Swedish Automobile announced last weekend that it closed a deal to sell Saab to Pang Da and Youngman of China.
If all goes well, the Chinese company will own the Sweden car marque Koenigsegg since Volvo was bought by Geely two years ago for a higher price of about $2 billion which is more a lot more compared to the initially planned $141.7 million to purchase the whole of Saab Automobile and get the Saab GB Shares.
The CEO of Saab was pushed against the wall to go for the offer to sell the brand since the administrator of Saab appointed by the court has pushed to declare for bankruptcy. Victor Muler had to crossed out the July deal and nod to the Chinese firm’s offers.
The two sides have sealed a memorandum of understanding which will be good through November 15 while the company continues to go thru restructuring. The final agreement which proposes for the payment to be made in several installments is still for review by Saab shareholders and the Chinese authorities.
The administrator Guy Lofalk has withdrew his recommendation for bankruptcy and termination of reorganization of the company after the deal was signed.
The car manufacturer has been thru some turbulent times and everyone is hoping that the deal may end the rough ride especially for the workers of Saab. The carmaker has had several close calls with bankruptcy in the last few months.
According to Victor Muller, the deal gives light and hope for the future of the company. He sees the move to pave the way for a new CEO to take over. This will allow the company to move forward, attract investors, and restart with some stability.
He also sees the deal to be the best solution to the problem so the company can pay its creditors and also push for their plans to move into the Chinese market, which is the current largest automotive market at the moment. Muller will be CEO until the new top executive is hired.
Posted in Koenigsegg, Saab, Volvo.
Tagged with Koenigsegg, Pang Da, Saab, Saab Automobile, Volvo.
French automaker Renault S.A. said in a press release that the revamped Renault model, the Renault Samsung SM7 luxury car will be available in the Korean market this month. The model was launched seven years ago and it took a long while for the final product to be made available in South Korea. The initial tag price for the Renault Samsung SM7 in South Korea is somewhere between $28,150-$36,450.
The standard Renault Samsung SM7 luxury car is heavily patterned after the Nissan Teana, which made its first appearance last April during the 2011 Seoul Auto Show. The Nissan Teana was built from the Renault Samsung SM5 model and utilized the shared platforms and engine designs of the global alliance between Nissan and Renault.
The Renault Samsung SM7 luxury car was built in an assembly plant located in Pusan, South Korea. Its development cost lands in an estimated figure of about $300 million. The Renault Samsung SM7 luxury car’s direct competitors are the upcoming Kia K9 model and the Hyundai Grandeur.
The Renault Samsung SM7 luxury car two engine options: the 2.5-liter engine unit with 185 horsepower and the 3.5-liter power plant with 254 horsepower. Each of these power trains are attached to a six-speed automatic gearbox.
The luxury car’s overall design is sleek and powerful with bi-Xenon headlights, chrome trimmings, spacious cabin with lush interior features, and the impressive twin exhaust tail-pipers for quality performance engines. Other interior and engine specifications have yet to be revealed in future press releases from Renault.
Posted in Renault.
Tagged with car news, Renault, Renault news, Renault Samsung SM7, Samsung SM7 Renault.
Chrysler Group LLC announced the official price details of their brand new 2012 SRT product line recently which includes the much awaited 2012 Dodge Challenger SRT8 392. This fall, Chrysler’s SRT product line will officially go on sale.
This year is monumental for the carmaker because it’s the year when the Dodge Charger SRT8 and the Chrysler 300 SRT8 make their comeback as it failed to show up in the 2011 product line. The basic price tag for the 2012 Dodge Charger SRT8 will kick off at around $46,620 (inclusive of shifting cost) while the price tag for the 2012 Chrysler 300 SRT8 will start somewhere near $47,995 (inclusive of shifting cost).
The 2012 Challenger SRT8 392 will carry a massive 6.4-liter Hemi V-8 engine with 470 horsepower, plus a cold-package heated steering wheel, and an impressive Harman Kardon audio system as an add-on. Moreover, the 2012 Dodge Charger SRT8 gets the same engine power plus the a newly designed aluminum wheels.
In the same press conference last Friday, the carmaker mentioned their plan to upgrade their Street and Racing Technology by creating a separate company for it while still being under the umbrella company. This move will obviously make the SRT name a big heavyweight within the Chrysler brand.
The carmaker expressed that its new 2012 Jeep Grand Cherokee SRT8 is their best Jeep yet while it carries the same engine power as the rest of the above mentioned car models and the same Harman Kardon audio system.
Posted in Chrysler.
Tagged with car news, Chrysler news, Chrysler SRT, Dodge Challenger, Dodge Charger.
Land Rover recently announced the pricing for the new Range Rover Evoque in the United Kingdom. The tag price starts at £ 27,995 or roughly $39,984 at today’s exchange rates for the eD4 Pure 2 Wheel Drive model and a six speed manual gearbox. The 4WD 2012 5-door Evoque has a sticker price of £ 28,705. The top of the line of the brood is the Si4 Dynamic coupe with a six speed automatic gearbox and a LUX pack priced at £ 44,320.
The 2012 Range Rover Evoque will roll out onto the display rooms by September 2011 and will come in a 5-door and coupe versions.
