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Skoda Fabia vRS to be dropped due to poor sales. Is that a good idea?

The Skoda Fabia vRS (pictured) is being axed The current version of the Skoda Fabia vRS has been with us since the Geneva Motor Show in 2010, and it’s a cracking little car. It’s the Skoda version of the VW Polo GTI and comes with the same 1.4 litre TSI supercharged with a healthy 178bhp, 7-speed DSG gearbox and performance and economy that satisfies – 0-62mph in 7.1 seconds and 44mpg. But it seems buyers aren’t queueing round the block to drive off in Skoda’s hot little Fabia so it’s going to be dropped.

Saab says it will restart production after securing short-term loan

Saab 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.

F1 Budget Cap row over

MAx Mosley announces the budget cap row is over between the FIA and FOTA - and he's resigning. After a meeting today in Paris, the FIA has announced that it has reached agreement with FOTA to scrap the budget cap it was insisting on implementing from 2010. Quelle surprise!