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Porsche Panamera Turbo Powerkit adds 40hp

Porsche Panamera with the new Sport Design Pack The Porsche Panamera has the same problem all Porsches have – it’s easy to admire but quite hard to love. And it goes further for the Panamera because it has to suffer the same sniping about its looks as its SUV sibling, the Porsche Cayenne. But Porsche aren’t losing sleep over the constant jibes about the ugly ducklings in their range.

Ford Fiesta back on top as car sales continued to rise in June

UK new car sales were up again in June 2012 with an increase of 3.5 per cent year on year. The Ford Fiesta is back as the top seller. It’s hard to credit that there’s a recession on when one of the biggest purchases most of us ever make – a new car – seems immune to the economic doom and gloom.

Saab unable to pay wages as financing crisis deepens

Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.'  While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.