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GM officially bankrupt
Mon, 01 Jun 2009GM finally enters Chapter 11 Bankruptcy The US Government is to provide £30 billion to fund the transition, with GM being split in to ‘Old GM’ and ‘New GM’. In exchange for the money the US Government will take a 60% stake in ‘New GM’ with all the toxic assets and liabilities being disposed of through ‘Old GM’. The restructuring will allow GM to survive on a third less sales than before (10 million instead of 15 million).
BMW X1 at the Paris motor show 2008
Thu, 02 Oct 2008By Ben Barry Motor Shows 02 October 2008 16:03 The new X1 and 7-series were the stars of BMW’s Paris stand, but there were plenty more treats for showgoers, including the subtly revised 3-series saloon and Touring – the Efficient Dynamics-fettled 3 now boasting the lowest carbon emissions in its class. The X1 is BMW’s smallest off-roader, sitting below X5 and X3 – and, let’s not forget, above the soon-to-be-production-ready Mini Crossover Concept. In the metal it doesn’t actually look much smaller than the X3, but it does look a hell of a lot lower.
Ferrari F70 (new Enzo) 2012 debut confirmed
Sun, 13 May 2012Ferrari F70 - the new Enzo - 2012 debut Ferrari boss Luca di Montezemolo has confirmed the arrival of the new hybrid Enzo – the Ferrari F70 – before the end of 2012. Back in February we were able to report on what we can almost certainly expect from the new Ferrari Enzo (which will probably go back to the F40/F50 model designation as the F70), perhaps most importantly that it will have a hybrid powertrain and be revealed this year. That has now been confirmed by Ferrari boss Luca di Montezemolo as he reported on Ferrari’s sales performance.