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MG Rover – Serious Fraud Office (SFO) to investigate

The Rover 75 Coupe - one of MG Rover's last big ideas before its collapse in 2005 MG Rover was bought from BMW for the princely sum of £10 after BMW had had enough of trying to make a viable company out of a business that was still undermined by the woes – and attitudes – of the British Leyland years. That £10 purchase price also came with £425 million in loans from BMW, so MG Rover had a chance. But the collapse, and the subsequent sale of the rights to the MG trademark to SAIC (Shanghai Automotive Industry Corporation), brought accusations that the ‘Phoenix Four’ – Directors and owners of MG Rover – has acted fraudulently when it was revealed they had acquired more than £40 million in pension rights, salary and assets in the intervening five years between purchase from BMW and collapse.

GM to slash global vehicle platforms by more than half, to 14, by 2018

General Motors says it will cut the number of vehicle platforms it uses globally by more than half over the next decade, in a bid to reduce complexity and save on product-development costs. “More of our components will be common, and more of our vehicles will be on global architectures,” GM CEO Dan Akerson told analysts on Tuesday. His remarks came as GM kicked off a series of presentations online, billed as its 2011 Global Business Conference.

Ford posts rare increase as industry gains from clunkers

Ford Motor Co. posted its first U.S. sales increase in 19 months in July and most rivals pared their declines as the federal cash-for-clunkers incentive helped lift industry demand to its highest rate this year.