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NHTSA upgrades probe of 1.2 million Toyota Corollas, Matrixes

Federal regulators have upgraded an investigation of as many as 1.2 million Toyota Corollas for possible engine stalling. Consumers have filed 1,101 complaints about Corollas and Corolla Matrixes for 2005-07 models, the National Highway Traffic Safety Administration said in a filing on its Website. “The engine can stall at any speed without warning and not restart,” NHTSA said in describing the problem.

New July 2009 issue of CAR Magazine

By Tim Pollard Motor Industry 20 May 2009 12:15 CAR Magazine's new July 2009 issue of CAR Magazine is now on sale. This magazine has a Nurburgring slant to it, as we end the pub argument once and for all: which is faster around the 'Ring, the Porsche 911 or Nissan GT-R? Plus we drive all the month's key debutants and bag a handful of exclusive stories you won't read anywhere else.

U.S. equity firm to invest $70 million in Saab

Race-car fan and private-equity executive Alex Mascioli is pumping $70 million into Saab as the Swedish automaker works to stay afloat. Mascioli's firm, North Street Capitol, is buying $10 million in shares of Swedish Automobile, which owns Saab, and is also giving the company a $60 million loan to pay for the carmaker's reorganization. U.S.-based North Street Capital struck a deal in September to buy the Spyker sports-car business from Swedish Automobile for $44 million.