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Yesterday General Motors announced that they had reached a binding agreement with Dutch supercar manufacturer Spyker Cars on the purchase of Saab Automobile AB. The Swedish Government and European Investment Bank have thrown their weight behind the transaction.
The fate of Saab has been unknown ever since GM (facing serious financial strain due to the ailing American economy) said that it was looking to dispose of Saab which it has owned since 2000. At first it looked like fellow Swedish supercar manufacturer Koenigsegg Group AB would purchase Saab but the deal was scrapped later due to timing uncertainty.
This is undoubtedly good news for everyone involved, but especially for Spyker because they have the advantage of buying a company at bankruptcy prices but with very little of the negative goodwill that is normally associated with such a deal. GM has taken the brunt of the bad publicity and Saab (although not the strongest of companies) in seen to have just been in the wrong hands at the wrong time.
Autocar is reporting that during an interview with VW Group Chairman Martin Winterkorn, the first official confirmation that a sub-Boxster sports car was being evaluated. He went on to say that it would probably not arrive before …
Some good news for all us small and downright beautiful car lovers – Fiat’s CEO Sergio Marchionne recently announced in a teleconference with financial analysts that Fiat will finally be launching the new Panda in 2011.
A few readers might already know this but Toyota has not had the best of times over the last two weeks or so. It seems that under certain very rare conditions the accelerator pedal mechanism maybe be harder to depress, slow to return to the idle position or remain open in a partially depressed position. In other words, you could find yourself going forward long after you decided not to.
The American press has been buzzing about this for the better part of this week as rumoured pedal issues transformed into a full blown recall, culminating in Toyota including Europe and South Africa in the list of affected countries last night.
Toyota South Africa is on record saying that it is currently investigating which vehicles may be involved in the recall and will make an announcement in due course, but in the mean time here is the list of European Toyotas that are affected (built between February 2005 and February 2010)