General Motors has just announced that the sale of its Swedish Saab unit to Dutch exotic car maker Spyker has been completed. The new company, called Saab Spyker Automobiles, will now begin a new era for Saab, saving thousands of jobs in Sweden and at dealerships in the United States.

Saab Spyker will begin to sell its new 9-5 model in North America this spring, likely in both a 220-hp and 300-hp form. Saab also has plans to begin production of the 9-4X crossover, based on the same platform as the Cadillac SRX, in the near future. A new 9-3 model is scheduled to come to market in 2012.

Official release after the jump:

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In a prepared statement before the House Committee on Energy and Commerce, Toyota President Jim Lentz reiterated Toyota’s continued stand that the issue with its many recalled Toyota models is mechanical and not electronic. Lentz commented that Toyota hired Exponent, a top engineering and scientific consulting firm, to examine its electronic throttle system to see if there were any issues. Toyota gave Exponent an unlimited budget and no electronic problem was found.

Lentz also said that it is repairing recalled vehicles at 50,000 a day and has so far fixed one million vehicles.

In response to this statement during opening remarks during the hearing, Edward Markey, D-Mass., commented that the investigation was incomplete and that just six vehicles were examined and not all of them, as he would like and deems crucial.

Interestinly, congressman Phil Gingrey pointed out that while getting the facts is important, appearing impartial is also important, commenting that the government currently owns both General Motors and Chrysler and so has a vested interest in their success and the failure of competing automakers.

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Get more Toyota Recall News at the AutoGuide Toyota Recall News Hub

Read Jim Lentz’s complete testimony after the jump:

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After ABC News aired a segment yesterday where an expert was able to recreate a case of unintended acceleration, Toyota has taken to the offensive and challenged the news outlet and its source. In a video segment (see below), David Gilbert, an automotive technology professor at Southern Illinois University, recreates the problem in a Toyota Avalon, by introducing a short circuit to the controls to show that in such a circumstance the ECU does not record a fault and does not go into a “limp-mode.” The “short circuit” that Mr. Gilbert has introduced is intended to replicate a similar situation caused by moisture or wear.

Toyota has said that it has already been in touch with Mr. Gilbert using a similar setup in a Toyota Tundra and that in that circumstance the introduction of a transistor to create the short circuit creates, “an abnormal connection between two otherwise independent signals coming from the accelerator pedal sensors.” In other words, Toyota is asserting some pretty basic science, that the introduction of a new variable pretty much negates the process.

In an effort to set the record straight, Toyota has said it would like to investigate Mr. Gilbert’s new method and the Avalon in question, inviting ABC News to come along.

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See the ABC news video and Toyota’s response after the jump:

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While we’ve heard several rumors before that Acura is reconsidering getting into smaller cars, a new report by Automotive News is the most credible yet. According to AN, Jeff Conrad, the VP of Acura confirmed at a recent dealer meeting that the brand is looking at expanding its lineup with a new vehicle that would slot in underneath the TSX. While there’s some speculation that Acura would bring the Canadian CSX (essentially a rebadged and gussied-up Civic) to the U.S., the report says this new model would compete against the BMW 1 Series, Audi A3 and Volvo C30. It would also help Acura meet increasingly strict CAFE regulations.

That being said a small hatchback or coupe is likely and so our immediate guess is that Acura could revive the much-loved RSX badge – perhaps even using the CR-Z as a base. After all, if the goal is to create a fuel-efficient model and Acura has made known its plan to expand into hybrids in the near future, an Acura branded CR-Z might work – although it would have to have a more powerful engine, something that has been rumored in a CR-Z Type R.

[Source: Automotive News via Autoblog]

As hearings into Toyota’s recall woes begin today in Washington, the automaker has announced that it will install a new brake override feature on an expanded range of vehicles. The feature, initially announced for the 2007-2010 Camry, 2005-2010 Avalon, and the 2007-2010 Lexus ES 350, 2006-2010 IS 350 and 2006-2010 IS 250 models, will also be installed on all 2005-10 Tacoma models, 2009-10 Venza models and 2008-10 Sequoia models.

The brake override feature will automatically reduce engine power when both the brake and accelerator pedal are pressed. While this is not a part of the recall, it will be performed when recall work is done. Toyota says that it is “an extra measure of confidence for Toyota owners.”

Toyota has also said this brake override feature will also be standard equipment on most new Toyota models in the future.

Additional info can be found at www.toyota.com/recall or by calling the Toyota Customer Experience Center at 1-800-331-4331.

