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GM Europe weeks from running out of cash

By Phil McNamara Motor Industry 03 March 2009 19:03 GM Europe will run out of cash ‘early in the second quarter’ of 2009, unless the divison secures $3.3bn in funding from European governments. Speaking today (Tuesday 3 March), GM chief operating officer Fritz Henderson revealed that insolvency loomed, due to the plunge in European car sales and GM’s liquidity crisis in North America. He ruled out a swift cash injection from private investors, saying that no talks had taken place and that lengthy negotiations and due diligence would take too long.

Vygor Opera .2 – just as ugly as the first Vygor & €140k

Vygor Opera .2 - a second take on the new crossover from Italy Last month we reported on the Vygor Opera, a new ‘car’ from Italy which we thought looked like a cross between a 5-Series GT, Subaru and an X6, but after a dose of ugly pills. So when we got an email in to say there’s a second version of the Opera – catchily named the Vygor Opera.2 – we thought Vygor must have bucked up their ideas from the first Opera and employed someone with a proper Italian flair for design. No such luck.

Hyundai drops out of shrinking Tokyo auto show

The incredibly shrinking Tokyo auto show just got even smaller. Hyundai Motor Co., the last major foreign automaker which was scheduled to participate in next month's show, has decided to pull out with just weeks to go, organizers say. “Hyundai called last week and orally confirmed their intent to cancel,” said Toyokazu Ishida, who administers the international exhibition for the Japan Automobile Manufacturers Association.