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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.

LA Auto Show Design Challenge entries unveiled

The 2013 Los Angeles Auto Show Design Challenge entries have been revealed a few days before the show is set to open. As in previous years, several of the major players in the automotive design world are participating and automakers and design studios such as BMW DesignworksUSA, Subaru, Mazda, and China's SAIC and Changfeng will be exhibiting concept art. The theme of this year's design challenge is called "Biomimicry & Mobility 2025: Nature's Answer to Human Challenges.” With nature coming to be seen as one of the best R&D labs for design, and with biological knowledge doubling every five years, design studios were challenged to design vehicles that use biomimicry to increase the efficiency of mobility itself.

GM recalls Vettes to replace roof panel

Plenty of Chevrolet Corvette owners like to think they can blow the doors of most everything else on the road. But General Motors is now recalling Vettes from the 2005 through 2007 model years because the roof panel might blow off. The recall covers Corvette coupes with the removable roof panel.