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Fiat, Magna, investment firm are three finalists to buy Opel

Italian automaker Fiat, Canadian parts maker Magna International and Belgian investment firm RHJ International look to be the final three bidders for General Motors' Opel subsidiary. Fiat has confirmed that it put in a bid for Opel. Final bids for Opel were due Wednesday evening.

New car sales in UK still growing – up 14.8% April 2013. Driven by PPI Claims?

It is quite hard to fathom just how UK new car sales (well, registrations) continue to rise inexorably against a backdrop of otherwise stagnant economic activity, but they do. April 2013 has seen a total of 163,357 new car registrations, up a huge 14.8 per cent on April 2012 and the best figure since 2008, and these sales figures are not being driven by fleet buyers but by private motorists – private sector registrations grew by 32.3 per cent in April and are up by 15.2 per cent year to date. Not surprisingly, it’s the Superminis that are performing strongly – although all sectors are showing a rise – and it’s the Ford Fiesta that continues to be the best seller in the UK with sales of over 8,000 in April and over 42,000 so far in 2013, and the rise of superminis has also seen an increase in sales of petrol-engined cars thanks to the wave of small capacity, frugal petrol options.

BMW & Toyota agree joint development of new sports car

BMW and Toyota have signed a binding agreement to co-develop a new sports car and continue with co-developed and shared technology. The way forward for car makers seems to be either to be as big as possible for the benefits of economy of scale, or to work together on joint products to cut development costs. Which is why BMW and Toyota are getting cosy.