Saab, which has been forced to halt production because it cannot pay suppliers' bills. Victor Muller, Spyker CEO and Saab chairman, said the partnership will allow Saab to enter the Chinese car market with a strong Chinese manufacturer.
Hot European sales delay U.S. launch of the BMW X1 possibly until 2012
Mon, 17 Jan 2011BMW won't launch the X1 small crossover in the United States before late this year, and the vehicle may not arrive until 2012 because of hot demand in Europe. "We are supply constrained," said Jim O'Donnell, CEO of BMW of North America. "As long as they keep selling them, I do not know when we are going to get it." The decision to delay U.S.
Ferrari sets price for the 458 Spider
Tue, 27 Sep 2011Ferrari has set the price of the 458 Spider at $257,000, with U.S. sales to start in January, In Europe, the sports car will cost 226,800 euros, or $309,000 at current exchange rate. Sales begin in October.