After more than a year of struggle under Spyker’s management, many thought Saab would have succumbed to its financial woes already, yet somehow the Swedish automaker has been able to pull a few tricks out its bag just as it would seem that its luck had run out.

The latest reports indicate that Saab’s two Chinese suitors, Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co., are aiming to complete an investment deal on Saab by the end of 2011. According to the lawyer of Pang Da Automobile, Peter Goes, “The deal can be closed before the end of the year. They [Pand Da] are most impatient on getting production restarted. The main interest of our client is getting the cars into China.” Getting production restarted is especially crucial as Saab’s Trollhattan assembly plant is currently at a halt due to money owed to their suppliers and workers.

The final obstacle hindering Pang Da and Zhejiang’s $245 million Euro deal is obtaining approval from the Chinese government. As the automotive industry within China balloons, the Chinese government has been reluctant to let it expand much further, at least not without their supervision.

When given the green light, Pang Da and Zhejiang will receive rights to distribute Saabs, and are in development for plans to assemble Saabs in China as well.

[Source: Reuters]

It’s that time of the year again as Car of the Year begins the laborious task of whittling down new Car of the Year contenders for 2012.

A total of 59 journalists, representing automotive authorities across 23 European countries, have been recruited for the task of choosing top car. The number of journalists to represent each country is based on the relative size of the said country’s car market. Countries like Spain, Germany, Italy, and Great Britain have a well established market, and each will be represented by six journalists.

As for cars, only completely redesigned new models that have launched within the twelve months before the contest are counted. Each car must be available in at least five European countries and must have an expected sales volume no less than 5,000.

Categories considered include design, safety, performance, and price. This year, says the judging committee, technical innovation and value will be especially influential. What also makes Car of the Year unique is the absence of separate genres for its candidates. Rather than selecting the best of the compacts or the best trucks, vehicles with all sorts of engine size and body types will be vying for the same allotment of points.

Comparison testing of the vehicles will be performed in Sweden.

The following 35 candidates selected for the 2012 Car of the Year award include:

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Photos of a wildly modified Lexus LS surfaced last week and now we have the first video of the car lapping the Green Hell.

Called the Lexus LS TMG Edition the car was built by Toyota’s Motorsports Division, although it’s not clear for what purpose. Spy photos of inside the Toyota garage where the car is housed (along with a custom LFA GTE race car) have revealed that it makes 650-hp, from a 5.0-liter engine, although it’s not known if this is a V8, V10 or if it sports forced induction.

The car certainly raises questions as to why Lexus seems to be developing a Mercedes AMG S-Class fighter, or if this is perhaps just some wild one-off intended for the Tokyo Auto Salon.

Watch the video after the jump:

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It’s fair to say that any ‘ordinary’ Maybach is a decidedly rare beast. So it comes as no surprise that this, the Edition 125 ranks as absolute hen’s teeth.

Currently on display at the 2011 Frankfurt Motor Show, this one-off special was conceived to celebrate parent company Daimler AG’s 125 years of making automobiles as well as the legacy of legendary stylist Wilhelm Maybach.

In addition, it showcases just what’s possible in the world of ultra high-end bespoke luxury sedans, as a result it employs such indulgences as contour lighting and a laser engraved lit motif incorporating Maybach’s famous ‘Double M’ logo in the front seat armrest, as well as glovebox lid embroidered with Wilhelm’s signature, along with silver colored topstitching.

Exterior ‘enhancements’ include high contrast 20-inch alloy wheels, a re-profiled hood, special grille, and Tahiti Black and Patagonia Silver paint, the last two of which have been added to the regular Maybach range.

Under the hood of this one-of-a-kind beast, is the standard Maybach V12, a 630 horsepower twin-turbocharged  monster that actually meets EU5 emissions requirements. Who says you can’t be extravagant and environmentally conscious at the same time?

Saab‘s museum collection of historically significant vehicles was seized by Swedish authorities from the company’s museum. The Swedish Enforcement Office took possession of  the museum and other contents, including 13 exhibits, 22 engines and six workshop tools.

Saab is said to owe parts suppliers more than $31 million in overdue payments, and the Swedish government is moving to seize Saab’s assets. Saab was said to have been readying to sell off its museum collection, but was granted protection from creditors, enabling them to hold off attempts to seize assets.

[Source: Left Lane News]

In perhaps a case of robbing Peter to pay Paul, head of the Canadian Auto Worker’s Union, Ken Lewenza  has expressed some concern over a tentative new agreement south of the border between the UAW and General Motors.

