Saab Files for Bankruptcy and Asks for $1 Billion

GM has announced that Saab has filed bankruptcy in Swedish courts in an effort to reorganize the company and to become independent from GM.

The reorganization of Saab will lead to the design, engineering and manufacturing being concentrated back in Sweden. But in order for this to happen GM needs to secure financing, which is the main issue. The Swedish government already rejected GM's request for cash. According to the Automotive News Saab may need as much as $1 billion to remain sustainable on its own.

Currently Saab plans on launching three new vehicles of the next year and a half, the 9-3X, 9-5 and 9-4X...well that's if Saab can raise the money to sustain itself.

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Geneva 2009 Preview: Bentley Teases with a Biofuel Car

Bentley has released a single teaser image of its upcoming biofuel car that will be officially unveiled at the 2009 Geneva Motor Show.

Bentley hasn't released the official name of the car or any specs. According to Bentley the car will be Bentley's fastest, most powerful production car to date that also happens to run on biofuel.

Currently the most powerful car in the Bentley lineup is the Continental GT Speed with 600 horsepower and 553 lb-ft. of torque. So you can expect even higher numbers for this car.

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All-New 2010 BMW Z4 Officially Unveiled Before Detroit

Following several spy photos and photo leaks, BMW has officially unveiled the 2010 Z4 before its official unveiling at the Detroit Auto Show next month.

The new Z4 gets all-new styling that is both more aggressive (front end) and cleaner (back end). A new first for the Z4 is a two-piece retractable hard-top that ditches the soft-top from the last generation.

The Z4 also employs BMW's new naming scheme (sDrive) with the sDrive30i and sDrive35i. The sDrive30i is powered by a 255 horsepower 3.0L 6-cylinder engine and the sDrive35i is powered by the 300 horsepower 3.0L twin-turbo 6-cylinder engine. Both engines can be mated to either a a 6-speed manual or a dual-clutch 7-speed automatic with paddle shifters. The sDrive30i is also available with a six-speed automatic.

The all-new Z4 will be officially unveiled next month with sales starting in the fall of 2009.

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525 Horsepower 2010 Audi R8 V10 Unveiled in Red

Audi unveiled the Audi R8 V10 5.2 FSI quattro yesterday ahead of its official unveiling at the Detroit Auto Show next month. Now the first photos of the R8 V10 in red have been released.

The Audi R8 V10 is powered by a Lamborghini-sourced 5.2L V10 engine that puts out 525 horsepower and propels the car from 0-62 mph in 3.9 seconds with a top speed of 196 mph. The V10 engine is mated to either a a 6-speed manual or R-Tronic semi-automatic.

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