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GM cancels Opel Vauxhall sale to Magna

By Tim Pollard Motor Industry 03 November 2009 22:59 General Motors tonight surprised the world by pulling its proposed sale of its European division – Opel and Vauxhall – to Magna. In a dramatic U-turn, Detroit said 'an improving business environment for GM over the past few months' had made it reappraise its spin-off plans.The 11th hour switch means that GM will still retain full ownership of Opel and Vauxhall, which will now 'be restructured in earnest'. Canadian parts giant Magna had won the race to buy a controlling stake in GM Europe, as a newly relaunched Detroit sought to shore up its finances.

Stop buying new cars says government adviser

People should stop buying new cars and drive their old ones until they’re beyond repair, says a top government adviser. This news, reported by the Daily Telegraph, comes a day after we reported that new cars sales figures have hit a six-year high. On Bing: see pictures of scrap cars Find out how much a car over 10-years-old costs on Auto Trader Chief scientific adviser to the government’s energy department, David MacKay, said “car manufacturers love us to buy a new car every few years” and that Britain needs to end its throw away culture.

Fiat 500 prices announced

By Ben Pulman Motor Industry 05 November 2007 10:00 Fiat has just announced prices for its gorgeous 500, and it’s not been greedy. As well as the 1.3-litre 75bhp diesel, and 1.4-litre 100bhp petrol, the range will now start with a 1.2-litre 69bhp petrol engine that Fiat had originally said wouldn’t be coming to the UK. A base 1.2-litre in Pop spec will start at just £7900, rising up to £10,700 for a top-level 1.4-litre.