Volkswagen Sells a Record Two Million Vehicles Since January

Global vehicle sales by the Volkswagen passenger car brand rose 12.2 percent to a record-high of 2.09 million units in the first five months of the year, compared to 1.86 million the same period in 2010.

More than a third of those vehicles were delivered in China, which has become the Volkswagen brand’s largest single market. In the period from January to the end of May, VW sold 714,200 cars in the country, recording a 15.3 percent increase.

Read more »

Saab Signs Three-Way Deal with China’s Pang Da and Zhejiang Youngman Lotus Automobile

Lately, it seems whenever there’s a problem with production at Saab’s Trollhattan plant, the Swedish automaker’s parent company Spyker Cars N.V. announces a new deal with a Chinese company.

Today, Spyker signed a non-binding memorandum of understanding (MOU) with two Chinese firms, Pang Da Automobile Trade Co., Ltd (Pang Da) and Zhejiang Youngman Lotus Automobile Co., Ltd. (Youngman), which if approved by regulators, could see the company falling into the control of Chinese hands. We'll remind you that Saab had previously signed a deal Chinese firm Hawtai but it failed to go through Chinese regulators.

Read more »