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GM Europe weeks from running out of cash
Tue, 03 Mar 2009By 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.
Porsche 911 Carrera Cabriolet (2012) first pics
Tue, 22 Nov 2011These are the first official shots of the Porsche 911 Carrera Cabriolet, which goes on sale in March 2012. The convertible top still looks as if it was made of soft fabric, but it actually consists of three semi-rigid lightweight panels coated with a novel furry material, which conceals the cutlines. A fabric top layer finishes things off, and is claimed to be very soundproof, while the rear glass screen is heated and scratchproof. So the new Porsche 911 Cabriolet is a bit of a porker?
Chevy Volt production stopped as sales falter
Sat, 03 Mar 2012Chevy Volt production halted General Motors has announced that they’re halting production of the range-extender Chevrolet Volt as sales falter. The Chevy Volt is General Motors’ car of the future (and sister car to the Vauxhall Ampera) with a range extender engine and the ability to run on a plug-in charge. And GM proclaimed it as the future of the company and did everything they could to keep costs in check.