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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).

TVR Griffith gathering set for June 24-26 at Mid-Ohio

If our story last month on the TVR Griffith whet your appetite for these rare Brits, set your nav system for the Mid-Ohio Sports Car Course in Lexington, Ohio, and be there June 24-26. The Griffith Motorcar Club International will be hosting Richard “Dick” Monnich, the first TVR importer in the United States and the catalyst for the Ford 289-powered TVR Griffith, as part of the fifth-annual Gathering of Griffiths & TVRs. Event organizer and former Griffith factory test driver Mike Mooney claims all three Griffith body styles will be present, along with a British-produced TVR 500.

First Sight: Peugeot 907 concept

Making its debut at the Paris Motor Show, the Peugeot 907 concept is a two-seater GT coupe, created "with reference to the past, the present and the future", and intended to transcend the Marque's values. The 907 is powered by a 6.0 litre V12 engine delivering 368 kW (500 bhp), positioned longitudinally behind the front axle. Connected by a short propshaft, it transmits its power to a six-speed sequentially controlled gearbox placed longitudinally in front of the rear axle.