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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.

Lamborghini Gallardo LP550-2 Valentino Balboni (2009)

By Ben Pulman First Official Pictures 01 July 2009 10:00 Lamborghini has unveiled the limited edition Gallardo LP550-2 Valentino Balboni, a new entry-level model, and its first rear-wheel drive supercar since the Diablo. The Italian supercar company has long promised that all its cars will resolutely remain four-wheel drive, but it’s building the two-wheel drive LP550-2 (hence the name) to celebrate its legendary test driver Valentino Balboni. Just 250 will be built.

MotorExpo London 2009 – a quick look

Merceeds Benz E Class is just one of the exhibitors at London' MotorExpo 2009 So it looks like, with a few exceptions such as the Geneva Motor Show, we will have to make do with ‘Boutique’ style shows. But at least they’re usually free and you do get pretty good access to the cars. And this week sees MotorExpo open for business in London’s Canary Wharf, with a reasonably impressive range of manufacturers showing up to display their latest wares, and a smattering of UK debuts to boot.