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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.

British Motor Show first details

By Ben Whitworth Motor Shows 17 December 2007 10:30 It may be a long way off on your automotive calendar, but next year’s 2008 British Motor Show looks set to be the biggest yet, with organisers expecting ticket sales to top the 550,000 mark. Housed at ExCeL London in the Docklands between 23 July - 3 August 2008, the show will feature more than 60 vehicle marques and 600 cars – including the global debut for the new Vauxhall Insignia and a preview of the new four-seater Lotus Project Eagle (mule for next-gen Eagle/Esprit chassis testing above). Although it’s still some eight months distant, over 80 percent of the stand space has already been sold, and the exhibition will also include the following attractions: • The Heritage Enclosure and Parade – a driving display providing the sights, sounds and thrills of supercars from the last five decades • Drift School – a chance for visitors to be driven sideways around a circuit by professional drivers • The Marine Experience – the British Marine Federation will display a line-up of luxury water craft as well as a programme of on-water entertainment • The Autoglym Supercar Paddock, a high-octane collection of luxury marques • The 4x4 Experience, a challenging terrain for testing the best of the off-road pack • Motor Theatre, a live-action stunt show Tickets to the Show will be on sale from February, with prices starting at just £8.

Electric cars amped up with £500 million boost

THE GOVERNMENT is to extend the £5,000 grant scheme open to anyone who buys a car with plug-in electric power. It is part of a £500 million move to encourage car owners – and city authorities – to take up the electric car baton and run with it. The initiative will give cities a chance to win government funding to further the sales of electric cars in their areas, for example by allowing them to use bus lanes or park for free.