Find additional recall information at the AutoGuide Toyota Recall News Hub here.

Official release after the jump:

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It looks as though German exotic and luxury car tuner Mansory has got its hands on a new Rolls-Royce Ghost, which it will display at the Geneva Auto Show next week. The visual result is typically Mansory with lots of gold, including gold 22-inch wheels. Also in gold are several details, including the massive front grille. A complete aero package is also part of the modification process and the entire car has been painted in a royal blue.

Surprisingly, while Mansory normally steers clear of performance modifications the new twin-turbo V12 presents an easily-tunable package and so Mansory has swapped in larger turbos and upgraded the exhaust system to handle what is now a very impressive 720-hp (150 more horses than stock). Meanwhile, torque also increases drastically to 750 ft-lbs. As for the top speed, it has been increased to 193 mph.

We’ll be sure to bring you live photos of this potential monstrosity from the Geneva Auto Show with live coverage starting March 1st.

Click here for AutoGuide’s live 2010 Geneva Auto Show coverage starting Monday, March 1st.

GALLERY: Mansory Rolls-Royce Ghost

Official release after the jump:

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According to Fiat CEO Sergio Marchionne, his company’s stylish Alfa Romeo brand will return to North America in the next 24 months, meaning that models should be on sale in 2012. “I’m a lot more confident now that Alfa Romeo will reconstitute a product offering that is acceptable globally, and more in particular in the United States and Canada,” said Marchionne to Automotive News.

According to AN, the vehicles most likely to arrive in North America are the successors to the 159 and 166 models, which are believed to be based on upcoming Chrysler world platforms. The 159 would show up in 2012 and ride on Chrysler’s new compact wide midsize architecture, which is also believed to underpin the next Caliber and PT Cruiser – which is odd, considering they are compacts. As for the 166, it may ride on the next generation of Chrysler’s large rear drive platform, which will also be used for the 300 and Dodge charger.

It is not clear how Marchionne intends to position the Alfa brand in the U.S., especially using similar low-dollar platforms to Chrysler models and with Alfas normaly commanding much higher dollar values and delivering a higher level of performance and sophistication.

[Source: Automotive News via Autoblog]

For most people in the world, getting hold of a very expensive and very limited edition Aston Martin One-77 supercar has its obstacles. The 1.7 million dollar price tag is a start. Then there’s the fact that Aston has said it will only built just 77 of the exotic beasts.

But proving that money most certainly talks, one individual has decided to purchase 10 (yes 10) One-77s. According to a report on TopSpeed, the Middle Eastern buyer purchased the vehicles for his family for a cost of $23 million. At the 1.7 million price tag, that leaves room for a several million dollar tip.

Like the McLaren MP4-12C or Lexus LFA, the One-77 is made using a carbon fiber monocoque to keep weight at an absolute minimum – just 3,300 lbs. Power comes from a 7.3-liter V12 making 750-hp. The car’s top speed is rated at at least 220 mph.

GALLERY: Aston Martin One-77

[Source: TopSpeed]

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Audi, a company that has long played second, if not third, fiddle to BMW (at least in North America) has just revived its antagonistic marketing strategy against its German rival. And why not. You don’t see BMW selling a V10-powered exotic or running victory laps around Le Mans.

Earlier attacks were mostly limited to billboards, but this new attack takes viral video form. The new ad boasts of Audi’s recent successes in winning three Car & Driver comparisons against rival BMWs. The vehicles include the S4, Q5 and A6. And as impressive as beating BMW is, what might be even more incredible is that the C&D editors, notorious for their love of BMWs.

Toyota has announced that it has received subpoenas from both the U.S. Grand Jury and the Securities and Exchange Commission (SEC) over documents related to “unintended acceleration” issues with millions or cars, as well as the braking system on the Prius.

This news comes a day before congressional hearings on the matter and a day after it was revealed that Toyota boasted on an internal document that due to lobbying it had avoided a costly recall that would have cost the company $100 million.

According to a source of the Wall Street Journal, the investigation is being handled by the securities-fraud unit of the U.S. attorneys office, which has been used in preliminary criminal investigations on high profile cases. The Department of Transportation is also examining if Toyota did not issue recalls in a timely manner. If found guilty, the Japanese automaker could face a fine of up to $16.4 million.

Later this week, Toyota CEO Akio Toyoda will testify before the House Committee on Oversight and Government Reform.

[Source: WallStreetJournal]