Both models of the Range Rover Evoque will have an option for a gasoline or diesel engine. Buyers can choose from a turbodiesel 2.2L powerplant that gives out 148 horsepower or 187hp, or the turbocharged 2.0L direct-injected gasoline engine that can produce 236 horsepower. The latter can bring the Evoque from 0 to 60 miles per hour in a matter of 7.1 seconds.
Instead of trim hierarchy, Land Rover gives consumers three design themes to pick from with common standard features. The car manufacturer also allows personalisation of the vehicle so every detail of the Evoque will satisfy your requirements and taste. You will have a choice between PURE which is the closest to the concept LRX; Prestige which defines a luxury ride; or Dynamic which gives you a genuine sporting experience.
The Range Rover Evoque can fit the style the consumers want by giving you the option to choose from twelve exterior colors, 7 alloy rim designs, 3 roof treatments, 16 interior design options, and a panaromic roof glass.
Posted in Land Rover.
Tagged with car news, Evoque, Evoque 2012, Land Rover, Rang Rover Evoque 2012.
The Tacoma pickup from Toyota will have a new model this year that will be packed with new features and will also have the lineup revised. For the 2011 lineup, the Japanese carmaker is discontinuing 3 models with manual transmission and adding 5 models with 4-cylinder engines coupled with 4-speed automatic transmission. The new lineup includes the 4×4 Access Cab, 4×4 Regular Cab, Double Cab PreRunner 4×2, 4×2 Double Ca, Access Cab PreRunner 4×2.
The new features for the 2011 Tacoma will include a new grille design for the X-Runner, TRD Sport, TRD, Off-Road, the SR5, and the Base. The Regular Cab units will come with air conditioning as standard while the 4×2 versions will be getting 15-inch steel rims.
Continued…
Posted in Toyota.
Tagged with 2011 Tacoma, car news, Toyota news, Toyota Tacoma.
In this day and age, trying to find the right car for you can be almost an impossible task, as there are a ton of different cars that you need to look into and research before choosing. I am about to make your life quite a bit easier by compiling some of the top safety features and tips that you should be looking for!
For one, a navigation system is a fantastic way to ensure that if you do get into an accident that the police are notified so that they can get you help. OnStar is a fantastic navigation system that can truly do anything that you need it to do.
You also want to make sure that whatever car you are considering tests high in the crash test scores.
Posted in Auto News.
Tagged with cars, new cars, safe cars, safety cars, Safety Features/Tips.
When you think about it, spring and summer are right around the corner and just like in fashion, car colors change up and I can promise that there are very spring colors out there for your car. Purple is one color that you certainly need to make sure that you look into whenever you are looking to deck your car out in spring colors.
Now, there are many different colors of purple out there too and you want to make sure that you get one that is bright, brilliant and looks fantastic in the sunlight. Think about it, driving around in a car that is not only very spring-like but also looks awesome? You can not beat it!
Pretty soon you will be able to drive around in the nice and warm weather – so make sure you get yourself a purple car!
Posted in Auto News.
Tagged with cars, purple cars, spring cars, spring colors.
I have to say, I love concept cars — in general. What I mean is that, whether I think the design is amazing or absurd, I love the idea of concepts, I love being able to critique them, to see where any individual automaker is at in hopes of what it wants to try to get consumers to drive.
And I love to see the things automakers come up with, like the Istituto Europeo di Design, out of Turin, which is responsible for this, the IED Eye concept.
This is sleek, modern, the product of students who are part of one of the best transportation design programs in Italy (they created it) and Jorge Andres Pinilla Fonseca (who initially came up with the idea).
Posted in Concept Car.
Tagged with concept, Eye, IED.
While we know that the brand new Volkswagen CrossPolo debuted last year, there is still a lot of buzz about it and personally, I can tell you for sure that I am looking forward to this car. Not only does it have a ton of room on the inside, but the Volkswagen CrossPolo is actually a hatchback of the future, for it is completely stylish and looks totally fashion-forward.
If you have been waiting for a ‘soccer mom’ car that does not have that same style or feeling, the Volkswagen CrossPolo is definitely it. You also have the added benefit of buying a car from the Volkswagen family, which is something that I love.
You want a little car with a lot of power and a heck of a lot of room? The Volkswagen CrossPolo is it!
Posted in VW.
Tagged with cars, new cars, volkswagen, Volkswagen CrossPolo, VW.
Ford – oh Ford, you are coming up with some of the most interesting things in the world and in Chicago right now you are revealing some of the best products you have had as of late. Have you people seen the brand new 2011 Ford Edge? This is one car that I think that everyone should check out at least once.
The reason for that is because this particular Ford is actually for the eco-friendly person. Not only does it have a 2.0-liter EcoBoost four but it’s also turbocharged and is smaller than most Fords that you have seen come out. Ford is switching up their thinking right now and the Edge is keeping with that new focus.
If you want to test the all new Ford – you have to check out the brand new 2011 Ford Edge!
Posted in Ford.
Tagged with 2011 cars, 2011 ford, 2011 Ford Edge, Ford, ford edge, new cars.
Recent Comments