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General Motors to shut down Saab

General Motors has announced that it will be closing the Saab brand after the company was unable to strike a deal with Spyker Cars. This follows from last month's withdrawal of would-be suitor Koenigsegg, leaving Spyker the sole contender in the acquisition of the ailing Swedish brand. According to Nick Reilly, GM's European president, the company has decided to cut its losses: "Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time.

UK Car Sales up again in October 2012

New car registrations rose in October by 12.1 per cent in the UK, the ninth month of 2012 to see rising car sales. The European car market may be in a real mess with carnage looming for production facilities run by mainstream car makers, but the UK continues to grow its new car market with sales in October up by 12.1 per cent. Total new car registrations (which includes pre-reg) rose to 151,252 units, the ninth monthly increase of 2012, and the SMMT are now predicting total sales for 2012 of over 2 million, back to 2010 levels after a fall in 2011 to below the 2 million mark.

Rumor mill: Porsche 928 successor on the way?

Porsche is reportedly planning a spiritual successor to the front-engine, rear-drive 928 coupe, according to U.K. magazine Autocar. The new grand tourer, which could wear the 929 nameplate, will be based on a shortened version of the Porsche Panamera platform and will be offered in both coupe and convertible body styles.