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Finance rates confirmed for fastest Seat ever

SEAT HAS announced finance deals that should see its fastest-ever car leave the showroom at furious pace. The entry-level Leon Cupra 265, so named for its count of horsepower, after a £1,000 deposit contribution from Seat, could be yours from £265 per month. Over 36 months, the 4.9% interest deal is fully flexible, and the monthly payments can be reduced with a larger deposit if buyers have something to add to the £1,000 leg-up.

GM product chief Bob Lutz to retire

GM boss Bob Lutz Retires By Ben Whitworth Motor Industry 09 February 2009 17:41 GM boss Bob Lutz will retire at the end of the year. The vice chairman of global product development – who has been at the centre of the automotive industry for the last 46 years – will be replaced by Tom Stephens, GM’s current veepee for global powertrain and global quality. Lutz, 76, will continue to report to GM boss Rick Wagoner throughout 2009 in his new role as GM vice chairman and senior advisor, before bowing out at the end of December.

Porsche chief Wendelin Wiedeking resigns

Porsche chairman Wendelin Wiedeking has bowed to mounting pressure in announcing that he will step down immediately. The resignation came Thursday, following a surprise meeting of the company's supervisory board at its Weissach R&D headquarters outside of Stuttgart, Germany, on Wednesday night. Wiedeking's announcement comes after months of tense and public infighting following Porsche's failed attempt to wrest control of Volkswagen, which left it with $12.7 billion in debt, and slowing sales in key markets such as North America.