GM sells Suzuki shares to raise emergency funds

By 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.

Parking fines hit £30 per month

BRITISH motorists pay more than £30 million each month in parking fines, figures suggest. More tickets are being issued this year by councils than last year and there has been a 13% rise in fines issued on a Sunday, according to data obtained by LV=. The car insurer calculated councils have handed out more than 890,000 parking fines per month in 2013 - a 4% increase on 2012 figures - and, based on an average amount of £42 per ticket and excluding any successful appeals, drivers are now paying in excess of £30 million each month.

2013 Ford Mondeo production delayed

It’s reported that the 2013 Ford Mondeo – due to debut at the Paris Motor Show in September – will not go in to production until Q3 2013. The 2013 Ford Mondeo – which is pretty much the same car as the new Ford Fusion in the US – was expected to arrive at the Geneva Motor Show in March. That it didn’t was a bit odd, especially as it’s colonial cousin, the 2013 Ford Fusion, was revealed at the Detroit Auto Show in January.