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Delaware, Ohio, United States
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Fire sale continues: Ford cuts stake in Mazda
Tue, 18 Nov 2008By Tim Pollard Motor Industry 18 November 2008 16:09 Yesterday GM sold its stake in Suzuki; today Ford announced plans to slash its shareholding in Mazda. Previously the Blue Oval held a third of Mazda’s stock, but it has cut that to just 13%. Ford admitted the sale was purely to boost its balance sheet, as the Big Three continue to struggle with cashflow.
Citroen Survolt Art Car (2010) first pictures
Tue, 12 Oct 2010Citroën has unveiled a new 'Art Car' version of its Survolt electric sports car concept. Designed by Francoise Nielly, the Survolt is a riot of colours, with pink, yellow and green spolodges dominating its nose. Where's Brian Sewell when you need him?
Mandelson to announce help for car makers
Tue, 27 Jan 2009Lord Mandelson is the man charged with finding ways to fund UK Car purchases (yes, he of the dodgy mortgage debacle – at least he should know a few tricks!) as the credit crunch has dried up funding, leading to an unprecedented drop in new car sales in the UK. Mandelson is due to make a statement in the Lords just after 3pm today, outlining the help the government is going to offer to ailing car makers. Central to this package is expected to be a funding channel directly from the Bank of England to inject liquidity in to the car financing sector.