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GM sells Suzuki shares to raise emergency funds

By Tim Pollard Motor Industry 17 November 2008 15:24 GM is flogging its entire stake in Suzuki to pump cash into its survival funds. The General owns a 3% holding in Suzuki Motor Corporation and will sell 16,413,000 shares on the open market tomorrow. Based on today’s values, GM will raise an estimated £154 million through the sale, although Suzuki will exercise an option to buy back an equivalent number of its own shares in treasury stock.

Happy 80th birthday, Dan Gurney

Here's a birthday shoutout to racing legend Dan Gurney, who turns 80 on Wednesday. In a long career, Gurney has been a driver, a car builder and a team owner. He was the first driver to win races in Formula One, Indy cars, sports cars and NASCAR.

New car sales surge by 7.6%

THE SURGE in new car sales has continued into the new year. There were 154,562 new vehicles registered last month, a 7.6% rise on January last year, the Society of Motor Manufacturers and Traders (SMMT) said. The society said sales of alternatively fuelled vehicle increased by 25%.