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First Sight: Holden Torana concept

Holden has stolen the limelight at the opening of the Australian International Motor Show in Sydney, unveiling a ground-up concept car dubbed the Torana TT36. The concept revives a famous Australian nameplate from the 1970s - appropriate since, like the original Torana, it features rear wheel drive and a six cylinder engine. That's where the similarities end, however, as the new Torana's engine is an experimental 280kW/490Nm twin turbocharged version of the new global V6 Holden has begun manufacturing for various parts of the GM world and which will eventually be used by Alfa Romeo.

Ford completes $14 million overhaul at its German design studio

Ford has opened a $14.5 million expansion of its design studios at Merkenich-Cologne in Germany. Global design work for Ford's subcompact and compact vehicles, including the Fiesta and the Focus, is done at the center, which is close to the automaker's Cologne factory where the Fiesta is built. The expansion is the largest since the studios were constructed in 1968 and increases the size by about 32,300 square feet to about 172,000 square feet.

Saab is sold again: two Chinese makers buy Saab

Chinese car makers Pang Da and Youngman today agreed to buy Saab in its entirety from Swedish Automobile. It's the latest extraordinary twist in the saga of Saab, which has been technically bankrupt since September 2011 and built just 11,000 cars this year. The deal, which will see the Chinese car makers pay €100 million for Saab, has not yet however been signed and sealed.