Italian Government Targets Tax Evading Luxury Car Owners

Italian Government Targets Tax Evading Luxury Car Owners
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As the indebted Eurozone nation Italy struggles to stay afloat, the country finds many of its wealthier citizens evading taxes and refusing to do their part. As a result, Italy’s Polizia launched a major operation across Milan in late January, setting roadblocks to halt high-end luxury vehicle drivers. When drivers hand over license and registration,… Continue Reading...

GM Withdraws European Loan Applications, Opts to Fund Opel/Vauxhall Programs Itself

GM Withdraws European Loan Applications, Opts to Fund Opel/Vauxhall Programs Itself
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However with the German government seeking to enter new negotiations, GM has pulled the plug on external fundling. Continue Reading...

Report: General Motors Considering Keeping European Opel Unit

Report: General Motors Considering Keeping European Opel Unit
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After announcing earlier this week that it has not reached a deal to sell Opel, General Motors is now apparently exploring options to keep the European unit. This news comes as a surprise considering selling off Opel is a part of the company’s viability plan as submitted to the U.S. government in order to receive… Continue Reading...

Report: GM Signs Over Saab to Koenigsegg

Report: GM Signs Over Saab to Koenigsegg
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General Motors has signed an agreement to sell off its Swedish Saab unit to the Koenigsegg Group. Led by supercar maker Koenigsegg, the group includes several additional investors. The deal will see the Koenigsegg Group take a 100 percent stake in Saab. In a statement Koenigsegg Group CEO Christian von Koenigsegg said that the group… Continue Reading...

Magna Bid to Buy Opel May Fall Through as GM Poised to Sign Agreement With Rival Bidder

Magna Bid to Buy Opel May Fall Through as GM Poised to Sign Agreement With Rival Bidder
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After continued rumors that General Motors was still shopping-around its European Opel operations, it appears as though a new buyer has been found. RHJ International, a Belgian company has been cited as the latest bidder and apparently a tentative deal could be signed by the end of the week. Initially Opel was slated to be… Continue Reading...

GM Announces Official Yet Tentative Deal to Sell Saab to Koenigsegg

GM Announces Official Yet Tentative Deal to Sell Saab to Koenigsegg
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General Motors has officially announced it has reached a tentative deal to sell its Swedish Saab brand to a group of companies lead by Swedish supercar-maker Koenigsegg. The deal will see the Koenigsegg group receive $600 million in funding from the European Investment Bank, which has been guaranteed by the Swedish government. GM will provide… Continue Reading...