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Newsflash: Magna 'agrees to buy GM Europe': latest news

Latest news: what Magna's deal means for GM Europe By Tim Pollard Motor Industry 29 May 2009 19:31 Canadian parts giant Magna this afternoon struck an agreement in principle to buy stricken GM's European arm, Opel and Vauxhall. The agreement has not yet been confirmed publicly and is still in the early phase, but brings to an end an uncomfortable round of talks in the past 48 hours which saw a spat between American negotiators and European politicians, and Fiat CEO Sergio Marchionne walking away from the table.Once sealed, the deal must first be approved by the German government, which is to provide interim funding to the new owners. However, Italian car maker Fiat isn't yet totally ruled out of the running, as Magna's chief exec earlier today intimated that he could be interested in cooperation.CAR Online will update with the latest developments as they happen.

Peugeot 5008 revealed

The new Peugeot 5008 MPV / People Carrier - to debut at Frankfurt Peugeot has released details of their new MPV – the Peugeout 5008 – ahead of the official unveil at the Frankfurt Motor Show in September. And yes, it does have a look of the TVG on the snout, and promises to be able to carry almost as much luggage as the nippy French train. A massive 2500 litres of space with all the back seats down, and a still capacious 823 litres in 5 seat mode.

New De Tomaso Pantera at Frankfurt

What is thought to be the new Pantera leaving the De Tomaso facility So far all we’ve officially had from the new De Tomaso, now run by ex Fiat man Gian Mario Rossignolo, is the not particularly well-received De Tomaso Deauville at Geneva in the Spring. It seemed an odd route for the revived De Tomaso to go, and an odd choice of name. The Deauville seems to be halfway between the (poor-selling) BMW 5-Series GT and a Porsche Cayenne.