21yo Saudi Arabian Millionaire Takes Delivery of 33rd Supercar

Actress Bo Derek once quipped, "Whoever said money can't buy happiness simply didn't know where to go shopping." Someone who would most likely agree with her is 21-year-old Dhiaa Al-Essa, a Saudi Arabian Engineering student and millionaire playboy with a collection of over 30 exotic supercars worth more than £4.5 million (US$7.3 million).

Al-Essa has recently taken delivery of his thirty-third exotic, the first Ferrari 599 GTO worth £345,000 (US$557,000). In his own words:

"I've been so excited about the Ferrari 599 GTO – I have had to wait six months for it to arrive. It's a limited edition car with more technology that pretty much any other car in the world – and it's the fastest ever Ferrari. My favourite car used to be the Mercedes McLaren SLR but now it's the 599. It's the best ever, simply amazing – I love it."

His collection includes a £350,000 (US$565,000) Ferrari SA Aperta and a £255,000 (US$411,700) Ferrari F430 Scuderia Spider 16M; both the last of the line. Al-Essa also owns several other Ferraris as well five Porsches, three Lamborghinis, two Rolls-Royces and a Mercedes-Benz SLR McLaren.

This latest acquisition is a stop-gap measure until he receives his 22nd birthday present: a Koenigsegg Agera and a Bugatti Veyron, both worth £1.6 million (US$2.6 million) a piece. Al-Essa concludes:

"I love speed, but the limit in Saudi Arabia is 75 mph (121 km/h) so I'm pretty limited. When the Bugatti arrives I hope to take it to Germany where you can drive as fast as you can on parts of the autobahn."

By Tristan Hankins

Source: Swsn & Metro / Photos: Ferrari

VIDEO: Fiat 500 Races Koenigsegg CCX in Swedish Webhost Ad

Here's a car race with a difference: an automotive remake of the classic Tortoise and the Hare story, starring a Fiat 500 as the tortoise and a Koenigsegg CCX as the hare. Well, not a real 500 and CCX; these are 1:24 scale models, and the whole thing is filmed in stop motion. It was made by Swedish filmmaker and photographer Robin Danehav as an advertisement for Binero, a Swedish webhosting service.

That's why this video is called 'Binero vs. Loopia', with Loopia being Binero's major competitor in what is no doubt a hotly contested segment of the market (well, I guess there are over 9 million potential customers in Sweden).

I think the moral here is...if you want fast webhosting, go for Loopia, but if you want webhosting that really cares and likes Apple products...try Binero? Eh, there must be something lost in translation, I think. Anyways, it's a cute video all the same and very well made.

Check it out and let us know what you think.

By Tristan Hankins

Hat tip to Conrad!

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Video Shootout: Corvette ZR1 vs Koenigsegg CCR, BMW X5M vs Range Rover Sport, Audi R8 vs Porsche 911 and More

Since we're suckers for speed, we jumped at the opportunity to show you these awesome videos from a sports car shootout, courtesy of the folks over at M5Board. If you haven't done so already, follow the jump to watch some mega power throwdowns including Switzer's Nissan GT-R P800 versus the Koenigsegg CCR Evo and BMW's M5 Touring going against its X5M SUV stable-mate.

Via: M5board - Thanks for the nod Gustav!

Geneva: The Action-Packed, Ageless Agera by Koenigsegg

Koenigsegg's Agera is a car of action. No, literally, "agera" is Swedish for "to act". It's name is also derived from the Greek "Ageratos", meaning "ageless". Being a Koenigsegg, the Agera puts out an insane amount of power (910 horses thanks to two turbos), oodles of torque (1,100 Nm / 811 lb-ft ), wears 6-egg-omelet-sized brakes (392mm discs in front and 380mm in back).

It even runs on regular, or so they say, and offers the most luggage space in its segment. Deliciously practical.

Koenigsegg claims the traction control system "is the fastest reacting in the industry", something I'd be more than happy to test if they ever wanted to send one down South Carolina way.

