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GM officially bankrupt

GM finally enters Chapter 11 Bankruptcy The US Government is to provide £30 billion to fund the transition, with GM being split in to ‘Old GM’ and ‘New GM’. In exchange for the money the US Government will take a 60% stake in ‘New GM’ with all the toxic assets and liabilities being disposed of through ‘Old GM’. The restructuring will allow GM to survive on a third less sales than before (10 million instead of 15 million).

TVR goes off the rails

By Tim Pollard Motor Industry 02 January 2007 03:25 British sportscar manufacturer TVR is fighting for survival after crashing into administration over Christmas. Blackpool Automotive Ltd, TVR's manufacturing arm, has stopped building cars at the Blackpool HQ, its home since 1947. Around 250 members of staff stayed at home this week, waiting to discover their fate.

Volvo facelifts C70: first photos of 2010 CC

By Tim Pollard First Official Pictures 01 September 2009 09:00 Volvo is tweaking its sportiest car, the C70. Fresh for the 2010 model year, the Swedes will facelift the C70 with Volvo's new corporate nose job, a range of exterior changes and numerous detailed spec changes.Did you know the C70 was the world's first four-seater CC with a folding hard top? We'd rather forgotten.