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New recalls hit 2.7 million GM vehicles, from Corvettes to Saturns
Thu, 15 May 2014General Motors is recalling 2.7 million U.S. cars and trucks for problems ranging from flawed taillamps and windshield wipers to brake problems, in an escalation of the safety crisis that has enveloped the company for months. GM said today it expects to book up to $200 million in charges in the second quarter to cover the cost of recalls during the period.
Porsche Boxster S: 2013 Autoweek Best of the Best/Car
Tue, 11 Dec 2012Today, Autoweek editors announced the Porsche Boxster S and Mercedes-Benz GL as the car and truck winners at the 2013 Best of the Best awards presentation. Editor Wes Raynal revealed the winners and presented Best of the Best trophies to representatives from the winning auto manufacturers. 2013 Porsche Boxster S: Autoweek Best of the Best/Car “As the only brand to have two models make our list of finalists, Porsche showed up in force,” Raynal said.
Saab EIB loan repaid by Swedish Government
Sat, 28 Jan 2012Sweden has repaid Saab's EIB loan With Saab in administration, the European Investment Bank (EIB) has called in the Swedish Government guarantee on Saab’s loan. In the midst of Victor Muller’s efforts to restructure Saab, Saab received access to a European Investment Bank loan of €400 million, of which it accessed some €217 million. But just like any less than credit worthy individual Saab needed a guarantor for the loan, which they received from the Swedish Government.