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Saab secures more funds as it seeks to avert collapse

Saab parent Swedish Automobiles has found another financial lifeline in China as the struggling carmaker faces possible legal action from unions over unpaid wages. In a statement this morning, Swedish Automobiles announced that an un-named Chinese firm has placed an order for 582 Saab vehicles, valued at 13 million Euro (£11.5m) with full pre-payment 'expected to be made this week'.  Saab plans to use the funds to pay wages and begin partial payments to component suppliers in order to restart production. Saab's financial crisis: the current situation.

BMW i3 Coupe & 3 Series GT: Geneva Motor Show 2013

The new BMW offerings at Geneva are the debut of the BMW 3 Series Gran Turismo and the European debut of the BMW i3 Coupe Concept. There’s nothing at the 2013 Geneva Motor Show from BMW that will set the column inches flowing, but BMW does have a couple of debuts in Switzerland to tickle interest – the 3 Series GT and the i3 Coupe Concept. The BMW 3 Series Gran Turismo comes under the heading of ‘Why would you build that’ (although, to be fair, we thought the same about the 6 Series Gran Coupe until we reviewed it) when BMW already offers the 3 Series Touring and, if you want something bigger, the 5 Series.

Fiat, Magna, investment firm are three finalists to buy Opel

Italian automaker Fiat, Canadian parts maker Magna International and Belgian investment firm RHJ International look to be the final three bidders for General Motors' Opel subsidiary. Fiat has confirmed that it put in a bid for Opel. Final bids for Opel were due Wednesday evening.