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Saab seeks court protection from creditors

Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.

Honda Civic Type R Mugen 2.2 revealed. But why bother?

Honda Civic Type R Mugen 2.2 - will it sell? When Honda finally confirmed the Civic Type R Mugen for very limited production – just 20 were being made – back in 2009, we did comment that the price - £38,599 and a £12k premium over the stock Type R – did not auger well for sales. In the event Honda has only managed to shift sixteen of the original Type R Mugen, but despite that sales failure they have decided to punt out a more powerful – and inevitably more expensive – version of the Type R with a bored and stroke 2.2 litre version of the original 2.0 litre in the Type R – the Honda Civic Type R Mugen 2.2.

BMW M7 coming after all?

Despite BMW’s stating they will never make an M7, BMW’s American boss Ludwig Willisch says it will happen. Three years ago the BMW ‘M’ anoraks got excited when they thought BMW was about to produce a range-topping M7, but it turned out the photos that elicited their excitement were simply a 7 Series with an M Sport pack bolted on. In answer to the M-anorak’s disappointment BMW pointed out – very sensibly in our view – that the market for an M7 would be tiny and that you could already have a 760i M Sport with a stunning V12 and 0-62mph in 4.5 seconds.