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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.

2013 Maserati Quattroporte night testing (video)

Maserati has released a video of the 2013 Quattroporte out night testing ahead of a Detroit Auto Show public debut. The new Quattroporte is bigger and more powerful than the current model and leaves Maserati room to introduce a smaller version – the new Maserati Ghibli – to take on the sports saloons from BMW, Mercedes and Jaguar. To be honest, the video tells us little we don’t already know about the new Quattroporte (except perhaps that it has frameless glass in the side windows), but it does indicate how keen Maserati are to keep the new Quattroporte’s PR momentum on the move ahead of its debut.

Car insurance small print longer than Animal Farm

Aslan Alphan | Getty Images The small print on car insurance policies from a number of leading firms is longer than George Orwell’s novel Animal Farm, according to a consumer website. Fairer Finance waded through the small print of “every” car insurance policy, and found that the policy documents produced by Endsleigh, Sheila’s Wheels, Esure and M&S Bank run to more than 30,000 words. Less than a third read car insurance terms and conditions The highest word count found by researchers came from Endsleigh, with a grand total of 37,674 words in the small print.