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Spyker attempting to sell Saab real estate in money-raising move
Tue, 12 Apr 2011The 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.
A new batch of Ford Mustang Cobra Jets is on the way to racers
Wed, 17 Jun 2009The 40th Anniversary 2008 Mustang Cobra Jet, announced about a year ago, has been such a huge success for Ford Racing that the company will build a 2010 model, available later this year. Like the '08 CJ, just 50 examples of the turnkey race car will be built, the minimum number to homologate the car for competition in National Hot Rod Association events. An '08 Cobra Jet won its inaugural event in the Stock Eliminator Class in February at the NHRA Winternationals in Pomona, Calif., just as the original 1968 Cobra Jet did.
Top 5 most important cars at the 2013 Frankfurt motor show
Wed, 11 Sep 2013The five most important memorable cars in attendance at the world’s biggest motor show Nothing is as controversial as irritating your core enthusiasts, and the Audi Sport Quattro concept risks doing just that. Its name and styling riff off one of the most iconic cars in Audi’s back catalogue – and in WRC history – yet the new yellow version unveiled at the 2013 Frankfurt motor show has abandoned the five-cylinder engine, manual gearbox, and respectable kerbweight of the 2010 Quattro concept. In its place, we’ve an RS7-based coupe with the power of a Lamborghini Aventador (691bhp), twice the claimed economy of a Golf GTD (113mpg), but only because of a twin-turbo V8 mated to a hefty hybrid powertrain, and that means this new Sport Quattro weighs as much as a Bugatti Veyron Super Sport (1845kg).
