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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.

Koenigsegg One:1 – first photo ahead of Geneva Motor Show debut

The Koenigsegg One:1 (pictured) gets an enormous rear wing The Koenigsegg One:1 – Koenigsegg’s most powerful car ever – is heading for the Geneva Motor Show next month, ahead of which Keonigsegg has revealed the first photo of their new car (above). We reported just last week that the One:1 would make its debut at Geneva so, with a month to go before the Geneva Motor Show kicks off, Koenigsegg has decided it’s time to show some of what the One:1 is all about. Based on the Agera, the most dramatic difference between the two is the enormous rear wing on the back, so big it needs support from bars running in to the roof.

Public service announcement: Cars and shaving don't mix

Consider this a cautionary tale: Take care of your personal grooming before you get behind the wheel. A Florida woman caused a two-vehicle wreck because she was shaving her bikini line rather than watching the road when she plowed into the back of a pickup truck at 45 mph. As if texting while driving wasn't perilous enough.