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Victor Muller sells Spyker sports cars to CPP

Supercar maker Spyker is to be sold. Coventry-based coachbuilder CPP has announced a memorandum of understanding (MOU) to buy Spyker Cars from Spyker Cars N.V, the holding company which owns Spyker and Saab. No. Saab remains under the ownership of Dutch company Spyker Cars N.V. This sale is of Spyker, the manufacturer of flamboyantly detailed mid-engined supercars. CPP has been supplying chassis and body panels for Spyker since the brand was relaunched in 2000, and completed an agreement to handle full manufacturing of the current range in 2009 – the production of Spyker cars moved from the Netherlands to Coventry in 2010.   The MOU, valued at €32m, will mean that CPP Global Holdings Ltd will become manufacturer and owner of Spyker – €15m will be paid straight away, with the remaining €17m paid over a six year 'earn-out' period.

General Motors halts Hummer production until sale is completed

General Motors will stop production of Hummers at the end of this week as the automaker waits for Chinese regulators to approve the brand's sale to Sichuan Tengzhong Heavy Industrial Machinery Co. Output of Hummer H3 and H3T models at GM's Shreveport, La., plant will resume once the pending acquisition is completed, Hummer spokesman Nick Richards said. Richards declined to specify what issues remain to be approved by the Chinese government.

Long-wheelbase stretch Jeep Wrangler spied

A Jeep Wrangler JK with a third row of seating was recently spied at a suburban Detroit gas station. Wearing manufacturer plates, at first glance it looked like a prototype being tested by the Auburn Hills manufacturer. Closer inspection of the photos showed pieces from Wixom, Mich.-based American Expedition Vehicles, including bumpers and wheels with the AEV logos covered by painter's tape.