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Caterham plans to expand lineup under new owner, report says

Caterham Cars is growing its sports-car lineup, fueled by new owner Tony Fernandes, according to the Web site of U.K. car magazine Autocar. Fernandes's Team Lotus Enterprise, which owns the Team Lotus Formula One team, also plans to introduce the existing Caterham Seven and SP.300/R models to new markets.

Spyker warns that Saab's future is 'uncertain' without fresh funds

Spyker Cars NV, the Dutch parent of Saab, said the Swedish automaker's financial situation is worsening and warned that Saab's future is at risk without additional financing. In its annual report released today, Spyker said the company's "continuity" could become uncertain unless it secures extra funds to finance ongoing operations and the execution of its business plan. Earlier this week, Saab was forced to shut down production for short intervals after key suppliers halted parts deliveries for non-payment.

Factory Five Body Design Competition

Following in the footsteps of Local Motors, Factory Five is set to launch an open-sourced design contest to design its next car. Up until now, the Massachusetts-based company is famed for its Type '65 Shelby Cobra Coupe replicas and its GTM racecar. Teaming up with Grassroots Motorsports Magazine, Factory Five is now launching the design contest to design the bodywork for its latest project: a Subaru Impreza-engined, rear-wheel-drive two-seater that is expected to sell for under $9,000 in kit form, or $15,000 as a complete car.