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Bondholders snub GM, bankruptcy filing likely

Nowhere near enough General Motors bondholders agreed to exchange their debt for stock before a midnight Tuesday deadline, making a bankruptcy filing by the automaker highly likely. GM had set a threshold of 90 percent of the $27 billion in bond debt it wanted to exchange for 10 percent of the stock in a reorganized company for the deal to take place. In a statement Wednesday, GM said the amount of notes tendered was substantially less than the 90 percent target.

Tesla Model S outselling Chevrolet Volt & Nissan LEAF

Tesla never managed to make any money out of their electric Lotus – the Tesla Roadster – but it does look like they’re on to a winner with their electric  executive saloon, the Tesla Model S. Despite moans that the headline-grabbing sub-$50k Model S was never a reality – and a starting point of $70k – the Model S looks set to outsell the two most successful ‘alternatively fuelled’ cars – the electric Nissan LEAF and the range extender Chevrolet Volt – in the first quarter of 2013. Sales of the electric Nissan LEAF, which costs from $29k in the US, in the first quarter of 2013 were 3,965 units and the Chevrolet Volt, which costs from $40k, sold 4,421 units.

VW Amarok pick-up (2010) first official pictures

VW has unveiled its first UK-bound pick-up for a generation, the new Amarok. It's coming here in September 2010 in the double-cab bodystyle pictured; a single-cab variant will follow in 2011. The new VW Amarok has workmanlike figures, with a 1.15-tonne payload, a 2.52 sq m cargo bed and a 2.8-tonne towing capacity.