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Saab turns down takeover offer from Chinese investors

Swedish Automobile, owner of Saab, has turned down a takeover offer from China's Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co. Youngman and Pa Dang signed a nonbinding memorandum in July to take a combined 53.9 percent stake in Swedish Automobile for about $338 million.

Acura ILX concept

The luxury compact sedan is set to launch later this year, representing a move by Acura into the compact premium class for the first time in order to attract younger buyers into Honda's upmarket range. The car features a slimmer version of the Acura shield grille and lamps that are cut into by the bumper surface. In profile, the ILX's silhouette, DLO, and rear door shut line are reminiscent of the Lexus IS, but Acura's rising feature line, which forms a visual muscle over the rear wheel (despite front-wheel drive architecture) adds a level of distinction.

Ford Euro tuning partner Mountune sets up shop in US

U.K.-based Ford tuner Mountune is opening up a satellite location in California. The company is not well known on this side of the Atlantic, but across the pond it enjoys the status of being Ford's official European tuning partner. Mountune will be offering high-performance racing components for a number of Ford vehicles in the states, and we're excited to see what they'll be able to do with the rabid Ford Focus ST and Fiesta ST models.