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GM sells Suzuki shares to raise emergency funds
Mon, 17 Nov 2008By Tim Pollard Motor Industry 17 November 2008 15:24 GM is flogging its entire stake in Suzuki to pump cash into its survival funds. The General owns a 3% holding in Suzuki Motor Corporation and will sell 16,413,000 shares on the open market tomorrow. Based on today’s values, GM will raise an estimated £154 million through the sale, although Suzuki will exercise an option to buy back an equivalent number of its own shares in treasury stock.
Volvo extends its range of DRIVe Eco cars
Tue, 24 Feb 2009It really is remarkable what car makers can do when pushed. After years of thirsty cars, more and more manufacturers are showing us what can be done when they make a real effort in this direction (and not always at the expense of performance), and the latest is Volvo, which has extended its range of DRIVe cars to seven. Volvo DRIVe range extended to seven models - will show at Geneva '09 The full DRIVe range will be revealed at Geneva ’09, and includes the C30, S40, V50, V70, S80, XC60 and XC70.
Currency chills U.S.-made Audi
Mon, 28 Jun 2010Audi has put on ice the option of manufacturing in the United States because of the euro's recent slide against the dollar. The decision against U.S. production means Audi, unlike sister division Volkswagen, isn't ready to design a car primarily for the United States.