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Saab on brink of closing after GM rejects rescue plan

Saab Automobile filed for bankruptcy on Monday and is on the brink of shutting for good after former owner General Motors rejected a rescue plan. The move sets the scene for the end of Saab's struggle to survive after months of hastily drawn-up deals for a company that hasn't made a vehicle in months. The latest plan involved Chinese automaker Zhejiang Youngman Lotus Automobile, but this was vetoed by GM, still a key Saab supplier, over the weekend "After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded," Saab's Dutch owner, Swedish Automobile, said in a statement.

Toyota's Tokyo treats

By Tim Pollard First Official Pictures 11 October 2007 10:16 Toyota Hi-CT Concept It's that time again: the bi-annual Tokyo Motor Show kicks off on 24 October 2007, and we're being treated to a flood of teaser information from the Japanese manufacturers. The Japanese show always attracts some crazy cars, and it's built a reputation as one of the few shows where you see some properly out-there concept cars. Toyota won't disappoint this year...

BMW Z2 at Geneva

BMW Z2 Spy shot snapped last year in the US The idea of a sub-Z4 roadster from BMW has been a round a while. Well, at least as long as the Z4 has. And while we have no idea if it will be called the Z2, it does seem logical.