2004 Nissan Maxima Steering Column 1166433 on 2040-parts.com

GM officially bankrupt

GM finally enters Chapter 11 Bankruptcy The US Government is to provide £30 billion to fund the transition, with GM being split in to ‘Old GM’ and ‘New GM’. In exchange for the money the US Government will take a 60% stake in ‘New GM’ with all the toxic assets and liabilities being disposed of through ‘Old GM’. The restructuring will allow GM to survive on a third less sales than before (10 million instead of 15 million).

Porsche Macan will sell 75,000 a year

The Porsche Macan – Porsche’s more compact SUV, based on the Audi Q5 – looks set to sell at a rate of 75,000 cars a year. The new Porsche Macan - the Porsche Cajun as was -  already looked set to take Porsche sales to another level with projected sales of 45,000 a year from 2013, but it looks like that ambitious target is going to be exceeded. German weekly WirtschaftsWoche is reporting that Porsche’s procurement boss, Uwe-Karsten Staedter, has put Porsche suppliers on notice that they are expecting to sell 75,000 Macans a year by the end of 2013 – an increase of 2/3rds on the original sales predictions.

Jaguar XJR returns – 542bhp XJ to debut at New York Auto Show

A new generation Jaguar XJR is being launched at the New York Auto Show later this month, signalling the return of the range-topping XJ with 542bhp. We’ve been heralding the arrival of an all new Jaguar XJR for four years and now, finally  Jaguar is about to deliver with a new XJR sporting Jaguar’s 542bhp version of the supercharged V8 under the bonnet. Jaguar are being a bit precious with the full details of the new XJR, but they’re calling the new XJR the ‘Dynamic Flagship‘ of the Jaguar range – which is promising when you consider how fluid and able the XJ already is.