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GM Europe weeks from running out of cash

By 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.

New Porsche 911 Turbo (2010) Revealed

Porsche has released details of the 2010 MY Porsche 911 Turbo But times move on, and other car makers are starting to produce cars that can be used every day and have comparable performance. One startling entry is the Nissan GT-R, but even models from Lamborghini, Ferrari and even Audi are getting close on performance and usability. So it’s time for a tweak or two on the Porsche 911 Turbo to keep it at the top of the heap.

Ferrari 458 Speciale with active aero debuts at Frankfurt

The only thing better than a 458 is, of course, a lighter, stronger and more aerodynamically efficient 458. Toward that end, Ferrari unveiled the 458 Speciale at Frankfurt, a successor of sorts to the Challenge Stradale and 430 Scuderia, previous specials that, as good as they were, wouldn't last a race on the same lap as this one. “This is the most powerful V8 Ferrari, never made before,” said Ferrari chairman Luca di Montezemolo, who still speaks much better English than we could ever hope to speak Italian.