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GM Europe weeks from running out of cash

By Phil McNamara Motor Industry 03 March 2009 19:03 GM Europe will run out of cash ‘early in the second quarter’ of 2009, unless the divison secures $3.3bn in funding from European governments. Speaking today (Tuesday 3 March), GM chief operating officer Fritz Henderson revealed that insolvency loomed, due to the plunge in European car sales and GM’s liquidity crisis in North America. He ruled out a swift cash injection from private investors, saying that no talks had taken place and that lengthy negotiations and due diligence would take too long.

Honda bumps up new Accord prices by $300

Honda Motor Co. said Monday that prices on the redesigned 2013 Accord sedan will increase, on average, by less than $300, even with the addition of thousands of dollars worth of standard features and technology. Honda has overhauled its top-selling model for 2013 with new, more fuel-efficient engines, a continuously variable transmission, additional standard equipment and other available technology, such as lane departure warning and blind spot detection.

Bentley appoints new CEO, poached from Porsche

Bentley has announced the appointment of Wolfgang Dürheimer as its new chairman and chief executive officer. He will also head up Bugatti, as did predecessor, Franz-Josef Paefgen. Dürheimer, who joins Bentley from Porsche where he headed the research and development team, will start his new role at Crewe on 1 February 2011.