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Sebastian Loeb smashes Pikes Peak record in Peugeot 208 T16 (video)

Sebastian Loeb smashes Pikes Peak record in Peugeot 208 T16 (pictured) This weekend saw the Pikes Peak hillcimb action, with powerful cars tackling the more than 12 mile course, with all its twists and turns, in a thrilling spectacle. But no spectacle was more thrilling that the run by Sebastian Loeb in the Peugeot 208 T16. The Peugeot 208 T16 (which bears about as much resemblance to your 208 as Loeb’s driving does to your Granny’s) gets a 3.2 litre twin turbo V6 with 875bhp, enough to hit 62mph in a scant 1.8 seconds and on to 150mph.

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.

Peugeot designers bring kids' car designs to life

Peugeot designers have brought six childrens' car sketches to life by rendering them as a prize for the 'Draw Me The Car of 2020' design competition, launched in collaboration with children's magazine Okapi. The six 10-15 year old winners – Clement, Thomas, Lena, Tom, Leo and Gaspard – were able to see their dream cars realized by Peugeot designer Olivier Gamiette, who worked on the EX1 concept car. Peugeot presented the first placed winner, Thomas, with a 270mm by 140mm model of his design at an awards ceremony held at the carmaker's design center in Velizy, France.