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Fiat Americanizes its 500, complete with cupholders

The Fiat 500 subcompact might be Italian through and through, but the U.S. version that arrives in dealerships late this year will cater to American tastes. The American car will have a more powerful engine than the European version, a slightly softer ride and--most important--more substantial, American-style cupholders.

Mazda MX-5 Venture Edition for the UK

The Mazda MX-5 Venture Edition comes as a coupe or convertible The Mazda MX-5 Venture Edition – available as Convertible or Coupe – is the latest MX-5 Special Edition for the UK. Starts at £18,995. The Mazda MX-5 gets the same sort of marketing as the MINI or Fiat 500, with seemingly endless MX-5 ‘Special Edition ‘ versions to drag punters in to showrooms.

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.