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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.
Goodwood Festival of Speed 2010 turns into a motor show
Thu, 18 Mar 2010New car buyers will be able to test drive cars up Goodwood’s iconic hillclimb, as the Goodwood Festival of Speed expands for 2010. Organiser Lord March is adding an extra day – Thursday 1 July – which will be a ‘moving motor show’ for as many as 30,000 guests. But instead of supercars or F1 racers powering up the hill, it’ll be showroom metal-only on the Thursday.
Ford puts the 2012 Focus ST through its paces
Tue, 10 May 2011Ford product gurus are hard at work flogging prototypes of the 2012 Focus ST on challenging roads around the world in preparation of the hot hatch's launch next year. The car debuted in concept guise at the Paris motor show and is the halo of the new Ford Focus lineup, packing 246 hp from a turbocharged four-cylinder EcoBoost engine paired with a six-speed manual. Ford released shots of the Focus ST in light camouflage today as it tries to build momentum for the sporty addition to its small-car lineup.