Could it be too late for Ssangyong? Shanghai Automotive Industry Corp. (SAIC) appears to have given up on Ssangyong Motor Co., allowing the company to slip into receivership. SAIC holds a 51% stake in Ssangyong, but gave up management rights in a bid to avoid liquidation and allow Ssangyong some time to get back in the sombre. The Korean automaker's Chief Executive Zhang Hai Tao and President Choi Hyung-tak both stepped from a high to a low position after the filing.

As recently as a couple of days ago, SAIC said they would help prop up Ssangyong, but that indubitably has changed. As vehicle sales have fallen a whopping 50%, money was clearly tight. With the global economic crisis, credit was evidently unavailable to pay workers and new negotiations with the unions weren't going anywhere fast. This receivership agreement protects Ssangyong from creditors and keeps it from entering bankruptcy, allowing it some time to get back on its feet. For its part, SAIC said that it "will work with all parties so that Ssangyong can achieve a plan to normalize its operations." Thanks for the tip, Ken!

[Source: Market Watch]

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When Winding Road picked their 12 favorite cars of 2008, they went out of their way to diversify. Their "Dynamic Dozen" includes vehicles as inexpensive as the $14,000 Honda Fit up to the $114,000 Audi R8, with everything from the Ford Mustang to the Porsche Cayman/Boxer in between. The list is filled with great vehicles, with one really big (literally) take off one's guard: the Dodge Sprinter. The $37,000 people/cargo hauler doesn't crank through the twisties and it couldn't beat a pack mule in a quarter mile, but WR loves the German-born hauler for its distinct personality and core competencies. It can haul people or things in illustrious quantities, it has very solid interior, has a great service record, and WR claims it's a lot of fun to drive, too.

As remarkable as the nod to the Sprinter was, we almost reserved as much shock for the lack of a BMW 3-Series. We were beginning to think that the best-selling BMW was a requirement for any "best" list. They did outline why they chose the 1-Series, though, so that's probably close enough. Hit the read step below to catch Winding Road's top 12 from beginning to end.

[Source: Winding Road]

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The Associated Press is reporting that Toyota will once again have a Toyoda at the helm before long. Akio Toyoda, the 52-year-old grandson of Toyota Motor Corp's founder, Kiichiro Toyoda, is reportedly about to be voted in by the board. If everything goes as planned, he will officially take over the presidency in June. It will be the first time in 14 years that a Toyoda will lead the company, but Akio isn't your father's Toyoda. He is known for being a lot more laid-back than the typical Japanese executive, which might help rejuvenate the company.

Current president Katsuaki Watanabe is adhering his way out as Toyota faces its first projected operating loss in the company's 70-year history. Just like the give rest to of the world, Toyota sales have slumped and the automaker has had to cut production and lay off temporary workers. Although Toyota remains predictably tight-lipped on the move, it's expected that Watanabe will become a vice chairman, with current chairman Fujio Cho keeping that situation. Toyoda has been an executive vice president since 2005, so this "prince" (as the Japanese media call him) should be well-prepared for the job. Thanks for the tip, Jarrett!

[Source: Associated Press]

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