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GM shifts gears, will keep Opel

General Motors' board of directors has decided that it will keep the Opel business and restructure it, putting an end to plans to sell the European operations to auto supplier Magna International. GM said it expects the restructuring of Opel to cost $4.42 billion (3 million euros), which it says is lower than the costs associated with outside bids for the company. GM said it will soon present its restructuring plans for Opel to the German government and other governments in Europe.

Fiat 500L gets a helping hand from P Diddy (video)

Sean ‘Diddy’ Combs gives Fiat a helping hand with the 500L Fiat has done well to convince a trendy section of American car buyers that the Fiat 500 is a funky, cute and desirable runaround – especially if you live in the city. But having effectively put all their eggs in the 500 basket, they have the problem of convincing sceptical US car buyers that the much bigger Fiat 500L is an appealing – and much more practical – proposition for families. So Fiat has enlisted Sean Combs (P Diddy, Puff Daddy, Diddy or whatever moniker he’s using this week) to give the Fiat 500L a bit of much needed profile.

Ferrari World Record at Silverstone Racing Days

Ferrari F1 driver Felipe Massa led a parade of 964 Ferraris to claim a new world record at Ferrari’s 2012 Racing Days at Silverstone. Ferrari Racing Days have been back at Silverstone this weekend, for the first time in 5 years, and to celebrate the occasion Ferrari has managed to claim a new world record for the number of Ferraris on track at any one time. When the last Ferrari Racing Days outing was at Silverstone, in 2007, Ferrari managed to garner 385 of Maranello’s finest to parade round Silverstone’s track for a new world record, but that record was broken later that year by Ferrari in Japan with 485 cars.