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UPDATED: Aston Martin sold

By Phil McNamara Motor Industry 12 March 2007 09:38 Aston Martin is today under new owners, following the sale of Britain’s premier sports car company to an investment consortium. After 20 years of ownership, Ford divested itself of the brand, its facilities and its products, in a deal valuing Aston at £479m.   The new owner is a consortium led by David Richards, boss of automotive consultancy Prodrive, who helped to unite two private investment companies from Kuwait. Adeem Investment, which already owns the Grosvenor House Hotel in London, has a portfolio worth $1.5 bn.

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.

2010 Interior Motives Design Awards

The eighth annual Interior Motives Design Awards has opened for registration. Themed ‘Driving the Interior Revolution', this year's contest – hosted by our quarterly interior design publication Interior Motives – challenges design students around the world to come up with innovative designs that offer new solutions to the problems and opportunities facing vehicle designers in the 21st century. Students are tasked with creating a design that fulfills one of the following four briefs, which this year have been set by Volkswagen and Peugeot: Pay as you go (set by Volkswagen) Design a pay-as-you-go vehicle.