Lamborghini seized in police swoop

A LAMBORGHINI worth around £300,000 was among the vehicles seized by police during a crackdown on uninsured cars. The orange supercar was initially stopped by officers in Newham, east London as it had no front number plate, and further checks revealed the driver was not the registered owner. The Lamborghini Aventador - which does 0-62mph in 2.9 seconds and has a top speed of 217mph - was seized when police discovered the driver's insurance policy did not cover him to get behind the wheel of the luxury motor.

Jaguar Land Rover raise £500 million to fund expansion

Jaguar Land Rover raise £500 million Jaguar Land Rover is raising £500 million on the bond market to fund its expansion, including new models and new facilities. Hot on the heels of the Jaguar Land Rover joint venture deal with Chery in China comes the news that Jaguar has dipped in to the private bond market to raise £500 million to help with its bold and bullish plans to make JLR a major world player in the premium vehicle sector. JLR plans to invest £1.5 billion a year on expansion and is making sure its coffers can cope by issuing £500 million of senior notes due in 2020, with the net proceeds of the bonds being used for general corporate purposes.

Opel not for sale, GM exec says

General Motors Vice Chairman Steve Girsky says Opel is not for sale. "We're developing plans to make Opel work," he said at the Automotive News World Congress on Tuesday. Opel and PSA/Peugeot-Citroen were mentioned as possible targets of Fiat-Chrysler CEO Sergio Marchionne, who said on Monday he may seek to combine his company with another automaker to increase efficiencies and cut development costs.