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Peugeot 508 gets engine and cosmetic upgrades for 2015

The new Peugeot 508 (pictured) debuts in August It’s four years since the Peugeot 508 first broke cover and pitched its tent as a French take on the Ford Mondeo. So now it’s time for some updates. The facelift for the 508 covers all three models in the 508 range – saloon, estate (SW) and the high-riding 508 RX – and mainly comprises of new bumpers front and back, new LED lights front and back, a re-profiled bonnet and a new grill with the Peugeot Lion front and centre.

Porsche to take majority stake in VW for £7bn

By Ben Whitworth Motor Industry 07 March 2008 11:26 Porsche is about to become the majority shareholder in Volkswagen. The sportscar maker has been given the green light to purchase further stock in VW, taking its share past the 50 percent mark to give it a controlling interest. As soon as various legal checks have been cleared, Porsche plans to purchase a further 20 percent of VW stock – it already owns 31 percent - at an estimated cost of around £7 billion.

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).