The problem centers around the fact that in order to meet the new UAW bargaining agreement, part of GM’s production of its small SUVs, the Chevy Equinox and GMC Equinox might be moved from the CAMI plant in Ingersoll, Ontario, down to Spring Hill, Tennessee.

At present, GM hasn’t made any official announcements regarding the move, though an article in Nashville based newspaper, the Tennessean claims the General is seriously considering such a strategy, citing economic officials.

The resulting story was enough to cause concern for the CAW, making the matter more worrisome is the fact that GM has already pulled such a move, shifting production of it’s full-size Chevy Impala sedan, from Oshawa, Ontario, to the Hamtramck plant on the outskirts of Detroit, something Lewenza says he also first heard about through the newspapers.

As regarding the Tennessee rumors, during an interview with trade publication Automotive News, Lewenza said “where there’s smoke, there’s usually fire.”

[Source: Left Lane News]

Suzuki may be an also ran in America, but in India, their Maruti Suzuki partnership can boast the title of “best-selling car” with their Alto subcompact. With a population of 1 billion people, the Indian market is a significant one, and the Japanese auto maker is facing competition not just from home grown efforts like Tata, but Hyundai as well.

The Alto is a pretty antiquated platform, and Hyundai is hoping that their new effort, dubbed the Eon, will not only be more technologically advanced, but price competitive, at around $6,000. Powering the Eon will be a 1.2L 4-cylinder engine making 80 horsepower.

[Source: Indian Drives]

This past week, The International Motor Press Association (IMPA) held a track day at the Monticello Motor Club in New York, where a number of automotive journalists from various publications gathered together to test cars, critique each vehicle’s merits objectively, and perform all the good work being an automotive journalist entails.

Unfortunately, during this particular track day, the good times stopped rolling. One of the journalists at the event took a turn for the worse and wrecked a 416 horsepower Lexus IS-F test car, effectively committing what is probably the most humiliating thing any automotive journalist can do while in the company of his peers.

Luckily, no one was harmed in the incident, although one journalist’s ego was likely bruised.

[Source: Jalopnik]

Most people’s conception of tuner cars are brightly colored Honda Civics or other econoboxes with underbody neon lights, not to mention the requisite loud muffler.

But this heavily modified Toyota Camry has enough horsepower on hand to beat down nearly anything on four wheels, without giving away anything visually.

This mid-1990s Toyota Camry has a specially designed turbocharger setup mated to its 3.0L V6, with a giant T51 turbocharger helping to crank out the astronomical power figures. Check out the video below to see the Camry doing its thing on a dyno.

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After a two year alliance between Volkswagen and Suzuki, relations and communication quickly deteriorated earlier this September after Suzuki had gone to Fiat to supply their engines. Volkswagen, upset at the deal, very publically claimed it was a serious breach of Suzuki’s contract.

Now, Suzuki Chairman and CEO, Mr. Osamu Suzuki, is demanding Volkswagen to withdraw the claim, as it stains Suzuki’s global reputation and public image. Osamu also insists that the deal with Fiat does not violate any contractual agreements with Volkswagen.

According to Suzuki, the matter of buying Fiat engines had been discussed with Volkswagen back in January and both sides accepted the terms. The reason behind the deal is Suzuki’s need of an engine that would meet specified parameters for their Sx4 compact. Fiat had such a 1.6 liter diesel engine available while Volkswagen did not.

The unraveling relations have accelerated as a very upset Osamu Suzuki says, “Volkswagen’s notice and press release hinder our effort to develop attractive new products and significantly disparage Suzuki’s honor. I think you can share my view why Suzuki would like to dissolve partnership and cross-shareholding relationship with Volkswagen.”

Volkswagen currently owns a 19.89 percent share of Suzuki while Suzuki holds 1.49 percent of VW. Initially expecting benefits from the alliance, Osamu is frustrated by two years of, “Ball and chain for our managerial independence.” Osamu intends for Suzuki to abandon its 1.49 percent holdings of VW and demands that VW sell all 19.89 percent of its stake in Suzuki as well.

While it is clear that Suzuki is stubbornly convinced their relationship with Volkswagen has come to an end, VW has no intention of selling their stake in Suzuki. Earlier this week, Volkswagen also announced their ambitions to grow into a larger automaker.

[Source: Automotive News]