71 Monte Carlo Driver Side Front Fender Extension / Headlight Surround on 2040-parts.com

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.

2013 Maserati Quattroporte night testing (video)

Maserati has released a video of the 2013 Quattroporte out night testing ahead of a Detroit Auto Show public debut. The new Quattroporte is bigger and more powerful than the current model and leaves Maserati room to introduce a smaller version – the new Maserati Ghibli – to take on the sports saloons from BMW, Mercedes and Jaguar. To be honest, the video tells us little we don’t already know about the new Quattroporte (except perhaps that it has frameless glass in the side windows), but it does indicate how keen Maserati are to keep the new Quattroporte’s PR momentum on the move ahead of its debut.

New MINI Crossman caught testing

The new MINI Crossman caught testing at the Nurburgring [ad#ad-1] Yes, the MINI has become ubiquitous ( to its detriment), and sales have fallen off, despite the plethora of variations on the market. But that’s not stopped BMW from pushing on with the MINI Crossman, which has been spotted testing at the Nurburgring this week. But, although I’ve moaned that MINI has lost its way of late, this particular MINI, odd though it may sound in concept, could be a real winner.