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New 2013 Ford S-Max Concept revealed

Ford will debut a new S-Max Concept at the 2013 Frankfurt Motor Show. As the name suggests, this previews a future replacement for the current S-Max ‘sports activity vehicle’ – the people carrier that does everything it can to avoid having you feel like you’re driving a people carrier… We’ve been given a sneak peak of the new MPV at a special pre-Frankfurt event in Dusseldorf – and if the thought of a sporty new S-Max gets your heart racing, don’t worry: this concept comes with an app for that. Please click the image above to read more about the 2013 Ford S-Max Concept

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.

Future of Ford Mustang plant in doubt as sales decline, Mazda bails

For Ford Mustang fans, it's tough enough getting beaten in the sales race by the car's long-term rival, the Chevrolet Camaro. Now the future of the Michigan plant that builds the Mustang is in doubt. Last week, Mazda Motor Corp.