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SEAT SUV confirmed for 2016

SEAT Compact SUV gets a green light for 2016 (SEAT IBX Concept pictured) SEAT has been threatening to build a compact SUV for years, and back in 2011 it revealed the IBX Concept (pictured above) which was the SEAT take on the Audi Q3. Now, finally, it seems VW has signed-off on SEAT’s compact SUV and the new compact SUV will hit the market in 2016, hopefully giving SEAT’s poor sales a real boost. Expected to be based on the VW MQB platform, the SEAT SUV should enable SEAT to properly compete in Europe and tap in to a market that has grown by 40 per cent in the last few years whilst SEAT’s existing market for its cars has shrunk and been compromised by a weak economy in Europe where the vast majority of SEAT’s sales are made.

CPP comments as investor Vladimir Antonov loses his bank. Arrest warrant issued.

Vladimir Antonov - Arrest warrant issued over Snoras Bank collapse Russian businessman Vladimir Antonov has been busy buying up a raft of car companies (and Portsmouth FC) in recent years. But there are now big questions about how he financed that. Vladimir Antonov is the main shareholder in Lithuanian Snoras bank (he owns 68 per cent) and in Latvijas Krajbanka via a 60 per cent stake owned by Snoras.

Ferrari exec to take over top post for Lotus

A top executive is trading in his Ferrari red for the green of Lotus. Dany Bahar will take over as the CEO of the British sports-car maker on Oct. 1.