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General Motors fires back at Volkswagen

General Motors issued a terse response this week to published comments by Volkswagen CEO Martin Winterkorn, who suggested to the German press that Opel could be sold to a Chinese competitor. Detroit-based GM called Winterkorn's comments “regrettable” and accused him of “fanning speculation.” Opel was nearly sold to Magna and Russian investors in the wake of GM's 2009 bankruptcy. But then-CEO Ed Whitacre and the corporate board reversed that decision, igniting controversy from German political and labor leaders who have long chafed under American oversight.

2012 Volvo V40: Now the video leaks

Now its the turn of video of the 2012 Volvo V40 to leak out After many leaks of photos of the new 2012 Volvo V40, this afternoon we get the first new V40 video too. We’ve already run one story on the new Volvo V40 today, with a fairly comprehensive set of photos of Volvo’s new baby estate car leaking out before its launch at Geneva in just a few days. Now we get the new V40 on video after what appears to be Volvo’s launch promo for the V40 turned up on YouTube.

Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.