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GM board will again delay decision on Opel's future, report says

General Motors Co.'s board will again postpone a decision on Opel's future at a two-day meeting starting today despite pressure from Germany to accept an offer for the European unit from Magna International Inc, a newspaper reported today. GM's board will delay a decision until October at the earliest, the German business daily Handelsblatt said, citing company sources. The paper said the board favors keeping Opel or, as a second choice, selling a majority stake to Belgian investment group RHJ International, which is offering 300 million euros ($433 million) in cash for a 50.1 percent stake in Opel.

1957 Ferrari 625 TRC Spider fetches €5,040,000 in Monaco sale

1957 Ferrari 625 TRC Spider - sold for €5 million R M Auctions Monaco sale at the weekend achieved sales of €33.5 million with a 1957 Ferrari 625 TRC Spider reaching €5,040,000. Last month we reported on a very rare and very appealing 1957 Ferrari 625 TRC Spider being listed at R M Auctions Monaco sale, which took place this weekend, the first time on sale for 30 years. It sold for a not insignificant €5,040,000.

VW Group planning 10-speed DSG, new powerful diesel engine & more plug-in hybrids

The end of the internal combustion engine is nigh, they say, as the world tries to clean up its environmental act and works towards a goal of electric motors to power our personal transport. But car makers are fighting that belief by extracting more power for less fuel from ICE engines, and there’s still a very long way to go before the ICE engine is consigned to the history books. Volkswagen has already reduced the fuel consumption of both their diesel and petrol engines by 30 per cent since 2000 and plan a further reduction of 15 per cent by 2020.