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GM sells Suzuki shares to raise emergency funds

By Tim Pollard Motor Industry 17 November 2008 15:24 GM is flogging its entire stake in Suzuki to pump cash into its survival funds. The General owns a 3% holding in Suzuki Motor Corporation and will sell 16,413,000 shares on the open market tomorrow. Based on today’s values, GM will raise an estimated £154 million through the sale, although Suzuki will exercise an option to buy back an equivalent number of its own shares in treasury stock.

Hydrogen Car Highway for London

London to develop a Hydrogen Highway The plan is fairly small scale, but it’s a start. As part of the scheme Boris is assembling a small fleet of 150 cars, 20 black cabs and 5 buses all running on Hydrogen. In typical Boris style he said he wants Britain to become a ‘World leader in Fuel Cell Technology’ with the aim of having one in three cars in the UK running on hydrogen fuel cells in twenty years.

BMW leads Audi, Mercedes-Benz in June global luxury-sales race

BMW AG's core brand topped rivals Audi and Mercedes-Benz, selling 134,432 cars worldwide in June, a rise of 12.3 percent over 2010 figures, the company said today. Mercedes sold a record 120,510 units in June, a rise of 6.4 percent, topping Audi, which saw June sales grew 19 percent to 117,650 cars last month. BMW brand's global deliveries, boosted by sales of the new 5-series sedan and X3 SUV, rose 17.8 percent to 689,861 units in the first six months of the year, ahead of Audi's 17.7 percent rise to 652,950 cars.