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GM agrees to sell Saab to supercar company Koenigsegg

General Motors confirmed Tuesday morning that it has a tentative agreement to sell Saab to a group led by Swedish supercar maker Koenigsegg Automotive. The deal would close by the end of the third quarter and put Saab in the hands of an upstart, boutique car company known for producing eye-catching cars with gaudy horsepower ratings and even gaudier price tags. The agreement includes $600 million in financing from the European Investment Bank.

Hiromu Naruse: ‘Godfather’ of the LFA ‘Not Famous Enough’

Hiromu Naruse & Lexus LFA Last year we reported the death of Hiromu Naruse, Toyota’s chief test driver and a man considered to be the ‘Godfather’ of the Japanese performance car, and particularly the Lexus LFA, a car which consumed the last decade of his life and became the final testament to his enormous skill. At 67, Naruse-san was still as involved as ever, and it was whilst driving a Lexus LFA with the Nurburgring Package he met his end on a public road near the Nurburgring. A track, incidentally, he had driven more than any other Japanese driver.

Hyundai drops out of shrinking Tokyo auto show

The incredibly shrinking Tokyo auto show just got even smaller. Hyundai Motor Co., the last major foreign automaker which was scheduled to participate in next month's show, has decided to pull out with just weeks to go, organizers say. “Hyundai called last week and orally confirmed their intent to cancel,” said Toyokazu Ishida, who administers the international exhibition for the Japan Automobile Manufacturers Association.