AutoGuide News Blog
The AutoGuide News Blog is your source for breaking stories from the auto industry. Delivering news immediately, the AutoGuide Blog is constantly updated with the latest information, photos and video from manufacturers, auto shows, the aftermarket and professional racing.
It has styled some of the most memorable cars in history, including scores of Ferraris, but more recently the famed design house Pininfarina, has fallen on hard times. It’s been up for sale for several months, though now, might have a potential buyer, in the shape of Bejing Automotive Industry Corp (BAIC).
Fueling the speculation that BAIC is in the process of a serious bid for Pininfarina, are quotes from a Chinese website (ee0.com) which said that an unnamed BAIC executive recently returned from Italy where he was in discussion with Pininfarina regarding collaboration on a new car based on the Saab 9-3.
BAIC currently owns the tooling, intellectual property and powertrain technology from the current Saab 9-3, which it purchased from General Motors and is already working on several new cars based on this platform, a new Pininfarina styled 9-3 could be one of them. If such a car does indeed materialize, it will probably make its debut at the 2011 Beijing Auto Show.
However, besides BAIC, that same media website (eeo.com), also reported that other Chinese firms, Anhui Jiangling and Brilliance, have also expressed interest in acquiring Pininfarina, along with India’s Mahindra and Canada’s Magna International. It’ll be interesting to see what happens.
[Source: Inside Line]
Rob Myers, founder of RM auctions, recently announced that a subsidiary of his company, Auctions America by RM had purchased the 235 acre Auburn Auction Park, previously owned by Kruse Inc. Kruse has experienced financial difficulty in recent months and had it’s auction licenses suspended in its home state of Indiana. The purchase of the auction park divests Kruse of any interest in the park, but Auctions America by RM has stated that it will put on an auction alongside the Auburn-Cord-Dusenberg festival, which has been a staple of the park for 40 years.
The purchase is also significant, because the 1974 running of the A-C-D festival represented the very first time that Myers himself attended a collector car auction. “All of us within the RM group of companies are very excited to take on these new opportunities and we look forward to upgrading the auction park and continuing to serve our clients,” he stated.
For information on the acquisition of the park click on the video link below of watch the video:
[Source: RM Auctions]