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European Car of the Year shortlist 2010

The shortlist of entries for the 2010 European Car of the Year award were announced today. No doubt bound to cause controversy with our readers, the cars which made it onto this year’s seven-strong shortlist are: • Citroën C3 Picasso• Mercedes-Benz E-class• Opel/Vauxhall Astra• Peugeot 3008• Skoda Yeti• Toyota iQ• Volkswagen Polo Chosen by automotive journalists from all over Europe, the competition will come to a close at the end of the year when an all-out winner is announced. Vauxhall took top honours in 2009's contest, with its Insignia stealing top spot from Ford’s new Fiesta by a single point.

VW win Dakar Rally in a Diesel Touarag

The Dakar rally is a cruel and hostile event, over 5000km of the toughest territory for any car rally. Never before won by a diesel engined vehicle, VW has achieved a first by not only winning the gruelling event in a diesel Touarag, but coming in second as well. This ends a seven year domination of the Dakar Rally by Mitsubishi.

Bondholders snub GM, bankruptcy filing likely

Nowhere near enough General Motors bondholders agreed to exchange their debt for stock before a midnight Tuesday deadline, making a bankruptcy filing by the automaker highly likely. GM had set a threshold of 90 percent of the $27 billion in bond debt it wanted to exchange for 10 percent of the stock in a reorganized company for the deal to take place. In a statement Wednesday, GM said the amount of notes tendered was substantially less than the 90 percent target.