According to the Swedish manufacturer, the Agera's interior features an industry-first lighting system. Called Ghost Light, "[the] illumination shines through the billet aluminium buttons and surfaces by way of invisible nanotubes, creating excellent visibility of the symbols, as well as a very clean and stylish appearance, framed by an all-new carbon fibre centre console and tunnel assembly." Sounds expensive.

Lastly, the diver's gauge pod can be configured to suit a variety of needs, providing basic gauges, a lap timer, G-force-o-meter, power level indicator, compass/sat-nav, and audio info.

With the CC-series cars already kicking ass and taking names all over the world, one might ask what the purpose of the Agera is. Koenigsegg is saying it's meant to broaden their range; somehow I don't see it as comparable to owning a Ford Mustang and having a Taurus as a family car. Interesting, but I really can't wait for this real range expansion Christian von Koenigsegg has been hinting at.

-By Phil Alex

REPORT: The End of the Road for SAAB?

In a similar scenario to the Saturn - Penske story which ended with GM's decision to wind down the brand, tiny super car maker Koenigsegg, backed by China's BAIC, pulled out of a deal to acquire GM's Swedish Saab unit only a week away before a November 30 deadline. And even though the Swedish government has some hopes that a new buyer might be found to save Saab, the future of the brand looks very dim.

"For every day that passes the challenge gets bigger and bigger," Swedish Enterprise Minister Maud Olofsson told reporters.

An insider told Bloomberg that General Motors' board will decide the future of Saab at its monthly meeting on December 1st. The person added that the automaker doesn't expect any other bidders to emerge and that a shutdown is imminent.

"They should just get rid of it," told the news site Tom Stallkamp, industrial partner at buyout firm Ripplewood Holdings LLC, which took part in an unsuccessful bid for GM's Opel division. "Saab really doesn't matter in terms of technology, and there is no synergy like there was with Opel."

Easy to say when you don't take into consideration the fact that behind the nameplate there are people with families as Saab employs around 3,500 workers in Trollhattan while thousands of other jobs are also linked to the firm. If you take a moment to think about that, it actually does matter...

Unfortunately though, the harsh reality is that if GM were to restart the sales process of Saab, it would be extremely difficult to find a willing buyer to complete the deal in a short time frame. If it were to take longer, the Detroit automaker would have to continue to fund Saab and that, doesn't seem to be a viable option for GM today.

Many like Stephen Pope, chief global strategist for Cantor Fitzgerald in London, seem to agree that Saab's days are numbered. "That's it, goodnight, goodbye," Pope told Bloomberg. "Saab has reached the end of the road, there's nothing left in the tank."

There have been reports that China's BAIC as well as Geely, might be interested in Saab. However, Geely is already in talks with Ford for its Volvo unit so we seriously doubt that they will turn their focus on Saab at this moment while in what concerns BAIC, analysts believe that the if the Chinese firm decides to show an interest, it will most likely be for Saab's assets and not the company as a whole.

Sources: Bloomberg & ANE

BREAKING NEWS: Koenigsegg Terminates Agreement to Buy SAAB from General Motors

General Motors has just announced that the proposed sale of its Saab unit to a consortium led by Swedish sports car maker Koenigsegg has been canceled. And this time, it's not because the Detroit automaker wanted to keep Saab as was the case with Opel, but because Koenigsegg backed out of the purchasing of the Swedish brand in the same way that Penske did with Saturn.

"We're obviously very disappointed with the decision to pull out of the Saab purchase," said GM President and CEO, Fritz Henderson.

"Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB. Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week," Henderson added.

In September, Koenigsegg Group AB had signed a Memorandum of Understanding (MOU) with Beijing Automotive Industry Holdings Co. Ltd. (BAIC) to explore growth opportunities in the Chinese and international markets for the products of both SAAB and BAIC.

The Swedish sports car maker has yet to release an official statement on the matter.