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GM cancels Opel Vauxhall sale to Magna

By Tim Pollard Motor Industry 03 November 2009 22:59 General Motors tonight surprised the world by pulling its proposed sale of its European division – Opel and Vauxhall – to Magna. In a dramatic U-turn, Detroit said 'an improving business environment for GM over the past few months' had made it reappraise its spin-off plans.The 11th hour switch means that GM will still retain full ownership of Opel and Vauxhall, which will now 'be restructured in earnest'. Canadian parts giant Magna had won the race to buy a controlling stake in GM Europe, as a newly relaunched Detroit sought to shore up its finances.

Chrysler, Nissan postpone plans to share two vehicles

Chrysler LLC and Nissan Motor Co. have postponed plans to share a North American-built small car and a full-sized pickup until they can reduce costs. A third vehicle-sharing project, in which Chrysler will sell a version of Nissan's compact Versa sedan, will continue on schedule, the companies said late Thursday.

BMW i3 grabs new award

THE REVOLUTIONARY BMW i3 electric car has been awarded the top prize in the first UK Car of the Year Awards. After grabbing the prize for Best Supermini the i3 won the overall title in the new awards, as voted for by a group of 27 respected UK-based motoring journalists. In the overall vote, which featured the likes of the Porsche Cayman, Range Rover Sport, BMW 5 Series, Citroen C4 Grand Picasso and Audi A3, almost half of the 27-strong judging panel chose the i3.