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GM shifts gears, will keep Opel

General Motors' board of directors has decided that it will keep the Opel business and restructure it, putting an end to plans to sell the European operations to auto supplier Magna International. GM said it expects the restructuring of Opel to cost $4.42 billion (3 million euros), which it says is lower than the costs associated with outside bids for the company. GM said it will soon present its restructuring plans for Opel to the German government and other governments in Europe.

PRE-WAR CARS MAY GET MOT TEST EXEMPTION

PRE-WAR vehicles may have their requirement for an annual MoT test removed, it has been suggested. A meeting between Transport Minister Mike Penning and members of the All Party Parliamentary Historic Vehicles Group, led by Lord Montagu of Beaulieu, has resolved to address the issue. The extremely low accident rate for such vehicles, the vast majority of which are kept in pristine condition by avid collectors, means there is little need for a MoT test, the group argued.

First Ferrari F12 in U.S. goes for $1.125 million

The first Ferrari F12 Berlinetta in the United States was sold on Saturday at the Formula 1 U.S. Grand Prix in Austin, Texas for $1.125 million. The auction benefited Hurricane Sandy victims.