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Saab says it will restart production after securing short-term loan
Mon, 02 May 2011Saab aims to restart production within a week after its owner, Spyker Cars, secured a 30 million euro ($44.7 million) short-term loan to help ease its cash crunch. Spyker said it will borrow the money from Gemini Investment Fund in a convertible loan agreement with a 6-month maturity. The interest rate of the loan is 7 percent a year and the conversion price is 4.88 euros per share.
Consumer Reports ranks the Kia Sorento third among small, midsize SUVs
Tue, 01 Jun 2010The 2011 Kia Sorento EX V6 now ranks third in the Consumer Reports ratings for small and midsize SUVs. Having earned an “excellent” overall score of 82 in recent tests, the Sorento trails only the Subaru Forester 2.5XT and the Toyota RAV4 V6. The magazine notes that the Sorento has a very firm ride and that the six-speed automatic transmission shifts smoothly.
CAFE standard set at 54.5 mpg by 2025
Wed, 29 Aug 2012The final version of the new corporate average fuel economy (CAFE) standard was released today and, as expected, automakers will need to attain a fleet average of 54.5 mpg by 2025. The rules include electric and hybrid vehicles and—as of today—natural gas vehicles. The Environmental Protection Agency and the National Highway Traffic Safety Administration proposed the rules in November, after reaching an agreement with automakers last July.



