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Fire sale continues: Ford cuts stake in Mazda

By Tim Pollard Motor Industry 18 November 2008 16:09 Yesterday GM sold its stake in Suzuki; today Ford announced plans to slash its shareholding in Mazda. Previously the Blue Oval held a third of Mazda’s stock, but it has cut that to just 13%. Ford admitted the sale was purely to boost its balance sheet, as the Big Three continue to struggle with cashflow.

Lamborghini jammed between two cars after traffic light take off fail (video)

Lamborghini Gallardo traffic light fail A show-off driver of a Lamborghini Gallardo gets his comeuppance after losing control as he takes off from traffic lights. You won’t be surprised to learn that we have no problem with drivers of supercars; in our book, if you can afford it then enjoy it. But there is little on the road that’s more irritating than a flash prat in a car they clearly can’t handle, so we just couldn’t resist running this video taken in a quiet Chicago suburb.

GM grants Saab a reprieve, CEO Henderson resigns

By Tim Pollard Motor Industry 02 December 2009 15:51 The board of General Motors has granted Saab a lifeline – by extending the deadline for bids on its stricken Swedish patient to 31 December 2009. GM has been trying to sell Saab for the past year, and the Swedish car maker has been under court bankruptcy protection since February 2009.GM chief executive officer Fritz Henderson also announced he was to stand down. His interim successor is hard-nosed GM chairman Ed Whitacre – meaning that GM Europe and the US mothership have both lost their bosses in a matter of weeks.