Volkswagen launches new Golf GTI

Volkswagen has launched the new VW Golf GTI in the UK It was the car that started the Hot-Hatch fashion 36 years ago, and today VW announced that they are open for orders on the latest (sixth generation) Volkswagen Golf GTI. VW showed a ‘Concept’ of the Mk VI Golf GTI at last year’s Paris Motor Show but, as we expected, it wasn’t even thinly disguised – it’s pretty much as shown! Just like its siblings, the new GTI is really an evolutionary car rather than a revolutionary one.

Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

UK car sales grow for first time in 15 months

By Tim Smith Motor Industry 06 August 2009 12:30 UK new car sales have nudged upwards by 2.4% in July 2009 – the first increase for 15 months. The Society of Motor Manufacturers and Traders, which collates registration figures, claimed that the scrappage scheme was responsible for the jump. Paul Everitt, SMMT chief executive, said: ‘The impact of the scrappage scheme is clear and we are encouraged by the positive impact it has had, increasing new car registrations since April 2008.