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World’s fastest Nissan GT-R hits 250mph

Nissan wanted to make its GT-R supercar slayer ‘untunable’. It failed. Why?

Honda Gear Concept turns up in Montreal

The Honda Gear Concept has been revealed at the Montreal Motor Show this week, a small urban runaround aimed at young car buyers. Just to the north of the Detroit Show, there’s another motor show going on in Montreal, not that anyone expected anything of much interest to appear at the much smaller Montreal Motor Show. But it has.

Saab unable to pay wages as financing crisis deepens

Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.'  While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.