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Mandelson to announce help for car makers
Tue, 27 Jan 2009Lord Mandelson is the man charged with finding ways to fund UK Car purchases (yes, he of the dodgy mortgage debacle – at least he should know a few tricks!) as the credit crunch has dried up funding, leading to an unprecedented drop in new car sales in the UK. Mandelson is due to make a statement in the Lords just after 3pm today, outlining the help the government is going to offer to ailing car makers. Central to this package is expected to be a funding channel directly from the Bank of England to inject liquidity in to the car financing sector.
Whitacre named General Motors' permanent CEO
Mon, 25 Jan 2010Ed Whitacre, General Motors Co.'s chairman, will become the automaker's permanent CEO, it was announced on Monday. In a brief press conference, Whitacre, 68, said GM plans to pay back government loans to the U.S. and Canada by June.
SEAT Leon Cupra & Ibiza FR Revealed
Sat, 18 Apr 2009The SEAT Leon Cupra (pictured above) launches at Barcelona in May, together with the Ibiza FR The Cupra is the top of the hot tree in the SEAT world, and so the new SEAT Leon Cupra will sit ahead of the Leon FR. With 240bhp and a 0-60 of around 6.4 seconds this is a quick car. The Cupra gets a set of 18″ alloy wheels, lower suspension, a different grill and door mirrors and a chromed tailpipe.