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Mercedes S500 Plug-in Hybrid revealed – gets official 94.2mpg

The Mercedes S500 Plug-in Hybrid (pictured) has been revealed There will come a point when legislators wake up and realise that car makers are getting too clever at gaming their CO2 based taxation and change the goal posts. But until then, cars like the new Mercedes S500 Plug in Hybrid – revealed today – are the perfect company buy. That’s because the clever use of a plug-in electric motor coupled with a relatively frugal ICE engine – in the case of the S500 Plug-in a 329bhp 3.0 litre V6 and 80kW electric motor – produce official economy and emissions figures that are really only valid under test conditions but save a big chunk of tax for buyers.

Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.

Camrys, Caddys and Civics--good-bye: Mainstream cars top stolen-vehicle report

Look out Honda and Toyota owners, your mainstream cars are hot targets for car thieves, according to LoJack's annual report. Apparently the high gasoline prices have hit everyone, including car thieves. Honda topped the list of recovered stolen vehicles, with the fuel-efficient 2000 Honda Civic being nabbed the most often for the second year in a row.