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Saab seeks court protection from creditors
Wed, 07 Sep 2011Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.
MINI Countryman JCW teased – heading for Geneva 2012
Tue, 13 Dec 2011MINI Countryman JCW teased MINI has started the tease for the most powerful Countryman – the MINI Countryman JCW – which will debut at the 2012 Geneva Motor Show. It’s not exactly a surprise that the MINI Countryman JCW is on the way. After all, MINI will never knowingly miss a niche sale, so producing a John Cooper Works version of the MINI SUV was always going to be highly likely.
NHTSA upgrades probe of 1.2 million Toyota Corollas, Matrixes
Mon, 23 Aug 2010Federal 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.
