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Saab secures more funds as it seeks to avert collapse

Saab parent Swedish Automobiles has found another financial lifeline in China as the struggling carmaker faces possible legal action from unions over unpaid wages. In a statement this morning, Swedish Automobiles announced that an un-named Chinese firm has placed an order for 582 Saab vehicles, valued at 13 million Euro (£11.5m) with full pre-payment 'expected to be made this week'.  Saab plans to use the funds to pay wages and begin partial payments to component suppliers in order to restart production. Saab's financial crisis: the current situation.

Saab owners Spyker NV to become Swedish Automobile NV

Is the rain coming to an end at Saab? In the seemingly never-ending saga of Spyker and Saab it does now seem likely that the deal we reported last week with Chinese distributors Pang Da is going to pan out. The messy-looking deal with Pang Da has seen the beleaguered Dutch car maker receiving €30 million already from the cash-rich Chinese, which it’s using to pay-off its suppliers in an attempt to get production lines rolling again in Trollhattan.

Skoda reveals 2013 model offensive & extends new Skoda badge rollout

Skoda has revealed it is to launch six new models during 2013 and is also busy extending the rollout of its new badges across the Skoda range. Skoda has laid out its stall for 2013 early on, with a graphic posted on their Facebook page revealing new model plans for 2013 – all six of them. First out of the gate is the 2013 Skoda Rapid – which arrives this month – followed by the Skoda Octavia Hatch in March and the Octavia Estate in June.