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Top-Selling Fiesta Earns Best Used Car Award From CAP

THE FORD Fiesta, Britain’s best-selling car, has been declared Used Car of the Year 2012 by car valuation experts CAP. Top of CAP’s criteria when choosing its Used Car of the Year were affordability, practicality, reputation and popularity in the used car market. Commenting on its decision, Mark Norman, of CAP, said: “It is always tempting for the motoring media and other industry observers to take ‘the petrol head’ approach when giving awards to cars which excite them, but the CAP Used Car of the Year Award recognises the contribution a car makes to both consumers and dealers.” Ford’s Fiesta continues to top the UK sales charts and the range is being further strengthened by the arrival of new models featuring class-leading fuel economy from six powertrains with CO2 emissions under 100g/km, as well as innovative new driver assistance and safety features.

GM, Koenigsegg sign deal on Saab sale

General Motors Co. reached a deal Tuesday to sell its money-losing Swedish subsidiary Saab to Koenigsegg Group AB. The companies signed a stock purchase agreement that would give the tiny Swedish supercar maker 100 percent of Saab's shares, GM Europe said in a statement.

GM, Chrysler sales fall more than 40 percent; Ford, Honda also slip

The biggest automakers posted some of the sharpest U.S. sales declines in September as demand dropped to its lowest level since April in the aftermath of the cash-for-clunkers program. The seasonally adjusted annual sales rate was 9.51 million units.