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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.

Land Rover Discovery Vision concept car (2014): first glimpse

Land Rover Land Rover has issued the first sneak peek at the new Land Rover Discovery Vision concept car, heralding the newly expanded Discovery range. Booming sales of SUVs have encouraged the British 4x4 specialist to grow its popular Discovery family into a whole range of off-roaders. The next Freelander due by early 2015 will be badged as part of the Discovery lineup, for instance.

2013 Porsche Panamera facelift caught on video

The facelift for the Porsche Panamera is due to arrive later in 2012 (or early 2013) and has been caught on video in Stuttgart. It’s three years since the Porsche Panamera was revealed at the 2009 Shanghai Motor Show and it’s time for Porsche’s big saloon car to get an overhaul. The 2013 Panamera, complete with cosmetic tweaks and oily updates, is something we expected to see at the Geneva Motor Show in 2013, but with what looks like almost complete cars popping up in Stuttgart perhaps the tweaked Panamera is going to bow in at Paris in September instead?