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Saab files for bankruptcy

Struggling Swedish manufacturer, Saab, has finally filed for bankruptcy. What may well prove to be the closing chapter in this ongoing saga could see the iconic brand laid to rest following months of uncertainty. A statement by parent company, Swedish Automobile NV (Swan) announced that: ‘After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded.

2014 Mercedes-Benz S63 AMG revealed

Mercedes-Benz's AMG performance-car division has officially revealed its new 577-hp S63 AMG ahead of the rapid sedan's public Frankfurt motor show debut in September. Several traditional AMG styling mods distinguish the S63 from recently introduced but lesser S-class models (“S-class Stunner,” Autoweek, May 27). They include a deep new front bumper, chromed blade grille, twin-turbo V8 badges on the side and beefed-up sills.

No sign of global auto meltdown at Tokyo Auto Salon

With more than 600 cars on display and a record number of exhibitors, nothing at the 2009 Tokyo Auto Salon tuner show hinted at the global economic downturn. As always, there was a great mix of styles, from hard-core, 1,000-hp, supertuned machinery to weird customized scooter tricycles. Auto manufacturers tried hard to capture the minds--if not the wallets--of the younger-than-30 crowd with customized versions of production cars, while tuners were busy persuading power junkies to choose them for their next engine modification.