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GM Europe weeks from running out of cash
Tue, 03 Mar 2009By Phil McNamara Motor Industry 03 March 2009 19:03 GM Europe will run out of cash ‘early in the second quarter’ of 2009, unless the divison secures $3.3bn in funding from European governments. Speaking today (Tuesday 3 March), GM chief operating officer Fritz Henderson revealed that insolvency loomed, due to the plunge in European car sales and GM’s liquidity crisis in North America. He ruled out a swift cash injection from private investors, saying that no talks had taken place and that lengthy negotiations and due diligence would take too long.
Lexus NX (2014) first official pictures
Fri, 11 Apr 2014By Damion Smy First Official Pictures 11 April 2014 09:04 This is the production version of the Lexus NX compact crossover, which will sit below the Lexus RX in the Japanese brand’s line-up as it chases the BMW X3. Based on the Toyota RAV4, the NX features the Lexus spindle-grille up front but has lost the jagged styling that repulsed many when the concept car was shown at the 2013 Frankfurt show. The showroom edition has been toned down significantly, but still keeps the same stance and two-piece LED headlamps that ape the IS saloon’s face.
2010 Audi Q7 to bow at Shanghai motor show
Tue, 14 Apr 2009The redone Audi Q7 will bow at the Shanghai motor show this month, with slight interior and exterior freshenings. It launches this fall as a 2010 model. The Q7 gets a new lighting design, LED running lights and chrome touches on the bumpers, door panels and handles, as well as new wheel designs.