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Aston Martin ditches Cygnet city car

CITY SLICKERS will no longer be able to cut a dash in a diminutive Aston Martin, following the company's decision to axe the controversial Cygnet from its range. The tiny Cygnet, which takes its name from a young swan, was an adaptation of the Toyota iQ, refitted with the finest luxury materials and priced at over £30,000. Its low CO2 output is rumoured to have been the main reason for the model’s presence in the range, since Aston Martin could in that way lower the company’s average CO2 output across the range in line with European emissions rules.

GM posts $6 billion loss, burns $10.2 billion in cash as sales fall

General Motors, facing a June 1 U.S. restructuring deadline to avoid bankruptcy, posted a $6 billion net loss in the first quarter and burned through $10.2 billion in cash as global auto sales plunged. GM had $11.6 in cash reserves on March 31, down from $14.2 billion at the end of the fourth quarter.

Petrol sales hit record low in July

FEARS of a 4p-a-litre rise in prices at the pumps sent petrol sales crashing to an all-time July low. The rise turned out to be only 1.5p a litre but it led to July petrol consumption dipping to 1.44 billion litres, down nearly 100 million litres on June, according to Government figures highlighted by the AA. The AA said petrol retailers and others had predicted that the UK's average cost of petrol would rise by up to 4p a litre in July.