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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.

Who's Where: Peter Schreyer appointed President of Kia Motors

Peter Schreyer has been been appointed President of Kia Motors after holding the position of Chief Design Officer since 2006. Schreyer is the first non-Korean to hold the position within the company and one of the highest-ranking designers in the history of the industry. Schreyer, who is now 59, moved from the VW Group to transform the historically 'dull-but-worthy' Kia product range into one of the strongest and most design-led in the industry through stand-out production cars such as the Picanto and Sportage as well as a diverse range of concepts from Pop to GT.

2012 Mercedes SL – the aluminium supercar

2012 Mercedes SL - it's got a lot of aluminium It’s perhaps a step too far to describe the 2012 Mercedes SL as an aluminium supercar, but there is no doubt the 2012 SL will be a super car, and that it gets made from aluminium instead of steel. And the 2012 SL 63 AMG will undoubtedly be in the supercar league. Just like Jaguar, Mercedes sees the liberal use of aluminium as a cost-effective way to make its cars both lighter and more rigid.