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GM officially bankrupt

GM finally enters Chapter 11 Bankruptcy The US Government is to provide £30 billion to fund the transition, with GM being split in to ‘Old GM’ and ‘New GM’. In exchange for the money the US Government will take a 60% stake in ‘New GM’ with all the toxic assets and liabilities being disposed of through ‘Old GM’. The restructuring will allow GM to survive on a third less sales than before (10 million instead of 15 million).

New Mercedes A45 AMG has 105 years of 4WD on its side

With the new Mercedes A45 AMG on the horizon – complete with 4WD – Mercedes chart the history of all wheel drive on their vehicles. We tend to think of 4WD road cars as a modern innovation, and certainly very few 4WD road cars hit the road in a mainstream way much before the 1980s (the Jensen FF was hardly mainstream before someone points out that was in the 1960s). But the history of 4WD goes back, certainly in the case of Mercedes, a surprising 105 years when Daimler built the Dernburg-Wagen, a 4WD vehicle that not only got all-wheel drive but all wheel steering too.

Saab reportedly sold to China’s Pang Da & Youngman for €100 million

Saab Sold to China? Update: Just minutes after publishing this story we’ve heard from Saab confirming this report is correct and that the administrator - Guy Lofalk – has withdrawn his application for Saab’s court protection to be removed. The deal will be subject to Government approval.