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Newsflash: Magna 'agrees to buy GM Europe': latest news

Latest news: what Magna's deal means for GM Europe By Tim Pollard Motor Industry 29 May 2009 19:31 Canadian parts giant Magna this afternoon struck an agreement in principle to buy stricken GM's European arm, Opel and Vauxhall. The agreement has not yet been confirmed publicly and is still in the early phase, but brings to an end an uncomfortable round of talks in the past 48 hours which saw a spat between American negotiators and European politicians, and Fiat CEO Sergio Marchionne walking away from the table.Once sealed, the deal must first be approved by the German government, which is to provide interim funding to the new owners. However, Italian car maker Fiat isn't yet totally ruled out of the running, as Magna's chief exec earlier today intimated that he could be interested in cooperation.CAR Online will update with the latest developments as they happen.

Audi celebrates 500,000th TT with special edition

Audi is celebrating its 500,000th TT sport compact with a new special edition, based on the upgraded Audi TTS. Only 500 examples of the TTS competition will be built, and will begin rolling off the assembly line in October. Unfortunately Audi will only sell the exclusive cars across the pond.

Hyundai joins the crossover set

By Tim Pollard First Official Pictures 19 February 2007 09:39 Yawn... not another crossover concept? Afraid so.