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Read the GM press release annoucing the sale of Saab to Spyker Cars

PRESS RELEASE: GM Reaches Agreement to Sell Saab to Spyker DETROIT -- General Motors and Spyker Cars NV today confirmed that they have reached a binding agreement on the purchase of Saab Automobile AB. "Today's announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM,” said John Smith, GM vice president for corporate planning and alliances. “General Motors, Spyker Cars, and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this unique and iconic brand, and we're all happy for the positive outcome,” Smith said.

Audi R8 V10 – Cheaper than we thought

The magnificent Audi R8 V10 was officially launched at Detroit this week (although we brought you details on the R8 V10 over a month ago!), and it will cause some real problems for car manufacturers at this level – most noticeably Porsche. Which could be a problem, as Porsche owns Audi! Audi R8 V10 - Cheaper than we thought The R8 V10 seems something of a bargain at £99,575 OTR (or £104,665 for the R-Tronic), particularly if you compare cars with similar performance, such as the F430, which is nearly £40k more.

Ford debuts another Australian hot rod

Ford's Australian-based Performance Vehicles operation has unveiled its fastest car to date—the Falcon-based FPV GT R-spec. To be assembled at Ford Performance Vehicle's headquarters on the outskirts of Melbourne, the rear-wheel drive GT R-spec packs the same engine as the earlier GT335, a supercharged 5.0-liter V8 producing 449 hp and 420 lb-ft of torque. But, a range of chassis modifications, including a retuned suspension, wider 19-inch rear wheels and tires and new launch control system are claimed to provide the greater off-the-line speed than any previous model from Ford's Australian outpost.