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GM Europe weeks from running out of cash

By 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.

Ford spoofs Cadillac ELR with latest ad

Rule Number One of advertising is, "kick 'em when they're down." Or was that Sun Tzu...or Bone Thugs-N-Harmony? Either way, while Cadillac catches flak for its controversial ELR ad, the above Ford ad with a C-Max Energi is either a shameless ripoff or a smashing riposte. (This, of course, depends on your affinity for European-derived plug-in crossovers.) Instead of a white guy, it's a black lady.

Saab gets more cash from China partner

Saab has received another cash boost from its new China partner Pang Da with an additional order for 630 cars, worth 15 million euros or $21.7 million at current exchange rates. The order comes on top of an order for 1,300 cars worth $43.3 million (30 million euros) received by Saab from Pang Da in May. The Chinese company will pay in advance for the order and delivery of the vehicles will start in the third quarter, Saab said.