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Saab seeks court protection from creditors
Wed, 07 Sep 2011Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.
Cadillac CTS-V Estate (Wagon) Spied – Where’s the Euro dealer network?
Sun, 07 Mar 2010The Cadillac CTS-V Estate Spy - Euro ready? It’s very sad that with a range of cars in its arsenal which could – probably for the first time ever – be taken seriously by European buyers, Cadillac are without a dealer network in the UK and Europe. Yes, they told us they were sorting that out and that ‘Cadillac back in Europe’ was a certainty. But really, it isn’t.
MINI Countryman to be built in India
Wed, 17 Apr 2013MINI sells worldwide – even in the US – and, despite claims it was a step too far for the brand, the MINI Countryman has been a big hit for MINI, offering as it does most of MINI’s charm but in a bigger, more family friendly package and with the option of All4 4WD for a degree of off-road ability (well, certainly the ability to treat boot sale car parks with disdain). Now, for the first time, BMW is to build the MINI outside Europe with a new MINi assembly facility coming on stream in Chennai, India, where BMW already makes 3 and 5 Series models as well as the X1 and X3. The plan is part of BMW’s plan of ‘Production follows the market’ where BMW aim to make their cars where they’re sold, so with the MINI brand showing strong growth in India since its launch it makes sense to build them there.