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GM sells Suzuki shares to raise emergency funds

By Tim Pollard Motor Industry 17 November 2008 15:24 GM is flogging its entire stake in Suzuki to pump cash into its survival funds. The General owns a 3% holding in Suzuki Motor Corporation and will sell 16,413,000 shares on the open market tomorrow. Based on today’s values, GM will raise an estimated £154 million through the sale, although Suzuki will exercise an option to buy back an equivalent number of its own shares in treasury stock.

MG name stands proud again at Longbridge

The company that runs the remnants of former UK automaker MG Rover has dropped a reference to its Chinese parent from its name. NAC MG UK has changed its name to MG Motor UK to emphasize the MG name, a company spokesman said. Nanjing Automobile Company or NAC bought MG Rover's assets in July 2005, three months after the UK's last domestically owned volume carmaker collapsed through financial difficulties.

Drivers 'concerned at lack of goodwill'

MOTORISTS have been left concerned at the lack of goodwill among other drivers during this festive period, according to research from Halfords Autocentres. The levels of ‘aggressive, impatient and inconsiderate’ driving increase at this time of year, according to the survey of an unspecified number of car owners. Nearly a quarter (23%) of respondents said that things like lane hogging, failing to indicate properly - or at all - and not letting other motorists out at junctions was a real problem at this time of year.