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Saab increase pay for Board members as Swedish Debt Office circles

Saab Meltdown gets closer It never rains, but it pours. And for Saab and Victor Muller it has been a year or more of almost unbroken storms, punctuated with just the odd ray of financial sunshine as Victor Muller combs the planet for investors to stake a claim in his chocolate teapot company. There has been no production at Saab of any consequence since April; many suppliers still remain unpaid despite substantial injections of cash from Chinese buyers; wages have not been paid and now, just to rub salt in the wound, it’s been revealed that board members received pay rises of up to 650 per cent in 2010.

Saab signs deal with second China partner

Saab has agreed to China's Zhejiang Youngman Lotus Automobile Co. taking an equity stake in the company as part of a distribution and manufacturing joint venture. Saab and its owner Spyker Cars NV signed a deal with Chinese car distributor Pang Da in May worth up to 110 million euros that involved setting up a joint venture with Spyker and a partner in China to start making Saabs in China within two years.

Lexus IS facelift (2011) revealed

The Lexus IS Range gets a facelift for 2011 The Lexus take on the BMW 3 Series – the Lexus IS range – has been with us pretty much unchanged for five years. So it’s certainly due a tweak or two plus it needs that certain little something many cars need at the moment – updates to conform with Euro 5 emissions which come in to play in January 2011. Across the IS range there are styling changes to mark out the 2011 models.