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Saab seeks court protection from creditors

Saab 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.

Jaguar Land Rover RECORD sales in 2013

Jaguar Land Rover RECORD sales in 2013 Jaguar Land Rover has been on a roll for the last few years, so it’s no surprise they’re reporting record-breaking sales for 2013. But the sales figures are, by any measure, impressive with a total of 425,006 cars sold between Jaguar and Land Rover in 2013 – an all time record and up 19 per cent on 2012. Sales success wasn’t concentrated in just one market either, with sales up in Asia Pacific and the China region by 30 per cent, North America up 21 per cent, the UK up 14 per cent, Europe up 6 per cent, and other overseas markets up 23 per cent.

Most hybrid owners don't buy another hybrid, Polk study says

Almost two-thirds of U.S. hybrid buyers returning to the market in 2011 chose something besides another hybrid. Excluding owners of the best-selling Toyota Prius, the repurchase rate among other hybrid buyers dropped to 22 percent, according to a Polk study released today.