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Spyker attempting to sell Saab real estate in money-raising move

The next chapter in the Saab cash crunch appears to involve Spyker selling Saab real estate to an unnamed financial institution, with the automaker leasing the property back for its operations. Saab has been forced to shut down production twice in the past few weeks in the wake of unpaid supplier bills, raising concerns that Dutch owner Spyker may be facing a liquidity crunch. The latest move is likely aimed at freeing capital for the automotive operations while the company negotiates for a loan with the help of the Swedish government.

Kia Track’ster is a bonkers 4wd 250bhp concept

The barking mad Kia Tracks'ter The Kia Trackster Concept has been revealed as a three-door, 250bhp, 4WD track version of the Soul. The Kia Soul may not be thye first car you’d think of turning in to a hot hatch, but that hasn’t stopped the Kia Track’ster arriving as a concept at the Chicago Motor Show today. Based on the Soul, the Tracks’ter (those Kia apostrophes again) gets 4WD, loses its back seats to what Kia call an “Integrated Equipment Tray” instead, gets a 2.0 litre turbo with 250bhp mated to a six-speed ‘box and a set of 19″ alloys.

Jaguar’s Mike O’Driscoll calls it a day

Mike O'Driscoll, Jaguar's M.D., is to retire in march 2011. Jaguar’s Managing Director Mike O’Driscoll has been a Jaguar man for longer than he probably cares to remember. In fact he joined Jaguar Rover Triumph (as it then was) as long ago as 1975, when he was a young business student.