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Saab gets approval for voluntary reorganization on appeal

...and Victor Muller smiles Victor Muller never says die, and the news that Saab has, after all, been granted the right to court protection from its creditors for a period of reorganisation has vindicated his stubborn refusal to give up on Saab. The Court of Appeal in Gothenburg has this morning overturned an earlier judgement by the District Court in Vänersborg which rejected Saab’s application to get the court’s protection during a period of ‘reorganisation’, which you can read as ‘Waiting for the dosh to arrive from China’. The news last week that Rachel Pang – a director of Pang Da, one of Saab’s putative investors – has come out in a very bullish way about the prospects for the investment by Pang Da and Youngman getting the final rubber stamp from China’s NDRC in Beijing won’t have harmed Saab’s case one bit.

Toyota recalls Prius models for steering fix

Toyota Motor Corp. is recalling 106,000 units of its first-generation Prius hybrid vehicle to fix a power steering problem that can make the car difficult to turn. About 52,000 of the cars were sold in the United States and 48,000 in Japan, Toyota said.

Renaultsport Clio (2012) surprises Goodwood

Renault surprised festivalgoers at Goodwood over the weekend when it sent the new 2013 Renaultsport Clio up the hill. The prototype hot Clio appeared twice at the Festival of Speed, driven by chief operating officer Carlos Tavares. Renaultsport Clio at Goodwood Festival of Speed 2012 The go-faster Clio was still wearing its prototype disguise when it went up the hill late on Friday and Saturday, as the crowds were thinning.