Wednesday, May 4, 2011

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VW Releases Mega Gallery of the New Golf Cabriolet

Posted: 03 May 2011 08:03 AM PDT


Following its Geneva show world premiere in March, Volkswagen has now released a comprehensive photo gallery of its new Golf Cabriolet. Featuring a fully automatic soft top that retracts in 9 seconds and up to speeds of 30 km/h (18.6 mph), the Golf Cabriolet continues the tradition of its three predecessors, produced between 1979 and 2002 in over 680,000 units. Read more »
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Italdesign’s Sexy BMW Nazca M12 Concept Could be Yours for $1.1 million

Posted: 03 May 2011 07:36 AM PDT


One of the most memorable concept models from the decade that brought us grunge, the internet, Playstation and the Prius, is Italdesign's series of BMW Nazca supercar studies. Designed by the great Giorgetto Giugiaro who was also responsible for BMW's production M1 sports car, the Nazca M12 made its debut in 1991 and was followed in by a more hardcore version called the Nazca C2 in 1992 and an open-top Spider C2 model in 1993.

Now, one of the Nazca concepts has been put up for sale by a dealer located in the Czech Republic. The car seen here is based on the body of the 1991 Nazca M12 but features an Alpina-prepped 5.7-liter V12 engine (sourced from the 750i / 850i of the era) producing 379HP.

Read more »
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Saab Details Partnership with China’s Hawtai Motor Group

Posted: 03 May 2011 05:55 AM PDT


In his attempt to save Saab- again, and after having secured short-term cash of €30 million (US$44.6 million), Spyker Car N.V. CEO Victor Muller's next move was to sign a strategic partnership with China's Hawtai Motor Group. Under the agreement, Saab will receive a €150 million (US$222.5 million) cash injection while the two companies will form joint ventures for manufacturing, technology and distribution.

As a part of the deal, China's Hawtai will invest €120 million (US$178 million) for up to a maximum of a 29.9 percent equity stake in Spyker on a fully diluted basis. Τhe remaining €30 million will be in the form of a convertible loan agreement with a 6 month maturity, an interest rate of 7% per annum and a conversion price of €4.88 per share.

Read more »
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