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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.

VW Golf R & Scirocco R – the Video

The Golf R and the Scirocco R on track And the Golf R does go one better than the Scirroco R. Still equipped with VW’s 265bhp turbo 4-pot it also gets endowed with the latest version of VW’s 4Motion all wheel drive. But pretty pictures of the new Golf R are not really enough.

New British car company coming?

British entrepreneur David Brown, not to be confused with the late Aston Martin owner Sir David Brown or the former British Prime Minister, has announced the upcoming debut of a new luxury sports-car brand bearing his name. Brown has teamed up with ex-Land Rover chief designer Alan Mobberley to create the new car, dubbed "Project Judi" for now. This wouldn't be an update of any existing model but rather an all-new exterior and interior design.