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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.

Digital repreive for drivers as FM switch-off postponed

MILLIONS OF CAR OWNERS have been saved from missing out on listening to the radio in their cars as the Government has delayed switching off FM transmitters in favour of digital radio. The move comes as the Government admits that more needs to be done to convince radio users to switch to DAB digital radio instead of sticking with FM. Ed Vaizey, the communications minister, said: ‘We have to support digital radio, but we also respect people’s passion for radio and not being made to do something they don’t want to.’ At present, digital radio accounts for about a third (36.5%) of all radio listening, but take up has been lower among car drivers who are used to FM.

Toyota reveals new Le Mans car as Peugeot quits

Peugeot has announced that it’s closing its Le Mans and endurance racing programme with immediate effect. The unexpected announcement is a blow to the world-famous French endurance race, as the diesel-powered 908 HDi LMP1s have been the only cars able to challenge Audi’s dominance over the past few years – Peugeot won the Le Mans 24hrs in 2009. On the same day that Peugeot Sport announced the closure of its endurance racing programme, Toyota revealed its new 2012 Le Mans racer.